The feature monitors how a phone is being used during a trip, detects risky behaviors and communicates details and score to the insurer and UBI policyholder.
Without leadership commitment and tolerance for failure, insurers may perform “innovation theater” but are unlikely to be prepared when end of the next decade of change sneaks up on them.
The new bureau business is expected to enable significant reductions in the cost of transacting general insurance in the U.K. market.
The company touts a speed quote and purchase process and advances on conventional policies, such as full coverage of items policyholders are more likely to own today, and an IoT-driven loss prevention strategy.
The core-to-digital suite is pre-integrated and modular, and can be installed as part of a complete transformation initiative, or implemented as standalone components.
The company says that it will do what it can to accelerate Lemonade’s rapid expansion throughout the U.S. and beyond.
The addition of SiSi’s capabities enables LIDP to expand its service delivery capabilities to best serve a rapidly growing customer base of life and annuity carriers seeking to modernize their core systems.
A Guidewire client since 2008, the insurer will implement the vendor’s Guidewire Quote and Buy Portal for Policyholder, Account Management Portal for Policyholders, and Guidewire Live apps.
The company reports that its rideshare insurance offering will available for Uber, Lyft and other rideshare drivers nationwide by the end of 2017.
More than 50 percent of the North American insurers are making major enhancements to existing mobile apps or building new mobile apps in 2017.