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 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 insurance industry is increasingly turning to advanced technologies to streamline operations and enhance decision-making processes. Akur8, a next-generation insurance pricing solution provider, has partnered with Millennial Specialty Insurance (MSI) to significantly improve MSI’s pricing capabilities through Akur8’s cutting-edge Risk and Rate modeling solution. This collaboration is an integral part of Akur8’s U.S. market expansion efforts within the personal insurance
Lemonade, a digital insurance pioneer renowned for its AI-driven mechanisms and philanthropic initiatives, has recently launched a revolutionary Buildings and Contents insurance product in the UK. This move marks a vital step in Lemonade’s continued expansion within the UK insurance market, having first established a foothold in October 2022 as a Prudential Regulation Authority-licensed carrier. The company’s AI-driven approach and
The landscape of commercial insurance is constantly evolving, driven by emergent needs and technological advancements. One of the most recent and noteworthy developments in this domain is the strategic partnership between Bold Penguin, a digital solution platform, and RT Specialty, a leading wholesale distributor of commercial excess and surplus (E&S) insurance products and services. This collaboration promises to bring significant
Travel protection has always been a vital consideration for travelers, covering unexpected events that can disrupt plans and cause financial stress. Recently, Priceline, a major player in the online travel booking industry, announced a groundbreaking partnership with Cover Genius, an InsurTech company specializing in embedded protection. This collaboration aims to significantly enhance travel protection for customers booking flights, hotels, rental
Gradient AI, a trailblazer in artificial intelligence (AI) for the insurance industry, has successfully secured $36 million in its latest funding round. This significant investment reflects confidence in the company’s innovative approach to leveraging AI and machine learning to revolutionize traditional insurance methodologies. Founded in 2018, Gradient AI is poised to use these funds strategically to advance its technology, expand
The partnership between Cytora, a digital risk processing platform, and Gamma Risk, a leading provider of location intelligence systems, marks a transformative moment in commercial property risk assessment. By integrating Gamma Risk’s Perilfinder™ into Cytora’s underwriting tool, this collaboration aims to optimize the accuracy of risk evaluations, providing insurers with critical, data-driven insights. This integration promises to reshape how insurers
The insurance sector is undergoing a significant transformation propelled by advances in artificial intelligence (AI) and digital technologies. This evolution is not merely a trend but an essential adaptation to meet the high standards of today’s technologically savvy consumers. The shift is reshaping everything from risk assessment and claims processing to customer interactions and regulatory compliance. As we delve into
Aviva, one of the most prominent British multinational insurance companies, has taken a monumental step in advancing its risk management capabilities. The company is partnering with Symfos, a leading provider of advanced risk management software solutions. The deployment of Symfos’ revolutionary software, Orchestra, aims to transform Aviva’s approach to risk visualization, data processing, and overall exposure management. This alliance signifies
The financial services industry constantly evolves, seeking innovative ways to broaden their offerings and enhance customer satisfaction. A noteworthy development in this realm is the strategic partnership formed between Insuritas, a leading embedded insurance provider, and Integral Group Solution (IGS), a global leader in value-add assistance programs. Together, they aim to integrate IGS’s Home Services coverage plan into Insuritas’ BUNDLE
