JLT worked with HSCM Bermuda and MAPFRE RE to develop a bespoke risk transfer and reinsurance agreement made possible by Metromile’s innovation.
The initiative to create the world’s first marine insurance blockchain platform was undertaken in collaboration with ACORD, A.P. Møller-Maersk A/S, Microsoft, MS Amlin, Willis Towers Watson and XL Catlin.
DataCubes’ platform enables carriers to accurately quote commercial insurance policies by asking customers a few simple questions.
While insurance uses are mostly speculative at this point, AR and VR have significant potential for driving improvements in areas such as efficiency, customer experience and risk avoidance.
Digital Insurance as a Service is designed to deliver a streamlined, consumption-based approach to better digital engagement for carriers striving to achieve digital transformation while upgrading core technology.
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.