InsPro says implementation of the system will include the entire InsPro Enterprise suite to consolidate Physicians Mutual’s three existing policy administration systems to a single platform in an InsPro hosted environment.
The system is designed to enable Physicians Mutual to better manage multiple product lines, and help the company quickly deploy new products, according to InsPro.
The two companies, units of Japan-based Tokio Marine Holdings Inc., said the decision will affect 12,556 policies with premiums of $11.3 million.
Startup life insurance brokerage launched in 2021 adds new capability as it expands its reach of carriers and agents using the service.
Four strategies for insurance companies aiming to leverage AI's potential.
El Nino, which brings dry and hot weather to Southern Africa, has decimated harvests of corn across the region.
Insurers embedding coverage in other venues are finding the practice adds risks, and agents point to their value for interpreting coverage to policy buyers.
Allstate found that customers who use Drivewise are 25% less likely to experience a severe collision than those who don't.
