The Canadian general insurer will leverage Guidewire Core and Data products in the cloud to drive innovation and speed-to-market and increase business growth.
The funding round brings the digital small business insurance startup’s total funding to $381 million in just over three years, with a valuation of over $1 billion.
Enhancements to the software provide an improved user experience and help insurers eliminate input errors, speed turnaround times and focus underwriting on profitable business.
The no-code, end-to-end enterprise software vendor will use the funds to drive expansion into new geographic and vertical markets and grow its engineering team.
ALLFINANZ will help the company deliver auto-underwriting capabilities, create cost and process efficiencies in its Swedish insurance business, and improve its customers’ experience when applying for life insurance.
ClaimCenter will be implemented and delivered as a SaaS solution via Guidewire Cloud, powered by Amazon Web Services.
The Insurance Technologies solution enables Ohio National to enhance and speed-up policy and document delivery to clients while improving back-office efficiencies and processes.
Created in collaboration with CLARA Analytics, the CMX platform uses AI to read claim notes on open files and enable North American insurers to process claims more efficiently.
InsureTech Connect’s co-founder explored topics such as M&A, non-traditional new entrants to insurance, the API economy, and the possibility of ‘invisible’ insurance in his opening remarks.
The new release is designed to give insurers the ability to expand claims payment methods to include ACH, ClaimsCard instant payments, check processing, and direct-to-debit.