The new Advantage Market Finder created by the integration partnership uses Ask Kodiak’s commercial insurance marketplace engine to match customer need to distributor appetite in real time.
The State Farm company’s auto insurance policies reward good driving decisions detected through a smart phone app and factored into premium on a monthly basis.
The company decided to take a first-mover advantage and invest earlier than some competitors in a market that has about $6 billion of insurance technology spend.
The vendor calculates that the addition of Kronos’ CRM and financial needs analysis tools will facilitate a vertical integration among investment insurance carriers, distributors, and others.
The event combined presentations and panel discussions on the commercial insurance/enterprise risk management theme, showcases of relevant startups, and networking.
Travel Guard Group Canada’s powered by InsurTech JAUNTIN’, uses GPS to enable travelers to utilize coverage from the moment they leave their home province until they return.
The new server packages are powered by Dell PowerEdge R440 and Dell PowerEdge R540 respectively, and the vendor is currently exploring AMD-powered Dell equipment.
The financial needs analysis tools will support the insurance group’s client engagement priority by providing choices for how clients can interact with the organization.
We may see an even larger wave of InsurTech capital in the coming years, continuing the upward trend in overall market funding, which has increased for six straight years.
The cloud-based system will introduce greater efficiency into underwriting processes and enable quicker reaction to market opportunities.