The following news stories were curated and condensed by the Digital Insurance team.
Hippo appoints chief claims officer; Progressive, Fidelity Life launch short term life insurance: Roundup
October 28, 2021 7:15 AM
Hippo appoints chief claims officer
Hippo has appointed Grace Hanson as its first chief claim officer. Hanson, who will step into the role in January 2022, will oversee the growth of Hippo's claims organization as the company expands. Hanson previously worked at Hiscox and Homesite Insurance. “Hippo has done an exceptional job of modernizing the customer flow, risk mitigation through the use of IoT devices, and enhancing automation of the underwriting process; all of which create a delightful customer experience,” said Rick McCathron, president of Hippo, in a statement. “As Hippo takes the next step in becoming a holistic home protection partner for our customers, we are investing the same level of technology and innovation into the claims handling process to maintain a high bar and commitment to customer satisfaction.”
Progressive, Fidelity Life launch short term life insurance
Progressive Insurance and Fidelity Life announced the introduction of RAPIDecision Life One, a new one-year life insurance product for first-time buyers. Consumers can get a quote online by answering a few health questions, with no medical exam or phone call customers can get coverage in minutes. Policies are underwritten and serviced by Fidelity Life. "Our research uncovered an unmet need among younger consumers interested in quick, quality coverage, at an affordable price and without a medical exam, so that's what we delivered," said Laura Zimmerman, Fidelity Life chief marketing officer, in a statement. "Developed with millennial consumers in mind and individuals valuing flexibility, the product offers a range of coverage options, and provides philanthropic-minded consumers the option to name a charity as a beneficiary."
Zurich North America releases cyber risk survey
Eighty-sex percent of respondents said that cyber risk is a concern and that they’ve taken steps to assess it, according to the 11th Annual Information Security and Cyber Risk Management Survey from Zurich and Advisen. The results include responses from about 400 respondents that are risk managers, insurance buyers and other risk professionals from small and large companies around the world. "At Zurich, we have been advocating for increased cyber resilience among businesses for years so seeing a continued increase in take up rate and strengthening risk mitigation efforts is very encouraging," said Michelle Chia, head of professional liability and cyber for Zurich North America, in a press release. "The survey results also tell us, however, that more work needs to be done to increase cyber resilience and we are committed to providing businesses the resilience strategies they need through education and support."
Hertz and Uber to add 50,000 Teslas to network
Hertz and Uber announced a plan to increase the adoption of electric vehicles in the U.S. through a partnership to make up to 50,000 Teslas available for drivers to rent through the Uber network by 2023. Starting Nov. 1 drivers can rent Teslas from Hertz through the program in Los Angeles, San Francisco, San Diego and Washington D.C., a nationwide expansion is planned for later this year. Drivers will receive a discounted weekly rate from Hertz that includes insurance, maintenance and unlimited miles. "Climate change is an urgent global challenge we must all tackle together, and now is the time to drive a green recovery from the pandemic," said Uber CEO Dara Khosrowshahi, in a statement. "This combines the power of Tesla, Hertz and Uber to help accelerate the transition to zero-emissions mobility. We look forward to seeing more EVs on the road right away."
Amica selects Shift Technology
Amica will deploy three solutions from Shift Technology, an AI software solutions company, to help with customer claims. Shift Claims Fraud Detection, Shift Subrogation Detection and Shift Underwriting Fraud Detection will support Amica’s auto and property lines of business as the company works to increase its efficiency across the policy lifecycle. "Amica is a perfect example of what happens when a customer-first insurer adopts powerful technology solutions that inject greater visibility and efficiency into the policy and claims lifecycle," said Dan Donovan, head of customer success, Shift Technology, in a press release. "Amica's claims and underwriting professionals will have at their fingertips the data, information and knowledge required to make critical decisions, not only quickly, but also with great confidence."
Allianz appoints alternative risk transfer lead in the Americas
Allianz Global Corporate and Specialty announced Thomas Houlihan will be the permanent regional head, Americas for AGCS’ alternative risk transfer division. Houlihan, who joined the company in 2014, has been in the role on an interim basis since May. Houlihan has held previous positions at Allied World Assurance, The Navigators Group and Arch Insurance Group. Grant Maxwell, Global Head of Alternative Risk Transfer said in a press release: “Thomas has certainly hit the ground running and already made significant inroads as our new ART leader for the Americas region. He is most deserving of attaining this role on a permanent basis, and we all look forward to his continued success and the prospects for continued growth of our line of business across North America going forward.”
CCC launches Recovery Assistant
CCC Intelligent Solutions, a SaaS platform for P&C insurance, announced the Recovery Assistant, a mobile casualty claims resolution to accelerate third-party claims resolutions. USAA collaborated with CCC and is the first auto insurer to use it. “The Recovery Assistant mobile experience is already hard at work streamlining casualty claims for USAA,” said Barrett Callaghan, executive vice president, markets and customer success at CCC, in a press release. “CCC is focused on delivering innovative solutions that solve critical challenges for our customers. Recovery Assistant builds on CCC’s success delivering an end-to-end digital experience, advancing our unique position to create a unified straight through experience for our insurers that bridges APD claims to casualty claims and beyond. CCC solutions positively influence experiences of millions of people each year.”
MassMutual’s Haven Life expands Trust & Will partnership
Haven Life, a life insurance company backed and owned by Massachusetts Mutual Life Insurance Company, and Trust & Will, a digital estate planning platform, are expanding an existing partnership to offer more estate planning resources to Haven Life customers. Policyholders now have access to no-cost single or joint trust services. "While life insurance is an essential part of end-of-life planning, it is not the only piece of the puzzle and our original partnership with Trust & Will was designed to support our long-standing mission of making life less hard for our customers," said John Latona, general manager at Haven Life, in a press release. "We've always believed in maintaining a long-term relationship with our customers. When their needs change, that means our services need to evolve too. That's why we're excited to expand on our relationship with Trust & Will to provide enhanced estate planning resources."
HSB acquires Zeguro’s cybersecurity platform
HSB announced the acquisition of Zeguro’s digital cybersecurity platform that includes a suite of cyber risk management tools and services for small businesses. The platform integrates online access to cybersecurity training, policies and web monitoring. “A business needs both cyber insurance and security,” said Timothy Zeilman, vice president for HSB, part of Munich Re, in a statement. “The combination of HSB’s cyber coverage and Zeguro’s proven risk management platform offers a seamless experience for our customers to get the protection they need.”
Jerry partners with eDriving on app
Jerry, an AI car insurance comparison service, and eDriving, a provider of risk management solutions, are partnering on an app. Mentor will incorporate Jerry and provide customized quotes for users. "Jerry has brought ease and simplicity to comparing and buying car insurance," said Alex Chew, head of partnerships at Jerry, press release. "The Mentor app is the ideal platform to offer that convenience to those who drive for work purposes and their families. Mentor already helps drivers embrace safety, and we are pleased to extend the offering by saving drivers time and money on personal car insurance too."