Aspen Insurance launches cyber risk management platform

insurancebusinessmag | June 14, 2019

Aspen Insurance has announced the launch of its new cyber risk management platform.Aspens Secure Systems and Information Management Principles with the benefits of Loss Experience (SSIMPLE) platform was developed to help Aspen customers prevent, detect, and respond to privacy and network security incidents. The platform includes existing components of Aspen Insurances Apex insurance policy and incident response capabilities, with added and differentiating pre-incident services.

Spotlight

Foxtails. Type of grass common in yards and on paths and hillsides.  Embeds in eyes, ears, noses, paws and skin, often requiring surgical removal. TIP. Check your pet thoroughly after being outdoors. Burns. Pets can get sunburns and skin cancer. Hot sidewalks are painful and can burn paw pads. TIP. Ask your vet about TIP pet-safe sunscreens.

Spotlight

Foxtails. Type of grass common in yards and on paths and hillsides.  Embeds in eyes, ears, noses, paws and skin, often requiring surgical removal. TIP. Check your pet thoroughly after being outdoors. Burns. Pets can get sunburns and skin cancer. Hot sidewalks are painful and can burn paw pads. TIP. Ask your vet about TIP pet-safe sunscreens.

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Bindable Unveils its New Digital Solution - The Agent Wholesale Platform for Insurance Industry

Bindable | November 19, 2020

Bindable, the insurance technology pioneer for elective dissemination, today declared the dispatch of its Agent Wholesale Platform, an advanced software solution that empowers autonomous agents to dispatch their own virtual offices and to flawlessly access and sell insurance items on the web, via telephone, or face to face. The Agent Wholesale Platform is a white name insurance marketplace that permits agents and transporters to offer auxiliary items, for example, pet, lawful, and home guarantee through a virtual organization without disturbing their present auto and home stream. Locales can be custom marked and incorporate a changed rendition of Policy Crusher®, Bindable's restrictive SaaS platform and CRM. Utilization of the Agent Wholesale Platform will bring about higher commissions and improved strategically pitching capacities for agents, just as better help for their clients. Strategically pitching auxiliary items is significant for agents since it assists with forestalling center auto and home clients from buying these items somewhere else and possibly exchanging over their auto and home insurance also. “Our focus has always been to continuously drive innovation in the insurtech industry. We’re proud to have created digital tools so that agents and their carrier partners can achieve more growth and better customer retention through product diversification,” says Bill Suneson, CEO and co-founder of Bindable. “With a virtual agency, they can do just that, and initiate more efficient transactions with consumers online or over the phone.” Coronavirus has quickened digitization, expecting agents to turn out to be more tech forward in their strategic approaches. As the quantity of purchasers finishing exchanges online versus in-person keeps on climbing, the desire for advanced admittance to insurance contributions has just expanded. Examination from Bindable shows that 93% of free agents were in understanding that with regards to buying insurance items, client desires are evolving. Furthermore, 76% announced that client desires around cycles, for example, cases and installments being robotized has expanded, flagging a more prominent longing for computerized exchanges. Bindable's Agent Wholesale Platform is right now accessible in every one of the 50 states. About Bindable Bindable is the insurance technology leader for alternative distribution. Its proprietary platform brings together software, a digital wholesale marketplace, and a full suite of support services to offer flexible, market-ready solutions that connect insurance providers, trusted brands, and consumers. The company is headquartered in Boston, Massachusetts.

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CORE INSURANCE

CCC Announces Plan To Provide an Enterprise Payments Platform To The P&C Insurance And Automotive Ecosystem

CCC Information Services | May 05, 2021

CCC Information Services Inc. (CCC), a leading SaaS supplier to the P&C insurance industry, announces the introduction of an enterprise payments network to power electronic payments through the insurance and automobile ecosystems. The company intends to extend its CCC® Payments capabilities to allow digital payments between insurers and their business partners, thus lowering administrative costs and cycle time while improving customer satisfaction. CCC's network of over 30,000 businesses will benefit from their CCC connections because payments functionality is built to integrate with their CCC solutions, presenting payment details inside existing workflows. CCC Payments transactions initiated by insurers will be handled by Nvoicepay, a third-party financial services provider and a pioneer in payment automation software, which is expected to begin in the second half of 2021. CCC first launched electronic payment capabilities in 2019, offering collision repair customers an easy way to manage customer-to-shop payments. "CCC is systematically bringing digitization to every area of the automobile and insurance industries," said Barrett Callaghan, senior vice president of markets and customer success at CCC. "By expanding CCC Payments, we want to remove two significant market pressure points: paper checks and phone calls." Our plans to incorporate CCC Payments into our workflow solutions would be important, particularly for our collision repair and lender customers, who will be able to use their single access to CCC to handle digital receipt of insurer payments. CCC is eager to expand its digital capability to cover payments, as it continues to meet the industry's vision for straight-through processing." CCC Payments is designed to enable insurers to accept any form of B2B digital payment through P&C lines. Recipients using the payment solution would only need to insert their payment details once with the processor for it to be seamlessly and securely deployed through the CCC network, making it simple to enable payments at scale. CCC Payments is intended to enable straight-through processing as well as configurable workflows, enabling insurers to select the level of automation for payment approvals. Furthermore, all insurers and payees will access premium notifications and status updates directly from their existing CCC environment. "CCC is proud to help more than $100 billion in commerce per year through its technology and connections," said Shivani Govil, CCC's chief product officer. "CCC intends to expand our core capabilities and advance the digitization of the P&C insurance economy through our expected expansion in digital payments. We anticipate that CCC Payments will open up a whole universe of possibilities for our customers to enhance their performance and the customer experiences they deliver." About CCC CCC is a leading SaaS platform for the multi-trillion-dollar P&C insurance market, powering operations for insurers, repairers, automakers, part suppliers, lenders, and others. More than 30,000 companies use CCC cloud technology to digitize mission-critical workflows, commerce, and customer experiences. CCC, a recognized expert in AI, IoT, customer experience, network, and process management, delivers innovations that keep people's lives going when it matters most.

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INSURANCE TECHNOLOGY

Ascend & Stere Announce Anchor Partnership To Mutually Modernize Insurance Infrastructure

Ascend | March 31, 2022

Today, modern insurtech infrastructure companies, Ascend and Stere, announced an anchor partnership. The two companies will be teaming up to provide existing brokers, MGAs, and carriers with the best-in-class digital experiences. Ascend is the first modern insurance payments platform that provides automated all-in-one financing, collections, and payables. Stere is a one-stop-shop for businesses to find capacity and access digital tools to launch, improve and grow insurance programs. Both companies work to digitize key aspects of the insurance value chain and will be combining forces in a first-of-its-kind anchor partnership to further fuel their customers' growth. We're incredibly excited to be collaborating with Stere as we enter the next phase of providing the best possible product/service for our customers, They've built an incredible ecosystem that connects "capacity seekers" such as MGAs, insurtechs, or embedded insurance partners, with "capacity providers" like carriers and reinsurers. Stere's capacity marketplace will support our customers' capacity needs and becoming a part of that ecosystem, benefits both ours and their customers." Ascend Co-Founder & Co-CEO Andrew Wynn. Stere allows interested parties to easily launch new insurance programs and products, and Ascend makes it easy to handle all aspects of payments for those new programs. Working with Ascend further expands and strengthens the roster of network vendor partners our clients have easy access to via our digital ecosystem, Our mission is to be a go-to capacity marketplace for MGAs, reinsurers, and carriers as well as offer them a secure platform where they can launch and grow insurance programs with ease. By restructuring and modernizing insurance payments infrastructure, something that is long overdue, Ascend addresses a long-standing industry pain point and empowers our clients to increase their process efficiencies." Stere CEO and Founder Dogan Kaleli. This is the first of many partnerships Ascend will be investing in to deepen its relationships with other insurtechs, MGAs, AMS, and other embedded insurance carriers to complement the strategic ambitions of companies in the insurance market. About Ascend Ascend is the modern insurance payments platform that provides automated all-in-one financing, collections, and payables. Founded by two-time insurtech entrepreneurs Andrew Wynn and Praveen Chekuri, Ascend helps distributors sell more by eliminating labor-intensive, expensive processes while providing customers with the great online checkout and financing experience they've come to expect. About Stere Stere is a digital ecosystem for insurance programs. With Stere, program leaders source insurance capacity and access digital tools to launch sooner and grow smarter. Stere clients are MGAs, insurtech MGAs, and embedded insurance programs, and their ecosystem partners such as carriers, fronting carriers, reinsurers, brokers, program consultants, and technology providers.

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