Property and casualty insurance guaranty funds

NAIC Data Call to Provide Robust Look at Property Insurance Availability, Affordability

Retrieved on:

Giovedì, Novembre 2, 2023

Property, Insurance, Treasury, FIO, Committee, Data collection, Commissioner, Multimedia, NAIC, Federated Insurance Company of Canada, U.S. Department of the Treasury, Office of Inspector General, Property and casualty insurance guaranty funds, Use of Free and Open-Source Software (FOSS) in the U.S. Department of Defense, National Association of Insurance Commissioners, Investment, National Association

Work on the template for the ZIP-code-level data state insurance regulators will request from insurers is continuing under the direction of the Property and Casualty Insurance (C) Committee, chaired by Alan McClain, Commissioner of the Arkansas Insurance Department.

Key Points:

Work on the template for the ZIP-code-level data state insurance regulators will request from insurers is continuing under the direction of the Property and Casualty Insurance (C) Committee, chaired by Alan McClain, Commissioner of the Arkansas Insurance Department.
The NAIC has been engaged in ongoing discussions regarding the data call with members of the insurance industry and state insurance regulators, as well as the U.S. Department of the Treasury's Federal Insurance Office (FIO).
State insurance regulators have been working to add granular data on availability and affordability of property coverage for consumers to the robust financial data on solvency and investments we already have.
This is part of our long-term, robust data collection strategy to help regulators nimbly respond to inquiries related to their property markets.

QIXENT Debuts To Drive Innovation In Insurance With Industry Experienced Leadership

Retrieved on:

Martedì, Ottobre 31, 2023

Principal, P&C, Property, Insurance, ESG, Property and casualty insurance guaranty funds, Technology integration, Organization, DI, File, Process, Cryptocurrency, Management, Social

CHICAGO, Oct. 31, 2023 /PRNewswire-PRWeb/ -- As the insurance industry experiences an influx of new entrants seeking guidance and expertise to navigate an everchanging, often complex, and stringent landscape, Qixent, a modern, dynamic consultancy, is driving transformation in the Property and Casualty (P&C) insurance arena. Founded by industry visionary Randel Bennett, the consultancy, making its debut at ITC Vegas (InsurTech Connect), revolutionizes what's possible for emerging and established players through a compelling, strategic approach and comprehensive services that address the critical needs of the marketplace and the world at large. Whether it is product development related to Environmental, Social, and Governance (ESG), serving underserved, underinsured communities, or getting traditional insurance companies up to speed with technological capabilities, Qixent is ready to support and help solve these pressing quandaries.

Key Points:

Exciting New Consultancy Led by Insurance Veteran Randel Bennett to Join Industry Peers at ITC Vegas October 31-November 2, 2023.
Qixent looks forward to engaging and partnering with others to propel innovation within the insurance sector.
Qixent looks forward to engaging and partnering with others to propel innovation within the insurance sector.
Innovative Product Development and Filing: Qixent offers unparalleled expertise and end-to-end assistance in P&C insurance product development, regulatory compliance, and market deployment.

HOMEE Announces Record Q3 Financial Results

Retrieved on:

Martedì, Ottobre 24, 2023

Professional Services, Data Management, Technology, Insurance, Software, Networks, History, ROI, Property and casualty insurance guaranty funds, P&C, Growth, Property, CAT

HOMEE, the leading Digital Marketplace & Claims Management platform for the Property and Casualty (P&C) insurance industry, today announced record financial results for the third quarter 2023.

Key Points:

HOMEE, the leading Digital Marketplace & Claims Management platform for the Property and Casualty (P&C) insurance industry, today announced record financial results for the third quarter 2023.
“This was our best financial quarter in history across the business, demonstrating our sustained growth in the $100 Billion property claims market,” said Doug Schaedler, CEO of HOMEE.
“Carriers demand immediate ROI and the HOMEE solution is simple for a carrier to implement and realize immediate results.
HOMEE is backed by investment from the insurance industry leading companies; we love working collaboratively with our carrier partners solving the industry’s biggest problems.”
For more information about the HOMEE claims solution contact Brandon Donatelli, HOMEE Chief Revenue Officer at [email protected] .

Canopy Connect Named to Guidewire Insurtech Vanguards Program

Retrieved on:

Giovedì, Ottobre 5, 2023

Workflow, NYSE, Connect, Property and casualty insurance guaranty funds, Insurance, Property, Policy, P&C, Risk management, Management, Guy-wire

BEAVERTON, Ore., Oct. 5, 2023 /PRNewswire-PRWeb/ -- Canopy Connect, creators of the leading insurance technology that streamlines verification of insurance policy information, announced that the company has joined Guidewire's Insurtech Vanguards program, an initiative led by property and casualty (P&C) cloud platform provider, Guidewire (NYSE: GWRE), to help insurers learn about the newest insurtechs and how to best leverage them.

Key Points:

"Canopy Connect has already achieved significant scale and is a valuable addition to our Insurtech Vanguards program," said Laura Drabik, chief evangelist, Guidewire.
"With the groundswell support of more than 8,000 insurance agents, Canopy Connect is rapidly expanding as a digital infrastructure that enables easy user-permissioned data sharing for insurance carriers, insurtechs, agencies and more," said Tolga Tezel, founder and CEO, Canopy Connect.
Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry.
"Canopy Connect has already achieved significant scale and is a valuable addition to our Insurtech Vanguards program," said Laura Drabik, chief evangelist, Guidewire.

Victory Insurance Goes Live on Insurity's Sure Claims Payments, Allowing Near Instant Delivery of Claims Payments and Increased Payment Optionality for Policyholders

Retrieved on:

Martedì, Agosto 8, 2023

Apps, Applications, Technology, Mobile, Wireless, Insurance, Payments, Professional Services, Software, Networks, Data Management, Workforce, MGA, Workflow, Property and casualty insurance guaranty funds

This successful implementation of Sure Claims Payments enables Victory Insurance to dramatically improve the claimant and vendor experience and manage claims payments through issuance with an integrated digital payment platform.

Key Points:

This successful implementation of Sure Claims Payments enables Victory Insurance to dramatically improve the claimant and vendor experience and manage claims payments through issuance with an integrated digital payment platform.
The successful integration of Sure Claims Payments with Workers' Comp Suite proves Victory Insurance is delivering on its commitment to provide an exceptional experience for its policyholders and related payees.
Sure Claims Payments delivers payments directly to policyholders and associated vendors in as little as 30 seconds after payment approval.
"Victory Insurance has already begun issuing fast and secure payments to our claimants and vendors now that we are live on Sure Claims Payments," said Keith Brownfield, Victory Insurance's CEO.

Guidewire Wins “Innovative Best Alliance Practice” in 2023 ASAP Alliance Excellence Awards

Retrieved on:

Giovedì, Giugno 15, 2023

Guidewire (NYSE: GWRE) announced the Association of Alliance Professionals (ASAP) has named Guidewire a winner of the 2023 ASAP Alliance Excellence Awards.

Key Points:

Guidewire (NYSE: GWRE) announced the Association of Alliance Professionals (ASAP) has named Guidewire a winner of the 2023 ASAP Alliance Excellence Awards.
Guidewire was recognized for its “Innovative Best Alliance Practice” during the 2023 ASAP Alliance Excellence Awards ceremony, an annual event that recognizes the best of the best in alliance management.
“We are thrilled to be selected as a 2023 ASAP Alliance Excellence Award winner,” said Lisa Walsh, Group Vice President, Global Consulting Alliances, Guidewire.
The ASAP Alliance Excellence Awards are the alliance management community’s most prestigious honor and the world’s only awards celebrating advancements in the increasingly critical practice of executing strategic alliances.

SiriusPoint Reports 80.5% Combined Ratio for its Core Operations at Q1 2023 with Net Income Up $358m Year On Year

Retrieved on:

Mercoledì, Maggio 3, 2023

(1) Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures.

Key Points:

(1) Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures.
Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures.
Income for the three months ended March 31, 2023 consists of underwriting income of $107.4 million (80.5% combined ratio) and net services income of $12.8 million, compared to underwriting income of $12.7 million (97.5% combined ratio) and net services income of $14.0 million for the three months ended March 31, 2022.
Core underwriting income, Core net services income, Core income, and Core combined ratio are non-GAAP financial measures.

Neural Claim System Announces Todd Ackerman as Chief Executive Officer

Retrieved on:

Giovedì, Aprile 13, 2023

Neural Claim System (NCS), a leading glass claim technology provider to the Property and Casualty insurance industry, recently announced Todd Ackerman as its new CEO.

Key Points:

Neural Claim System (NCS), a leading glass claim technology provider to the Property and Casualty insurance industry, recently announced Todd Ackerman as its new CEO.
Headquartered in Chandler, Arizona, Neural Claim System is a specialized Artificial Intelligence Technology Company excelling in automotive AI glass damage detection, decisioning and part sourcing.
Todd Ackerman is an experienced 30 plus year insurance industry veteran holding corporate auto physical damage claims, property catastrophe claims and customer experience leadership positions at Nationwide Insurance.
Jim Larson stated, “Todd is a seasoned senior executive and a strong strategic thinker.

CPIC: Building High-Quality Service Capabilities with Brand Image Highly Recognised by the Market

Retrieved on:

Giovedì, Marzo 16, 2023

In recent years, with the gradual increase in residents' awareness of insurance, the insurance industry has developed at a rapid pace and has attracted considerable market attention.

Key Points:

In recent years, with the gradual increase in residents' awareness of insurance, the insurance industry has developed at a rapid pace and has attracted considerable market attention.
Thus, the Company has established an excellent brand image in the Chinese insurance industry and has been widely recognised by the public and the market.
Meanwhile, the wishes of customers were fully respected to unblock the green service channel, and the Company maintained close communication with relevant parties.
The high-quality claim service not only fulfilled the insurance promise of CPIC, but also embodied the service concept of "Responsible, Smart and Caring" of the Company.

Insurity Enables Digital Payments to Transform Claims Payments Process for P&C Insurance Organizations

Retrieved on:

Martedì, Dicembre 13, 2022

Sure Claims Payments , powered by Dream Payments and with connectivity to J.P. Morgan Payments, enables P&C insurance organizations to significantly improve their end user experience through a modern, elegant, and automatic disbursement process, while still maintaining a fallback check fulfillment capability.

Key Points:

Sure Claims Payments , powered by Dream Payments and with connectivity to J.P. Morgan Payments, enables P&C insurance organizations to significantly improve their end user experience through a modern, elegant, and automatic disbursement process, while still maintaining a fallback check fulfillment capability.
The payments solution enables insurers to manage payments with a single process flow, cut costs by as much as 50% when switching from check to digital payments, and differentiate the claims experience for policyholders.
Through the collaboration between Insurity, Dream Payments, and J.P. Morgan Payments on Sure Claims Payments, this becomes a reality.
We are delighted to partner with Insurity as it enables embedded and real time claims payments across the insurance ecosystem, said Brent Ho-Young, Dream Payments CEO.