Transverse Insurance Group, Cloverleaf Analytics | December 10, 2020
Cloverleaf Analytics, an insurance-prepared, enterprise business intelligence (BI) and analytics solution provider, is pleased to announce Transverse Insurance Group (Transverse) has selected the Cloverleaf business intelligence (BI) solution.
Princeton, New Jersey-based Transverse is a property and casualty (P&C) insurance company specializing in program business and providing an expansive scope of commercial and personal lines products through partnerships with program managers and reinsurers. Launched in 2018, Transverse provides conceded and non-conceded solutions and actively collaborates in all phases of program organization by drawing in a group of insurance professionals with different backgrounds of technical abilities including endorsing, product development, actuarial and financial examination, compliance, and claims organization.
“You can’t manage what you can’t see,” said Robert Zerafa, COO for Transverse. “It seems simple to say, but to compete and to continue adding unique value to our customers in the best way we possibly can, we needed access to more information. The Cloverleaf implementation will give us insights into opportunities within our existing book of business, help steer us away from unnecessary exposures, deliver cost savings through recommendations for operational efficiencies, and provide direction for development of new products which may be advantageous to our current and potential customers.”
New challenges presented by the human, economic, and political chaos of the worldwide Coronavirus pandemic face all guarantors today. Cloverleaf's comprehensive BI solution provides access to constant analytics for discovering patterns and bits of knowledge across the whole enterprise and empowering proactive business decisions that would not in any case be possible. Customers can jump start more educated decision-production processes, ramp up new business, and understand a quick quantifiable profit (ROI) utilizing Cloverleaf's natural interface to access up-to-the-minute pattern examination, 100+ pre-assembled reports, dashboards, alarms and much more.
“We are literally finding new ways of accessing and interpreting data for our insurance company clients every day,” said Robert Clark, president of Cloverleaf Analytics. “We look forward to working closely with our new friends at Transverse in the months and years to come.”
About Cloverleaf Analytics
Cloverleaf Analytics (Cloverleaf) delivers a comprehensive business intelligence (BI) solution which reduces risk and improves profitability and performance for P&C insurance companies. Cloverleaf consolidates enterprise data for real-time analytics and visualizations which drive underwriting efficiency, claims optimization, and better enterprise performance management through pre-built and ad hoc reporting capabilities.
About Transverse Insurance Group
Transverse Insurance Group is a hybrid fronting carrier serving the program, MGA and reinsurance markets with offices in New York, New Jersey and Texas. Transverse is backed by Virgo Investment Group and partner investors. Founded in 2018 by Erik Matson, CEO, and Dave Paulsson, President and CIO, Transverse is a global facilitator connecting and enabling partners through access to risk capacity and alternative capital on admitted and surplus lines paper. Solutions oriented carrier providing multi-lines of business with risk management, underwriting, claims, reinsurance and compliance to fit the objectives of their partners.
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.
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.
Cision PR Newswire | October 08, 2020
Greater Than, the insurtech provider of AI-based risk intelligence, has today entered a collaboration with MSIG Global Digital Hub and MSIG Vietnam, part of MS&AD Insurance Group, and Asia's leading insurance provider. Through the partnership, Greater Than will provide MSIG Vietnam, with AI-based driving analytics attached to an app-based loyalty service to be launched for MSIG Vietnam's auto insurance customers in the fall of 2020. The customer-centric offering will promote insurance holders that drive safe. The new offering is a step in the direction of MSIG to offer digital products creating an enhanced customer experience. Through Greater Than's AI-based risk analysis and loyalty program, the car insurance provider will be able to identify risk groups to calculate existing and future real-time damage costs and new ways to directly rewarding customers who drive safely.