Who's using what in P&C insurance: April 1, 2024
Insurance technology news from atNorth, ZestyAI, Ki and more.
atNorth partnered with Nordic IT services corporation, Advania, providing additional capacity at its state-of-the-art ICE03 site in Iceland which opened last year. The expansion to the ICE03 campus allows for further geographical separation of their infrastructure and highlights the business’s focus on data security, not to mention the benefits of redundancy and performance optimization.
Core Specialty partnered with Duck Creek‘s OnDemand subscription on Microsoft’s commercial marketplace to use its existing Microsoft Azure Consumption Commitment. Duck Creek and Microsoft are enhancing customer experience and streamlining transactions for technology-centric insurers such as Core Specialty. As a forward-facing leader in the insurance industry, Core Specialty recognizes the strategic value of acquiring software-as-a-service (SaaS) products through the Azure Marketplace. This approach allows Core Specialty to apply its Duck Creek SaaS fee payments as a credit to its MACC and simplifies the billing process through a consolidated invoice.
ZestyAI partnered with Avoca Risk Underwriting Solutions, a Managing General Agent, focused on a broad range of mixed commercial and habitational properties. Avoca and its subsidiary companies will be using ZestyAI’s Digital Roof™ and Location Insights™ products in their proprietary underwriting workbench to provide crucial property risk data that will improve their risk insight and underwriting process.
Ki partnered with Beazley which included Ki offering additional follow capacity from Beazley syndicate 2623/623 through its digital platform starting April 2, 2024. This is another major milestone in Ki’s journey to simplify and digitize the follow market. Ki has grown significantly since its launch in 2021, expanding its capacity and line size each year. This will bring further value to brokers and their clients, accelerating the adoption of digital follow across the London market.
NEXT Insurance selected Copilot, a tool designed to help agents increase revenue by efficiently serving small micro businesses with customized insurance policies. Similar to other small business owners, insurance agents operate on thin margins and juggle multiple responsibilities. NEXT’s Copilot empowers business owners to quote and bind online without underwriting delays, while providing agents with a streamlined process. This new tool simplifies operations, saving agents valuable time and enabling more profitable sales with small micro businesses. Copilot exemplifies NEXT’s commitment to empowering agents with innovative digital solutions that drive business growth and deliver value to their clients.