Who's using what in P&C insurance: December 7, 2020

AssuredPartners selected Vertafore as the InsurTech provider for its Project Fusion. With offices in 38 states and two countries, the project will bring the AssuredPartners’ operations onto a single platform to provide a fully integrated, enterprise-wide InsurTech solution. AssuredPartners adopted a suite of Vertafore’s agency management, workflow, connectivity and client experience solutions. The agency is also a design partner for Vertafore’s Commercial Submissions™ platform, the industry’s first solution that truly connects the end-insured, agents and carriers for real-time quoting and binding on commercial policies. AssuredPartners will go live on Commercial Submissions later this year.

Zurich Mexico opted INFORM’s RiskShield to optimize its claims evaluation process and reduce losses caused by insurance fraud. The insurance group offers personalized prevention and protection solutions, adapting global services to fit specific client needs in the region. Zurich Mexico reconfirmed the trust it places in RiskShield to combat insurance fraud and automate its claims handling process. RiskShield has been implemented in both the motor and property lines of business and is set to be expanded into the medical billing space in the coming months.

Buckle‘s licensed carrier Gateway Insurance Co. has selected Sapiens, a global provider of software solutions for the insurance industry, to launch a unique digital fronting strategy™ with multiple value-propositions for partners through an a-la-carte insurance program offering with digital capabilities. Sapiens Reinsurance GO, Sapiens FinancialPro, and Sapiens StatementPro will enable Gateway to transform its financial, compliance, and reinsurance management.

Method partnered with Gradient AI to incorporate state-of-the-art artificial intelligence (AI) and machine learning solutions into the underwriting process. Method utilizes Gradient’s Artificial Intelligence Predictive Underwriting Model to determine the number of claims each policy is likely to have and the probable losses associated with those claims. Gradient’s AI trains on tens of millions of data points to perfect their proprietary pricing models. Method will begin using GradientAI’s predictive analytics model to roll- out low-touch automated underwriting for submissions less than $35,000 in premium incorporating.

Verisk and BlueVoyant announced a strategic partnership that will enable Verisk to exclusively offer insights driven by BlueVoyant’s industry-leading cybersecurity monitoring technology to insurers through the Verisk Cyber Solutions Suite. By integrating BlueVoyant’s risk data, technology and expertise into its cyber solutions, Verisk can deliver real-time analytics on critical metrics that can help reveal the cyber risks faced by prospects and those currently insured.

State Automobile Mutual Insurance Company selected CCC Information Services Inc. as its first-party casualty solution provider, extending the companies’ relationship. Now State Auto can manage physical damage to an automobile and first-and third-party casualty claims through a single digital workflow. CCC’s First-Party Casualty solution digitizes bill intake and review. Insurers’ specific rules are automatically applied to each claim, dramatically reducing time-to-payment. The solution delivers data analysis to help insurers benchmark performance and identify trend activity.

Ask Kodiak partnered with Commercial Insurance Partner, LLC (CIP) to accurately share carrier appetite and eligibility information for dramatically improved quote speed and conversion rates. CIP delivers a bolt-on efficiency solution through digital partnerships focused on lead acquisition, conversion, and risk appetite management for commercial lines insurance companies and utilized largely by sales centers. This partnership with Ask Kodiak is important to CIP since real-time knowledge of carrier appetite is critical to CIP’s ability to evaluate risk and match customers with the best commercial insurance partner.

Duck Creek Technologies selected Split Limit Studios, a provider of workers’ compensation pay-as-you-go billing solutions, to expand its Partner Ecosystem program. Split Limit Studio’s signature SaaS product, TRUPAY^®, integrates with Duck Creek Policy and Duck Creek Billing to enable automatic payment of insurance premiums each payroll period. Using real-time payroll data provided by a payroll company or policyholder, TRUPAY® calculates workers’ comp premiums based on current carrier rates, invoices the policyholder and collects the premium via ACH.

Agentero integrated with five digital carriers and partners, including Openly, Clearcover, Cover, Haven Life and Aon Edge, to provide tech-enabled market access for independent insurance agents on its platform. Agentero’s platform combines market access to digital carriers with data-driven technology that proactively identifies the needs of policyholders, matches them to the best products and streamlines the selling process for agents.

ePropertyCare partnered with Titan Insurance, an independent insurance agency offering a comprehensive suite of personal and business insurance solutions. Through the partnership, Titan will promote the ePropertyCare water protection solution to existing and potential clients in order to minimize the risk and costs associated with water damage, resulting in credits that will reduce insurance premiums. The ePropertyCare platform operates over cellular networks, allowing landlords and property managers to remotely monitor and control the property using their cell phone. This helps avoid in-person interactions, which has been extremely useful in the age of COVID-19 and the accompanying social distancing measures. Additional platform features include video monitoring, temperature control, electronic access, smart locks and alarm systems.

Hub International Limited selected Simplifya for the cannabis industry to provide ongoing cannabis license verification in order to help identify and support valid cannabis operators with insurance coverage. Licensing for cannabis businesses in the U.S. is particularly complicated. Compliance requirements vary by state, by the type of business, and by the physical location of the operation. Licensing requires proper due diligence in order for cannabis businesses to operate legally and maintain compliance.

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