Who's using what in P&C insurance: March 29, 2021
Insurance technology news from Quadient , Supercede, Neptune Flood and more.
Quadient acquired Beanworks, a software-as-a-service-based platform for accounting teams that modernizes and digitizes the accounts payables process. With COVID-19 making a work-from-home environment commonplace, Beanworks allows companies to approve invoices and pay vendors remotely. The Beanworks solution is geared for companies processing between 100 to 11,000 invoices per month.
Supercede partnered with Trace to provide a seamless solution covering the entire reinsurance lifecycle. Trace and Supercede both provide flexible and scalable solutions to support reinsurance brokers. Supercede Placements, which enables brokers to manage and streamline the reinsurance placement process with its free e-placement platform, has integrated with Trace’s OpenTWINS technology, to seamlessly connect with brokers’ back-offices.
Wellfleet Insurance selected EIS, a digital insurance service provider, to deploy the Lighthouse platform for quoting, implementing and administering workplace benefits more accurately and efficiently. Built on EIS’ cutting-edge core system and digital experience platform, Lighthouse by Wellfleet supports a personalized, proactive and connected user experience for brokers, clients and members.
Duck Creek Technologies and Xceedance announced that global insurer Hollard has gone live in Australia with a new platform to administer personal motor, landlord and home insurance lines backed by Duck Creek’s policy, billing, and data hub solutions. The implementation of the solution portfolio was executed during the pandemic, thanks to the flexibility and low-code configuration of the Duck Creek Platform.
Gore Mutual selected the AI-powered FRISS platform as part of the company’s large-scale transformation. FRISS will enable real-time fraud detection and prevention in both underwriting and claims, and will also support the company’s special investigation efforts. Partnering with FRISS will allow Gore Mutual to further enhance its advanced anti-fraud capabilities. The real-time FRISS solution provides a unique combination of out-of-the-box risk and fraud indicators with powerful AI techniques such as predictive models, network analysis and text mining. These will enable Gore Mutual to take a firmer stance against insurance fraud while enabling more efficient underwriting and claims services for the insurer and its policyholders.
Semsee partnered with Cowbell Cyber to offer agents the ability to quickly and efficiently quote standalone cyber coverage from its platform. With the increase in ransomware attacks and other threats to small and mid-sized businesses, the addition of cyber coverage provides an opportunity for insurance agents on Semsee’s platform to serve this growing market need.