Buckle and Origami Risk | September 08, 2022
Buckle, the financial services company providing auto insurance solutions for the gig economy, has selected Origami Risk’s multi-tenant SaaS P/C platform to support policy administration, billing, and advanced analytics for its auto insurance programs.
In addition to providing technology-based tools and functionality, Origami’s platform will enable Buckle to deliver more robust services with greater speed to its rapidly expanding and specialized customers, partners, and members throughout the United States.
"Our members and partners expect and deserve new and innovative products, so we continually enhance our technology to support their needs. This platform offers a scalable solution for our ambitious growth and continued momentum,”
- Adam Landau, chief information officer of Buckle
Our policy administration, billing and risk management resources are ideally suited to meet the needs of Buckle as it continues to grow its dynamic and innovative business, These capabilities are among several innovative solution sets we’ve developed to help carriers, pools, program administrators and other insurance providers drive efficiencies across critical functions, meet customer needs, and improve overall performance,said Christopher Bennett, president, Core Solutions division, Origami Risk.
Origami Risk offers a full suite of end-to-end, integrated SaaS solutions for policy, rating, billing, loss control and claims administration, reporting and analytics, along with a comprehensive digital engagement experience for all internal and external stakeholders.
Buckle is the digital financial services company providing insurance for the gig industry. Serving the vital, rising middle class, Buckle protects drivers across personal, rideshare, and delivery driving for leading companies including Uber, Lyft, DoorDash, Gopuff, Instacart, Amazon Flex, Uber Eats, Grubhub, Favor, Shipt, and more. The company also offers insurance solutions for select partners. Buckle has received awards for 2022 including Best of Insurance, Best Rideshare & Delivery Driver Insurance Specialists, a Fastest Growing Company, Most Innovative Rideshare Auto Insurance Product Provider, Best Tech Startup, an InsurTech 50, and more.
About Origami Risk – Core Solutions Division
Origami Risk provides integrated SaaS solutions that simplify insurance, risk, and safety for insurers, managing general agents (MGAs), program administrators, third party claims administrators (TPAs), risk pools, brokers and more. Origami Risk delivers its highly configurable and completely scalable integrated insurance core system, risk management and safety solutions from a secure, multi-tenant platform accessible via web browser and mobile app.
Verikai | September 07, 2022
Insurance technology startup, Verikai, launches Med/Rx to build on their existing product base and further optimize the underwriting process for their carrier clients. Verikai uses machine learning models to give insurers a deeper view of risk, using extensive clinical and behavioral data to create risk scores. Now, with the addition of Med/Rx, carriers will be able to run group reports through Verikai's platform to establish a baseline of high-cost conditions and prescriptions that appear in each group.
The Med/Rx report includes 10,000 of the most expensive medical diagnoses, including cancers, chronic illnesses, mental disorders, injuries, and drug abuse - to name a few. The Rx half of the report provides all known prescription data on a group, broken down by pricing category (generic, brand, and specialty drugs). As Med/Rx takes shape, Verikai will continue to update the product with additional medical conditions and deeper insights into price.
"Our mission is to utilize our unique dataset and machine learning technology to provide the insurance industry with the best insight, so underwriters can make the most accurate decisions possible around evaluating risk. Med/Rx will offer our health insurance customers historical claims, medical, and Rx data - on-demand, within minutes."
-Verikai's President and CEO, Jeff Chen
We have been working on this product for over a year and coupled with our risk scores from our flagship Capture product, underwriters will have the most powerful set of predictive risk tools at their fingertips, all within a single platform. There is no other predictive risk vendor on the market that offers carriers a complete and holistic view of risk like Verikai does. We look forward to the positive impact Med/Rx will have on the industry for years to come,Jeff Chen.
Within the predictive risk space, Verikai is known as "The Future of Underwriting," based on their use of behavioral data to predict future risk. Now, with Med/Rx providing historical risk indicators, the competitive edge for Verikai customers is unparalleled.
Founded in 2018, Verikai is an insurance technology company leveraging alternative data and machine learning to change the way the industry views risk. Our well-established database of more than 1.3 trillion data points includes over 5,000 behavior attributes for 250+ million people in the United States and provides deep insight into these individuals' true health risks. With this data, Verikai generates risk reports in real time with only a census. With Med/Rx, those risk reports are coupled with historical claims and prescription data, giving our customers every underwriting tool available. This greater insight helps insurance companies increase new business, reduce losses, and improve efficiency in the underwriting process - and ultimately, provides consumers and businesses with greater access to a broader range of insurance products.
Distinguished Programs | August 29, 2022
Distinguished Programs (Distinguished), a national insurance program manager, today officially announces the expansion of Coastal Builder's Risk coverage to five additional states – Alabama, Hawaii, Mississippi, Rhode Island and commercial properties only in Texas. The Distinguished Coastal Builder's Risk Program covers all risks for brand new construction, remodeler's risk and betterments only projects in select states.
"When we launched the Coastal Builder's Risk program last year, the broker response was incredible, Available coverage in the market is shrinking, and brokers need options for these harder-to-insure properties. We are thrilled to introduce our comprehensive Coastal Builder's Risk program to brokers in these new states."
-Katie Vespia, Managing Vice President of Builder's Risk Program at Distinguished
This program offers flexible initial policy terms (up to 24 months) with extensions available. Beachfront and barrier island properties are acceptable. Additional coverages include named storm deductible, wind coverage, theft and vandalism coverage, debris removal and more.
Brokers can submit business for the Distinguished Builder's Risk (Coastal and Non-Coastal) Program through the 24/7 Online Portal. Brokers must be registered first to submit.
About Distinguished Programs
Distinguished Programs is a leading national insurance program manager providing specialized insurance programs to brokers and agents with specific expertise in Real Estate, Community Associations, Hotels, and Restaurants. Property and liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished Programs' high-limit umbrella programs remain the clear choice in its areas of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1987, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.