(Image credit: Dimitry Anikin/Unsplash.)
HDI Global, a Chicago-based international industrial lines insurer and member of the Talanx Group (Hanover, Germany), has adopted Verisk’s (Jersey City, N.J.) Mozart Form Composer, the vendor’s InsurTech platform for forms management and product development. The solution will enable HDI to easily find forms across hundreds of commercial and specialty lines of business, identify language that needs to be updated and make revisions with speed and precision, according to a Verisk statement.
“Ensuring that all of our policy forms are updated and easy to access can be a major challenge,” comments Marco Hensel, SVP, North America underwriting services, HDI. “Verisk’s Mozart will provide a centralized library for all of our forms and enable us to quickly identify and prioritize revisions, manage review processes and offer coverages that meet the evolving needs of the marketplace.”
Mozart contains a number of features to help insurers increase operational efficiencies and speed to market, including the following, as described by the vendor:
- Workflow tools to help insurers research, collaborate on shared work and manage internal approvals
- Form analytics that use natural language processing to help insurers identify and evaluate similarities and differences in forms language with ease
- Automation that enables insurers to update language in multiple forms simultaneously to enhance consistency
“We are excited for HDI to join the Mozart community to help transform their forms management and development processes,” said Deborah Morris, SVP, commercial lines underwriting, Verisk. “Mozart makes it significantly easier for insurers to support consistent policy language across their forms portfolio and help minimize potentially unexpected claims or lost premium.”