Who's using what in P&C insurance: August 30, 2021
Insurance technology news from Socotra, XDimensional Technologies, GuideOne Insurance and more.
Socotra partnered with Betterview to make the underwriting tools and resources of both companies available to insurers on a single platform. Betterview provides property and casualty insurance carriers with actionable property intelligence. Using a combination of third-party data, geospatial intelligence and proprietary machine learning tools, Betterview provides an accurate assessment of a property’s real risk drivers including the Roof Spotlight Index, a 100-point assessment of a roof’s condition.
XDimensional Technologies announced Worldlink Specialty LLC went live with a new helipad and non-owned aircraft program on the Nexsure Insurance platform. Worldlink Specialty has been using the policy admin+ edition of the platform since 2017, and the helipad program is the latest expansion of the platform.
GuideOne Insurance partnered with Azuga, a provider of commercial auto insurance telematics programs. This relationship allows GuideOne to offer its policyholders fleet management tools to help them improve driving safety and optimize fleet performance. GuideOne policyholders will be offered discounted access to Azuga’s safety driven telematics solution, which includes integrated SafetyCam options, vehicle health reports, driver scoring and risk improvement features, speeding and distracted driving risk alerts, and much more.
Metromile integrated with Verisk’s LightSpeed Auto to simplify the consumer buying experience, increase speed to bind and conversion rates and lower acquisition costs. LightSpeed Auto is a digital underwriting platform that combines extensive data resources and groundbreaking predictive analytics from Verisk, data analytics provider, to deliver superior results for auto insurers and their customers.
Crawford & Company acquired edjuster, a technology-driven field and desktop contents claims handling company. This solution operates on a proprietary contents management platform that offers a full-featured, easy-to-use contents inventory and valuation solution for both high severity complex claims and high-volume, small claims. The acquisition of edjuster adds a digital component to Crawford’s existing contents valuation service, expands its current capabilities in North America, and supports its purpose to restore and enhance lives, businesses and communities.
Tokio Marine partnered with leading cyber risk analytics specialist CyberCube. Tokio Marine has gained access to a suite of CyberCube’s products including account manager, portfolio manager and a range of other cyber modeling solutions. This constitutes CyberCube’s most comprehensive deal to date with an Asia-headquartered insurance institution. In addition to these CyberCube products, Tokio Marine also has access to the company’s new add-on modules, including its attritional loss model, its single point of failure (SPoF) intelligence feature and its concierge enhanced access consulting service.
National Service Bureau, Inc. (NSB) implemented Gigaforce’s platform for subrogation. NSB is a national collection agency that manages delinquent accounts receivable and provides collection services to help businesses in the insurance, assisted living, medical, commercial and consumer finance segments collect on past due accounts.
Pie Insurance received regulatory approval to acquire Western Select Insurance Company, a property and casualty insurance company that is licensed in Illinois, California and New York, from a subsidiary of Premia Holdings Ltd. Upon the closing of the proposed acquisition, Western Select Insurance Company will be renamed Pie Casualty Insurance Company.