Who's using what in P&C insurance: July 4, 2022
Insurance technology news from Betterview, Snapsheet, ReSource Pro and more.
Verisk and Loveland Innovations partnered to enable insurance claim adjusters and contractors to combine IMGING’s property data capture and analysis technology with Verisk’s claims-handling solutions. The result is a full artificial intelligence and data-driven end-to-end property adjusting software solution that provides complete 3-D models and measurements of structures while keeping estimators safely off roofs.
Insight Risk selected ChainThat’s Beyond Policy Administration. Insight Risk is a technology-driven, builders’ risk-focused managing general agency. To reinforce organisational growth, the company sought a core platform capable of rapid, full product deployment and policy lifecycle change management. Another key requirement was a flexible, adaptable framework to support the evolving priorities of the business, its customers, and fronting partners. Insight Risk identified BPA from ChainThat as the most comprehensive fit to meet the company’s operational needs and expansion objectives.
Betterview partnered with e2Value, provider of web-based property valuation solutions. Betterview Property Intelligence & Risk Management Platform provides a value for insured residential and commercial structures with only an address for e2Value customers. In turn, property valuations and replacement cost estimates from e2Value are viewable directly within the Betterview Platform. The newly launched expansion of the e2Value-Betterview partnership has added editable fields to the integration to empower underwriters to make rapid, strategic policy decisions.
Betterview partnered with OneShield Software. Betterview Platform will now be available to insurer clients within the user interface for the OneShield suite of products, including solutions for policy, billing and claims. Integrating predictive analytics, such as data provided by the 100-point Roof Spotlight Index, the new Defensible Space feature, and the Wildfire Risk Insights tool, which are part of the Betterview Property Intelligence & Risk Management Platform, into OneShield’s solutions will increase insurer underwriting accuracy and improve expense ratios substantially.
Vertafore acquired MGA Systems, a provider of purpose-built software for MGAs. MGAs require solutions that can keep pace as they seek to expand into new specialized lines of business and retain their current customers. The acquisition of MGA Systems gives Vertafore customers access to policy administration and rating solutions that will be integrated into Vertafore’s suite.
Snapsheet and TempusDirect, provider of medical cost containment solutions for the Property and Casualty insurance market, partnered to utilize technology to further simplify the cost containment process for Tempus customers. The new partnership and process optimization efforts from Tempus directly through Snapsheet’s Vendor Integration, streamline the cost containment process for both providers and claimants.
ReSource Pro acquired towerIQ, a P&C insurance-focused technology platform designed to streamline workflows and capture the market’s most valuable data. The addition of towerIQ will deliver on ReSource Pro’s core mission of insurance transformation by allowing ReSource Pro clients to optimize their data and improve productivity, especially across middle to large market, complex and specialty commercial accounts.