Capital markets

Australian insurer will leverage startup's machine learning platform to automate commercial underwriting.

Solaria Labs has helped the insurer bring new ideas to market that impact all corners of its business, says innovation VP.

The life carrier is keen on finding the startups that will define insurance user experience and distribution in the future, says managing director Doug Russell.

SVP Jerry Gupta notes the emerging technology has increasingly been used in distribution and claims straight-through processing.

The insurtech intends to make its cloud-based distribution platform available to carriers globally.

Commercial insurer joins Des Moines, Iowa-based program as investor and program mentor.

There are opportunities for carriers of all sizes to get involved, as many startups looking for pilot customers will lower costs to get their foot in the door.

Insurers, municipalities and venture firms are teaming up to identify winning startup technology companies and develop effective solutions for the industry.

Ten to 12 startups will be accepted into the three-month program each year and work out of the Upward Hartford WeWork space.

Carriers should partner with upstart companies to speed digitalization, consultant adds.