Who's using what in P&C insurance: August 14, 2023
Insurance technology news from FloodFlash, Victory Insurance, EigenRisk and more.
FloodFlash partnered with Hiscox to offer sensor-enabled parametric flood insurance. Hiscox is already an active participant in the U.S. flood insurance market, and as a capacity provider for FloodFlash will support the market appetite for parametric as an efficient option for catastrophe covers. They join Munich Re, whose parametric expertise Hiscox will complement with market-leading knowledge of launching successful flood products in the U.S.
National Indemnity Company selected One Inc’s inbound payments solution PremiumPay to deliver a faster and easier payment experience for their policyholders. NICO becomes One Inc’s first insurer to select Guidewire BillingCenter and Guidewire PolicyCenter on Guidewire Cloud as its core system. The Guidewire platform is designed to offer the flexibility and agility to design and deliver new products to best fit policyholder needs and support enhancements to the policyholder experience.
Victory Insurance selected Insurity‘s Sure Claims Payments, allowing near instant delivery of claims payments and increased payment optionality for policyholders. This successful implementation of Sure Claims Payments enables Victory Insurance to dramatically improve the claimant and vendor experience and manage claims payments through issuance with an integrated digital payment platform.
EigenRisk partnered with Tensorflight to make Tensorflight’s artificial intelligence imaging technology available through the EigenPrism catastrophe risk management platform. Tensorflight uses satellite, aerial and ground-level imagery to automate commercial and residential property inspections and claims processing, helping underwriters with risk assessment based on accurate and up-to-date data.