Zurich partners with Quantee; Munich Re partners with MAPTYCS: Insurtech news

June 3, 2024 4:40 PM

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Aflac partners with Nayaa

Aflac Group announced a partnership with Nayaa, a provider of digital benefits guidance, and will power supplemental health claims integration to select employers, according to the press release.

Senior vice president of group voluntary benefits Bob Ruff, said in a statement: "Aflac has made the claims experience a priority for our clients for more than 65 years. We have delivered on this promise in many ways, including our wellness campaigns that promote the usage of our plans and creating a digital-first claims experience through MyAflac mobile app and web portal. We remain focused on simplifying the claims process by adding this robust, proactive medical claims integration solution as a natural extension of our long-standing values. We are excited to partner with Nayya on this journey."

Winning landscape designs to reduce wildfire risk

The winning designs were announced for a wildfire-resilient landscaping contest at the University of California, Berkeley in partnership with CSAA Insurance Group and the Insurance Institute for Business & Home Safety (IBHS).

Alister Watt, chief product officer for IBHS, said in a statement: "The science behind Wildfire Prepared Home proves that taking a system of actions to protect one's home from wildfire can dramatically reduce risk. As reflected in these landscape designs, the home ignition zone is crucial to establishing a line of defense against wildfire, and the good news is that it does not require sacrificing curb appeal." The winning designs can be found here.

Marsh McLennan Agency acquires commercial lines brokerage AC Risk Management

Marsh McLennan Agency, a subsidiary of Marsh, announced its acquisition of AC Risk Management, an independent commercial lines brokerage that offers property and casualty insurance, with a focus on the construction industry.

Jerry Alderman, CEO of Marsh McLennan Agency's Northeast region, said in a news release, "We have always been committed to helping clients identify their risks and prevent claims before they happen. As part of Marsh McLennan Agency, our team will gain access to advanced tools and technologies, enabling them to provide enhanced solutions for client exposures, in addition to high-quality professional growth resources."

Neptune Flood acquires data science firm Charles River Data

Private flood insurer Neptune Flood acquired Charles River Data, a data science consulting firm, announced May 1. Charles River Data develops analytical tools and models, which Neptune aims to use in bolstering its ability to analyze and underwrite flood risk.

"The integration of Charles River Data's expertise will enable us to expand our analytical capabilities, ensuring faster and more accurate flood risk assessments for our customers," said Trevor Burgess, CEO of Neptune Flood, in a press release. "This acquisition aligns perfectly with our commitment to leveraging the best technology to revolutionize insurance."

Matt Duffy, Chief Risk Officer at Neptune Flood, added, "Joining forces with Charles River Data empowers us to enhance our Triton system with new layers of predictive analytics, machine learning, and generative AI, further solidifying our position at the forefront of the insurance technology industry."

Zurich announces partnership with insurtech Quantee

Zurich Insurance Company announced a new partnership with Quantee, an insurtech that offers a pricing platform for P&C and health insurance firms. Zurich plans to enhance its pricing abilities, utilizing Quantee's digital platform and techniques.

"Quantee provides a state of the art, flexible platform that blends traditional and AI-driven techniques, catering to end-to-end user journeys. Moreover, it offers a customizable integration approach that aligns well with our technology roadmap, enabling us to meet both current and future business needs" says Christian Westermann, Group Head of AI at Zurich, in a press release.

Moody’s selects TomTom location data for its risk management solutions

Moody's has chosen location data from TomTom, an Amsterdam-based company, to improve the accuracy of its Insurance Geocoder, a service for insurance, financial, real estate and related businesses to assess risks.

Insurance Geocoder can assess a property's exposure to natural catastrophes, so insurers can set premiums and manage their portfolios effectively.

"Accurate and up-to-date geocoding data is core to Moody's suite of solutions for insurance clients," said Aaron Mayfield, senior director of product for insurance at Moody's. "We're excited to continue working with TomTom and to use their high-quality location data to deliver advanced intelligence and solutions that help our customers outperform and address the industry's most important challenges."

Cytora launches risk resource

Digital risk processing platform Cytora has launched its Risk Flow Academy, a free digital learning platform for commercial insurance professionals.

The platform covers topics including digitizing submissions, leveraging Generative AI, designing schemas, seamlessly integrating data sources into digital workflows and more. Going forward, Cytora's platform will prepare insurance professionals to navigate, lead in the digital age and accelerate how they scale risk digitization across workflows, lines of business and markets.

"We have curated an extensive range of training resources that will equip learners, whatever stage of their career, with practical insights and hands-on techniques to accelerate how they scale risk digitization across their organization," said Richard Hartley, CEO and co-founder at Cytora.

Munich Re partners with MAPTYCS

Munich Re announced that it will distribute its location risk intelligence data through MAPTYCS, a property and climate risk exposure management company. Munich Re's Risk Management Partners unit, which develops advanced risk assessment capabilities, produces this location intelligence.

The MAPTYCS platform processes large volumes of data and provides risk analytics and visualizations.

"We partner with Munich Re's RPM, because it is in our strategy to offer our clients only the greatest quality risk data across the world from renowned and well-established partners," said Jacqueline Legrand, CEO of MAPTYCS.

Driver Technologies, VOOM partner to offer tailored auto insurance and safety tech

AI mobility technology company Driver Technologies has partnered with insurtech VOOM Insurance to provide tailored auto insurance, along with driving safety technology, to rideshare drivers.

VOOM currently operates in seven U.S. states and plans to expand. VOOM's app for drivers records external video and the company offers a lower deducible to those who enable the recording and share accident footage when making a claim.

"At VOOM, we want to provide our rideshare customers with the best insurance solutions available to account for any potential coverage gaps and connect them with safety tools to help them reach their next destination," said Tomer Kashi, CEO and co-founder of VOOM.