Majesco | July 28, 2021
Majesco, a global leader in cloud insurance platform software for insurance business transformation, today announced that A-PLUS (loss history), Coverage VerifierSM (policy history), Roof Age, Major Systems, and Condition Score property insights had been added to Majesco's Digital1st EcoExchange by Verisk, a leading global data analytics provider.
Majesco Digital1st EcoExchange is a next-generation partner ecosystem that uses third-party services to provide a truly plug-and-play environment. It offers carriers with pre-integrated capabilities with Majesco solutions to assist insurers in digitizing, optimizing, and innovating their business, customer, and channel requirements now and in the future. In addition, Verisk, a long-standing partner, extended its current applications on Majesco's marketplace with the following:
A-PLUS is a comprehensive loss history database fueled by insurer contributions that allow for more accurate personal car underwriting and rating at the time of quotation. A-PLUS reporting tools allow quick choices based on data from various loss and coverage types. The Fair Credit Reporting Act (FCRA) regulates full-detail reports, which offer up to seven years of claims activity on risks.
The FCRA-regulated Coverage Verifier offers up to seven years of personal auto insurance history to assist in identifying current, lapsed, or suspended coverages, guiding critical underwriting and rating decisions, and reducing fraud.
Roof Age uses Verisk's extensive industry expertise and advanced data science to estimate the age of a structure's roof by combining permit insights, assessor records, and various other data elements. As a result, roof Age enables insurers to rapidly evaluate the age of a structure's roof to provide roof year and actionable, numeric confidence ratings for use in underwriting and rating applications.
Major Systems offers information on the health of a structure's major systems, including the building, mechanical, electrical, and plumbing systems. These insights are important for insurers to find a balance between real risk exposure and exceptional customer service.
By better knowing a property's history, Condition Score allows insurers to improve their underwriting approach. A property's score considers significant property change events such as maintenance, remodeling, and renovation activity, as well as related cost drivers. Thus, allowing insurers to segment and underwrite risks using a variable covering a property's whole history.
With the inclusion of these Verisk accelerators, Majesco clients may better price risk for improved profitability, make recommendations on loss control/prevention during underwriting, and simplify the application and underwriting process.
Majesco is the leading software partner for the P&C and L&A insurance industries, enabling clients to modernize, optimize, and innovate at scale. Majesco's next-generation SaaS platform solutions of core, data and analytics, digital, distribution, absence management, and a rich ecosystem marketplace of established and InsurTech partners are used by over 330 insurers, ranging from greenfields, start-ups, and MGAs to the largest insurers, reinsurers, and brokers, to build the future of insurance.
Our technology, experience, and leadership assist insurers in innovating and connecting to build their business's future. We have an amazing track record of innovation and real-world results, with over 825 successful implementations and over 65 % of our clients on Cloud with Majesco platform solutions.
High Street Insurance Partners | January 14, 2022
High Street Insurance Partners ("HSIP") announced its December acquisition of Southeastern Agency Group (SAG), a full-service insurance firm based in Greensboro, North Carolina.
"Our rapid expansion bringing together like-minded agencies allows us to leverage our relationships to better serve our clients," said Scott Wick, CEO of HSIP. "With this acquisition, we're uniquely positioned to meet the full range of insurance solutions for current and future clients."
Greg Myers, President of SAG, stated, "HSIP has a proven track record of success and industry leadership. We're excited for all this means for our firm and our clients."
This acquisition is one of 17 finalized in December, making HSIP one of the most active brokerage firms in 2021, in terms of acquisitions. HSIP has acquired 97 agencies in just three years. The firm has a geographical footprint that includes 23 states.
About High Street Insurance Partners
High Street Insurance Partners (HSIP) is a full-service, independent insurance brokerage firm. Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies. HSIP employs over 1,700 insurance specialists & consultants in offices based in Arkansas, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, & Washington.
Pie Insurance | November 10, 2020
Pie Insurance, an insurtech having expertise in laborers' comp insurance for private ventures, today dispatched its API for accomplices.
Utilizing Pie's API, accomplices who serve private companies can undoubtedly get a statement without leaving their foundation or site, further smoothing out the way toward helping their customers set aside to 30% on laborers' comp insurance. Accomplices can without much of a stretch alter their incorporation, interfacing with an assortment of endpoints including getting to Pie's craving checker, getting a value sign, or recovering a bindable statement to impart to customers.
"Being able to access Pie's application without leaving their own systems means partners are able to provide their small business clients with simple and affordable coverage more efficiently than ever before," said Dax Craig, co-founder and president of Pie Insurance. "We believe opening up our API is an essential step to ensure Pie delivers an automated and easy-to-use workers' comp insurance experience."
The present news follows a few advancements dispatched for accomplices in the previous a half year, including Pie's accomplice entryway, which makes it simpler for accomplice operators to present their customers for inclusion and track their status progressively. In September, Pie uncovered computerized tie demands, permitting accomplice specialists to submit solicitations to tie on qualified entries inside the accomplice entryway. The organization additionally declared it developed its accomplice channel to in excess of 1,000 retail and discount offices, speaking to an almost 200% expansion since the start of 2020.
Pie's straightforward documentation and basic joining measure empower accomplices to rapidly interface their foundation or site to the API.
About Pie Insurance
Pie Insurance is modernizing small business insurance by automating the entire coverage experience. Pie's use of advanced analytics enables savings of up to 30% for small business owners on AM Best A- (Excellent) rated workers' comp insurance directly through its website or through partner agents. Since its founding in 2017, Pie has received $188M in funding, grown its gross written premium to over $100M, and partnered with over 1,000 agencies nationwide. Headquartered in Denver, CO and Washington, DC, Pie has been recognized by Intelligent Insurer as an Insurtech Hot 100 and as a top workplace by The Denver Post, The Denver Business Journal, and Built in Colorado.