Who's using what in P&C insurance: February 21, 2022
Insurance technology news from Zendrive, GeoX, Five Sigma and more.
Zendrive partnered with AXA XL, provider of global commercial insurance and reinsurance to enterprises of every kind and size. Zendrive’s mobility risk intelligence will allow commercial fleet managers to provide more consistent feedback to drivers and operators to improve overall driving safety and performance while mitigating the associated risks and improving site safety and road safety for everyone. AXA XL Construction customers will now benefit from unique offerings, including driver coaching and collision detection through a simple mobile app integration.
State Farm® partnered with Ford to launch Drive Safe & Save™ Connected Car for customers with eligible connected Ford or Lincoln vehicles, to benefit from usage-based insurance. State Farm customers with eligible connected vehicles can opt into the State Farm UBI program, Drive Safe & Save, which adjusts premiums to an individual vehicle’s mileage and customer driving behavior.
GeoX partnered with Sompo Holdings Inc., Sompo Japan Insurance Inc., and Sompo Risk Management Inc., specialty providers of property and casualty insurance and reinsurance, with operations in the U.S. and 80,000 employees in 228 cities in 30 countries. This partnership will support Sompo Japan as it develops an automated underwriting methodology utilizing state-of-the-art AI technology.
Five Sigma partnered with Medlogix, LLC, a national leader in U.S. medical claims management solutions. This innovation connecting the two platforms will help insurers to improve decision making, maximize efficiencies, increase ROI and enhance outcomes in medical claims management. The partnership with Medlogix provides Five Sigma U.S.-based customers with an out-of-the-box integration to itemize, assess and aggregate special and general damages for bodily injury claims – to ensure proper, timely settlement and accurate reimbursement while complying with regulations that differ state-by-state.
Related: Who’s using what in P&C insurance: February 14, 2022