The following summaries are written by the Digital Insurance editorial staff.
Digital Insurance reviews a high volume of news leads every week for this and other stories. Please send press releases and other information to kaitlyn.mattson@arizent.com.
The Standard completes $2B acquisition of Allstate's employer voluntary benefits business
StanCorp Financial Group, The Standard, acquired Allstate's employer voluntary benefits
The agreement includes a future distribution partnership in which The Standard's products and services will be available to Allstate customers. The business includes American Heritage Life Insurance, which will operate under The Standard brand, after a period of time,
Sapiens announces two product enhancements
Sapiens International Corporation announced the latest updates of its Sapiens IllustrationPro, a cloud-based illustration and quoting solution, and of its Sapiens ApplicationPro, a web-based eApp solution. The enhancements include greater automation, risk intelligence and operational efficiencies for agents and advisors that illustrate policies to applicants, manage business users and integrate with underwriting and sales platforms, according to
"By continuously evolving our solutions, we enable insurers to meet market demands with agility, efficiency, and confidence," said Roni Al-Dor, president and CEO of Sapiens, in the announcement. "The latest releases of IllustrationPro and ApplicationPro reinforce our commitment to innovation, providing insurers with the tools to drive superior agent and customer experiences while optimizing their operations."
Travelers' new cyber liability services
The Travelers Companies announced
Lauren Winchester, head of cyber risk services at Travelers, said in a statement: "This new suite of services is designed to help customers more efficiently and effectively predict, prevent and recover from cyber incidents. Being able to prepare for an unexpected cyber event can help customers maintain uninterrupted business operations and avoid spending millions of dollars in recovery."
Roots Automation rebrands to Roots
Roots, the
Chaz Perera, co-founder and CEO of Roots, said in a statement: "While 'automation' was once a key part of our story, it no longer fully captures the innovative, agentic AI solutions we're delivering to our customers. Our new identity is a clearer reflection of our future—a future where AI positively transforms insurance operations, empowers insurance professionals, and delights policyholders."
Shift Technology launches cross-carrier data sharing technology
Shift Technology is providing a new tool for insurers that will help them track and identify fraudulent claims and patterns. Members of the Insurance Data Network will have access to industry-wide intelligence through the multi-carrier exchange program.
The network includes a significant number of auto and property claims across the U.S. Members who participate in the network still retain ownership and control of their data, while having access to a broad range of information that can provide valuable insights into fraud detection and risk assessment.
"IDN empowers insurers to get more value out of their data by providing a secure environment in which to share it and collaborate with other carriers," explained Jeremy Jawish, CEO and co-founder, Shift Technology. "Gaining a more complete understanding of the forces impacting their business and the industry as a whole, and to do so quickly and efficiently, is an amazing value proposition and a new way to harness the power of shared data."
EarthDaily partners with ZestyAI
EarthDaily Analytics, an integrated data processing and analytics company, announced a partnership with P&C property and climate risk platform ZestyAI. According to the press release, ZestyAI's wildfire, hail, wind and storm models will be available through EarthDaily's Ascend platform, providing
"At EarthDaily, we're committed to delivering cutting-edge property insights to customers navigating today's climate risks," said Rachel Olney, vice president of insurance at EarthDaily."With advanced AI models covering wildfire, hail, wind, and property data, ZestyAI is an ideal partner to support our mission. By including their advanced analytics in our Ascend platform, we're excited to empower clients to take proactive steps in managing and mitigating risk with confidence."
