Socotra, a leading provider of modern, cloud-based technology for insurers worldwide, is thrilled to announce the appointment of Sonny Patel as their new Chief Product and Technology Officer. Patel brings with him a wealth of experience and expertise in product development and technological innovation, having previously worked at Fortune 500 companies such as Dell, Microsoft, and Amazon. In his new
Clearcover, a leading insurtech company, has recently unveiled its innovative embedded insurance solution called “Choice.” This groundbreaking platform enables brands in various industries, particularly in financial services, to offer their customers seamless access to price and policy comparisons from multiple insurance carriers. With the goal of providing convenient and affordable car insurance coverage, Clearcover’s “Choice” is set to revolutionize the
In a rapidly changing insurance industry landscape, Velocity Risk Underwriters successfully implemented Guidewire InsuranceNow to meet market demands, facilitate business growth, and deliver enhanced value to its producers, brokers, and customers. This strategic move has allowed the company to adapt quickly to shifting market needs, streamline operations, and drive profitability. The implementation, specifically targeting small commercial lines of business, has
CareCentrix, a prominent healthcare administration platform based in Connecticut, finds itself embroiled in a legal battle as a proposed collective action alleges that the company owes compensation to its customer service representatives for pre- and post-shift activities. These activities include booting up and shutting down computers necessary for their roles. The lawsuit, filed by a former representative, claims that CareCentrix
In a recent legal battle, travel plaza operator HMSHost emerged victorious as the 6th U.S. Circuit Court of Appeals upheld its classification of a former district director of operations as an overtime-exempt employee under the Fair Labor Standards Act (FLSA). This ruling, made in the case of Manteuffel v. HMS Host Tollroads, Inc., sheds light on the requirements for the
In a recent decision, the U.S. Supreme Court issued a clarification on the religious accommodation standard under Title VII of the Civil Rights Act of 1964. This ruling has significant implications for employers, as it defined the necessary threshold for establishing an “undue hardship” when denying a religious accommodation. This article explores the background, impact, and implications of the Supreme
Wright National Flood Insurance Services (“Wright Flood”) has unveiled its latest product, FocusFlood, as an extension of its highly regarded ResiFlood program. This proprietary private flood product is available exclusively through Wright Flood agents, marking a significant step forward in the flood insurtech market. FocusFlood aims to provide accurate and affordable primary flood coverage for residential property owners, leveraging advanced
The U.S. general insurance industry is poised for significant growth over the next five years, according to a forecast by GlobalData. With an estimated compound annual growth rate (CAGR) of 8.5%, the industry is expected to expand from $2.18 trillion in 2023 to $3.03 trillion in 2027 in terms of gross written premiums (GWP). This article explores the factors driving
In a recent development, the electric vehicle manufacturer Tesla has found itself at the center of a data breach incident, leading the company to file lawsuits against two former employees. The breach compromised confidential information, including employee-related records. In response to the incident, Tesla promptly notified current and former employees and took necessary actions to address the breach. Communication with
INZMO, a Berlin-based insurtech company, has recently announced the appointment of Michael Jackson as its first Chairman of the Board of Directors. This move comes as the company continues to transform the rental sector with its innovative financial services products that cater to both tenants and landlords. With Michael’s extensive experience as the former COO of Skype and a Partner
In a recent case that has attracted attention in Texas, the Court of Appeals has disagreed with the trial court’s order compelling Home Depot U.S.A., Inc. to produce over 100 safety-related items. The lawsuit revolves around a claim by an employee who alleges that he injured his back while loading a zero-turn lawn mower onto a customer’s trailer while working
In today’s digital age, data has become the lifeblood of the insurance and reinsurance industry. The ability to access and analyze real-time data has revolutionized decision-making processes and has set the best insurers and reinsurers apart from their competitors. This article explores the vital role that data plays in driving success and innovation within the insurance and reinsurance landscape. We’ll
