The Hartford picks Carpe Data, Coverwallet launches startup coverage: Roundup
August 10, 2020 4:33 AM
The Hartford has tapped insurtech Carpe Data to improve data sources for agents quoting small business insurance, with the goal of increasing application processing velocity. “Carpe Data provides an opportunity to integrate even more data elements into our underwriting system,” says John Russo, Head of Small Commercial Underwriting Practices at The Hartford. “This partnership aligns with The Hartford’s history of building the best quoting process and of providing fast, accurate business intelligence to our agents."
Canadian insurer IA Auto and Home Insurance picked Shift Technology, a fraud detection and claims automation insurtech, for its Property and Casualty line of business. Shift Technology's platform identifies suspicious behavior and potentially fraudulent claims using artificial intelligence and advanced data science, the companies say. "It's easy to forget that the impact of fraud is felt across the entire claims process. An effective fraud mitigation strategy offers benefits on multiple levels," says Jeremy Jawish, CEO and co–founder, Shift Technology.
Coverwallet, an Aon company, has announced a new digital insurance package for venture capital backed startup companies. These business can can instantly buy and manage D&O, EPL, and Fiduciary coverage online. The management liability package is designed for companies from Seed through Series C and adds to the insurance policies already available through CoverStartups. The management liability package also includes:
- Access to a seamless online platform to manage insurance efficiently
- The ability to pay in monthly installments or in full
- A team that specializes in insurance for growth companies to answer any questions
- Broad Subsidiary language, which allows coverage to apply to subsidiary businesses
- Coverage for Employee Stock Ownership
Eileen Currie has been appointed President and CEO of eMaxx’s insurance operating companies, to lead its operations in underwriting, client services, and distribution for its alternative risk captive insurance programs. "We are honored to have Eileen join eMaxx to serve as President/CEO of the insurance operating companies,” said Brian McCarthy, CEO of eMaxx Assurance Group of Companies, Inc. “Her experience in commercial lines insurance, driving scalable long-term growth and digital innovation complements the Company’s as we continue to grow our existing captive program and launch heterogeneous captives.”
One Inc. has acquired Invenger Technologies (Invenger), including its flagship digital claims payment product, Invenger-InsurPay. Similar to One Inc’s ClaimsPay digital disbursement product, Invenger-InsurPay offers a choice of payment methods and enables insurers to pay policyholders, claimants, vendors, mortgagees and lienholders through one platform as either single or multiple payees. "We are excited to add the Invenger-InsurPay claims payment solution into our digital payments platform and combine our resources to provide even better solutions for our customers and the industry as a whole," said Christopher Ewing, president and CEO of One Inc. "With a combined portfolio of more than 160 customers, it is another giant leap forward in our mission to help modernize the insurance industry through a frictionless payments experience."