Who's using what in P&C insurance: April 12, 2021
Insurance technology news from SimpliSafe, Crum & Forster, Insureon and more.
Distinguished Programs, a specialty and commercial lines MGA, selected Duck Creek Technologies’ Policy, Rating, Billing, Industry Content, and Insights solutions (implementation via Duck Creek OnDemand) to power its digital transformation. OnDemand is Duck Creek’s end-to-end SaaS solution, providing all of the services, support, and computing resources needed to help carriers move faster and more efficiently.
SimpliSafe partnered with Farmers Insurance to help make preventative smart home protection available to homeowners in Ohio, Iowa and Alabama. The pilot effort aims to help insureds protect their homes in those states against theft, fire and water damage while also providing them with potential savings on their homeowners policies.
Crum & Forster selected Convr’s d3 Intake to power the digital underwriting experience when processing new business submissions. Convr’s solution supports all core commercial lines of business and classes. All parts of the platform are available via a highly intuitive underwriting user desktop, as well as through system-to-system API connectors.
Insureon partnered with Coalition, a provider of cyber insurance and security tools, to offer owners of small and midsize businesses access to Coalition’s product set on all Insureon quotations. According to a Coalition survey, more than 43% of cyberattacks target small businesses, but Coalition’s small-business policyholders have experienced less than one-fourth of the number of claims compared to the rest of the market. This is a tremendous testament to Coalition’s approach to underwriting and risk management, and a benefit to business owners.
Semsee partnered with IVANS to connect to the IVANS Distribution Platform, the industry’s platform for commercial lines marketing and sales distribution. Semsee will use IVANS to expand access to insurers on the platform, delivering its agency partners more markets to find the best coverage for their policyholders. By identifying market appetite as part of the process, IVANS Distribution Platform increases efficiencies and submission volume and can lower declination rates. By supporting a broad set of commercial line types, the platform provides valuable data insights for insurers and MGAs to review submission and quote details against industry benchmarks.
Arrowhead Core Commercial implemented Talage’s Wheelhouse platform to extend digital availability and technology tools to independent agents. Wheelhouse provides a quick and easy digital purchasing path for independent insurance agents serving the small business segment. Wheelhouse boosts agent profitability and productivity by automating and enhancing the small business insurance purchasing experience. Through user-friendly agent portals, Wheelhouse delivers online checkout capabilities, supports agency automation, and optimizes agent-customer interactions.
First Acceptance Insurance Company, Inc. selected TransUnion Vehicle History Score, a more accurate way to score a vehicle’s risk helping to further segment risk, allowing Acceptance to improve pricing. Acceptance is the first to offer this scoring platform in California, the company claims. While most rating plans on the market classify vehicles into groups according to the vehicle type, such as year, make/model, or engine size, the Vehicle History Score is designed to predict a specific vehicle’s risk of a future claim based on its unique historical footprint.
States Premium Financing, Inc. selected Input 1‘s premium finance software, the Premium Billing System, to grow its premium finance business. States Premium Financing stated the company needed a technology provider who could give them a solid foundation and tangible advantages in the marketplace.