Who's using what in P&C insurance: February 27, 2023
Insurance technology news from Duck Creek Technologies, Municipal Property Insurance Company, Two Sigma Insurance Quantified and more.
Duck Creek Technologies partnered with GAINSCO Auto Insurance, a leading provider of non-standard auto insurance products. Duck Creek’s customer-centric and low-code software enables GAINSCO to increase operational efficiencies to best serve its customers during its period of significant expansion and provides a new distribution model to more effectively manage this expansion from the current 19 states in which it actively writes policies to more than 40 states over the next few years.
Municipal Property Insurance Company selected Origami Risk’s multi-tenant SAAS P/C platform for underwriting, billing and claims administration. In addition to gaining speed and efficiency in its underwriting, billing and policy and claims administrative processes, MPIC will leverage the various risk management capabilities available on Origami’s platform to provide loss control and other risk-related services to the growing number of municipalities it serves throughout Wisconsin, as well as their insurance agents and brokers.
International Transportation & Marine Agency, LLC selected TSIQ’s integrated underwriting workbench, SubmissionIQ to power its underwriting practice. The sheer volume of submissions received by ITMA, coupled with the necessity to turn around decisions in a timely, consistent manner, drove the decision to partner with TSIQ. The SubmissionIQ workbench, which is live and deployed across ITMA’s underwriting team, significantly reduces manual data entry while surfacing critical information, allowing them to respond quickly to submissions with high confidence in the data behind their decisions.
Two Sigma Insurance Quantified partnered with NominoData, a solutions company helping clients with worldwide identity, compliance and risk management. Through this partnership, NominoData’s OFACplus dataset will now be available to customers of TSIQ’s underwriting workbench solution, SubmissionIQ. By incorporating this data directly into their workflows, firms will improve their ability to detect fraud and strengthen risk management earlier in the underwriting process.
Related: Who’s using what in P&C insurance: February 20, 2023