Who's using what in P&C insurance: September 18, 2023
Insurance technology news from ZestyAI, Cowbell, Origami Risk and more.
ZestyAI partnered with Millennial Specialty Insurance. MSI has successfully utilized ZestyAI’s Z-FIRE model to evaluate property-level wildfire risk for homeowners insurance underwriting and rating in California. Under a new agreement, they will now expand ZestyAI’s cutting-edge climate risk models to all western wildfire states for enhanced data-driven wildfire risk analysis.
Cowbell partnered with Zywave, an industry-leading provider of insurtech solutions. The partnership is powered by Herald, a digital infrastructure provider that connects software developers to commercial insurance carriers through a single API, and leverages Cowbell’s leading technology and individualized coverage options for a superior customer experience through Zywave’s expanding, simple and efficient, API-first interface for quoting commercial and E&S insurance. The collaboration marks the first standalone cyber insurance offering on Zywave’s Hub, which provides MGAs, wholesale brokers and retailers, with quicker access to modernized cyber insurance products.
SecurityScorecard partnered with Measured Analytics and Insurance, the AI-powered cyber insurance provider. The initiative delivers the first cyber insurance premium incentive for Security Ratings. The alliance between SecurityScorecard and Measured Insurance equips organizations with data-driven cyber risk insights to validate their defenses, prioritize investments, and strengthen proactive cybersecurity strategies.
Origami Risk acquired Dais Technology, a provider of no-code insurance technology. The acquisition increases Dais’ market reach and client support capabilities and expands Origami’s innovative suite of property and casualty insurance solutions for managing general agents, insurers and reinsurers. Terms of the transaction were not disclosed.
Bold Penguin partnered with myCOI, enabling myCOI users to seamlessly access additional small commercial insurance needs. myCOI helps companies collect, verify and monitor insurance tracking certificates all in one, easy-to-use platform. myCOI will leverage Bold Penguin’s Exchange and Storefront products, allowing myCOI users to not only track their current commercial insurance certificates within their platform, but also access the right insurance coverage that fits their needs via the Bold Penguin Exchange.
Related: Who’s using what in P&C insurance: September 11, 2023