CORE INSURANCE, INSURANCE TECHNOLOGY
Accesswire | May 04, 2023
CogniSure AI, a leading provider of insurance document extraction and analytics solution provider, has entered into a partnership with market-leading no-code platform provider, Innoveo, to drive underwriting efficiencies and pricing accuracy for commercial insurers.
CogniSure's Submission Insights platform unlocks understandings trapped in unstructured documents such as loss runs, applications, schedules, and SOVs - in real time with high accuracy levels. The enhanced submission data output is integrated into Innoveo's Digital Underwriting Workbench accelerator that automates underwriting workflows to deliver a frictionless and end-to-end digital experience for underwriters.
This partnership thus combines the power of two revolutionary technologies - the no-code capabilities of Innoveo with the AI-powered automation capabilities of CogniSure. The pre-built integration between CogniSure and Innoveo will help insurers cut down the time and cost of processing submissions and boost underwriting capacity while allowing underwriters to focus on risk analysis and decision-making.
"We are excited to partner with Innoveo who is committed to the cause of improving time to value and innovation for the insurance industry. We are thoroughly impressed by their no-code capabilities, and I believe the unique combination of our solutions will maximize value for commercial insurers driving superior underwriting outcomes," said Sai Raman, Founder & CEO, CogniSure.
"Innoveo's Digital Underwriting Workbench integrated with CogniSure's Submission Insights platform is a great example of the Insurtech ecosystem at work," said Thiru Sivasubramanian, Chief Solutions Officer, Innoveo. "The integrated offering is truly a winning proposition for Commercial Insurers as it accelerates digitization through trained ML models and enhances efficiency of submission intake and underwriting for the industry."
We believe you can build modern applications that deliver digital experiences and drive business growth without having to write any custom code. That's why it's our mission to empower enterprises in complex and regulated industries to re-imagine application development by enabling them to be connected, innovative, quick, and nimble. Backed by leading investors including Everstone Capital and Paulson & Co, Innoveo's cloud-based, AI-enabled no-code platform is currently in production globally at over 30 industry leaders across insurance, financial services, healthcare, and real estate. With Innoveo, you'll get the solutions and industry expertise you want, plus a little extra: a thoughtful, no-nonsense experience delivered with a refreshing dose of honesty. For more information, visit: www.innoveo.com.
About CogniSure AI
CogniSure helps commercial lines companies to transform unstructured insurance documents into actionable insights. Its deep learning algorithms accurately extract, normalize, validate, and analyze data from documents to develop insights that will enhance risk decision-making capabilities, improve customer experience and prevent losses. For more details, please visit www.cognisure.ai.
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.”
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.
CLAIMS, RISK MANAGEMENT
PRnewswire | April 24, 2023
Oakbridge Insurance Agency LLC (Oakbridge), one of the largest independent insurance and risk management agencies in the Southeast, announces the addition of Wilson Insurance to its team in Waycross, Georgia.
This addition increases Oakbridge's significant position in the state of Georgia and supports the agency's continued growth across the Southeast.
"The combination of Oakbridge (formerly McNeal, Sports and Wilson) with Wilson Insurance provides clients access to expanded insurance carrier and risk management solutions," said Robbie Smith, Chief Executive Officer at Oakbridge Insurance. "This is an exciting combination that makes both organizations better equipped and more responsive to our clients."
Wilson Insurance, founded in 1956, specializes in personal and commercial property and casualty, including surety solutions, and group and individual life and health in Southeast Georgia and Northeast Florida.
"Our partnership with Wilson Insurance further enhances our already dominant position in Southeast Georgia and adds several key client relationships to our firm," said Matt James, Chief Financial Officer at Oakbridge Insurance. "We are excited to partner with the talented team at Wilson Insurance and look forward to our expanded presence in the region."
"The Wilson Insurance partnership is a great addition to our Waycross footprint for Oakbridge," said Will Wilson, Principal at Oakbridge Insurance. "It is a unique opportunity to continue the Wilson family legacy and enhance the presence of Oakbridge in our local community."
About Oakbridge Insurance Agency
Founded in 2020 through the merger of four leading insurance and risk management firms in the Southeast, Oakbridge Insurance Agency LLC is a rapidly growing partnership model for firms seeking accelerated growth, access to capital and an expanded suite of resources with which to serve clients. Ranked a "Top 100" insurance brokerage by Business Insurance and Insurance Journal magazines, Oakbridge is now one of the largest privately owned insurance, risk management and employee benefits agencies in the region. The agency has specific experience in the agriculture, bond/surety, construction, financial, health care, manufacturing, municipalities, non-profit, senior living and transportation industries. Learn more: oakbridgeinsurance.com