A meeting with attorneys resulted in a spark of innovation addressing a pattern of fraud whereby perpetrators cause accidents and wait until the last moment within the statute of limitations to file a claim or sue.
The SaaS platform has been developed to address legacy technologies shortcomings, reducing IT costs and finding more efficient ways to respond to business and regulatory pressures.
Building on an existing score that combines driver behavior and road characteristics, the new scoring function provides separated views of risk tailored to the respective needs of insurers and fleets.
Access through on-demand, web-based platforms increase speed and convenience of parcel boundary data delivery.
The new solution enables the insurance industry to generate a more distinct and expansive view of hurricane risk in real-time to enhance underwriting processes and risk management.
The service’s historical weather data can help to fight fraud, speed the claims process, manage weather-related risk, and boost customer satisfaction.
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.