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Social Media, Risk, and Policies for Associations

From member engagement and volunteer management to thought leadership and word of mouth marketing, social media is empowering associations and charitable organizations to accomplish more by leveraging relationships. With every passing month of writing and speaking, we have watched hundreds of association executives come to a very important, if somewhat scary, revelation. Engaging in social media requires a shift in the way associations view themselves and their relationships with members. The shift is happening on a cultural, organizational.

Spotlight

ERV Group

As part of ERGO Insurance Group, which belongs to world’s largest Re-insurance Company Munich Re; and being a leading global provider of New Generation Travel Insurance-solutions, ERV has a proven record of enhancing our partner’s brands. We have developed our products and services over 100 years and providing our products in over 40 different countries worldwide.

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Claims

Insurers Are Preparing to Accelerate Growth in 2022

Article | July 15, 2022

Despite ongoing concerns about COVID-19 variants, most insurers anticipate a faster economic recovery and increased investments in digital technology in 2022. One-third of those polled expect revenues to be "significantly higher" next year. The global demand for insurance is expected to rise further. Insurers face a variety of challenges, including economic hurdles such as the possibility of sustained inflation; sustainability concerns such as climate risk, diversity, and financial inclusion; and rapidly changing consumer product and purchase preferences. Attracting (and Retaining) Talent Will Be Critical in a Hybrid Work Environment Future of work considerations have also grown in importance as carriers strive to develop flexible return-to-office strategies while also struggling to retain and recruit high-level talent in a highly competitive job market, particularly for those with advanced technology and data analytics skills. Insurers Must Find a Way to Balance Technological Adoption with the Preservation of the Human Touch Insurers are becoming more reliant on emerging technologies and data sources to increase efficiency, improve cybersecurity, and expand capabilities across the organization. Most, however, should focus on improving the customer experience by streamlining processes with automation and providing customized service where needed and preferred. Opportunities to Increase Stakeholder Trust Have Arisen as a Result of the Pandemic On a more fundamental level, many carriers should consider taking steps to increase stakeholder trust in order to increase retention and profitability. This could be accomplished in part by increasing transparency in how insurers collect and use personal data. They can also become more proactive in seeking comprehensive solutions to large-scale societal issues, such as reducing the financial impact of future pandemics and closing coverage gaps for natural disasters.

Read More
Insurance Technology

Digital Transformation in Insurance Industry

Article | July 15, 2022

Insurers of the future will play more of a risk avoidance role and less of a risk mitigation one. The seemingly effective yet simple ideas of Netflix, Uber, Ola, Amazon, and many other ideas have forever transformed their industry segments. Digital transformation in the insurance industry is embraced in various ways to address the complex challenges posed by consumers, regulatory, and digital landscapes. To keep up with insureds' demands, insurers have had to digitize various aspects of their operations. Any company that wants to stay competitive in today's market must meet customers where and when they need it. Insurance's digital transformation, powered by artificial intelligence, machine learning, predictive analytics, mobile services, live chat, and other technologies, enables insurers to do just that and will continue to change the industry for years. Insurance Companies to Look at Value Chain through a Digital Lens: Gain First-Mover Advantage: Product introduction to gain a potentially sustainable competitive advantage. To achieve the first-mover advantage, the insurer should have two crucial capabilities: the ability to pinpoint unmet customer needs to guide product development and quickly adapt existing products to market forces. Reduce IT costs to fund innovation: When insurance companies refactor monolithic applications into modular micro services, application maintenance costs are reduced. Grow revenue by differentiating the customer journey: Electronic document capture and processing, robotic process automation (RPA), and robo-advisors improve serviceability and help businesses gain a competitive advantage. Despite market participants' claims that the insurance industry was not an early adopter of digital transformation, new players, business models, and demanding customers are forcing the industry to embrace digital technologies. As a result, the global insurance market is expected to grow by 45% between 2022 and 2025. Modern digital engineering does not occur in a vacuum; new products must be compatible with existing technologies and processes. Ascertain that the development team understands legacy insurance applications and the data required to integrate them with new, digitally engineered products.

Read More
Insurance Technology

10 Most Impactful AI-based Insurance Innovations of 2019

Article | July 14, 2022

The year 2019 has been a benchmark in insurance innovations that brought in new value propositions to the industry. What’s more remarkable is — both traditional Insurers and Insurtechs are striving to offer simple, convenient, and value-added customer-centric products coupled with technology initiatives. Here are 10 noteworthy insurance innovations that shaped the industry this year.

Read More
Insurance Technology

Why Are Insurers Excited about Embedded Insurance?

Article | May 20, 2022

The traditional insurance business has been resistant to technological change for a long time. However, the industry has made significant progress over the last decade due to the implementation of the innovative InsurTech solution, which disrupted long-held market patterns. Technological changes have made insurers work intelligently through new strategies for attracting a new generation of customers. Embedded insurance is a trillion-dollar opportunity for insurers, giving them the chance to make new streams of money and lower their costs of distribution. In totality, embedded insurance is a new frontier of product innovation in insurance based on rising customer use of digital services. It presents a $3 trillion market potential in the finance industry. Narrowing the Gap that Existed Embedding digital into insurance eradicated all the gaps that existed before. Earlier, many customers felt a burden or found it unnecessary to purchase a one-off insurance policy to protect a new possession. In contrast, at present, embedded insurance products for customers are covered with protection against losses. This has given customers the ultimate peace of mind. InsureTech has provided insurers with improved data capture tools to conduct faster and more customized underwriting with applications. To reinvent insurance business models, embedded insurance as one of the InsurTech solutions has appeared efficient in filling the gaps in the insurance business. Most insurance companies proactively recognize gaps such as irrelevant data capture, inaccurate customer information, and sluggish data retrieval processes. Thus, they are attempting to incorporate their products into an embedded structure where they can engage with digitally relevant consumers at their chosen time and place. Hence, embedded business intelligence for insurance creates a win-win situation for both the consumer and the insurer in the future. Embedded Insurance Presents Opportunities Why is embedded insurance becoming popular? Because it empowers customers the most. Embedded insurance is beneficial to insurers seeking new ways to reach wider audience in one go. According to Bazaarvoice, a software technology company, 47% of consumers worldwide and 65% of US buyers now purchase online insurance products and services more frequently compared to the years from 2017 to 2020. Today, with the help of technology, most insurance companies now embed their products virtually anywhere through open APIs. So, by integrating products into a virtual platform, insurers can deliver personalized products within a suitable period, perform real-time risk assessments, gain data, and calculate accurate pricing. The insurers who gain this edge of benefit from technology need to be prepared to learn everything they can about their customers’ insights, behavior, requirements, and inclinations. Embedded Insurance: Today and Beyond Embedded insurance is a fantastic tool for insurers to enhance insurance penetration, particularly in the remote workspace model. However, to succeed with it, firms must find the correct balance between speed and efficiency of operations, detailed study of customer interests, and compliance with data. Having mentioned that, it is emerging as a new way to distribute insurance services online efficiently, solving the protection gap to expand in the future.

Read More
Claims

The Age of Sustainable Fixed-Income Investing Has Arrived

Article | July 15, 2022

Despite ongoing concerns about COVID-19 variants, most insurers anticipate a faster economic recovery and increased investments in digital technology in 2022. One-third of those polled expect revenues to be "significantly higher" next year. The global demand for insurance is expected to rise further. Insurers face a variety of challenges, including economic hurdles such as the possibility of sustained inflation; sustainability concerns such as climate risk, diversity, and financial inclusion; and rapidly changing consumer product and purchase preferences. Attracting (and Retaining) Talent Will Be Critical in a Hybrid Work Environment Future of work considerations have also grown in importance as carriers strive to develop flexible return-to-office strategies while also struggling to retain and recruit high-level talent in a highly competitive job market, particularly for those with advanced technology and data analytics skills. Insurers Must Find a Way to Balance Technological Adoption with the Preservation of the Human Touch Insurers are becoming more reliant on emerging technologies and data sources to increase efficiency, improve cybersecurity, and expand capabilities across the organization. Most, however, should focus on improving the customer experience by streamlining processes with automation and providing customized service where needed and preferred. Opportunities to Increase Stakeholder Trust Have Arisen as a Result of the Pandemic On a more fundamental level, many carriers should consider taking steps to increase stakeholder trust in order to increase retention and profitability. This could be accomplished in part by increasing transparency in how insurers collect and use personal data. They can also become more proactive in seeking comprehensive solutions to large-scale societal issues, such as reducing the financial impact of future pandemics and closing coverage gaps for natural disasters.

Read More
Insurance Technology

Cybersecurity Material for Private Companies

Article | July 15, 2022

Insurers of the future will play more of a risk avoidance role and less of a risk mitigation one. The seemingly effective yet simple ideas of Netflix, Uber, Ola, Amazon, and many other ideas have forever transformed their industry segments. Digital transformation in the insurance industry is embraced in various ways to address the complex challenges posed by consumers, regulatory, and digital landscapes. To keep up with insureds' demands, insurers have had to digitize various aspects of their operations. Any company that wants to stay competitive in today's market must meet customers where and when they need it. Insurance's digital transformation, powered by artificial intelligence, machine learning, predictive analytics, mobile services, live chat, and other technologies, enables insurers to do just that and will continue to change the industry for years. Insurance Companies to Look at Value Chain through a Digital Lens: Gain First-Mover Advantage: Product introduction to gain a potentially sustainable competitive advantage. To achieve the first-mover advantage, the insurer should have two crucial capabilities: the ability to pinpoint unmet customer needs to guide product development and quickly adapt existing products to market forces. Reduce IT costs to fund innovation: When insurance companies refactor monolithic applications into modular micro services, application maintenance costs are reduced. Grow revenue by differentiating the customer journey: Electronic document capture and processing, robotic process automation (RPA), and robo-advisors improve serviceability and help businesses gain a competitive advantage. Despite market participants' claims that the insurance industry was not an early adopter of digital transformation, new players, business models, and demanding customers are forcing the industry to embrace digital technologies. As a result, the global insurance market is expected to grow by 45% between 2022 and 2025. Modern digital engineering does not occur in a vacuum; new products must be compatible with existing technologies and processes. Ascertain that the development team understands legacy insurance applications and the data required to integrate them with new, digitally engineered products.

Read More
Insurance Technology

Insurance Technology Trends That Will Shape the Industry in 2022

Article | July 14, 2022

The year 2019 has been a benchmark in insurance innovations that brought in new value propositions to the industry. What’s more remarkable is — both traditional Insurers and Insurtechs are striving to offer simple, convenient, and value-added customer-centric products coupled with technology initiatives. Here are 10 noteworthy insurance innovations that shaped the industry this year.

Read More
Insurance Technology

Why Are Insurers Excited about Embedded Insurance?

Article | May 20, 2022

The traditional insurance business has been resistant to technological change for a long time. However, the industry has made significant progress over the last decade due to the implementation of the innovative InsurTech solution, which disrupted long-held market patterns. Technological changes have made insurers work intelligently through new strategies for attracting a new generation of customers. Embedded insurance is a trillion-dollar opportunity for insurers, giving them the chance to make new streams of money and lower their costs of distribution. In totality, embedded insurance is a new frontier of product innovation in insurance based on rising customer use of digital services. It presents a $3 trillion market potential in the finance industry. Narrowing the Gap that Existed Embedding digital into insurance eradicated all the gaps that existed before. Earlier, many customers felt a burden or found it unnecessary to purchase a one-off insurance policy to protect a new possession. In contrast, at present, embedded insurance products for customers are covered with protection against losses. This has given customers the ultimate peace of mind. InsureTech has provided insurers with improved data capture tools to conduct faster and more customized underwriting with applications. To reinvent insurance business models, embedded insurance as one of the InsurTech solutions has appeared efficient in filling the gaps in the insurance business. Most insurance companies proactively recognize gaps such as irrelevant data capture, inaccurate customer information, and sluggish data retrieval processes. Thus, they are attempting to incorporate their products into an embedded structure where they can engage with digitally relevant consumers at their chosen time and place. Hence, embedded business intelligence for insurance creates a win-win situation for both the consumer and the insurer in the future. Embedded Insurance Presents Opportunities Why is embedded insurance becoming popular? Because it empowers customers the most. Embedded insurance is beneficial to insurers seeking new ways to reach wider audience in one go. According to Bazaarvoice, a software technology company, 47% of consumers worldwide and 65% of US buyers now purchase online insurance products and services more frequently compared to the years from 2017 to 2020. Today, with the help of technology, most insurance companies now embed their products virtually anywhere through open APIs. So, by integrating products into a virtual platform, insurers can deliver personalized products within a suitable period, perform real-time risk assessments, gain data, and calculate accurate pricing. The insurers who gain this edge of benefit from technology need to be prepared to learn everything they can about their customers’ insights, behavior, requirements, and inclinations. Embedded Insurance: Today and Beyond Embedded insurance is a fantastic tool for insurers to enhance insurance penetration, particularly in the remote workspace model. However, to succeed with it, firms must find the correct balance between speed and efficiency of operations, detailed study of customer interests, and compliance with data. Having mentioned that, it is emerging as a new way to distribute insurance services online efficiently, solving the protection gap to expand in the future.

Read More
MORE ARTICLES

Spotlight

ERV Group

As part of ERGO Insurance Group, which belongs to world’s largest Re-insurance Company Munich Re; and being a leading global provider of New Generation Travel Insurance-solutions, ERV has a proven record of enhancing our partner’s brands. We have developed our products and services over 100 years and providing our products in over 40 different countries worldwide.

Related News

Core Insurance, Insurance Technology

Citizens Inc. Reveals Plans to Increase Its White-label Offering

Citizens Inc. | February 27, 2023

Citizens, Inc., a diversified financial services company that offers life, final expense, and limited liability property insurance, recently announced that it entered into a new distribution agreement with Amerus Financial Group to expand its white-label program. As part of the agreement, Amerus will distribute Citizens' life and ultimate expense insurance policies under the Amerus Silver Shield brand. Meanwhile, CICA Life Insurance Company of America, also owned by Citizens, will be responsible for marketing and selling these policies. The company's goal is to be the market leader in custom-made white-label products and also, Amerus' first-choice partner. Citizens' product experience, service, and capacity to quickly develop new products in several languages make it an excellent white-label partner. Citizens' white-label product, Amerus Silver Shield, will service the life and ultimate expense market with Amerus' experience and dedication to seniors. "Our partnership with Amerus represents a tremendous opportunity to leverage our unique strengths and shared drive to deliver on the life insurance promise," said Gerald W. Shields, Vice Chairman and CEO of Citizens Inc. He continued, "Both companies are passionate about preparing people for the uncertainty of tomorrow with solutions for today. It is very exciting to work with the top IMOs and agencies to meet the needs of this underserved population. We look forward to working with Tim and his team to develop tailor-made product solutions that address the unique needs of clients." (Source – Cision PR Newswire) Tim Baggott, Amerus CEO, expressed, "Citizens, Inc. is the perfect partner with whom to white label our own suite of life and final expense products which fill an ever-widening gap in the market. Beginning with our Silver Shield final expense product offering, Amerus will now be able to offer outstanding coverage for seniors who would otherwise not be able to afford to leave a financial endowment for their loved ones. We are looking forward to expanding our offerings even more going forward as our partnership with Citizens develops." (Source – Cision PR Newswire) About Citizens Inc. Through its insurance company subsidiaries, Citizens, Inc. provides life, ultimate expense, limited liability property insurance, and other financial products to people as well as small businesses in the United States, Latin America, and Asia. The company’s unique goods are available in Spanish, Portuguese, and Mandarin as part of the company's customer-centric expansion strategy. Its Life Insurance division is a prominent name in Latin America for whole life cash value insurance policies denominated in U.S. dollars, while the company's Home Services division is a pioneer in the Gulf Coast region of the United States.

Read More

Risk Management,Insurance Technology

Insurtech Company Vouch Introduces Policy for Web3 Companies

Vouch | December 27, 2022

Vouch, known as the 'Insurance of Tech,' recently launched the first insurance solution for Web3 companies. Under this, it will cover Web3 companies with insurance policies, including smart contract vulnerabilities, DAOs, crypto, and more. "The global insurtech market size is expected to expand at a compound annual growth rate (CAGR) of 51.7% from 2022 to 2030." - Grand View Research In the past year and a half, about 3,000 startups have raised almost $40 billion. Many of these are run by founders who are building strong companies that solve real problems for real users. Till now, Web3 companies had to settle for insurance that didn't meet their needs or make do with what they already had, which eventually slowed their growth. Vouch has become the most trusted partner by getting $160 million from the best companies in Silicon Valley. Its newest market includes Web3 companies, while Ansible Labs, Bitwave, Stardust, and Utopia Labs are some of its launch clients. Traditional policies tend to leave crypto out, but Vouch's Web3 Protection Policy covers that. In addition, the policy includes four coverages that can be expanded to cover key Web3 risks based on the needs of the client: Directors & Officers (D&O) insurance helps protect the company and the personal assets of its founders, officers, and board members from claims of wrongdoing, such as misrepresentation or breach of fiduciary duty, as well as the costs of responding to or defending against the claims. Errors and Omissions (E&O) insurance protects the company when a customer claims that the company's services caused them to lose money. Cyber: It helps pay for data breaches caused by mistakes, hacking, and social engineering. It also protects against privacy violations, security failures, and system failures. Crime: Helps protect the company from employee theft, forgery, and fraud, as well as some digital assets. Vouch has built a strong partner network to meet the needs of its Web3 customers in addition to its coverage. In the partner network, Fireblocks is responsible for direct custody technology, Silicon Valley Bank for banking, Upside for token management, and Tactic for accounting. AboutVouch Vouch Insurance is a new type of insurance platform for startups that is trusted by the startup industry's biggest names, including Y Combinator and Silicon Valley Bank. Everything has been designed for startups by experienced founders, from onboarding to claims. The company, which has offices in San Francisco and Chicago and whose fully digital coverage can be activated in minutes, assists clients in managing, mitigating, and avoiding risks.

Read More

Core Insurance

Styra Named an ‘Outperformer,’ in New GigaOm Report, Highlighting Its Role in Redefining the Policy-As-Code Category

Styra | July 08, 2022

Styra, Inc., the creators and maintainers of Open Policy Agent (OPA) and leader of cloud-native authorization, has announced that it was named an “Outperformer” by GigaOm in its “2022 GigaOm Radar Report: Policy-As-Code Solutions.” The comprehensive industry report recognizes the company’s impactful role in defining the policy-as-code category and awarded Styra DAS high marks for its SaaS and self-hosted deployment models, authorization policies and policy generator, support for OPA as well as its scalability and usability. According to the report: “New vendors focused purely on policy management and decision making, such as Styra, are emerging to help redefine the category.” With OPA, “It feels as if this approach toward a generic policy language instead of a domain-specific language is continuing to grow in this space.” “Styra focuses on policy management, lifecycle, and decision making and it supports Rego. Extensions from the community at large can enable Styra DAS to be an effective one-stop policy as code solution. Between OPA and Styra DAS users can effectively scale to ensure that decisions can be continuously made in the event of a central control plane outage.” “We are honored to be named an ‘outperformer’ by GigaOm for our product capabilities in its recent Policy-As-Code Radar,” said Tim Hinrichs, co-founder and CTO at Styra. “This report shows the widespread market need as well as the accelerated growth of the category over the past few years. We’ve implemented a policy-as-code approach from day one with OPA, and this new recognition, combined with our recent ‘Outstanding in Microservices’ accolade from KuppingerCole Analysts' 2022 Policy Based Access Management Market Compass, proves that Styra and OPA are at the forefront of policy-as-code and authorization.” “We are honored to be named an ‘outperformer’ by GigaOm for our product capabilities in its recent Policy-As-Code Radar,” said Tim Hinrichs, co-founder and CTO at Styra. To determine the results for this report, GigaOm analysts reviewed and scored the top policy-as-code solution providers using the GigaOm Radar. This tool provides an overview of a particular market segment and characterizes each vendor on two axes — Maturity versus Innovation as well as Feature Play versus Platform Play. The analysis of available technologies focuses on features and capabilities, impact on the customer organization, and ratings. The results reflect how well a vendor meets key solution criteria and aligns with growing technology trends over the next 12-18 months. Styra is projected to move from the “Challenger” tier to the “Leader” tier over this timeframe. This projection is based on increased maturity as well as anticipation of a broader platform focus and commitment to a comprehensive feature set. “As reflected in the Radar Report on Policy-As-Code Solutions, Styra has a strong market standing and continues to bring innovation to its industry category,” said Shea Stewart, analyst at GigaOm. “As Styra continues to evolve, extensions from the community at large can enable Styra to be an effective one-stop policy as code solution for enterprises of all sizes that will scale as they continue to grow.” To read the full 2022 GigaOm Radar Report on Policy-As-Code Solutions, visit here, or to learn more about cloud-native authorization with Styra, please visit here. About Styra Styra enables enterprises to define, enforce and monitor policy across their cloud-native environments. With a combination of open source (Open Policy Agent) and commercial products (Declarative Authorization Service), Styra provides security, operations and compliance guardrails to protect applications, as well as the infrastructure they run on. Styra policy-as-code approach lets developers, DevOps, and security teams mitigate risks, reduce human error and accelerate application development. Learn more at https://styra.com.

Read More

Core Insurance, Insurance Technology

Citizens Inc. Reveals Plans to Increase Its White-label Offering

Citizens Inc. | February 27, 2023

Citizens, Inc., a diversified financial services company that offers life, final expense, and limited liability property insurance, recently announced that it entered into a new distribution agreement with Amerus Financial Group to expand its white-label program. As part of the agreement, Amerus will distribute Citizens' life and ultimate expense insurance policies under the Amerus Silver Shield brand. Meanwhile, CICA Life Insurance Company of America, also owned by Citizens, will be responsible for marketing and selling these policies. The company's goal is to be the market leader in custom-made white-label products and also, Amerus' first-choice partner. Citizens' product experience, service, and capacity to quickly develop new products in several languages make it an excellent white-label partner. Citizens' white-label product, Amerus Silver Shield, will service the life and ultimate expense market with Amerus' experience and dedication to seniors. "Our partnership with Amerus represents a tremendous opportunity to leverage our unique strengths and shared drive to deliver on the life insurance promise," said Gerald W. Shields, Vice Chairman and CEO of Citizens Inc. He continued, "Both companies are passionate about preparing people for the uncertainty of tomorrow with solutions for today. It is very exciting to work with the top IMOs and agencies to meet the needs of this underserved population. We look forward to working with Tim and his team to develop tailor-made product solutions that address the unique needs of clients." (Source – Cision PR Newswire) Tim Baggott, Amerus CEO, expressed, "Citizens, Inc. is the perfect partner with whom to white label our own suite of life and final expense products which fill an ever-widening gap in the market. Beginning with our Silver Shield final expense product offering, Amerus will now be able to offer outstanding coverage for seniors who would otherwise not be able to afford to leave a financial endowment for their loved ones. We are looking forward to expanding our offerings even more going forward as our partnership with Citizens develops." (Source – Cision PR Newswire) About Citizens Inc. Through its insurance company subsidiaries, Citizens, Inc. provides life, ultimate expense, limited liability property insurance, and other financial products to people as well as small businesses in the United States, Latin America, and Asia. The company’s unique goods are available in Spanish, Portuguese, and Mandarin as part of the company's customer-centric expansion strategy. Its Life Insurance division is a prominent name in Latin America for whole life cash value insurance policies denominated in U.S. dollars, while the company's Home Services division is a pioneer in the Gulf Coast region of the United States.

Read More

Risk Management,Insurance Technology

Insurtech Company Vouch Introduces Policy for Web3 Companies

Vouch | December 27, 2022

Vouch, known as the 'Insurance of Tech,' recently launched the first insurance solution for Web3 companies. Under this, it will cover Web3 companies with insurance policies, including smart contract vulnerabilities, DAOs, crypto, and more. "The global insurtech market size is expected to expand at a compound annual growth rate (CAGR) of 51.7% from 2022 to 2030." - Grand View Research In the past year and a half, about 3,000 startups have raised almost $40 billion. Many of these are run by founders who are building strong companies that solve real problems for real users. Till now, Web3 companies had to settle for insurance that didn't meet their needs or make do with what they already had, which eventually slowed their growth. Vouch has become the most trusted partner by getting $160 million from the best companies in Silicon Valley. Its newest market includes Web3 companies, while Ansible Labs, Bitwave, Stardust, and Utopia Labs are some of its launch clients. Traditional policies tend to leave crypto out, but Vouch's Web3 Protection Policy covers that. In addition, the policy includes four coverages that can be expanded to cover key Web3 risks based on the needs of the client: Directors & Officers (D&O) insurance helps protect the company and the personal assets of its founders, officers, and board members from claims of wrongdoing, such as misrepresentation or breach of fiduciary duty, as well as the costs of responding to or defending against the claims. Errors and Omissions (E&O) insurance protects the company when a customer claims that the company's services caused them to lose money. Cyber: It helps pay for data breaches caused by mistakes, hacking, and social engineering. It also protects against privacy violations, security failures, and system failures. Crime: Helps protect the company from employee theft, forgery, and fraud, as well as some digital assets. Vouch has built a strong partner network to meet the needs of its Web3 customers in addition to its coverage. In the partner network, Fireblocks is responsible for direct custody technology, Silicon Valley Bank for banking, Upside for token management, and Tactic for accounting. AboutVouch Vouch Insurance is a new type of insurance platform for startups that is trusted by the startup industry's biggest names, including Y Combinator and Silicon Valley Bank. Everything has been designed for startups by experienced founders, from onboarding to claims. The company, which has offices in San Francisco and Chicago and whose fully digital coverage can be activated in minutes, assists clients in managing, mitigating, and avoiding risks.

Read More

Core Insurance

Styra Named an ‘Outperformer,’ in New GigaOm Report, Highlighting Its Role in Redefining the Policy-As-Code Category

Styra | July 08, 2022

Styra, Inc., the creators and maintainers of Open Policy Agent (OPA) and leader of cloud-native authorization, has announced that it was named an “Outperformer” by GigaOm in its “2022 GigaOm Radar Report: Policy-As-Code Solutions.” The comprehensive industry report recognizes the company’s impactful role in defining the policy-as-code category and awarded Styra DAS high marks for its SaaS and self-hosted deployment models, authorization policies and policy generator, support for OPA as well as its scalability and usability. According to the report: “New vendors focused purely on policy management and decision making, such as Styra, are emerging to help redefine the category.” With OPA, “It feels as if this approach toward a generic policy language instead of a domain-specific language is continuing to grow in this space.” “Styra focuses on policy management, lifecycle, and decision making and it supports Rego. Extensions from the community at large can enable Styra DAS to be an effective one-stop policy as code solution. Between OPA and Styra DAS users can effectively scale to ensure that decisions can be continuously made in the event of a central control plane outage.” “We are honored to be named an ‘outperformer’ by GigaOm for our product capabilities in its recent Policy-As-Code Radar,” said Tim Hinrichs, co-founder and CTO at Styra. “This report shows the widespread market need as well as the accelerated growth of the category over the past few years. We’ve implemented a policy-as-code approach from day one with OPA, and this new recognition, combined with our recent ‘Outstanding in Microservices’ accolade from KuppingerCole Analysts' 2022 Policy Based Access Management Market Compass, proves that Styra and OPA are at the forefront of policy-as-code and authorization.” “We are honored to be named an ‘outperformer’ by GigaOm for our product capabilities in its recent Policy-As-Code Radar,” said Tim Hinrichs, co-founder and CTO at Styra. To determine the results for this report, GigaOm analysts reviewed and scored the top policy-as-code solution providers using the GigaOm Radar. This tool provides an overview of a particular market segment and characterizes each vendor on two axes — Maturity versus Innovation as well as Feature Play versus Platform Play. The analysis of available technologies focuses on features and capabilities, impact on the customer organization, and ratings. The results reflect how well a vendor meets key solution criteria and aligns with growing technology trends over the next 12-18 months. Styra is projected to move from the “Challenger” tier to the “Leader” tier over this timeframe. This projection is based on increased maturity as well as anticipation of a broader platform focus and commitment to a comprehensive feature set. “As reflected in the Radar Report on Policy-As-Code Solutions, Styra has a strong market standing and continues to bring innovation to its industry category,” said Shea Stewart, analyst at GigaOm. “As Styra continues to evolve, extensions from the community at large can enable Styra to be an effective one-stop policy as code solution for enterprises of all sizes that will scale as they continue to grow.” To read the full 2022 GigaOm Radar Report on Policy-As-Code Solutions, visit here, or to learn more about cloud-native authorization with Styra, please visit here. About Styra Styra enables enterprises to define, enforce and monitor policy across their cloud-native environments. With a combination of open source (Open Policy Agent) and commercial products (Declarative Authorization Service), Styra provides security, operations and compliance guardrails to protect applications, as well as the infrastructure they run on. Styra policy-as-code approach lets developers, DevOps, and security teams mitigate risks, reduce human error and accelerate application development. Learn more at https://styra.com.

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