Who’s using what in P&C insurance: June 1, 2020
News from the Texas Department of Insurance, HawkSoft, Veruna, and more.
The Texas Department of Insurance deployed the machine learning and natural language processing in Verisk’s Mozart Form Composer to accelerate the regulatory review of thousands of property & casualty forms filed by insurers each year. With Mozart, Texas insurance regulators will be able to streamline the filing intake process and accelerate the review of new form filings by analyzing how newly filed wording compares to previously approved wording.
HawkSoft announced its integration with Better Agency, which delivers easy-to-use sales and CRM automation for agents. The integration eliminates time-consuming double-entry of client and policy data between the two systems.
American Family Insurance selected Sapiens‘ decision management platform. The implementation process is underway and American Family plans to scale quickly, with core business logic modeled for personal property, auto and umbrella insurance products during the first stage, to be followed by additional products.
Veruna has formed a strategic partnership with Insuritas. Utilizing the Veruna AMS as the foundational technology, Insuritas has developed iInsure, a proprietary agency management ecosystem that incorporates core policy management functionality and CRM capabilities.
Woodruff Sawyer has partnered with CyberCube to become one of the first organizations to leverage CyberCube’s “Broking Manager” in its insurance advisory services. Broking Manager allows Woodruff Sawyer to quantify and explain to their clients the sources and financial impact of cyber risk exposure. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking.