Who’s using what in P&C insurance: March 11, 2019
News from Arthur J. Gallagher & Co., Shift Technology, HUB International Limited and more.
Arthur J. Gallagher & Co. has signed an agreement to acquire the global aerospace operations of Jardine Lloyd Thompson Group plc (JLT). The acquisition, subject to European Commission approval, is scheduled to close this spring in connection with the closing of the JLT purchase by Marsh & McLennan Companies Inc.
Shift Technology has entered into an agreement with CNA Financial Corporation to automate the carrier’s fraud detection capabilities. CNA is the first commercial insurer based in the U.S. to partner with Shift Technology to take advantage of FORCE, the company’s AI-native, SaaS-based fraud detection solution.
HUB International Limited has acquired the assets of Integrated Risk Solutions Inc. Terms of the transaction were not disclosed.
For the past year, Allstate has partnered with Uber Technologies Inc. to provide commercial insurance protection to riders and drivers in Illinois, New Jersey, New York and Wisconsin. The coverage now expands to Alaska, Idaho, Michigan, Minnesota, Montana, New Mexico, Nevada, Oregon, Utah, Washington and Wyoming.
SIUPREM Inc. has successfully implemented One Inc.‘s Digital Payments Platform for modern payment processing and digital engagement. Through this implementation, SIUPREM is leveraging digital capabilities that include recurring credit card payments and replacement of batch file processing with real-time posting.
Armed Forces Insurance has joined Roost‘s Home Telematics Program (HTP) in partnership with Willis Towers Watson. Armed Forces Insurance joins CFM Insurance, Encompass Insurance, State Auto Insurance and Country Financial as the first five announced HTP members.
Assurely, in collaboration with AXA XL, has launched CrowdProtector, a new insurance product for issuers and investors that safeguards new online capital formation strategies, including equity crowdfunding and security token offerings.
Berkshire Hathaway GUARD Insurance Companies has partnered with Planck, an artificial intelligence data platform. This partnership will allow GUARD to expedite its digital underwriting initiatives for its small and medium business segment.
DataCubes has partnered Salt Lake City-based WCF Insurance, a workers’ compensation insurer. Through this partnership, WCF’s underwriters will utilize DataCubes’ computer-vision technology to process ACORD forms and loss-run documents.
P&C Insurance Systems Inc. (PCIS) announced that the State of Maryland’s Transit Administration Office of Safety, Quality Assurance, & Risk Management has selected PCIS’ ClaimsVISION. The Maryland Transit Administration will utilize ClaimsVISION claims management software to store, track, manage and resolve its approximately 5,400 incidents per year resulting from the transit system.