Who's using what in P&C insurance: June 14, 2021
Insurance technology news from Coalition, Insurify, USAA and more.
SageSure licensed Opterrix’s software and weather modeling to enhance its claim management capabilities related to extreme weather. Opterrix is a high-performance risk analysis platform that empowers insurers to proactively identify, quantify and mitigate avoidable losses while reducing claims expenses and increasing policyholder engagement. Opterrix leverages advanced data science and integrated workflows to drive innovative strategies throughout the insurance value chain.
YellowBird partnered with the Board of Certified Safety Professionals to integrate networks and streamline credential checks in the hiring process. The move also benefits businesses seeking EHS professionals by quickly providing them with the vetted, certified expertise they need.
Insurify partnered with Nationwide to provide Nationwide customers with a shopping experience complete with car insurance quotes from multiple insurers. This partnership comes on the heels of Insurify’s partnership with Toyota Insurance Management Solutions, which marked the company’s first step into embedded insurance.
Generali Global Assistance (GGA) partnered with Avast, a global provider of digital security and privacy tools, to supply its award-winning identity protection service to Avast’s user base. The service will initially be available within the United States with further geographic expansion planned later this year. The service provides affordable and immediate assistance for Avast users affected by identity theft and fraud.
Universal Fire and Casualty Insurance Company selected ClarionDoor’s rating and quoting for three new commercial insurance products. ClarionDoor’s cloud-native, API-first software is designed with speed-to-market in mind, empowering insurers to develop products via a no-code, fully configurable solution. Insurers are able to modernize legacy products or enter new markets without the frustrations of legacy insurance software.
Spear Technologies partnered with Pacific Claims Management, a third-party administrator that serves the workers’ compensation market. Pacific Claims Management has selected SpearClaims for its cutting-edge technology platform, which will help the company streamline workflow, drive continual cost savings, and facilitate optimal claims outcomes.
Trustpoint Insurance joined MarshBerry’s Connect Platform.MarshBerry’s Connect Network maximizes the power of a peer exchange network utilizing a blend of business owners and advisers in the insurance industry.
Skyward Specialty Insurance Group partnered with reThought Insurance Corporation, a technology and underwriting company that developed a proprietary flood risk assessment technology. Skyward Specialty brings deep expertise in commercial property along with distinctive capabilities to integrate advanced technology and new forms of data for better risk selection and loss management. ReThought’s state-of-the-art proprietary underwriting methodology and risk assessment technology enables the most accurate, comprehensive and profitable means by which to visualize, assess, underwrite and price commercial flood coverage for complex risks.
LAWPRO selected OneShield Software‘s SaaS offering, OneShield Market Solutions, a suite of automated solutions for end-to-end policy administration, billing, claims, reporting and analytics. Considered a professional liability leader, LAWPRO provides primary errors and omissions insurance coverage for Ontario lawyers, excess insurance for lawyers and law firms, and title insurance across Canada.
Adlib selected ACORD Transcriber service as part of its collaboration. As a member of the licensed integrator partner community of ACORD Solutions Group, the industry-owned subsidiary of ACORD, Adlib will leverage ACORD’s next-generation digital standards, solutions and services for the benefit of its clients and the insurance industry at large. Adlib will primarily focus on the ACORD Transcriber service to enhance its long-established content intelligence and automation solution portfolio, as it expands its reach into the global insurance industry and other processors of insurance data.
ActZero partnered with Zeguro to create a comprehensive cyber risk management program for small and midsize businesses. This partnership brings that symbiotic relationship to bear, enabling organizations to pursue risk management strategies across both paths.
Coalition partnered with Intuit to enabling QuickBooks customers to access comprehensive cyber insurance coverage to protect their business. This gives QuickBooks’ customers direct access to a streamlined quoting and purchase process for cyber insurance through Coalition.
Lumen Risk Services partnered with Betterview to strengthen and accelerate its commercial property underwriting capabilities. The new relationship provides Lumen’s underwriting team with access to building-level detections on multi-family properties from Betterview’s Remote Property Intelligence Platform, enabling the MGA to develop more comprehensive risk profiles from quoting through post-bind. This capability aligns with the focus of Lumen’s leadership on bringing insurance products to the marketplace in new and innovative ways.
USAA acquired InsurTech company Noblr, Inc. to offer usage-based insurance to its members. UBI products offer a lower premium, along with a mileage variable, by combining usage and behavioral factors to create pay-as-you-go personalized pricing and opportunity for savings and rewards. This is important for USAA’s military service members who are highly mobile and frequently deployed.
Cinch Home Services partnered with The Zebra, an Austin, Texas-based insurance comparison site that is changing how homeowners shop for and buy insurance. This partnership is the latest step in Cinch’s continued expansion into the property & casualty insurance industry, as it works with insurance carriers and agents to deliver valuable home services to policyholders nationwide.