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Mercury Insurance has launched its usage-based insurance mobile app, MercuryGO, in Oklahoma. This is the second state, after Texas, in which the program is available. Enrollees get a 5% discount for participating; that can go up to 10% for teen drivers. Total discounts can go up to 40%. The app gives real-time feedback about driving behavior, based on excessive speeding, hard braking, phone motion, screen interaction, and road type.
WeFox, one of the most valuable insurtechs in Europe, has deployed a pricing engine from Akur8. The digital broker will use the new technology to automate risk and demand modeling. “Akur8 allows for a significant time gain in the modeling process, on top of resulting in higher model performance than with the previous solution used. The tool is very intuitive and user-friendly. Some native features, such as the geographical zoning, bring a lot of value and are very easy to use, with a nice visualization”, says André Kühn, Insurance product lead at wefox Insurance.
Corvus Insurance, an insurtech providing commercial insurance products powered by AI, has appointed Lori Bailey as chief insurance officer and Kori Johanson as general counsel. “We’re happy to welcome Lori and Kori to our growing team that continues to bring together some of the most talented individuals from the insurance and technology industry,” said Phil Edmundson, Founder and CEO of Corvus Insurance.
Cover Genius has named Dave Brune president for the Americas, responsible for strategic partnerships, finance and corporate development. Most recently, Brune was president and CEO of Digital Partners North America, a Munich Re company. Before that, he was at Prudential Property & Casualty Insurance Company, Great American Insurance Company and American Modern Insurance Group. "As founder of the highly regarded Digital Partners unit of Munich Re, which launched dozens of global partnerships in multiple lines of insurance, Dave’s leadership and experience at one of the industry’s most successful corporate venture funds will be an asset in helping Cover Genius reach its mission to protect all the customers of the world’s largest digital companies,” said Angus McDonald, Cover Genius CEO and Co-founder.