The insurance industry has long relied on complex and time-consuming pricing models to determine premium rates. However, with the advent of the cutting-edge platform hx Renew, actuarial teams are undergoing a transformation. This innovative solution revolutionizes the way actuarial teams operate by offering unprecedented speed, efficiency, and data integration in the insurance pricing process. Traditional Timeline for Creating and Deploying
In a groundbreaking move, ARMD, an InsurTech company specializing in serving the UK’s tradespeople market, has joined forces with Sparta Insurance Services, a prominent wholesale broker distribution platform. This strategic partnership aims to address the substantial insurance gap that has long plagued the tradespeople market in the UK. By combining their expertise and resources, ARMD and Sparta Insurance Services are
In a remarkable move that addresses the low insurance penetration rate in Indonesia, JULO, a leading Indonesian peer-to-peer financial technology company, has introduced JULO Cares. This innovative insurance coverage is embedded within their digital credit solution, offering ongoing device protection to users. JULO believes that by combining financial technology and insurance, they can provide a more inclusive and holistic financial
The insurance industry has traditionally been known for its slow and bureaucratic processes. However, a groundbreaking collaboration between CoverForce and NowCerts is set to change that. With the aim of revolutionizing the insurance sector, this partnership leverages CoverForce’s cutting-edge API infrastructure to offer instant commercial lines quotes and binding from top insurance carriers. CoverForce’s API offering CoverForce stands out as
Lydia, the mobile banking application, has joined forces with insurtech Qover to introduce a seamless travel insurance experience. This collaboration, exclusively available to Lydia’s premium cardholders known as Black+ users in Belgium, France, Portugal, and Spain, aims to revolutionize the way users engage with insurance. Powered by Qover’s embedded insurance orchestration platform, backed by Zurich and Cover-More, this partnership creates
OneShield, a trailblazer in core systems for the insurance industry, has recently announced a strategic partnership with Coforge. This collaboration aims to revolutionize customer success on the OneShield Enterprise SaaS platform. With a shared commitment to empowering clients, the objective of this partnership is to enhance the user experience on the OneShield platform and drive innovation in the insurance sector.
AXA UK & Ireland has announced the appointment of Alain Zweibrucker as the CEO of AXA Retail, pending regulatory approval, effective from 2nd January 2024. This significant development comes as AXA UK & Ireland continues to reinforce its commitment to delivering innovative insurance solutions to meet the evolving needs of its customers. Zweibrucker’s new role will also include membership on
SimplePin, the pioneering cloud-based payments infrastructure provider tailored for the insurance industry, is delighted to announce the addition of Axis to its esteemed client portfolio. This strategic collaboration signifies a significant step forward in simplifying payment acceptance and enhancing the overall customer experience for Axis, leveraging SimplePin’s advanced FinTech solutions. CEO’s enthusiasm Metod Topolnik, Founder and CEO of SimplePin, expressed
ARMD, the award-winning InsurTech dedicated to serving the underserved tradespeople market in the UK, has announced the launch of a new insurance product aimed at providing comprehensive protection to tradespeople and opening doors for brokers and intermediaries. The product, known as “ARMD Tools In Transit”, offers up to £10,000 coverage for tools left securely in a van 24/7. This innovative
In a move aimed at improving its data center operations, MetLife, one of the leading insurance companies, has been granted tax breaks of $22 million by the Rensselaer County Industrial Development Agency (IDA) for its planned upgrade of a data center in New York. The project, expected to cost $288 million, will involve critical facility upgrades to ensure smooth operations
In today’s fast-paced business environment, companies are constantly seeking ways to streamline processes and improve efficiency. InsurePay’s Pay-as-you-go, a cutting-edge solution, aims to enhance the policyholder user experience for MEM by offering a streamlined payment process for businesses. By relying on real-time payroll data to calculate workers’ comp premiums, this innovative solution brings about more timely and accurate premium payments
In today’s rapidly evolving digital landscape, the insurance industry is increasingly turning to artificial intelligence (AI) to revolutionize its operations. With insurance-facing AI capabilities predicted to reach a global market value of almost $80 billion by 2030, there is significant potential for insurers to discover new value-add use cases and revenue streams. This article explores the transformative power of AI
