The following news stories were curated and condensed by the Digital Insurance team.
Roundup: Fabric hires former Allstate SVP; ADT app expands to crash detection
August 19, 2021 7:15 AM
Fabric names new chief insurance officer
Fabric, a life insurance provider, hired Brian Stricker as the company’s chief insurance officer. Stricker, who has 30 years of experience, was previously with Allstate as senior vice president of life and retirement products. In the new role, Stricker will be in charge of product development, pricing, underwriting, policy administration and compliance. "Brian has both deep operating experience with incumbent carriers and a vision for how technology can create real value for consumers," said Adam Erlebacher, CEO of Fabric, in a press release. "Brian joining Fabric as chief insurance officer is not only a milestone for our company, but also reflects the broader trend of consumers demanding a fully-digital life insurance buying experience."
ADT app expands to detect car accidents
SoSecure by ADT, a personal safety app, now offers crash detection and automatic emergency response using sensors and AI. ADT partnered with Cambridge Mobile Telematics, a mobile telematics provider, to integrate the feature into the existing app. If a low severity crash is detected the user will receive a notification that includes options to ‘Send help,’ or report ‘I’m OK.’ If it’s a more severe accident, details like GPS location are available to monitoring agents who help first responders find the crash site.
Hannover Re collaborates with ExamOne
Hannover Life Reassurance Company of America, the reinsurance group, announced a collaboration with ExamOne, a Quest Diagnostics company, to include LabPiQture data in hr | ReFlex, Hannover Re’s automated life insurer underwriting solution. ExamOne’s LabPiQture gathers real-time clinical records and medical information that can be used for the underwriting of life insurance policies, which will allow life insurers to make more offers to applicants quicker without any in-person processes. “This is a natural collaboration for us and we’re excited about where it will take us on the road to deep automation within the life insurance space,” said Kevin Oldani, senior vice president and chief underwriter at Hannover Re U.S., in a statement. “ExamOne has created an industry-leading tool, providing access to a comprehensive suite of real-time laboratory data from across the country. But it’s not just the data itself that counts, it’s what is done with it. Our rule-sets allow insurers to make immediate and productive use of the data for the purposes of sophisticated risk assessment and automated, accelerated underwriting.”
Branch Insurance selects Snapsheet for claims delivery
Snapsheet, a virtual appraisal and claims management software company, announced that Branch Insurance, an insurance provider with bundled auto and home options, selected Snapsheet Claims software for claims delivery. The Snapsheet SaaS platform provides tools to fully digitize end-to-end claims management. "We recognize that our members increasingly prefer digital-first experiences. With Snapsheet's technology, we are providing our members with enhanced capabilities, increased transparency into the claims process, and, above all, a delightful claims experience," said Charlie Wendland, head of claims at Branch, in a press release. "The automation and flexibility powered by Snapsheet's software provides our claims team with tremendous efficiency and relieves them of administrative tasks so they can spend more time helping our members when they need us most."
Nexar partners with Black Car Fund
Nexar, an artificial intelligence computer vision company, announced a partnership with Black Car Fund, the New York State workers’ compensation provider for operators. Nexar’s AI dash cams will be placed in thousands of cars, including rideshare vehicles, in case of an accident or assault. The cameras detect collisions and then send a reenactment of the crash to BCF for claims purposes. "The Black Car Fund provides workers compensation along with free benefits such as basic dental and vision coverage along with other health-related benefits to approximately 100,000 drivers in New York, and we are so proud to work with them," said Eran Shir, the co-founder & CEO at Nexar, in a statement. "Our first report of loss and unique scene reconstruction will be a gamechanger for so many drivers who provide a tremendous service to millions of New Yorkers. The ability of Nexar's AI algorithms to 'understand' and report an incident in real-time allows us to make a difference in yet another sector.”
Duck Creek and Glia team up
Duck Creek Technologies, a provider of SaaS insurance systems, and Glia, a provider of digital customer service, announced a partnership to provide Duck Creek customers with Glia’s Digital Customer Service platform. The system allows insurers to increase customer service and reduce call times using multiple communication methods like messaging, voice, and video. "It's now more important than ever for insurers to offer their agents and customers the digital-first customer experiences they have come to expect from all of the companies they do business with," said Elizabeth Del Ferro, vice president and partner GTM at Duck Creek Technologies, in a press release. "Delivering efficiency as well as satisfaction is critical to customer and producer retention, as well as growing books of business, and Duck Creek is thrilled to welcome Glia into our rapidly-growing partner ecosystem."
HSB sponsors University of Hartford IoT lab
HSB, a specialty insurer and technology services provider, is sponsoring an Internet of Things laboratory at the University of Hartford. The lab, within the engineering and health sciences building, is set to open by the end of August and will expand and create new programs for students related to things like sensors, connectivity and data analysis. “In today’s connected world, technology plays a key role in developing solutions for business, the home and the community,” said Greg Barats, president and chief executive officer of HSB, part of Munich Re, in a statement. “We’re excited to help University of Hartford students explore IoT technologies that will prepare them for the jobs and challenges of the future.”
Even Financial launches Haven Term, Haven Simple
Even Financial, a financial services search and comparison platform, has launched Haven Term and Haven Simple, which is offered by Haven Life, on its life insurance marketplace, expanding its network of life insurance offerings. The launch allows consumers to match with life insurance policies, apply and purchase online. "Haven Life is committed to meeting life insurance customers wherever they are — and often, it's where they are managing the rest of their financial life," said Wade Seward, head of distribution strategy at Haven Life, in a press release. "On the heels of introducing even more affordable pricing for the Haven Term product, our partnership with Even Financial allows us to marry that affordability with greater accessibility to offer comprehensive financial protection to shared clients with ease and efficiency."
Honk partners with Vault on roadside assistance
Vault, a personal insurance provider, and Honk Technologies, a digital roadside assistance platform and transport company, are partnering to offer roadside services to Vault’s auto insurance members. Honk allows Vault members to request assistance using a mobile app or phone call and includes status updates and estimated arrival times. "Expectations for insurance and the ecosystem services the industry provides have changed," said Jimmy Caylor, auto physical damage at Vault, in a press release. "Today, customers demand more responsive, streamlined digital solutions that make it simple to get what they need. At Vault, we are deeply committed to a superior customer experience. In Honk, we found a partner that is just as committed as we are to providing the highest quality customer service through an advanced technology platform that's extremely easy for customers to use."