LIFE INSURANCE, INSURANCE TECHNOLOGY
Businesswire | June 01, 2023
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced a new partnership with Empathy, the innovator behind the leading platform that helps families navigate the emotional and logistical challenges of loss. This partnership will provide life insurers with tech-powered services to aid them in delivering comprehensive bereavement support to beneficiaries.
Empathy’s recently published installment of its annual Cost of Dying Report sheds light on the financial and emotional demands of loss, finding that the average bereaved family spends close to $5,000 on all legal matters, yet under 15% of these families have access to life insurance or dedicated funds to settle the estate. The strain faced by bereaved families presents both a challenge and an opportunity for life insurance carriers, as they work with families struggling through these burdens every day. Insurance providers are in a unique position to go beyond a financial payout and act as a source of support, guidance, and information for grieving beneficiaries.
“If you want to build a relationship of trust and generational loyalty with beneficiaries, the first step is providing valuable support that acknowledges the nature and significance of the burden they face,” said Ron Gura, Co-Founder & CEO of Empathy. “Our experience has taught us that the burden of loss is both broad and deep, and life insurers can play a leading role in supporting bereaved families as they navigate emotional and logistical challenges. Partnering with industry leaders like Majesco further simplifies the implementation of our services with insurers of all sizes, meeting beneficiaries where they are. Together, we are transforming transactions into relationships and sticking around with families in the days, weeks, and months following their loss.”
Both Empathy and Majesco provide unique solutions for insurance companies seeking to better support their beneficiaries. Over 350 insurers, from startups to some of the world’s largest insurance companies, use Majesco’s SaaS solutions to anticipate what’s next and deliver customized experiences that customers rely on. Empathy’s bereavement care platform accentuates that support, ensuring that beneficiaries have access to comprehensive grief care and helping them wind down their loved one’s affairs with full administrative assistance.
“The life, annuity and health market is evolving in its understanding of ways in which insurance providers can improve operationally and create long-term value for beneficiaries especially during their most difficult and critical moments,” said Ray Law, SVP & GM of Products at Majesco. “As a company focused on delivering outstanding experiences for customers, we pride ourselves on selecting innovative partners like Empathy to maximize the support we are able to offer to the people we serve.”
Empathy is the comprehensive support system for loss, offering bereaved families holistic guidance and care for all of the administrative, emotional, legal, and financial challenges they face after their loved one passes away. Empathy's award-winning app and care team are trusted by leading employers and insurance carriers to support their employees and beneficiaries through life's greatest challenges, saving them time, money, and stress. Headquartered in New York and recognized as a Top Digital Health Company by CB Insights, as well as a Most Innovative Company by FastCompany, Empathy has raised $43 million in funding from leading investors including General Catalyst, Aleph VC, and Entrée Capital. To learn more about Empathy, visit us at empathy.com.
Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 330 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now.
As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 825+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.
CORE INSURANCE, INSURANCE TECHNOLOGY
Businesswire | June 09, 2023
Talon Cyber Security, the leader in enterprise browser technology, today announced that Lemonade, Inc. (NYSE: LMND) has chosen the Talon Enterprise Browser to more easily navigate post-acquisition business integrations and to secure unmanaged devices in use across its environment.
Lemonade, the digital insurance company powered by AI and social impact, offers renters, homeowners, car, pet and life insurance. The company uses machine learning to make insurance instant and simple for individuals and is expanding globally.
Dealing with a complex, distributed workforce and business integration efforts following an acquisition in July 2022, Lemonade made the decision to simplify its security stack by deploying the Talon Enterprise Browser. Lemonade evaluated other browser security solutions, and ultimately selected Talon due to its advanced protection capabilities, granular control features, superior user experiences, and the wide range of use cases the solution addresses.
“As a company that prides itself on its ability to make life easier for our customers, we could not consider any solution that was going to hinder the productivity of our workforce,” said Jonathan Jaffe, Chief Information Security Officer, Lemonade. “We needed a technology that was easy to use, did not change how our users work, and would give us the enhanced protection we were looking for. The transition from Chrome to Talon’s browser was frictionless for our users, and has helped us better secure our environment.”
As a growing company, Lemonade may use third-party partners to support its business and scale operations. These third parties may work from unmanaged devices that Lemonade’s security team would have little visibility into if not for Talon. By requiring access from Talon’s non-invasive browser on these devices, Lemonade’s security team gains pivotal visibility and control, extending the security of the organization to these users.
“We can secure any user across the organization, irrespective of the type of device used,” added Jaffe. “This allows us to onboard more people, more quickly, and simplify the process. With Talon, we can improve onboarding in a way that prioritizes security.”
Talon’s Enterprise Browser simplifies and improves security by allowing organizations to secure any user, in any location, on any device. With Talon, security teams benefit from deep visibility into and control over browser and web activity, including protections around screenshots, copy and paste, downloads and uploads, and enterprise-grade security features like authentication, data loss prevention and Zero Trust controls. Based on Chromium, Talon’s Enterprise Browser drastically reduces the cost and complexity of security programs, while protecting end-user privacy and delivering superior user experiences.
“To be entrusted with securing Lemonade’s workforce is an honor,” said Ofer Ben-Noon, co-founder and CEO, Talon Cyber Security. “We are confident that Talon’s approach of securing users at the very point they interact with corporate applications and data – the browser – will be a competitive advantage for Lemonade going forward. We look forward to working closely together to ensure that their team realizes unmatched value from our solution.”
About Talon Cyber Security
Talon Cyber Security enables customers to secure any user, in any location, on any device with its market leading enterprise browser. Built on Chromium, the Talon Enterprise Browser provides customers with the consistent user experiences, deep security visibility, and control over SaaS and web applications needed to simplify security for the modern enterprise. Talon was named the Most Innovative Startup of 2022 at the prestigious RSA Conference Innovation Sandbox Contest. For more information, visit Talon at talon-sec.com, or connect on LinkedIn and Twitter.
Lemonade is digital insurance built on social impact. That means you can sign up instantly to cover your stuff, home, pets, family and car all within one app. It also means your unused premiums are donated to a charity of your choice through Lemonade’s Giveback, which has given over $4 million to non-profit organizations around the world.
WORKERS COMPENSATION, INSURANCE TECHNOLOGY
PRnewswire | June 08, 2023
NEXT Insurance, a leading digital insurtech transforming small business insurance, today announced its expanded partnership with Gusto Embedded. The strengthened partnership will exclusively offer NEXT's pay-as-you-go workers' compensation to the small business customers of Gusto Embedded partners through NEXT's industry-leading, fully embedded insurance solution, NEXT Connect. Users can benefit from NEXT's technologically advanced, in-house pay-as-you-go offering for workers' compensation which enables better cash flow management for small businesses and ensures they only pay for the coverage they need. This solution marks the first time workers' compensation insurance is being offered through an embedded payroll experience.
Available now, small business owners can get a free quote within minutes and sign up for a pay-as-you-go workers' compensation policy to protect their businesses from unexpected expenses, all within the third-party SaaS platforms, taking advantage of this unique embedded fintech partnership.
"NEXT and Gusto Embedded unite under the shared goal of supporting small businesses across the U.S. with the tools they need to simplify two of the most complex functions they'll face at work: insurance and payroll," said Eran Liron, Chief Strategy Officer at NEXT Insurance. "Offering this digital embedded payroll experience together with Gusto allows us to streamline this process, making it easier and more convenient for small business owners to stay compliant and protect themselves, all from the partners they trust most."
With NEXT Connect, signing up for workers' compensation can be seamlessly integrated into a third-party software at the time of payroll onboarding or elsewhere in the user interface. This enables more contextual offers for payroll and workers' compensation based on customer data or activity, including in-app notifications about the next steps that should be taken once you've hired your first employee. NEXT and Gusto Embedded's partnership enables a more convenient way for small businesses to stay compliant and protect themselves.
"Allowing small businesses to access reliable payroll and pay-as-you-go workers' comp products embedded in the software solutions they use already saves them time, reduces errors, and gives them peace of mind," said Yi Liu, General Manager of Gusto Embedded. "The expanded solution with NEXT allows our partners to offer small businesses workers' compensation seamlessly and quickly, while also advancing our goal of helping businesses create great places to work and helping our partners grow revenue."
NEXT Connect enables small business partners in industries including payroll, POS (point of sale), accounting, e-commerce, banking and others to purchase fast and affordable insurance coverage in a way that is convenient for them, either entirely online or with the assistance of a licensed insurance agent.
About NEXT Insurance
NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by over 450 thousand business owners, NEXT offers policies that are easy to buy and provides 24/7 access to Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and provide more affordable coverage. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $881 million in venture capital funding, is rated "A- Excellent" by AM Best and has been recognized by CNBC Disruptor 50, Forbes Fintech 50, Inc.'s Best-Led Companies, and Forbes Best StartUp Employers. To learn more about partnering with NEXT and the value of embedded insurance, please visit NEXT's partner page. Stay up to date on the latest with NEXT on Twitter, LinkedIn, Facebook and our blog.
Gusto is a modern, online people platform that provides more than 300,000 SMBs with the tools and services they need to hire, pay, insure, and support their teams. Gusto Embedded, a developer platform and support infrastructure, enables software platforms to offer in-app, modern payroll products to their customers as well. With Gusto Embedded, SaaS developers can leverage Gusto's 10+ years of experience as well as Gusto's tax filing, payments, and compliance infrastructure in order to build deeply integrated, tailored payroll products that improve the user experience and drive revenue.