Nationwide partners with DigitalOwl; Progressive Fleet rebrand: Insurtech news

February 15, 2024 6:39 AM

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Nationwide is partnering with DigitalOwl to streamline life insurance underwriting. The DigitalOwl platform transforms large amounts of medical data into summaries using AI to organize critical information. Underwriters will be able to focus more on medical data and less on administrative work. This will likely evolve into chat functions within medical records, according to the press release.

Erin McClintock, director of underwriting innovation for Nationwide's Life insurance business, said in a statement: "By partnering with DigitalOwl, Nationwide is bringing in an engaging AI technology for our underwriters that ultimately benefits our potential members. This partnership perfectly aligns with our commitment to digitalization, automation and the use of generative AI in the life underwriting process."

Protective Insurance rebranded as Progressive Fleet & Specialty Programs. Progressive acquired Protective in 2021 and the brand name change aims to benefit agents and customers, according to the press release.

Karen Bailo, Progressive's commercial lines president, said in a statement: "This announcement was part of our strategy when we first acquired Protective almost three years ago. Our vision has come to fruition with this announcement enabling us to promote our full suite of capabilities in the transportation market."

Acrisure launches a new aerospace division that will be led by managing partner Jason Riley.

Greg Williams, co-founder, chairman and CEO of Acrisure, said in a statement: "The aerospace industry has seen unprecedented risk and opportunity in recent years. Acrisure is doubling down on our expertise and ability to serve these clients, whose needs are often complex and multi-faceted. This is another step in our client-focused transformation and I'm confident Jason and team will provide both content expertise and the outrageous service our customers expect and deserve."

The Society of Actuaries (SOA) and Milliman announced the completion of the Climate Change Risk Certificate Program, which includes five required courses and one specialty course. The topics covered include risk modeling and governance.

SOA CEO Greg Heidrich, said in a statement: "We are excited to announce that this certificate program with Milliman and the SOA is now fully available for actuaries and other professionals working with climate risk topics. Our members will benefit from these timely and detailed resources to hone their knowledge in managing climate risk."

Sertis, a managing general agency in the multi-family insurance market, has expanded into 32 states across the U.S. The company leverages a proprietary risk assessment technology that has been integrated into a property management platform, allowing agents and brokers to provide competitively priced coverage across multiple locations for property owners.

Sertis CEO Mark Gardella says in a statement, "Our continued expansion is a significant stride in our mission to revolutionize muti-family insurance in the U.S. Our advanced technology and property management platform equips brokers and agents to overcome long-standing challenges of premium affordability and stability, ensuring top-tier coverage for professionally managed properties."

The products are available in: Arizona, Colorado, Connecticut, Delaware, District of Columbia, Georgia, Idaho, Illinois, Indiana, Kentucky, Maine, Maryland, Michigan, Minnesota, Montana, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, Washington, Wisconsin and Wyoming. The company anticipates a full national expansion by 2026.

Increasing insurance rates and fewer options have made obtaining coverage a challenge for Florida homeowners, but VIU by HUB, an omnichannel insurance brokerage platform is making that search a little easier. The company has partnered with HoneyQuote, a Florida digital insurance agency, to expand the carrier options available in that market.

"National carriers have largely pulled out of Florida, leaving many homeowners scrambling to find new coverage," said Bryan Davis, EVP and head of VIU in a statement. "Through our partnership with HoneyQuote, VIU is doubling down on our commitment to bring innovation to a complex market and help mitigate the insurance protection gap."

Freddy Seikaly, CEO of HoneyQuote, adds, "Our collaboration heralds a new era where Floridians can seamlessly navigate insurance options and guidance, thanks to the innovative solutions crafted through this partnership."