Who's using what in P&C insurance: October 4, 2021
Insurance technology news from Hiscox, GeoVera Insurance Group, Verisk and more.
Hiscox selected Convr’s d3 Risk 360TM and d3 Answers to help reduce losses, ensure premium adequacy and accelerate speed to quote. Convr’s solution supports all core commercial lines of business and classes. All parts of the platform are available via the Convr Underwriting Command Center, as well as through Convr Connect system-to-system APIs.
GeoVera Insurance Group selected One Inc.’s PremiumPay and ClaimsPay products to transform inbound payment collections and outbound payment disbursements. GeoVera is a California-based company whose subsidiaries sell residential insurance solutions with a focus on catastrophe-exposed property in the United States.
Zurich North America selected Chisel AI to implemented its Submission Intake and Policy Check solutions to automate core construction underwriting and placement processes, ensure policy quality, and reduce the costs of policy rework and reissuance. Chisel machine learning and natural language understanding solutions will read, extract and ingest unstructured data from lengthy and complex digital insurance documents, and automate time-consuming manual submission intake and policy checking tasks.
Verisk and Insurance Regulatory Consultants (IRC) partnered to help insurers innovate. As part of the collaboration, Verisk can leverage the deep domain expertise and robust data of its ISO business to help new and existing insurers launch new products, improve their actuarial analysis and enhance their strategic decision making. IRC can assist the insurers in the development of these new products and guide them through the regulatory approval process.
Jupiter joined insurance and utility industry leaders along with the Lawrence Livermore National Laboratory and others in a program at San Jose State University’s Wildfire Interdisciplinary Research Center, which was designed to accelerate the impact of research by establishing close relationships with industry innovators, government leaders, and academic teams.
Bolt is now using Zendrive’s Insurance Qualified Leads (IQL) solution powered by its Mobility Risk Intelligence platform to help insurers acquire safer drivers through its largest distribution network. With their emphasis on leveraging technology to connect insurers with consumers through embedded experiences, bolt decided to leverage Zendrive’s IQL platform to deliver a steady stream of preferred risk drivers to insurers.
Zendrive also partnered with two insuretech players, Clearcover and Cover. Clearcover will leverage Zendrive’s IQL solution, powered by its Mobility Risk Intelligence platform, to target customers through the cover app. Initially, drivers with safe driving habits will receive access to affinity discounts in nine states with national expansion to all states in the future.
Method Insurance Services selected Origami Risk’s Policy Administration Solution Suite to enhance the effectiveness of its technology-based tools and resources. Along with streamlining Method’s policy administration workflows, Origami will integrate with artificial intelligence and machine learning capabilities of Gradient AI into its popular, cloud-based platform.
Related: Who’s using what in P&C insurance: September 27, 2021