Who’s using what in P&C insurance: Sept. 30, 2019
News from The Travelers Companies, the North Carolina Rate Bureau, Beazley and more.
The Travelers Companies launched the Travelers Catastrophe Map Viewer, a new capability that provides agents and brokers with before-and-after photos of areas affected by disasters. The Travelers Catastrophe Map Viewer uses photos by the National Insurance Crime Bureau‘s Geospatial Intelligence Center, which sends aircraft equipped with aerial camera systems over certain disaster areas to capture images and assess the damage.
The North Carolina Rate Bureau selected Verisk to help develop a new program aimed protecting homeowners from losses suffered due to the damaging effects of flooding. The new program’s forms closely align with language ISO has already filed in numerous states as part of its multistate flood program, and they track with standard homeowners policy language in a way that facilitates individual insurers offering coverage beyond the National Flood Insurance Program.
Specialist insurer Beazley selected Guidewire Software Inc.’s Guidewire Cyence Risk Analytics to leverage its internet-scale data collection capabilities to improve underwriting, capital and pricing efficiencies, and offer policy terms and premiums as quickly as possible to its customers. Beazley will implement Cyence data models to augment its existing data modeling applications for its cyber insurance line of business, with plans to expand to other lines of business in the future.
Betterview announced a commercial agreement with Frederick Mutual Insurance Company. Frederick Mutual plans to use Betterview’s property analytics throughout the policy lifecycle, from loss control and underwriting to claims and catastrophe response.
Betterview also announced the integration of the Geospatial Insurance Consortium‘s high-resolution aerial imagery into Betterview’s property risk management platform. The integration of this imagery will provide mutual customers with premium quality location data throughout the property & casualty lifecycle.
Protective Insurance Corporation teamed up with REIN to launch a data analytics program enhancing key areas of Protective’s operations. Through the partnership, Protective will utilize the REIN platform to build additional loss prevention capabilities across its commercial trucking line of business and expand the usage of data science in strategic areas.
Sapiens International Corporation announced a new partnership with Atos. As part of the partnership agreement, Sapiens will provide their software platform and enhance it with Atos’ innovative services and BPO offering.