Who’s using what in P&C insurance: April 27, 2020
News from GEICO, Sompo International, Vertafore and more.
GEICO has chosen Carisk Partners’s Intelligent Clearinghouse (CiC) as its direct clearinghouse connection for nationwide auto/no-fault electronic bill processing. CiC platform allows for the electronic submission of bills and supporting documents to payers, resulting in faster processing, greater accuracy and increased cash flow.
Sompo International announced its agricultural insurance partnership with Portuguese MGA ATLAS to offer innovative crop insurance solutions to the agricultural sector in Portugal. ATLAS offers a variety of traditional crop insurance products and will expand into new products and coverages to help address the evolving needs of farming operations in Portugal.
Vertafore joins with Aon Edge Private Flood Insurance to streamline the process for residential flood quotes by integrating EZ Flood into PL Rating. This partnership enables independent agents to quickly quote private residential flood coverage and provide their clients with a full range of coverage choices to address their insurance needs.
Plymouth Rock Assurance and Hi Marley announced the expansion of a pilot program that uses intelligent text messaging to manage and resolve auto insurance claims. Plymouth Rock will extend use of Hi Marley in its mission of providing coverage with a human touch to transform insurance.
Nuance® Communications announced a solution, Voice-to-Agent Messaging, that uses AI to eliminate putting customers on hold and instead lets customers leave a voice message of any length to explain their issue and requests. Nuance’s AI can also provide agents with proposed answers and automatically send an SMS to the customer with a personalized response.
CyberCube released an updated version of Portfolio Manager, a cyber risk modeling platform used by insurers, reinsurance brokers and reinsurers. Portfolio Manager allows insurers to stress test (re)insurance portfolios against a range of systemic cyber-related scenarios, including data breaches, cloud outages, global ransomware attacks and financial fraud.