Who's using what in P&C insurance: May 6, 2024
Insurance technology news from Bold Penguin, Neptune Flood, Cytora and more.
Bold Penguin partnered with Salesforce, launching Bold Penguin Terminal and SubmissionLink™ on Salesforce AppExchange, a leading enterprise marketplace for partner apps and experts. The new product will empower customers to streamline their commercial insurance quote and bind process. Founded in 2016, Bold Penguin’s integrated digital solution platform simplifies commercial insurance for carriers, agents and insureds.
CLARA Analytics partnered with Origami Risk, the industry-leading risk, safety and insurance software as a service technology firm. The two companies have deepened the integration between their products and aligned their operations to offer a seamless solution to help self-insurers, brokers and carriers reduce costs and accelerate AI adoption.
Indiana Farmers Insurance selected CCC Intelligent Solutions Inc. to leverage its industry-first AI-powered CCC® Estimate – STP solution. Estimate-STP uses advanced AI and insurer-driven rules to automatically initiate and populate detailed and actionable estimates in seconds. In market with 15 insurers, including seven of the top 10 carriers based on direct written premiums, and representing 50% of U.S. auto claims volume, CCC Estimate – STP offers line level estimates from photos without the need for human intervention.
Dalmia Transport & Logistics has selected Roadzen‘s proprietary ADAMATICS technology platform, DrivebuddyAI, for its fleet operations. Roadzen’s strategic partnership with Dalmia will span five years. The selection of Roadzen’s technology was finalized after a comprehensive three-month validation process of DrivebuddyAI by Dalmia.
Neptune Flood acquired Charles River Data, a renowned Boston-based data science consulting group. This strategic move aims to bolster Neptune Flood’s already cutting-edge Triton underwriting system through advanced data science, machine learning and artificial intelligence capabilities. This acquisition marks a significant milestone in Neptune Flood’s growth strategy, following a series of technological innovations aimed at improving customer experience and operational efficiency.
Cytora partnered with SambaSafety, the premier driver risk management platform in the U.S. This collaboration aims to transform how insurers assess driver-related risks by integrating comprehensive driving data into the underwriting process. The partnership will allow commercial insurers to access a richer dataset, including real-time motor vehicle records, traffic court data and telematic insights directly through Cytora’s platform. By leveraging SambaSafety’s extensive database, insurers can perform more thorough evaluations of driving risks, enhancing their ability to profile and segment high-risk drivers effectively.