"We are very excited about this partnership with Sompo," said David Hanley, VP of business development and operations, ISI. "Sompo is an extremely customer-driven company, and we believe the ISI solution will allow them to provide even stronger service in this niche offering."
ISI said its WebWriter Marine program is designed to enable underwriters, brokers and policyholders to complete marine cargo business over the Internet.
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.
