Who's using what in P&C insurance: January 29, 2024
Insurance technology news from TransRe, Cognizant, CFM Insurance and more.
TransRe utilized new AI models in ACORD Solutions Group’s data exchange platform ADEPT, which are built around various broker and cedent accounting and claim document formats. TransRe will utilize AI models in ADEPT and its integrated ACORD Transcriber data extraction service to receive ACORD Global Reinsurance and Large Commercial (GRLC) messages from nondigitally enabled brokers and cedents. The models are part of ADEPT’s full library of more than 50 AI models, which were created to support the digitization of data from a range of document formats exchanged between (re)insurance stakeholders.
EmPRO Insurance Company selected Origami Risk’s multi-tenant software-as-a-service platform to streamline its policy, billing and claims processes and enhance its service to policyholders and brokers. Origami’s platform will bring automation and speed to EmPRO’s medical professional liability insurance line as the insurer continues to expand throughout the U.S. Northeast.
Cognizant successfully implemented Guidewire‘s BillingCenter for the regional property and casualty insurer FCCI Insurance Group. The new system will improve FCCI’s ability to continually provide cutting-edge services to its agency partners and policyholders. Cognizant led the project for FCCI to implement Guidewire BillingCenter on Guidewire Cloud.
IMA Financial Group and Vouch partnered and merged IMA’s brokerage expertise with Vouch’s innovative coverage. The alliance disrupts the landscape for innovative tech companies underserved by legacy insurance products. Until now, Vouch has operated exclusively as a managing general agent, distinguished by its proprietary coverages and direct-to-startup distribution model. IMA is its first retail brokerage partner.
CFM Insurance selected sureti, a disbursement platform purpose-built for property claims. This strategic implementation positions CFM to offer its policyholders a completely paperless and lenderless settlement experience, setting a new standard in streamlined and efficient claims processing.
Related: Who’s using what in P&C insurance: January 22, 2023