Who's using what in P&C insurance: January 30, 2023
Insurance technology news from kWh Analytics, Branch, Cognizant and more.
kWh Analytics partnered with Aspen Insurance to launch their highly anticipated property insurance for renewable energy assets. This new product, which provides coverage against physical damage for solar and other renewable projects, introduces much-needed capacity to a rapidly growing industry at a time when traditional carriers are tightening their portfolio exposure.
Branch partnered with Verisk to improve the customer experience and lift conversion rates by integrating granular reliable data on household risk from Verisk. With Verisk’s LightSpeed for Personal Lines platform as part of its tech-stack, Branch delivers reliable, bundled auto and homeowners quotes in seconds, requiring only a name and address. Branch’s strategy embraces a new economic model, supporting profitable growth and optimized workflows.
Guidewire selected ACORD Solutions Group’s ADEPT with its recently launched Guidewire for the London Market. ADEPT will allow Guidewire’s customers to seamlessly send and receive ACORD accounting and claims transactions with partners leveraging Lloyd’s Blueprint Two Fully Digital Services, as well as existing EBOT/ECOT-enabled organizations such as members of the global reinsurance Ruschlikon initiative.
MSIG Holdings selected One Inc’s ClaimsPay platform to transform the company’s outbound payment process. The selection, which will represent one of the largest ClaimsPay implementations for a globally held client to date, will help MSIG diversify its payment options as well as rationalize its stateside payments infrastructure and associated costs.
Cognizant partnered with CoreLogic, global property information, analytics and data-enabled solutions provider. This new agreement features expansion of Cognizant’s services and anticipated value for CoreLogic, leveraging Cognizant’s digital transformation expertise particularly in cloud migration, automation and industry-specific platform innovations; significant commitment to innovation and automation expected to benefit CoreLogic through lower technology and operations costs over the lifetime of the agreement; and strong focus on driving customer experience improvement through operational excellence.
Related: Who’s using what in P&C insurance: January 23, 2023