HomeCar InsuranceWho's using what in P&C insurance: May 1, 2023

Who’s using what in P&C insurance: May 1, 2023

Insurance technology news from Majesco, Novo Insurance, Insurity and more. (Credit: TippaPatt/Shutterstock)

Majesco selected One Inc’s  ClaimsPay to offer fast and secure digital claims payments through customers’ preferred channels and methods. This expands an already strong partnership with One Inc bringing an out-of-the-box integration and an online payment capability in Majesco EcoExchange to the Majesco Billing for P&C platform. This enhancement delivers a comprehensive, inbound-outbound payment processing solution for Majesco customers across the entire P&C suite.

Global Risk Consultants and Archipelago partnered to utilize artificial intelligence to provide risk managers and owners of large commercial real estate portfolios actionable insights into their property risk data to improve efficiency, increase transparency and drive improved financial outcomes. The partnership will allow companies to utilize AI to enrich geo-coding, COPE, cat-risk data and other property attributes with the ultimate goal of impacting insurability on the property and portfolio level. Clients will also be able to monitor risk recommendations, prioritize data improvements, track changes to locations in real-time and benchmark against the competition.

Verisk acquired Krug Sachverständigen GmbH, a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe. SV Krug streamlines motor claims with digital solutions that enable insurers to quickly obtain claim photos and information from policyholders, analyze those claims and deliver payments to policyholders.

Novo Insurance selected Duck Creek Technologies, as its technology platform of choice for policy, billing, insights and data hub solutions. Duck Creek OnDemand enables Novo Insurance to bring its auto insurance products to market more quickly using its low-code and configurable open architecture platform. Novo Insurance is a subsidiary of the parent company Telenav, a leading provider of connected car and location-based software and services. Its software runs on tens of millions of vehicles from some of the world’s largest automotive manufacturers.

Assurant, Inc. partnered with Updater, becoming the preferred renters insurance provider for the fast-growing resident onboarding and relocation technology company. The partnership will include an integration that embeds Assurant’s industry-leading renters insurance product into the moving app that Updater provides property management company clients, creating a frictionless move-in experience for renters.

Insuritas partnered with Credit One Bank to install its award-winning full-service embedded digital insurance agency platform, BUNDLE by Insuritas. The insurance agency will be owned by the financial institution, embedded inside Credit One’s ecosystem and engineered to offer a full-service insurance agency solution to their credit card customers. With this partnership, Credit One will be able to offer its customer base the auto, home, commercial and ancillary insurance products they purchase every year, while deepening wallet share and building an important source of annuitizing non-interest income.

Insurity partnered with ATMECS Global Inc. to accelerate cloud-based software implementations for P&C carriers. As a System Integrator partner, ATMECS Global Inc. will configure and deploy software, as well as provide bespoke customization and application engineering to customers.

Clearcover Insurance Company selected Experian’s auto insurance comparison shopping service. This initiative supports Clearcover’s strategy to fuel growth in its distribution channels and complements Experian’s consumer-centric approach to its products. Clearcover is investing in technology to meet market demand and support its mission to become the digital auto insurer of choice for modern drivers. Its partner-centric API allows users to comparison shop for auto insurance to find better rates without leaving the Experian site for final quotes.

Related: Who’s using what in P&C insurance: April 24, 2023

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