Who's using what in P&C insurance: May 2, 2022
Insurance technology news from Origami Risk, Coalition, Onuu and more.
Origami Risk partnered with Canopius USA, specialty (re)insurer. The agreement provides Canopius USA with access to Origami’s multi-tenant platform for underwriting, billing and claims administration. Origami’s single platform will support two of Canopius USA’s core propositions — its specialty domestic excess and surplus lines carrier and its Lloyd’s platform — which includes several products offered on an admitted basis via admitted carrier partners. The platform will support business written through both the delegated and open market distribution channels.
Coalition partnered with Vantage to back its U.S. excess cyber program through its Vantage Risk Specialty Insurance Company. Coalition’s Active Cyber and Active Executive Risk products combine insurance coverage with technology to help organizations assess, protect and respond to digital risk. This data-driven approach to underwriting and active monitoring of threats has resulted in Coalition policyholders experiencing 70% fewer claims than the rest of the insurance market.
Onuu partnered with Visa and AAA Life Insurance. These partners are laying the foundation for Onuu’s offerings, which will include access to products and services for the approximately 166 million Americans currently underserved by the country’s financial system. Onuu is designed with Americans of modest means in mind, offering a personalized membership with access to life insurance, credit and savings. Democratizing access to financial security is at the core of Onuu’s mission, and this inaugural list of partners represents the company’s commitment to advancing that vision for its members.
Xceedance partnered with the Israeli Insurtech Accelerator, an organization which leads and promotes the insurtech ecosystem in Israel. The alliance positions Xceedance as a potential investor and partner for nascent startups within IIA’s roster of insurtech organizations. IIA-affiliated firms can work with Xceedance as a proven services and solutions provider to the global insurance industry.