Roundup: Zurich names group chief data officer, Farmers debuts in North Carolina

Published August 26, 2021 7:15 AM

Updated August 26, 2021 7:15 AM

1 Min Read

The Zurich Insurance Group AG's headquarters stand in Zurich, Switzerland, August 6, 2015. Zurich Insurance is raising financing ahead of a possible takeover offer for RSA Insurance Group that could come as early as next week, according to people familiar with the matter. — The Zurich Insurance Group AG's headquarters stand in Zurich, Switzerland, August 6, 2015.

The following news stories were curated and condensed by the Digital Insurance team.

Zurich Insurance Group names new group chief data officer

Peter Kasahara was named as group chief data officer at Zurich Insurance Group. The position will oversee data management and drive Zurich’s digital transformation. Kasahara was previously the managing partner for PwC Digital Intelligence and various other leadership roles at IBM. Kasahara will start in October. “Peter is an accomplished and highly experienced data intelligence and digitalization professional and I am excited to welcome him to the company,” said Ericson Chan, group chief information and digital officer, in a press release. “As we advance our customer-focused strategy, we are increasingly putting our customer’s data and insights to work in a responsible, transparent and ethical manner to improve customer experience. Peter’s appointment is another step towards our goal of taking a leadership position in building trust in how global companies use data and technology for good.”

Farmers debuts policies in North Carolina

Farmers Insurance launched a range of customizable products in North Carolina on Aug. 23. Customers in the state can access quotes and purchase a range of products in a direct-to-consumer model that offers a digital-first experience through the Farmers mobile app and website. The model offers a range of auto, home, and renters insurance with optional endorsements like rideshare coverage. This expansion is the thirteenth state where Farmers have offered its branded products. "With our focus on innovating for our customers and providing a streamlined and outstanding customer experience, we're proud to deliver our digital-first products to customers in North Carolina through our Farmers Mobile App and Farmers.com," said Keith Daly, president of personal lines for Farmers Insurance, in a statement. "Our expansion into North Carolina marks yet another major step in Farmers strategic growth plans and builds upon Farmers commitment to making our competitively priced products available to more people across the United States."

Breeze hires head of distribution

Breeze, an online insurtech broker, has appointed Andrew Hamill as head of distribution. Hamill, in the new role, will diversify product distribution channels and scale distribution by offering Breeze’s online platform to agents, brokerage general agencies and independent marketing organizations. Hamill previously worked at Legal & General America and held leadership roles at Genworth Financial and Prudential Financial. "As we open up Breeze to agents and advisors, we're excited to have Andrew joining the team to lead our distribution efforts. Disability insurance is incredibly important coverage, but it has been vastly undersold due to the complexities of the product, overall affordability and underwriting challenges. Andrew's experience and passion for insurance is going to help get our digital products into the hands of agents and advisors around the country faster," said Colin Nabity, CEO & co-founder at Breeze, in a press release.

Guidewire acquires HazardHub

HazardHub, an insurtech provider of API-driven risk insights, was acquired by Guidewire Software, a software provider for property and casualty insurers. HazardHub is used by insurers to underwrite and manage risk. “Underwriters, agents, and claims adjusters will power smarter decisions with risk insights embedded directly into core workflows,” said Mike Rosenbaum, CEO at Guidewire Software, in a statement. “Embedding HazardHub’s comprehensive property risk data service into Guidewire’s industry-leading platform will drive tremendous value for our customers and the P&C insurance industry.”

Empathy partners with New York Life

New York Life has partnered with Empathy, a platform that supports families logistically and emotionally after a death. The Empathy mobile app is available to New York Life beneficiaries to help simplify and automate administrative tasks involved in the death of a family member. “This work with Empathy as a concept partner continues New York Life’s long-standing tradition of innovating on behalf of our policy owners and their loved ones,” said Sean Madgett, head of business development for New York Life Ventures, in a statement. “We strongly believe in the role that trusted human guidance, empowered by technology, plays in delivering long-term financial security and peace of mind. There is significant opportunity in embracing new technologies like Empathy that are designed to help families put their love into action.”

Mobility insurance platform announced

DigiSure announced the launch of its embedded protection platform. The company offers individualized micro-insurance policies. DigiSure is co-founded by three-time founder and ex-Yahoo! executive, Mike Shim, CEO, and the former VP of innovation at Liberty Mutual and experienced insurance executive Paul Smith, COO. “The growing popularity of non-owned vehicles is leaving renters, merchants and vehicle owners alike more vulnerable to fraud, which is why we’ve built a frictionless solution that upholds the highest trust and safety standards for all parties involved,” said Shim, in a statement. “We're leading with data and customer-centric technology to enhance the safety and accessibility of peer-to-peer vehicle markets like RVs, motorcycles, and EV subscription services, which have seen skyrocketing demand as a result of the pandemic.” The company also announced $13 million in funding led by Morado Ventures to help grow and scale operations.

Mosaic Insurance and DXC Technology launch platform

DXC Technology and Mosaic Insurance, a specialty insurer, launched an insurance technology platform to increase how fast specialty insurance is sold, underwritten and serviced. The platform automates interaction using machine learning algorithms, blockchain infrastructure, data transparency, robotics and artificial intelligence. “Legacy-free technology is fundamental to Mosaic’s model, and our collaboration with DXC represents the first insurtech operating platform of its kind. We believe it gives us a tremendous advantage,” said Mitch Blaser, Mosaic’s co-founder and co-CEO, in a press release. “This open platform also delivers the benefit of leveraging the latest technology that’s very modular. You can look at what’s available in the market, put it on your platform because it suits your needs, and modify it easily. Overall, this allows for better decision-making and lower expense ratios.”

Cenata Limited selected by Prosight

Prosight Global, a specialty insurance holding company, selected Cenata Limited, an insurtech software provider, for reinsurance solutions. Cenata Sure is a reinsurance management solution that provides real-time analysis. "We are extremely excited to be working with ProSight,” said Nick Freer, managing director of Cenata, in a press release. “We respect and admire their passion as innovators and visionaries for the insurance industry. Their vision for how technology can deliver a commercial competitive edge seamlessly aligns itself with our goals for Cenata SURE. ProSight wants to set a pace that their competitors cannot sustain, and we are 100% supportive of that strategy."

Pie Insurance acquires Western Select

Pie Carrier Holdings, a subsidiary of Pie Insurance, an insurtech specializing in workers’ comp and small business, announced regulatory approval to acquire Western Select Insurance Company, a provider of property and casualty insurance, from a subsidiary of Premia Holdings. “Since Pie was founded in 2017, our goal has been to offer the entire small business insurance experience to our customers as a full-stack insurance carrier,” said John Swigart, co-founder and CEO of Pie, in a press release. “Receiving regulatory approval to acquire Western Select Insurance Company is a key milestone on the path for Pie to write our own policies, and to bring our seamless commercial insurance experience to even more small businesses across the country.” When the deal closes, Western Select will be renamed Pie Casualty Insurance Company.

Insurance Technologies integrates RGAX Aura Next

Insurance Technologies, a sales and regulatory solutions provider, has partnered with RGAX to integrate Aura Next with the FireLight Sales Platform to deliver automated and accelerated underwriting to life insurance sales. Aura Next is now available to integrate with FireLight to offer underwriting decisions upfront with the sale. The two programs create an efficient, accelerated and simpler purchasing experience for underwriting agents. “The partnership with RGAX enables a truly automated underwriting experience and is an essential element of Insurance Technologies’ mission to collaborate with innovators in a way that brings benefit to carriers, distributors, agents and, ultimately, consumers,” said Katherine Dease, chief product officer of Insurance Technologies, in a press release. “Aura Next and FireLight solutions complement each other, offering our mutual clients and the life insurance industry a simplified underwriting data collection, decision and application sales experience within one solution.”

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