Novidea, a leading technology provider in the insurtech industry, has been selected by Mivtach Simon, Israel’s largest insurance, pension, and financial planning company, as its technology partner to implement an innovative insurance distribution platform. This strategic collaboration aims to centralize operational processes and services, marking a significant milestone in Mivtach Simon’s digital transformation program. Mivtach Simon’s role in the insurance
In a groundbreaking collaborative effort, Reask and Cytora have joined forces to incorporate state-of-the-art natural catastrophe risk analytics APIs into Cytora’s platform. This strategic partnership aims to provide insurers with unmatched tools to assess and manage the threats that natural disasters pose. By merging the potent risk analytics APIs with Cytora’s platform, insurers gain a gateway to intricate risk evaluations
In today’s highly competitive market, life insurers must have an effective customer communications strategy to stay ahead of the competition. This article explores the correlation between an improved policy management system and effective customer communications, the limitations of current legacy systems, the benefits of cloud-based CCM software, the importance of every touchpoint in the life insurance journey, the limitations of
Cytora, a renowned provider of digital risk processing platforms, has entered into a groundbreaking partnership with JETNET, a leading expert in aviation market intelligence. This collaboration aims to revolutionize the insurance industry by seamlessly integrating JETNET’s aviation intelligence APIs into Cytora’s platform. The result is a comprehensive global aviation risk solution that empowers insurers with real-time data, advanced analytics, and
The Taiwanese insuteche industry is undergoing significant changes as the regulatory authority makes adjustments to the solvency framework. These revisions aim to ease the burden on insurers by reducing capital charges on various asset categories and extending phase-in periods. Furthermore, the industry is witnessing a rise in digital distribution channels, enabling insurers to obtain insurance policies more easily. This article
Aktia Life, a leading life insurer in Finland, has made a strategic decision to collaborate with Sapiens, a renowned provider of software solutions for the insurance industry, for their core system transformation project. This partnership aims to support Aktia Life’s growth and renewal goals, improve customer and employee experience, and drive digitization within the organization. The Chosen Partner for Complex
In the highly competitive insurance industry, agencies face numerous challenges when it comes to efficiently managing their operations. To address these challenges, Ascend, an innovative financial operations automation platform, has partnered with Get Me Insured, a leading insurance agency, with the goal of revolutionizing agency management systems. This collaboration aims to automate post-placement administrative tasks associated with agency bill policies,
In a move to enhance efficiency and adapt to policy management trends driven by digitization, First Tier Underwriters (FTU), a Georgia-based specialty insurance wholesaler, has made the decision to replace its proprietary policy system with Cogitate DigitalEdge Policy (DEP). DEP, developed by Cogitate Technology Solutions, offers a comprehensive suite of solutions that empower insurance carriers and intermediaries to streamline their
Novidea, a leading global InsurTech firm, has recently made a significant hire with the inclusion of Duncan Baker as its new Reinsurance Product Manager. This strategic move reflects Novidea’s commitment to driving innovation in the insurance domain and expanding its reinsurance product portfolio. With Duncan Baker’s expertise and experience in the industry, Novidea aims to reinforce its position as a
In a bold move to revolutionize the takaful market, insurtech platform Ouch! has recently unveiled its game-changing digital takaful product, Pusara Pro. This innovative term life product offers a comprehensive death benefit of up to RM500,000, coupled with an additional compassionate benefit of 10% of the total sum assured. With the aim of providing accessible and affordable life protection for
In the realm of personal injury claims, employees often rely on workers’ compensation benefits as their exclusive remedy for recovery. This article delves into a specific case where an employee’s personal injury claim was dismissed in favor of seeking workers’ compensation benefits from the insurance carrier. The plaintiff, an on-duty employee, alleged that the defendant failed to provide a safe
Insurtech, a fusion of insurance and technology, is transforming the insurance industry through the innovative use of advanced technologies. From startups to established companies, the insurance sector is harnessing cutting-edge tools such as artificial intelligence (AI), machine learning, blockchain, and big data to streamline operations, enhance customer experiences, and improve overall efficiency. In this article, we will explore how insurtech
