The carrier’s Proactive Home Protection discount represents an early stage in American Family’s exploration of the potential of the Internet of Things for significantly reshaping the value proposition of homeowners’ insurance—and the insurer/policyholder relationship itself.
The offer, which includes financial incentives from American Family and Ring, exemplifies a trend of new insurance offerings that use IT-driven services that prevent losses and increase customer engagement.
The digital exchange designed to streamline the quote-to-sale process for small small business insurance will continue to operate under its name and leadership.
Policyholders in the insurer’s KnowYourDrive program will immediately have access to all of Automatic’s consumer features, including the ability to identify risky driving behaviors.
The new round, which included participation from AXA Strategic Ventures and MassMutual Ventures, brings One, Inc.’s financing total to over $52 million.
The carrier sought an insurance-focused analytics solution that could be tightly integrated with its existing claim system and featured an extensive array of insurance KPIs, at-a-glance executive dashboards and pre-built and user-configurable metrics.
Hearsay also announces the appointment of insurance software veteran Eugene Lee as VP of Insurance Solutions.
American Family has licensed several of AIR’s catastrophe models for the United States, as well as additional analytics and data quality capabilities.
Factors influencing the success of the project include tight engagement of senior management, the use of a small dedicated implementation team, pragmatic decision making and a commitment to the Agile process.
The Madison, Wisc.-based carrier has chosen FAST Insurance Components for new business and policy admin for a new life insurance product