The companies’ successful pilot shows the promise of distributed ledger technology for commercial risk—and shows how insurers can quickly adopt new technology.
Insurers participating in the ISO Preferred Data Partnership program will be able to provide native transactional data on premiums and losses directly to ISO.
The deal creates a complete contract life-cycle management (CLM) platform that enables companies to manage new, legacy and third-party contracts all from one complete solution.
The new offering is designed to save P&C carriers cost through robust features, short implementation times without huge licensing fees, maintenance fees, and upgrade charges.
Many insurers are already feeling the disruptive effects, but by embracing the possibilities of AI there are enormous benefits to be realized for carriers and their customers.
MassMutual’s GAAP, Tax, and Statutory books are now running on one integrated solution.
If done correctly and with the right technology, modernizing databases and data warehouses and applying analytics can improve business outcomes and allow carriers to provide customers with the customized service they crave.
It is a best practice—and a good habit—to initially perform necessary due diligence by conducting a multi-component search, such as a federal and county criminal search, credit check, and RIRS actions.
Treasury departments are migrating their treasury operations to the cloud to help them reduce IT complexity and manage the cost of delivery of vital treasury services, according to Celent.
Automating the company’s reinsurance processing not only helps to ensure accuracy and compliance but also adds efficiencies to the organization.