CLAIMS, COMPLIANCE
PRweb | May 11, 2023
Guidewire (NYSE: GWRE) and Transcard announced that Transcard’s new Ready for Guidewire validated accelerator is now available to ClaimCenter users in the Guidewire Marketplace.
Customer expectations surrounding claims, specifically claims payments, continue to rise. Now, according to Aite-Novarica, customers expect to receive funds not only in a manner that is convenient to them, but also as quickly as possible. In fact, many customers want the option of “real-time payments” to “receive funds instantly” from their insurer. These high, modern expectations need to be met with modern solutions.
Transcard’s SMART Suite is a secure, all-in-one payments platform that helps insurers meet their customers’ modern payment needs. It allows policyholders to choose their preferred payment method from a wide variety of modern payment types, from ACH and card to PayPal and Zelle.
With the Transcard Accelerator for Claims Payments, insurers can:
Easily access the SMART Hub dashboard within ClaimCenter;
Quickly make or schedule payments to customers or suppliers; and
Automatically reconcile payments in Guidewire in real-time without manual labor.
Transcard’s technology works with any existing bank account, so insurers aren’t required to set up or pre-fund new bank accounts to disburse funds electronically. Additionally, it offers pre-configured workflows for claim payouts, lienholder payments, and other business applications. SMART Hub is Transcard’s all-in-one portal for managing payments. SMART Hub’s dashboard provides access to payment insights in real-time and insurers can track all incoming and outgoing activity via the SMART Hub dashboard.
“Our embedded payment solutions extend the value of Guidewire by making it easier for insurers to make, receive, and manage payments of any type from a single platform, without having to set up or pre-fund a new bank account,” said Greg Bloh, CEO, Transcard. “Connecting our technologies helps our shared customers drive operational efficiency and improve customer satisfaction.”
“We applaud Transcard on the release of its new ClaimCenter app,” said Will Murphy, Vice President, Global Solution Alliances, Guidewire. “Transcard’s SMART solutions enable better payment control and visibility for insurers, while fulfilling policyholders’ modern payment needs and enhancing their experience.”
About Transcard
We make frictionless payments a reality with comprehensive global payment solutions designed for banks, fintechs, and businesses of any size and in any industry. We deliver solutions for B2B payments, C2B payments, B2B2C payments, A2A automation, BaaS.
Our solutions combine unmatched multi-rail capabilities, embedded workflows, best-in-class integration, effortless reconciliation, and bank-grade security. These are some of the reasons that 550 businesses and more than 200 banks trust us with their payments.
About Guidewire PartnerConnect ecosystem and Ready for Guidewire
Guidewire’s solution ecosystem is the largest in the P&C industry, with over 180+ solution partners providing over 195+ integrations in the Guidewire Marketplace. Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found on the Guidewire Marketplace.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 500 insurers in 38 countries, 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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CLAIMS, INSURANCE TECHNOLOGY
PRnewswire | April 27, 2023
Clearcover Insurance Company, the next-generation car insurance company, today announces it has launched an innovative embedded insurance solution in which consumers receive final, bindable quotes when they shop via Experian's® auto insurance comparison shopping service. This initiative supports Clearcover's strategy to fuel growth in its distribution channels and complements Experian's consumer-centric approach to its products.
"We're redesigning the insurance playbook by streamlining processes and building new experiences and capabilities," said Clearcover CEO Kyle Nakatsuji. "We are grateful to Experian for putting their trust in us to develop solutions that improve their users' experiences."
Clearcover is investing in technology to meet market demand and support its mission to become the digital auto insurer of choice for modern drivers. Its partner-centric API allows users to comparison shop for auto insurance to find better rates without leaving the Experian site for final quotes. Launched last year, Experian's auto insurance offering furthers its mission to financially empower consumers by helping them potentially save hundreds of dollars on their current policy.
"Working with a tech-enabled carrier is a win-win," said Rakesh Patel, General Manager of Experian Insurance Services™ at Experian. "Clearcover is uniquely positioned to tailor the underlying embedded experience so that our customers can quickly and easily shop for auto insurance policies all in one place. When we can empower consumers to make positive changes effortlessly, Experian is achieving its goal of financial power for all."
"This integration is part of our customer-centric mission to provide hassle-free insurance," said Clearcover Chief Product and Innovation Officer Adam Fischer. "Our goal to empower consumers to make the smartest decisions at every step aligns with Experian's mission to help its customers improve their financial well-being."
On the heels of securing $153 million in Series E financing last November, Clearcover ramped up efforts to invest in and integrate new technologies and business strategies.
"Experian and Clearcover have a long-standing relationship," said Clearcover Head of Partner Distribution Chris Ritter. "This collaboration is a natural progression and we're looking forward to ensuring they have some of the smartest solutions on the market."
Clearcover, which currently offers auto policies in 19 states, is advancing an industry that continues to adapt and change. The company ranked No. 50 on the 2022 Deloitte Technology Fast 500 list and was named by InsurTech Magazine as a "Top 10 Insurtech Platform to Watch in 2022."
About Clearcover
Clearcover is the next-generation insurance company that provides customers with the technology they need to confidently make the smartest decisions at every step. Clearcover is challenging the status quo with hassle-free insurance that redefines what it means to put the customer first, delivering affordable car insurance with one of the industry's fastest claims experiences. Clearcover includes Clearcover, Inc., which was founded in 2016 by Kyle Nakatsuji and Derek Brigham, Clearcover Insurance Company (NAIC #16524) and Clearcover Insurance Agency. Clearcover has raised more than $480 million in funding to date. In 2022, the insurance fintech ranked No.50 on the Deloitte Technology Fast 500™ and No. 151 on the Inc. 5000 Fastest Growing Privately Held Companies in America. Clearcover has also been featured by Glassdoor as one of the nation's "Best Places to Work." For more information, visit Clearcover.com.
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RISK MANAGEMENT, INSURANCE TECHNOLOGY
Globenewswire | April 19, 2023
Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced its acquisition of HollandStivers Employer Solutions, a specialist in employee benefits located in Paducah, Kentucky. Terms of the deal were not disclosed.
Tracing its roots back to 1994, HollandStivers Employer Solutions marks the first acquisition by Risk Strategies in Kentucky. The firm brings several complimentary capabilities to the Risk Strategies National Employee Benefits Practice, including expertise in group medical, individual medical, group life and dental. HollandStivers also offers clients payroll administration and other HR services.
“We acquire firms that match in terms of culture and approach to our specialist focus,” said John Greenbaum, Risk Strategies National Employee Benefits Practice Leader. “The team at HollandStivers are great people and expand our geographic presence while adding expertise in integrated human capital management and payroll administration to our rapidly growing repertoire of client services.”
With almost 30 years of experience in the benefits insurance industry, HollandStivers has established deep, trusted relationships with its clients. The firm’s strong client-focused approach builds great loyalty among its customers, with many having been with the firm for over 20 years.
“In seeking a firm to help expand our capabilities and reach, we saw Risk Strategies specialist, client-first approach as being a great fit for our people and our clients,” said Jody Stivers, Founder & President, HollandStivers. “We’re excited to become part of a true national-scale specialty brokerage and practice.”
Along with customized employee benefits solutions, HollandStivers offers clients an array of value-added services including data analytics, carrier rate negotiation, compliance assistance, and employee communication and education. The payroll administration services directly provided by the firm include product selection and implementation of a payroll HCM (Human Capital Management) system as well as ongoing technical support for their payroll HCM.
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. RiskStrategies.com.
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