CNA, the first U.S.-based commercial insurer to adopt FORCE, will use the SaaS-based application to automate fraud detection.
The homeowners insurer has integrated Verisk data for quote prefill and for evaluating whether claims can be processed quickly or require more investigation.
The vendor will use the round led by Bessemer Venture Partners, to drive development of its fraud detection and claims automation solutions and further expand geographically.
The funding will primarily be used to accelerate the development of Claimbot’s AI-enabled virtual chat engine, as well as expand the company’s sales and product development teams.
The partnership combines Verisk’s Driving Score with the TrueMotion smart phone telematics platform, resulting in greater speed-to-market for insurers.
The Employers Holdings subsidiary’s no-IT-infrastructure approach was made possible by its use of Duck Creek’s OnDemand SaaS Solution and Anytime API capabilities.
Every property insurer must be actively engaged and following the developments in the smart home/property area and must maintain an ongoing conversation with agents and policyholders about their needs.
The appointment comes at a time of rapid growth, as the vendor has doubled its revenue in the last six months and grown its customer base by a factor of six in the past year.
Building on Roost’s success in personal property insurance, the wireless solution is designed to help commercial insurers lower water and fire costs, increase customer engagement and collect actionable data.
Combining several of ISO’s existing solutions, GPA is designed to help a growing number of insurance professionals seeking data-driven insights to enhance their decisions.