Farmers digitizes insurance verification: Roundup
October 13, 2020 4:40 AM
Farmers Insurance
Farmers Insurance has partners with Nexsys Technologies, a fintech company, to digitize verification of homeowners insurance using the latter's Clear HOI platform. The API - based integration has delivered more than 20,000 insurance declaration pages since its launch in March, the companies say, representing almost 90% of loans that were sent through Nexsys. "This shared technology collaboration with Nexsys enables us to provide real-time, automatic insurance verification for mortgage lenders and our customers closing a mortgage—helping us fulfill our mission to provide first-rate, on-demand, personalized customer experience,” says Aidan Mc Glinchey, Head of Strategic Planning and Execution at Farmers Insurance.
Swiss Re Corporate Solutions has implemented Majesco Digital 1st and Majesco Policy for P&C on Majesco CloudInsurer in 11 weeks to support initiatives in the Mexico market. The initiative will enable the insurer to deliver new products and expand to new channels, helping to reach untapped markets, such as Agro Retail. This followed a live hackathon in Switzerland that demonstrated the software's capabilities in real-time. Giovanni Genovesi, Head Swiss Re Corporate Solutions IT Latin America, explains “Swiss Re Corporate Solutions had an accelerated and unique evaluation process to identify a solution that would meet our array of business opportunities.”
Quility, a new insurtech, has announced its launch. The company says its digital platform is designed to revolutionize shopping and purchasing life insurance to provide choice and simplicity to the segment. It is backed by more than 4,000 licensed insurance agents nationwide, a recent combination of partner companies Symmetry Financial Group and Asurea Insurance Services, It uses a ten-minute digital application that requires no medical exam to determine coverage eligibility. Casey Watkins, Co-Founder of Quility says, "Whether it's through a video consultation or our online application, our goal is to provide simplicity and choice every step of the way."
Erie Insurance has promoted David Edgerton to SVP, Information Technology. Edgerton has been vice president of Personal Lines Technology since 2018. He came to the company in 2014 as an IT delivery manager and was promoted to IT director in the Finance area in 2015. He served as IT director in Personal Lines technology from 2017 until he assumed his current role.
The company also announced the retirement of Chris Zimmer, senior vice president, Claims of 29 years, in January 2021, Cody Cook, who had been SVP, Personal Products will succeed Zimmer Ruben Fechner will become senior vice president, Personal Products. Fechner joined ERIE in 2013 as senior vice president, Business Application & Support, Information Technology.
The company also announced the retirement of Chris Zimmer, senior vice president, Claims of 29 years, in January 2021, Cody Cook, who had been SVP, Personal Products will succeed Zimmer Ruben Fechner will become senior vice president, Personal Products. Fechner joined ERIE in 2013 as senior vice president, Business Application & Support, Information Technology.