The insurance industry has long relied on Excel as a go-to tool for pricing in both the insurance and reinsurance sectors. However, as market dynamics continue to evolve, it has become increasingly evident that Excel is no longer the optimal solution. This article examines the limitations of Excel as a pricing tool in the insurance sector and explores the pressing
Better Home & Finance Holding Company (NASDAQ:BETR, BETRW) has recently unveiled Better Insurance, a groundbreaking end-to-end, white-labeled solution that enables customers to purchase homeowners insurance through a fully online experience. Recognized as the leading digital homeownership company, Better Home & Finance is also the first fintech lender to achieve $100 billion in funded loans. This latest innovation is offered by
Layr, a leading Insurtech company focused on independent commercial insurance brokerages, recently announced the successful completion of its latest funding round, securing a significant investment of $10 million. This infusion of funds will further propel Layr’s mission to revolutionize the insurance tech landscape by bringing a digital and data-driven shift to the intricate manual workflows inherent in small business insurance.
The Travelers Companies, Inc. (NYSE: TRV) has recently announced its plans to acquire Corvus Insurance Holdings, Inc. for approximately $435 million. This strategic move will accelerate Travelers’ access to cutting-edge cyber capabilities in line with its long-term roadmap. The acquisition includes advanced underwriting algorithms, sophisticated cyber vulnerability scanning tools, and enhanced digital connectivity to customers and distribution partners. Importance of
The increasing remote workforce has presented unique challenges for employers when it comes to managing intermittent Family and Medical Leave Act (FMLA) leave. The flexibility offered by remote work arrangements can make tracking and monitoring intermittent leave more complex. However, with proper planning and adherence to the Department of Labor’s guidance, employers can effectively manage this process. Department of Labor’s
Inclusivity Solutions, a leading insurtech company, has set its sights on solidifying its presence in at least 12 African markets by the close of 2024. With a mission to provide accessible insurance solutions to underserved populations, the company integrates simple insurance products into platforms and services that consumers are already familiar with, ensuring protection for life, health, and businesses. Integration
Akur8, the next-generation insurance pricing solution, announced today a significant expansion of their partnership with Guidewire, including the company’s recent investment in Akur8. This strategic collaboration highlights the disruptive potential of combining Akur8’s innovative pricing technology with Guidewire’s industry-leading platform, revolutionizing insurance pricing and underwriting. Fundraising initiative for strategic partnerships To further enable and enhance its capabilities, Akur8 recently conducted
Introducing CLARA Analytics and its new CLARAty.ai platform, which leverages the power of AI technology to optimize the insurance claims process. This groundbreaking platform aims to assist claims professionals in resolving claims efficiently and at lower costs, while providing valuable insights from traditional core systems. Benefits of CLARAty.ai CLARAty.ai offers numerous benefits for claims professionals, revolutionizing their approach to claims
In the insurance industry, understanding the impact of claims events on a portfolio is crucial for carriers to make informed decisions. Arturo’s claims module offers an extensive understanding of the material impact of claims events, revolutionizing the insurance landscape. With its AI-powered solution, carriers can streamline their claims processes, prioritize effectively, and enhance customer interactions. Streamlining Claims Processes Arturo’s AI-powered
The global InsurTech sector experienced a significant boost in funding during the third quarter of 2023, reaching a total of $1.1 billion. A major driver of this growth was the remarkable surge in Property & Casualty (P&C) InsurTech investment, which saw a quarter-on-quarter increase of 25.5%. However, despite the overall increase in funding, the average deal size fell to a
In response to the evolving dynamics of the modern workplace, the Equal Employment Opportunity Commission (EEOC) has recently issued new guidance on workplace harassment. The guidance incorporates updates reflecting current case law and aims to address the pervasiveness of digital technology and the impact of social media postings, as well as other off-work conduct that could contribute to a hostile
Pathpoint, the modern wholesaler for insurance agents, has revolutionized the insurance industry by offering bindable small commercial Excess & Surplus (E&S) quotes in mere minutes. With over 14,000 registered agents and a compounded monthly growth of 20% in submission volume, Pathpoint’s success is bolstered by its partnership with Novidea, a cloud-based insurance management platform. This article explores how Pathpoint’s integration
