Who's using what in P&C insurance: November 16, 2020

AXA XL recently partnered with Xtract to digitize, expedite and transform the commercial auto claims management process in the U.S. Xtract captures a digital First Notice of Loss record of the claim by providing an intuitive mobile user interface. Xtract then aggregates real-time crash data with other relevant data, including vehicle details, repair parts data, and third-party information to provide a predictive damage triage when relevant. This enables fleets and claims handlers to make speedy and accurate decisions. And by connecting real-world incident data with mapping software and real-time weather reporting, Xtract delivers visual context to the incident, which promotes a swift liability decision.

Sapiens International Corporation acquired Tia Technology, a digital software solutions vendor, from the global investment organization EQT Mid Market. Tia Technology offers comprehensive software solutions primarily for property & casualty insurers. Additionally, Tia offers a full scope of implementation, application management and hosting services, which empower insurers to execute digital business strategies. Tia’s market presence also is expected to help Sapiens improve its position in South Africa and the Baltics markets.

The State of Oklahoma selected Rekor Systems’ Rekor One™ platform to provide vehicle information associated with uninsured motorists as part of the state’s Uninsured Vehicle Enforcement Diversion Program, which is operated by the Oklahoma District Attorneys Council. The Rekor One platform furthers the state’s mission to decrease the number of uninsured motorists on the road and keep matters out of the court system. The platform allows for real-time detection of non-compliant vehicles and instant data consolidation into a regularly updated insurance database connected to the state’s enforcement programs.

Brown & Brown, Inc. acquired CoverHound and CyberPolicy to accelerate digital insurance distribution. Through the transaction, Brown & Brown gains additional access to the fast-growing digital insurance market for both individuals and small businesses, in addition to capabilities that modernize the insurance purchasing experience. CoverHound and its wholly-owned subsidiary, CyberPolicy, are a catalyst for driving insurance-industry digital transformation. Combining Brown & Brown’s strong carrier relationships and product knowledge with CoverHound and CyberPolicy’s partnership network and customer experience will create a strong value proposition for customers and partners.

Berkshire Hathaway GUARD Insurance Companies partnered with Guardian™ by Elexa to provide smart leak prevention systems to the insurer’s homeowners policyholders. Homeowners can place the detectors near toilets, washing machines and other appliances or fixtures to monitor for leaks. The Valve Controller then communicates directly with the Leak Detector and can close the water main automatically in the event of a leak, freezing temperatures, earthquake, or power failure. Elexa Consumer Products developed Guardian Automatic Leak Prevention System to reduce the frequency and cost of water damage.

Nationwide partnered with IMS as the technology provider for the SmartMiles^® pay-per-mile insurance program. IMS enables Nationwide’s pay-per-mile insurance telematics program SmartMiles®, which bases insurance charges on miles driven and also allows drivers to earn up to a 10% discount for safe driving.

AmTrust Financial Services, Inc., and Servify partnered to provide Device Protection Programs for Retailers, Carriers and Original Equipment Manufacturers. The new offering is intended for connected devices, new and in-use, such as small electronics and appliances, with white-labeled scalable solutions that cater to individual consumers or enterprises.

Hiscox USA selected Ask Kodiak to enable the carrier to communicate its direct small commercial product appetite information in real-time to partners. Utilizing the Ask Kodiak platform, insurance companies, like Hiscox, can store, update and share this vital information with any distribution partner for maximum efficiency and quote-to-bind speed. By communicating the product and appetite information to wholesale partners in real-time, before a quote is requested, agents and underwriters can save time and energy otherwise spent on out-of-appetite risks.

Insurity, LLC acquired CodeObjects for managing personal lines of business, rounding out the company’s portfolio of industry-leading commercial line solutions. In addition, CodeObjects brings advanced AI technology to enhance customer experiences across all Insurity solutions. CodeObjects’ flagship solution, InsuranceEnterprise, is a fully-integrated end-to-end policy, billing and claims suite featuring a powerful set of configuration tools that simplify implementation and enable self-service. Beyond the core suite, CodeObjects offers an AI-powered virtual assistant, InsurBot. Leveraging IBM Watson technology, InsurBot enables insurers to deliver improved and differentiated customer experiences.

Fusco & Orsini Insurance Services selected Applied‘s Marketing Automation, a natively integrated marketing automation application. Applied Marketing Automation enables Fusco & Orsini to elevate their role as a trusted advisor and thought leader with world-class industry content and targeted marketing campaigns. The application provides access to an insurance-specific content library with an editorial team dedicated to keeping assets up-to-date and tracks any marketing-related activities produced by campaigns in the management system.

Carpe Data has expanded its partnership with The Hanover Insurance Group to help the company further enhance claims processing efficiencies across more injury claims with ClaimsX. ClaimsX uses highly predictive online content to alert The Hanover of claims that need attention from a claims adjuster, allowing for an efficient and effective claims process while improving the overall customer experience.

Related: Who’s using what in P&C insurance: November 9, 2020