Who's using what in P&C insurance: April 26, 2021
Insurance technology news from Bindable, Onlia, Duck Creek Technologies and more.
Onlia partnered with FRISS, an AI-powered fraud and risk solution company, to better serve customers. Through this partnership, Onlia is now able to digitize risk assessment, which improves the company’s underwriting, fraud alerts and claims processing.
American Family Group has licensed Karen Clark & Company’s (KCC) full suite of U.S. catastrophe models delivered through the RiskInsight® open loss modeling platform. The multi-year agreement includes the KCC models for hurricanes, earthquakes, severe convective storms, winter storms, and wildfires.
Co-operative Insurance Companies selected Sapiens ReinsurancePro and FinancialPro solutions to transform its financial & compliance and reinsurance systems. Co-op is implementing Sapiens advanced insurance solutions to help manage the increasing volume and complexity of its insurance strategy. Co-op turned to their trusted partner Sapiens for a solution that would solve two primary pain points — speed and accuracy.
Duck Creek Technologies expanded its partner ecosystem program with CARFAX, vehicle history database and provider of crucial vehicle history data to 23 of the top 25 largest auto insurers. The company’s predictive information is now integrated with the Duck Creek Platform, helping insurance carriers attract and retain the best customers while avoiding losses.
Texas Mutual Insurance Company selected Duck Creek’s Distribution Management to update the ways it manages its large producer base and offers modern, seamless experiences. To help carriers ensure that relationships remain productive, Distribution Management empowers sales managers and field representatives to create differentiated onboarding experiences, build targeted performance and incentive plans, and nurture producers with timely and valuable information.
IMS partnered with Turo, the car-sharing marketplace, to offer a telematics-based vehicle security package to vehicle owners using its platform. Under this new agreement, vehicle owners in Europe who work with Turo can get IMS’ telematics hardware professionally installed in personal or commercial fleet vehicles. Further, security specialists W4G will provide ongoing monitoring and theft recovery services.
GIA Map partnered with Canopius to enhance its ability to create and manage wildfire risk portfolios through smart automation technology. Canopius will leverage GIA MapCheck to allow its distribution partners to automate decision-making using real-time CAT and weather data, custom wildfire hazard scoring, portfolio Total Insurable Values (TIV) capacity and pricing. This will allow its distributors to map eligibility and pricing 24/7, greatly streamlining the underwriting process.
Swiss Re partnered with Veoneer to further improve assessment and enhance the development of ADAS technology. Swiss Re and Veoneer are pooling their knowledge and vast experience on road safety technologies to further enhance the evaluation and development of advanced driver assistance systems and related services.
Coterie integrated Talage’s Wheelhouse platform to extend digital availability and technology tools to independent agents. Digital distribution is a growing demand for insurance companies, agents, potential policyholders and existing insureds. For InsurTechs, like Coterie, Wheelhouse integration is a quick, easy path to providing digital purchasing options specific to the small business segment.
Trinity Underwriting Managers (TUMI), part of Amwins Underwriting, partnered with Obsidian, an A.M. Best rated “A-” hybrid fronting program carrier. The partnership will enhance TUMI’s automotive liability product offerings to fill a need for specialty insurance solutions in a challenging and complex industry. TUMI’s new program with Obsidian will offer exclusive insurance solutions for towing, automotive repossession, sand and gravel, paratransit and intermodal trucking businesses, which are often recognized as some of the most difficult-to-place segments in the transportation space.
Snapsheet partnered with Bamboo Insurance. Bamboo, a high-growth InsurTech company, chose Snapsheet’s end-to-end claims management platform to elevate their customer experience and modern approach to insurance. Bamboo Insurance offers homeowners, dwelling fire, flood and earthquake insurance. Bamboo’s business approach is to leverage state-of-the-art data and technology to meet the evolving needs of their customers and ultimately transform the insurance industry.
Responsive Auto Insurance Company implemented the One Inc Digital Payments platform. Responsive Auto provides highly rated, affordable personal auto coverage to South Florida residents through a simple, straightforward purchasing experience. Responsive Auto sought to expand payment options, optimize the customer experience, and further streamline and modernize the insurance purchasing process by implementing a new digital payments solution.
Loadsure partnered with Amwins Specialty Logistics Underwriters. Now, the agency’s logistics and cargo retail partners can offer access to dynamically priced, pay-as-you-go, all-risk smart coverage that includes automated claims — on a platform that takes just 40 seconds to secure coverage.
TrustedChoice.com partnered with Semsee‘s small commercial quoting platform for independent agents to provide commercial quoting on its heavily trafficked consumer website. Using the solution, business owners can visit TrustedChoice.com and answer several simple questions to receive a quote indication and be connected with a local independent agency to complete the policy buying process.