Who's using what in P&C insurance: September 28, 2020
Insurance technology news from Mennonite Mutual, AmTrust Financial, ONE Insurance and more.
Mennonite Mutual selected Finys’ Suite for its farmowners line of business. The insurers says that it selected Finys because it constituted the shortest route to the processing power and scalability the company needed, the self-service capabilities it wanted for all its constituents, and the operational efficiencies necessary to remain competitive. As part of the implementation, Finys enabled Mennonite to build its own rates.
AmTrust Financial partnered with Vertafore to develop a solution to build out connectivity architecture that enables real-time connection between agents and underwriters. As a top writer in the market, AmTrust went live with commercial submissions for workers’ compensation. Agencies can use this platform to submit and receive an AmTrust quote within seconds as well as quickly bind the policies.
Sapiens International Corp. partnered with GreenRoad Technologies, a provider of advanced and predictive driving risk analysis for the automotive industry. The partnership will enable automotive insurance carriers to secure a new level of driver risk assessment data, making it possible to provide more competitive, personalized driver insurance premiums, customer-centric services and proactive risk-prevention programs. The partnership aims to enhance the auto insurance sector and elevate the services and products insurers operating in the automotive industry are able to provide.
Canal Insurance Co. selected the One Inc Digital Payments Platform to provide more robust digital payment capabilities. The selection is part of a push by Canal to improve its customer experience.
ONE Insurance selected the Hyperscience Platform for its advanced Intelligent Document Processing capabilities. With the Hyperscience Platform, ONE Insurance can reduce manual keying and validation, improve data quality, and streamline application processing across their motor, home and personal liability lines of insurance.
Duck Creek Technologies partnered with WPS Analytics software, and InsurTechnix to develop the Cyban solution on the Duck Creek Content Exchange. Cyban is a simple, cost-effective cyber risk platform that continuously determines the real-time value at risk for both policyholders and their insurers’ portfolios. Device-level data is captured in a dashboard that shows risk scores and alerts. The dashboard also makes recommendations as risk levels or exposures change.
Duck Creek Technologies also has partnered with Prompt.io™ to text-enable the Duck Creek Platform. Duck Creek customers can now leverage Prompt.io’s text messaging capabilities in combination with the ability to capture and exchange structured data to offer end-to-end, text-led policyholder communication for claims, enrollment, policy updates, and other insurer-critical processes.
FICO announced its partnership with Duck Creek Technologies. The arrangement aims to provide seamless integration of the FICO® Cyber Risk Score with P&C insurers policy quoting and underwriting workflows within the Duck Creek platform. The partnership enables access to accurate cyber risk scores, providing visibility into an organization’s enterprise security behaviors for underwriting efforts while helping to drive better business decisions.
Related: Who’s using what in P&C insurance: September 21, 2020