Who's using what in P&C insurance: June 12, 2023
Insurance technology news from Insurity, Ledgebrook, AMA and more.
Insurity partnered with e2value to offer promotional pricing for e2Value’s valuation and replacement cost calculations for insurance organizations. e2Value has been a long-term partner of Maprisk, an Insurity company, and has a proven record of helping insurance organizations better manage risk and minimize financial losses by providing access to the most up-to-date replacement costs for commercial and residential structures.
Ledgebrook selected Federato‘s RiskOps platform to deliver the fastest, most consistent underwriting and quoting experience for its wholesale brokers. Insurance brokers often have to endure long wait times to get a quote due to time-consuming, manual underwriting processes. While raw speed to quote is critical, underwriting discipline and consistency are also key to building a strong book of business.
Turbo Insurance Group selected insured.io LeadGen Platform. By collaborating with the Turbo team, insured.io was able to bring the project to launch in record time, complete with a direct connection into the company’s EZ Lynx agency management system for direct quoting of homeowners’ insurance products from multiple carriers across the U.S.
AMA selected Guidewire’s InsuranceSuite on Guidewire Cloud to power their core business, simplify IT operations, adapt quickly to changing market demands and keep pace with customer expectations. AMA originally selected InsuranceSuite in 2015 as a self-managed installation to help it modernize its core system infrastructure and operations in order to better address the evolving needs of its agents and customers.
Ledgebrook selected Socotra‘s Connected Core to target the underserved wholesale broker market. The end-to-end platform empowers Ledgebrook to redefine speed and service in the US wholesale broker market by offering a faster and simpler quoting experience, as well as best-in-class pricing and risk selection while streamlining operations, enhancing customer experiences and accelerating new product launches.
QBE North America selected Guidewire‘s ClaimCenter on Guidewire Cloud to power claims management for its insurance operations and enhance the value delivered to its trading partners and customers. The company plans to implement Guidewire simultaneously across all lines of business.
Openly partnered with Hosta.ai to create a superior claims inspection journey. Openly has seen cycle time reduced by over 25% and allocated loss adjustment expenses reduced by more than 50% on average thanks to the Hosta a.i. technology. Policyholders have also given a thumbs up to the technology, with net promoter scores 8 points higher when Hosta a.i. is used in the inspection process.