Who's using what in P&C insurance: October 3, 2022
Insurance technology news from Duck Creek Technologies, CoreLogic, CoverTree and more.
Duck Creek Technologies partnered with Coaction Specialty Insurance Group, Inc. to upgrade the commercial specialty insurer’s core policy, billing and commercial templates from on-premises to cloud-based software as a service using Duck Creek OnDemand. Duck Creek’s technology suite will efficiently consolidate Coaction’s technology solutions on Microsoft’s Azure platform to increase its speed to market and ease of connecting with customers and industry partners.
State Volunteer Mutual Insurance Company selected Origami Risk’s multi-tenant SAAS P/C platform to support its policy administration, claims management and billing processes. Origami Risk offers a full suite of end-to-end, integrated SaaS solutions for policy, rating, billing, loss control and claims administration, reporting and analytics, along with a comprehensive digital engagement experience for all internal and external stakeholders.
CoreLogic partnered with SafeGraph to strengthen its geospatial identification and modeling capabilities. SafeGraph’s Places dataset provides CoreLogic clients with improved property identification through more accurate and granular details about a specific point of interest. Placekey, a free and universal standard identifier for any physical place that can be shared easily across organizations, is now integrated with CoreLogic’s Integrated Property number — a unique identifier that links all instances of that property across data sets. With CLIP, real estate industry professionals can gather more geographic data, standardize information across platforms and better understand a property’s exact location to help them make more informed business decisions.
CoverTree partnered with Socotra to launch easy and affordable insurance for owners, renters and landlords of manufactured homes. With Socotra, CoverTree can now automate 92% of its applications with straight-through processing, enabling their customers to purchase a policy online in less than three minutes and save up to 40% in premiums.
Germania Insurance selected One Inc’s ClaimsPay and PremiumPay products for a fully integrated and digitized customer payment disbursement experience. The implementation will create a more synchronized company workflow by employing One Inc’s inbound and outbound functionality, and the promise of consolidating all of Germania’s payment activities onto one platform.
Related: Who’s using what in P&C insurance: September 26, 2022