Aon, global professional servicing firm, announced a partnership with HyreCar, a car sharing marketplace as its broker of record. The companies will enhange risk management products to provide growth for consumers. “We are particularly excited to begin to set the course for insurance services within our sector, leveraging tools like driver risk scoring and telematics to proactively manage risk and costs for our stakeholder,” shared Scott Brogi, HyreCar’s CFO. “Digital economy companies require sophisticated insurance solutions very early in their lifecycle. The inherent complexity of the risk, regulatory hurdles, and extreme growth require an experienced team designed to meet the unique needs of this industry,” adds Aon’s Digital Economy Practice Leader Jillian Slyfield.
Orchid Insurance has signed on with Betterview to gain access to the insurtech’s remote property intelligence platform. Bryan Schofield, senior vice president and head of commercial lines at Orchid Insurance, says the tech will provide quick quoting and binding issuance for coverage including Business Owner Policies, Monoline Property Policies, Wind-Only, Lessor’s Risk, Mobile Home/RV Communities and more. Along with the improved technology, the collaboration will also update reinsurance, underwriting, and aggregation models more frequently. Schofield shares, “When we started down the path of digitizing, we realized that a platform that offered high-quality aerial imagery and analytics was critical to the accuracy and speed of our underwriting processes."
TransUnion and the Floow partner up to help bring telematics insights to increase more opportunity for insurers amid market shifts. Floow’s four telematics solutions capture real-time driving behavior to help insurers improve pricing and customer experiences. They include FloowDrive, FloowFleet, FloowKit and FloowScore. Mark McElroy, executive vice president and head of TransUnion’s insurance business unit says, “We are excited to partner with The Floow and introduce insurers to information that can improve the overall customer experience while also safeguarding businesses against market shifts both now and in the future.”
Munich Re Automation Solutions, insurtech subsidiary of the Munich Re Group collaborates withSun Life to digitally enhance life insurance with automated underwriting solutions. Munich Re and Sun Life latest collaboration will give access to various modules from Munich Re Automation Solution’s automated underwriting and advanced analytics tool ALLFINANZ for Sun Life advisors and clients in Canada. The partnership also increases digital change in the life insurance industry, recognizing the demand for faster, more accurate quotes, more data-driven solutions, and flexible underwriting processes to serve a wide variety of clients and allowing them to tailor their solutions to specific needs. “As we move to an even more robust digital experience, this next generation of analytics tools will help Clients get the coverage they need quickly. We are pleased to join forces with Munich Re Automation Solutions and accelerate the underwriting journey for Clients and advisors,” says Norm Leblond, Vice-President, Chief Underwriter & Claims Risk Officer at Sun Life.
Berkshire Hathaway GUARD Insurance Companies announces partnership with IMS Trak Global Group to complete an insurance telematics program for commercial fleet customers. The collaboration will provide safety-focus insurance telematics solutions in TrackMRI programming. IMS DriveSync’s connected car and telematics platform is set to provide an easy-to-use fleet management portal, device logistics support, data collection, scoring, fleet behavior assessment and program analytics, as well as hands-on customer support to fleet manager customers. Mike Hynes, Vice President of Commercial Auto at Berkshire Hathaway GUARD shares, “Our fleet manager customers have limited time for research and system or vendor selection, and yet are flooded by technology solutions that only offer a ‘one-size-fits-all’ approach without any real identifiable differentiation.”
MassMutual’s LifeScore Labs and Antara Health partner to explore risk scoring in healthcare to improve patient experience well achieving better health outcomes by generating data needed to create affordable life and health products for the middle class. The companies will use LifeScore Med360 to deliver new insight into comprehensive mortality risk scores in emerging markets, hoping to create more affordable life and health products within those markets through its experimental collaboration. The collaboration uses Antara Health virtual health navigation and AI technology to scale patient-centered healthcare. “We believe that this technology, originally developed for the life insurance industry, will provide Antara with efficient, clear risk assessments, while helping people live longer, healthier lives,” Michael Gallary, COO & Head of LifeScore Labs says.
Zesty.ai announced the launch of Z-3D, which brings a new generation of AI-based insights to insurers for improving the speed and accuracy of nearly every aspect of the property insurance lifecycle. The AI technology provides a powerful dataset for training AI on how to identify the growing climate risks to man made structures. Zesty.ai 3D modeling allows the company’s AI models to dynamically and accurately assess the impact of natural disasters, such as wildfires, severe convective storms and flood events as well as simplifying the insurance application process. "The coverage and accuracy of Z-3D shows our commitment to meeting this challenge, and even at 150 million properties, it is only the first step,” says Attila Toth, Zesty.ai co-Founder and CEO.