Who's using what in P&C insurance: February 22, 2021

Apollo Syndicate Management partnered with legacy acquirer Compre. This includes the launch of a new Lloyd’s legacy business-focused Syndicate 1994, which has received approval from The Council of Lloyd’s. Apollo will be the managing agency for the new Syndicate, which will target mid-market portfolios within the growing Lloyd’s legacy space. Mark Lawson, group actuarial director at Compre, will be the active underwriter and syndicate run-off manager while maintaining his role as Compre group actuary.

Aclaimant partnered with StrongArm Technologies, a safety science company, to create a holistic, active risk management solution for employers and employees. Aclaimant and StrongArm’s partnership enables businesses to take information from a wearable at the time of an incident along with the claim submitted from the employee who was injured to transform the claims process. The data from both platforms give the power back to the customer and provides a collective experience that makes processing insurance claims and keeping employees safe more effective and efficient for all parties involved.

Universal Property & Casualty Insurance Company announced its plans to expand its property underwriting and claims workflows to support critical touchpoints with customers across the insurance value chain. The additional solutions are powered by the growing end-to-end ecosystem developed by Verisk. As part of the expansion, Universal will add Xactimate, the industry-standard property claims estimating solution, to its current use of two Verisk solutions: 360Value, which delivers component-based, replacement-cost estimates, and LOCATION, which provides address-level information on a variety of risks.

Arch Insurance partnered with Coalition for long-term capacity for its U.S. and Canada cyber and technology errors & omissions insurance programs.

Patra and expert.ai partnered to deliver AI-powered policy checking to the insurance market. By combing expert.ai’s technology and expertise, along with the market power of the InsurConneXtions Alliance members, additional complex solutions are currently being developed for the industry.

Sapiens International Corporation and VPay partnered to extend VPay’s digital payment services to workers’ compensation insurers. VPay’s solution has enabled workers’ compensation insurers to digitize 40-55% of all service provider payments, yielding up to $1 million in savings on print, mail and treasury fees. Among insurers using VPay to make payments to injured workers, 60-75% of those payments have gone electronic.

Turo partnered with Claim Genius, Inc., a provider of artificial intelligence-based auto claims solutions. Turo will use Claim Genius’ advanced AI and image analysis technology to streamline the processing of auto damage claims to identify pre- versus post-trip damages, improving claims resolution time and accuracy.

Church Mutual Insurance Company selected Guidewire Software, Inc., to accelerate its claims transformation. The company originally selected Guidewire in 2019 to modernize its infrastructure and improve customer engagement to accelerate growth. Church Mutual will implement ClaimCenter in Guidewire Cloud by line of business within each of its four entities.

Click-Ins and Attestiv, Inc., partnered to provide automated, end-to-end fraud prevention and damage detection solution for the auto insurance industry. Click-Ins will enhance its platform with additional fraud protection and self-service capabilities, reduce carrier risk, and lower overall costs for all parties. Additionally, the Attestiv platform enhances Click-Ins’ vehicle inspection tool by using AI and blockchain technology to validate the authenticity of photos through digital fingerprinting and forensic analysis in real-time, reducing the risk of fraud.

Praedictus Climate Solutions partnered with Speedwell Group to bring Praedictus Croplock to the parametric risk transfer market. Croplock offers an index-based solution for managing crop yield risk. Using proprietary crop yield modeling, Praedictus has developed indices designed for use in parametric products. Each index represents an ongoing prediction of crop yield for a given commodity over a given region.

HawkSoft‘s selected Semsee, a small commercial quoting platform for independent agents, to allow agents to seamlessly quote small commercial lines using data from HawkSoft’s agency management system. Information from the HawkSoft management system will populate the Semsee system via HawkSoft’s Partner API, enabling agents to quote new and renewal business faster and more efficiently and significantly reducing data entry for agents.

Related: Who’s using what in P&C insurance: February 15, 2021