Irys Insurtech, Inc., a pioneering insurtech startup, has successfully closed a seed funding round, raising an impressive $3.5 million. This significant investment marks Irys’ entry into the insurance market, which has long been dominated by stagnant legacy agency management systems. Led by Markd, a renowned investor with a keen interest in groundbreaking insurtech innovations, the funding round propels Irys forward
In an effort to revolutionize litigation management and drive better legal outcomes, CLARA Analytics and ClaimDeck have joined forces in a strategic partnership. The collaboration aims to assist carriers in effectively managing their litigation rates and mitigating rising litigation costs. By leveraging their respective insurance claims solutions, both CLARA and ClaimDeck harness the power of claims data to optimize litigated
In a groundbreaking partnership, Wagestream and Wakam have joined forces to launch Enhanced Sick Pay, a revolutionary product aimed at providing affordable sick pay cover for frontline workers. This collaboration marks the first-of-its-kind in the UK, directly addressing the longstanding issue of inadequate sick pay support for those at risk. The lack of sick pay support for at-risk workers For
In a significant ruling that will impact Fair Labor Standards Act (FLSA) lawsuits, a recent court decision on a ‘donning and doffing’ case involving oil rig workers has made employers more vulnerable to legal action. The case in question, Tyger v. Precision Drilling Corp., revolved around the payment of oil rig workers for the time spent in ‘donning and doffing’
HawkSoft, a leading provider of insurance agency management systems, has recently announced its exciting partnership with Fize Technology as its newest API Partner. This collaboration aims to revolutionize how independent agencies access essential insurance information by integrating Fize’s two-way API system with HawkSoft’s advanced Insurance Platform, which is set to go live today. Description of the Integration System The partnership
Venue plays a crucial role in determining the location where a legal case is heard. Recently, the Texas Court of Appeals tackled the issue of venue in a breach of contract lawsuit filed by a former employee against their employer. The court’s ruling shed light on the significance of the relationship between the location of the lawsuit and the compensation
Newfront, a leading insurance technology company, recently announced that it has achieved Service Organization Control Type 2 (SOC 2, Type 2) compliance certification. This prestigious certification marks a significant milestone in Newfront’s ongoing commitment to ensuring the security and confidentiality of company and client data. Let’s delve deeper into the significance of SOC 2, Type 2 certification and how Newfront’s
The National Labor Relations Board (NLRB) has issued a final rule aimed at removing barriers to union elections and streamlining the process. This rule is expected to significantly reduce the time it takes to proceed from petition to election and to reach a resolution in post-election litigation. By returning to a previous election process established in 2014, the NLRB seeks
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
