Who's using what in P&C insurance: November 8, 2021

Verisk acquired Data Driven Safety, a public record data aggregation firm that specializes in driver risk assessment in the United States. The acquisition will expand Verisk’s robust auto insurance analytics, providing insurers with information to further refine underwriting, improve the customer experience and promote public safety. Data Driven Safety gathers information on traffic citations, vehicle accidents and driving records from public sources.

Cowbell Cyber partnered with Sayata to provide precise, instant quoting for cyber coverage through a 100% digital process, further increasing the speed at which cyber policies can be issued. The majority of insurance applications submitted through APIs today still result in inaccurate quotes. This triggers the need for manual underwriting and unnecessary delays. Insurance agents and brokers need speed and efficiency when servicing small and mid-size businesses while offering coverages that are relevant, easy to understand and bring value beyond coverage with resources for policyholders to proactively reduce their organization’s cyber risk exposures.

CCC Intelligent Solutions partnered with Amica Mutual Insurance Company. From first notice of loss to resolution, Amica will leverage CCC’s advanced AI and mobile solutions to meet the evolving needs of its policyholders. Amica will employ CCC’s AI-powered claims solutions across the claims lifecycle, providing policyholders and staff with a digital channel to conveniently and efficiently achieve resolution. Beginning in the moments following an accident, digital photos of vehicle damage can be captured by consumers and shared through the CCC platform for insurer review.

Related: Who’s using what in P&C insurance: November 1, 2021