Who's using what in P&C insurance: September 20, 2021
Insurance technology news from Old Mutual Insure, Kia America, AcordPay and more.
Old Mutual Insure selected Sapiens‘s ReinsuranceMaster, the oldest insurer in South Africa, which services personal, for commercial and corporate customers across South Africa as well as Namibia, Botswana, Zimbabwe and Nigeria under the Old Mutual brand.
Kia America partnered to supply vehicle build data to LexisNexis Risk Solutions, analytics and technology provider, to help Kia owners across the U.S. potentially benefit from their cars’ advanced driver assistance systems when they shop for auto insurance. LexisNexis Vehicle Build provides data regarding ADAS features in Kia vehicles in order to help U.S. auto insurers utilize the data in insurance rating and underwriting, ultimately to help potentially reduce the total cost of vehicle ownership for consumers.
AcordPay partnered with Duck Creek Technologies and ClearPay, a service that enables producers to issue premium payments and to automate reporting to insurers. An anywhere-enabled integration with ClearPay, now available on Duck Creek’s content exchange, enables insurers to receive premium payments and corresponding reconciliation data and to directly import this into Duck Creek Billing.
Branch Insurance partnered with Safekeep, an award-winning insurtech that uses AI to maximize net recovery through its Claims Profitability Platform, to enhance the claims experience for Branch members. This partnership aims to identify and maximize Branch’s recovery opportunities across all insurance products using Safekeep, the industry’s most advanced subrogation and recovery platform. Designed by recovery and tech professionals from leading carriers, Safekeep is expected to increase recovery potential by more than 20%.
Metromile Enterprise Solutions, LLC partnered with Dwolla. With Metromile STREAMLINE and Dwolla, insurers worldwide can offer digital claims payments, including real-time payments via the RTP network, automated clearing house (ACH) transfers via the ACH Network or push-to-debit disbursements, helping to resolve claims more quickly and accurately.
Eiver and Zendrive partnered to bring fairer insurance solutions to French insurers through a partnership will enable a complete technological solution for French insurers looking to generate more accurate driver risk estimates, while also rewarding safe driving. Until now, motor insurance offers in France such as UBI and Pay-as-you-drive have been difficult to implement due to operating costs and installation of hardware-dependent solutions. The eiver and Zendrive partnership will empower insurance companies to deploy their own offerings via a simple, yet powerful smartphone application.
Related: Who’s using what in P&C insurance: September 13, 2021