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CORE INSURANCE

PayCloud.io | May 27, 2021

PayCloud.io is pleased to introduce a digital payment platform specialized for insurers and MGAs to fulfill the continuously expanding need for digital payment solutions. While the name payCloud.io is new, the core systems and team have been in the insurance industry for over two decades. PayCloud.io spun out of insurance software pioneer Silvervine Software, uses the same forward-thinking digital payment technology as Silvervine Software, but with a dedicated payment focus. PayCl...

Chubb | February 14, 2020

Chubb has announced that its Incident Alert tool is now available for excess casualty clients. The tool has previously been used by Chubb environmental and cyber clients. It assists clients during a catastrophic event by helping to identify qualified response contractors, manage clean-up efforts and mitigate potential liabilities, Chubb said. “Catastrophic losses can happen unexpectedly and at any moment,” said Joe Fobert, executive vice president of Chubb Excess Casualty. “Whe...

INSURANCE TECHNOLOGY

PZU, Tractable | November 27, 2020

PZU, the biggest financial institution in Central and Eastern Europe, is using AI to upgrade how it audits its car insurance claims across Poland, it declares today. PZU handles almost 500,000 motor damage claims for every year. Prior to implementing AI, Poland's biggest insurer was performing a detailed audit of around 20% of its motor claims that are handled by body shops (the remaining body shop cases were affirmed with improved control). Presently, the AI so...

Lloyd | July 13, 2020

Centuries-old exchange Lloyd’s of London will be focussing on its core markets, announcing a strategy that will see the world’s specialist insurance marketplace relinquish US admitted licenses. In a market bulletin issued by syndicate capability oversight head Peter Montanaro, Lloyd’s said it will be strengthening its focus on the US reinsurance and excess & surplus (E&S) insurance market “where it is the market leader,” in a move that will be carried out by...