Aberdeen Demonstrates ROI of Content for CX

ABERDEEN | May 08, 2019

Aberdeen, a research firm and intent-based sales and marketing solutions provider, supported by Kapost, recently released new research showing best-in-class B2B firms significantly benefit by executing on consistent, intentional content strategies supporting end-to-end customer experience (CX). Best-in-Class firms see 48% greater customer lifetime value (LTV) and nearly 300% greater year-over-year improvement in customer effort scores. "The considered purchase process today is long and involves a large group of stakeholders. Only the right information can cut through the chaos. Marketing and sales teams need to create content that speaks in a consistent voice across all channels to create a frictionless customer experience," said Kapost CEO, Toby Murdock.

Spotlight

Underscore looks at trends for Insurance in 2018, we can't wait to see how brands will adapt to use the opportunities these trends create in 2018.

Spotlight

Underscore looks at trends for Insurance in 2018, we can't wait to see how brands will adapt to use the opportunities these trends create in 2018.

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INSURANCE TECHNOLOGY

TONI Digital Selects Socotra to Power New TONI Insurance-as-a-Service Technology Platform

TONI Digital | December 23, 2020

TONI Digital, a leading European insurtech provider, has picked Socotra, the main cloud-native insurance center platform, to control the new TONI insurance-as-a-service innovation platform for the white-label insurance market. TONI Digital has built up an insurance-as-a-service arrangement enabling large corporations to rapidly enter the insurance market, generate income, and leverage existing brand and client bases. Based on Socotra's agile center platform, TONI Digital's new proprietary insurtech service will have the option to automate all aspects of the insurance life-cycle. It will offer profoundly serious insurance charges and integrate with established danger carriers. Back up plans will have the option to furnish clients with easy to understand, completely digital encounters and transparent, affordable insurance products. The service is launching with personal auto insurance and will keep on expanding into different lines of business. TONI Digital has heavily invested in its new proprietary insurtech platform, which it began creating on Socotra's cloud-native insurance center platform only 10 months ago. By utilizing Socotra's modern product architecture and open APIs, TONI Digital's new insurtech platform has the agility expected to add new insurance products and appropriation partners at a remarkable speed. Subsequently, TONI Digital was able to rapidly configuration, create, and launch a complete, cloud-based service providing corporations with exceptionally customizable insurance products. “Socotra handed us the essential underlying insurance functionality as a readily developed product on a silver platter,” said Alexander Sanders, TONI Digital CTO. “Integrating the Socotra insurance core using their well-documented APIs was easy. Additionally, we can configure everything ourselves—no phone calls or time-consuming and costly customizations needed. At the same time, Socotra fits perfectly into our vision of TONI developing highly-valuable intellectual property on our own TONI Digital insurance tech platform. As an example, we built our highly-flexible, self-hosted, proprietary pricing engine on top of Socotra’s cloud-native core. We also took a similar approach to developing integrations with 3rd party providers, and creating our customer-facing frontend and features. This hybrid-approach of Socotra’s cloud-native core and our proprietary technologies and integrations is a glimpse of the future of insurance technology.” “It’s exciting to see what a talented team can build on Socotra’s platform,” said Dan Woods, Socotra CEO. “The TONI Digital team is taking full advantage of Socotra’s extensibility to empower banks, retailers, and other businesses to provide their customers with custom digital insurance products. We’re thrilled to partner with them as they build out the personal auto insurance service and explore additional lines of business.” About TONI Digital TONI Digital offers Europe’s leading insurance-as-a-service offering and enables companies and corporations to quickly enter the insurance market without requiring any insurance know-how, insurance licence or insurance IT system. TONI’s proprietary insurance tech platform offers a fully digital and state-of-the-art customer experience in all aspects of the insurance life cycle while achieving unprecedented cost ratios due to its high degree of process automation. To learn more, visit www.tonidigital.ch. About Socotra Founded in 2014 and based in San Francisco, Socotra is a modern, enterprise-grade core system that enables global insurers to accelerate product development, reduce maintenance costs, and improve customer experiences. Insurers trust Socotra’s modern technology to rapidly develop products that better serve their customers and manage their existing books of business. Socotra’s flexible, radically open, cloud-native solution unifies underwriting, rating, policy management, claims, billing, reporting, and more. To learn more, visit www.socotra.com.

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CORE INSURANCE

Hiro and collaborative finance provider StepLadder partner to bring prevention-first insurance to members

Hiro | September 09, 2021

Hiro, the prevention-first smart insurtech, is announcing a partnership with StepLadder, the collaborative finance company. The relationship offers StepLadder members access to Hiro's innovative insurance, and paves the way for further collaboration between the two companies. This is another exciting partnership for Hiro, which also has relationships with a number of smart home vendors including Ring, Philips Hue, Netatmo and Abode. The insurtech empowers its members to adopt a prevention-first approach, offering discounts on smart tech which enables them to proactively protect their homes, and giving members a fairer price on insurance for doing so. StepLadder invites members into collaborative Circles to fund particular home-related finance projects, whether that be raising money for a deposit on a house, or funding some home improvement or renovation. Each Circle Member puts a set amount of money into a pot each month, which is then awarded as a lump sum to one Member of the Circle per month, meaning 90% of members reach their savings target faster. "As we do with insurance, StepLadder is taking on a traditional industry – lending – and burning the rulebook in a truly innovative way. We're always looking to develop relationships with like-minded companies, so it really stood out to us," says Hamza Abbas, Head of Partnerships at Hiro. "We understand that money can't replace invaluable items, or buy back the hard work people put into buying a home. This is why we're delighted to offer StepLadder members insurance that not only pays out should something bad happen, but that helps them to proactively protect their homes and prized possessions." There is also scope for the partnership between the companies to grow, with Hiro members potentially set to benefit from StepLadder's collaborative finance in the future. "We're excited to work with Hiro as it shares our ethos of truly helping people to improve their lives. Of course, there is a natural link between our businesses, and it is great that our Members can now benefit from Hiro's forward-thinking insurance," says Matthew Addison, CEO at StepLadder. "Hopefully, this is just the start. We have some ideas in the pipeline that will enable as many people as possible to reap the rewards of our shared innovation." About Hiro Hiro is swapping reactive for proactive. It helps you to defend the things you hold dear – the things that money can't replace – and empowers you with smart tech that prevents bad things from happening. It'll even reward you with lower prices, just for being a safer homeowner – and give you access to amazing discounts on tech to help you get the most out of your insurance, whether you claim or not. And if you decide Hiro isn't for you, it won't be held against you. You can cancel your monthly subscription whenever you like, straight from the Hiro app. No cancellation fees, no nonsense. This is simple, transparent home insurance that helps to protect not just your valuables, but your invaluables. About StepLadder: StepLadder is a fast growing and award-winning company pioneering collaborative finance and revolutionising the home buying process. Through their collaborative lending Circles StepLadder are supporting people to buy their first home faster, reach their financial goals, and championing financial wellbeing.

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INSURANCE TECHNOLOGY

Guidewire Introduces End-to-End Usage-Based Insurance Solution

Guidewire | May 06, 2021

Guidewire Software, Inc., the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced the availability of Guidewire's Usage-Based Insurance Solution. Planned in view of speed, the UBI Solution can be deployed inside 12 weeks and supports the start to finish insurance lifecycle including quote, billing, and automated claims consumption. Forrester Research projects usage-based insurance policies to grow 50 percent in 2021.1 “Increasing appetite for usage-based insurance (UBI) in personal auto will drive insurers to rethink how they help customers discover and use auto insurance,” wrote Jeffery Williams, senior analyst, Forrester Research in a recent blog post. “COVID-19 has ushered in a new paradigm where consumers are more conscious about price transparency. That will result in strong new business growth across the sector.”2 Accessible exclusively on Guidewire Cloud, Guidewire's UBI solution accelerates deployment with a prebuilt package of capabilities, services, and mixes with Guidewire PartnerConnect Solution partners, Cambridge Mobile Telematics and TrueMotion for telematics. "Personal lines insurers want to offer UBI as fast as possible to their customers, and with Guidewire they can in just a few months,” said Eugene Lee, senior vice president and general manager, Guidewire. “Guidewire’s UBI Solution was informed by our experience with multiple UBI-specific deployments, and unlike other offerings that focus only on product definition, the solution is designed to support the entire quote-to-claim lifecycle.” One of those UBI deployments was at CAA Insurance Company, Canada’s largest not-for-profit automobile association. “As the pandemic continues, so do the financial hardships faced by many households," said Matthew Turack, president of CAA Insurance Company. “In response, we quickly launched a new MyPace product using Guidewire to help our customers who were working from home save on auto insurance costs. Our customers appreciated our responsiveness and sales have exceeded our expectations with a 300 percent year-over-year increase in new auto policy sales and 72 percent increase in new customers.” CAA has been an in-production InsuranceSuite customer since 2012. About Guidewire Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire. As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

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