Who's using what in P&C insurance: November 23, 2020

Lowers Forensics International partnered with Infinilytics, an enterprise AI and analytics provider for the insurance industry. Together the organizations will combine AI-driven technologies to optimize the business interruption claims process for insurance companies. Lowers Forensics International will offer its proprietary Stratis™ AI platform, which, combined with Infinilytics, will utilize machine learning and built-in algorithms to catch red flags and deliver insights prior to generating industry-leading accurate calculations verified by expert forensic accountants. Adaptable to any product line and any portfolio, LFI says Stratis is the most advanced claims accounting tool available in the industry.

Carpe Data partnered with The Hanover Insurance Group to help the company further enhance claims processing efficiencies across more injury claims. ClaimsX, Carpe Data’s claims monitoring solution, leverages publicly-available web data for real-time assessment and decision making, from first notice of loss to resolution. ClaimsX uses predictive online content to alert The Hanover of claims that need attention from an adjuster, allowing for an efficient and effective claims process while improving the overall customer experience.

AXA XL‘s expanded its subcontractor prequalification tools for construction clients through a partnership with COMPASS, a digital prequalification platform used by general contractors to assess subcontractor counterparty risk.

Charter Financial Group selected Mylo as its personal lines and commercial insurance partner. Digital insurance agency Mylo will provide a comprehensive review of property & casualty coverages critical to a holistic financial plan.

Branch Insurance partnered with Cambridge Mobile Telematics, a provider of smartphone telematics, to create safer roads and save drivers money in the process with Community Drive. Connected by a mission to help improve driving behavior and reduce costs for clients, Branch and CMT have set out to make the roads safer for all by creating a community of safe drivers. Community Drive combines Branch’s ability to help consumers access coverage options quickly and easily with CMT’s safe driving technology. CMT’s telematics platform, DriveWell, will power the new program, enabling Branch to reward its community members with deeper discounts for safe driving.

Argo Group selected ACORD Transcriber as its fully integrated solution for dynamic document delivery and automation. Argo will leverage the benefits of next-generation, standardized digital data exchange. ACORD Data Standards are widely used throughout the insurance industry, accounting for half of global gross written premium. The industry-owned ACORD Transcriber solution operationalizes these standards to automatically download, extract and populate data in various document formats, enabling direct systems integration and straight-through processing. Argo will use ACORD Transcriber to automatically extract key fields from Adobe Acrobat documents and import the structured data output into various Argo work streams, thereby greatly speeding up data acquisition, as well as intake and submission processing.

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