The insurance technology (InsurTech) industry is witnessing a transformative evolution, driven by advancements in data analytics and digital tools. At the core of this transformation is the effective utilization of historical loss data, meticulously compiled in Loss Run Reports. These reports are invaluable assets for insurance companies, brokers, and policyholders, shaping decisions, strategies, and operations across the industry. Understanding Loss
The dynamic landscape of insurance pricing, particularly in sectors like property and casualty (P&C) and health insurance, demands meticulous planning and constant adaptation. In an era dominated by data, insurers must leverage real-time information and sophisticated tools to align their pricing strategies with market demands, regulators’ expectations, and policyholder needs. This article dissects the challenges and best practices in optimizing
In an era where accurate property risk assessment is paramount, Juniper Re, the reinsurance broking arm of The Baldwin Group, has embarked on a strategic alliance with CAPE Analytics. This partnership aims to fuse Juniper Re’s catastrophe analytics prowess with CAPE Analytics’ AI-driven property intelligence, thus furnishing clients with unparalleled insights into property risks and enhancing market differentiation. Introducing the
In a groundbreaking move to enhance commercial property risk assessments, Cytora, a leading digital risk processing platform, has partnered with Gamma Risk, a provider of advanced location intelligence systems. This strategic collaboration aims to integrate Gamma Risk’s Perilfinder™ system into Cytora’s suite of underwriting productivity tools. The partnership promises to optimize insurers’ risk evaluation capabilities by leveraging cutting-edge technology and
The recent announcement involving One Inc and Selective Insurance marks a significant development in the insurance industry, particularly in the realm of digital payments. One Inc, a leading digital payments network specifically tailored for the insurance sector, has been chosen by Selective Insurance to provide its ClaimsPay digital payment solution. This partnership underscores the ongoing transformation within the insurance industry
The global COVID-19 pandemic has undeniably altered numerous facets of daily life, including how we approach workplace safety and health protocols. A prominent change brought on by the health crisis is the introduction of mandatory pre-shift COVID-19 screenings in various industries. These screenings, which often involve temperature checks and health questionnaires, are critical in identifying and isolating potential COVID-19 cases
The insurance industry is undergoing a significant transformation, driven by evolving customer expectations and the need for operational efficiency. Central to this shift is the strategic partnership between Insurity and Glia, culminating in the launch of the Insurity Interaction Platform. This state-of-the-art, cloud-native platform is designed to modernize and enhance the interactions between insurance carriers, MGAs, policyholders, and agents. By
The insurance industry stands on the brink of a significant transformation with the introduction of Clive™, the first AI-powered Insurance Adjustment Agent by Five Sigma. Founded in 2017, Five Sigma has consistently pushed the boundaries of InsurTech by integrating AI and automation into its claims management platform. Now, with Clive™ positioned to revolutionize claims management, the goal is clear: improving
The world of insurance is rapidly evolving, with digital transformation changing the way businesses operate and interact with their customers. One of the latest advancements in this sphere is the integration of One Inc’s ClaimsPay® by Selective Insurance, a leading provider of business, home, and auto insurance. This partnership aims to streamline Selective’s claims process, offering policyholders quicker and more
The emergence of Juno marks a transformative moment in the landscape of employee benefits, heralding the introduction of child disability insurance in the U.S. Designed to fill a significant gap in financial protection for working parents, Juno’s groundbreaking approach has captured the attention of the industry and investors alike. As traditional employee benefits often overlook the unique needs of families
The National Labor Relations Board (NLRB) recently withdrew its appeal against a Texas federal judge’s decision that blocked its joint employer final rule. This move signifies a pivotal moment in the ongoing debate concerning joint employer standards under the National Labor Relations Act (NLRA), impacting both businesses and workers across various industries. The complexities surrounding the definition of a joint
The recent legal settlement involving Dollar General and accusations of age discrimination has brought to light a pervasive issue in workplaces across the country. Specifically, older employees at Dollar General faced derogatory remarks and were subjected to a discriminatory environment indicative of a larger, systemic problem of ageism in the workforce. This article explores the details of the case, the
