Who's using what in P&C insurance: September 5, 2022
Insurance technology news from Markel International, Beazley, Gallagher and more.
Markel International partnered with MIS to accelerate its incident and claims responses following major loss events, including natural catastrophes. MIS empowers insurers with trusted intelligence to respond to catastrophes. GEO blends AI and machine learning with expert analysis to deliver a detailed digital representation of global perils at speed, answering with confidence what was damaged, when and by what.
Tinubu, a provider of technology for the surety and credit insurance industries, announced that its Tinubu Surety Solution for Brokers and Agents platform is now being used by 50 percent of the annual $7 billion surety bond market in the U.S. In February of 2022, the technology company migrated 100 percent of its 5,000 agent users from 250 agencies to a new, fully digital bond management platform after acquiring SuretyWave in December 2020.
Beazley, partnered with Paragon, will provide faster service, with no change to the actual quality of cover, limits or specific weather perils. Weather Guard will continue to be written on Beazley’s admitted paper and Weather Guard claims will still be handled by their award-winning claims team.
Gallagher partnered with Novidea to implement and tailor its insurance broking platform for its specialty client base. The platform will be pioneering in the market, revolutionizing client service and covering every stage of the broking lifecycle, from enquiry and quotation to policy issuance, claims and settlement.