Who's using what in P&C insurance: March 22, 2021
Insurance technology news from RMS, Frankenmuth Insurance, Arturo, ECHO Health and more.
RMS® and TigerRisk Partners announced the expansion of their partnership to include additional models and data in a new multi-year agreement. With this agreement, TigerRisk can now access the full RMS global natural catastrophe risk models suite, including RMS High Definition Models™. Karen White, chief executive officer of RMS, said, “TigerRisk Partners has established themselves as an innovative reinsurance broker and capital advisor firm in the market. As a valued partner of RMS for over a decade, their investment in analytics aimed at providing the best insights and services for their clients mirrors our commitment to the market. We look forward to continuing to support TigerRisk with the most trusted view of risk in the industry as they grow their business and enhance their services.”
Frankenmuth Insurance selected One Inc.’s ClaimsPay digital payment platform for outbound payments. One Inc.’s payment processing software is engineered to seamlessly integrate into Frankenmuth’s Guidewire core operating system, InsuranceSuite, accelerating the implementation process and ensuring continuity of the user experience.
Arturo partnered with Urban Sky to incorporate the company’s stratospheric photos into Arturo’s growing collection of property images. Through this partnership, Arturo can provide more accurate analysis to its insurance customers in the U.S., especially in suburban and rural areas.
ECHO Health, Inc. selected Sapiens International Corporation to provide carriers with a comprehensive, digital payment solution through a single, secure and streamlined portal. Together with Sapiens’ CoreSuite for property & casualty and CoreSuite for workers’ compensation solutions, ECHO’s payment processing solution will enable carriers to eliminate cumbersome manual payment processes, which are cited by 54% of large businesses and 65% of small businesses as among their leading B2B payment challenges. The joint offering will allow clients to reconcile payments across multiple modalities, with minimal IT requirements and maximum-security protection. All client financial data will be streamlined into a single access point, making for more efficient and profitable decision-making.
Coterie selected IBQ‘s commercial comparative rating tool to improve and simplify agency workflows, while expanding opportunities for independent agents with Coterie’s expansive appetite and simplified application. The Coterie and IBQ partnership combines Coterie’s tech-based approach to insurance offerings with IBQ’s cutting-edge technology which can simplify the process for independent insurance agencies.