Insurance Technology
PR Newswire | October 19, 2023
Acturis, the leading technology provider to the general insurance industry, has partnered with Customer Lifecycle Intelligence platform FullCircl to integrate its SmartBroker solution into the platform in order to deliver a rich, contextualised, and connected data solution for brokers, insurers, and MGAs. The SmartBroker API integration will provide next generation data enrichment to Acturis users proven to drive growth, improve decisioning, and enhance compliance.
Recent research has highlighted a persistent level of doubt when it comes to broker and insurer trust in data. This has significant knock-on impacts when tackling many of the biggest challenges facing the industry - onboarding speeds, underwriting accuracy, underinsurance, personalised customer journeys, risk and fraud reduction, and meeting compliance duties. By integrating FullCircl SmartBroker into the Acturis platform brokers and insurers can:
Efficiently identify and win new customers
Save time and pre-populate forms in Acturis with validated data
Run screening and onboarding checks
Enrich customer data to save time and improve underwriting submissions
Improve in-life monitoring for personalised experiences, elevated renewal rates, and expanded upsell opportunities
Improve customer outcomes and comply with the Consumer Duty
Speaking about the partnership Tony Goddard, CEO of Acturis commented: We're always looking for new ways to enhance how our customers write more business and ensure the trading experience is accurate, efficient, and effective. Integrating with FullCircl is another opportunity for us to elevate our platform and connect the insights brokers need, when it matters most.
Andrew Yates, CEO and Co-Founder at FullCircl said: "This integration has been driven by demand from our shared customer base. We've worked together to provide users with a connected solution that will provide meaningful opportunities to drive growth. We believe brokers, insurers and MGAs are better with data, and this integration makes data enrichment more accessible. We're delighted to announce this partnership so quickly after the launch of our SmartBroker solution and exclusive facility for BIBA members. It's an exciting time for us, and for our customers in the insurance sector."
Phil Barton CEO at Partners&, collaborators in the integration, expressed his excitement at the launch commenting: "I am delighted to see the integration of Acturis and FullCircl being announced. As a partner of both firms, and a business committed to intelligent use of technology, we could see the natural synergy in this integration, and the potential added value for our business. I am pleased to have played a role in influencing the development of this valuable proposition for the broking community."
About FullCircl
FullCircl is a Customer Lifecycle Intelligence (CLI) platform that connects the insight you need, when it matters most.
Its software, delivered through a platform, API, and suite of applications, is used to identify and acquire customers, verify entities and assess risk to accelerate onboarding, and retain and grow customers by delivering proactive account management.
FullCircl identifies millions of actionable insights daily on entities from 160 countries, providing a near real-time record of companies, their officers and shareholders, and the relationships between them. FullCircl improves commercial effectiveness while empowering businesses to satisfy regulatory requirements and make informed decisions about their customers.
FullCircl was formed following the merger of Artesian Solutions and DueDil and is backed by top tier investors including Octopus Investments, Notion Capital and Augmentum Fintech. In 2023, FullCircl acquired W2 Global Data Solutions, strengthening its KYC, AML and identity verification capabilities. Today, it serves 700+ customers, 15,000+ users, processes over 300 million onboarding and monitoring transactions per month and facilitates the onboarding of 200,000+ customers annually.
About Acturis
Acturis is the leading, award winning Software-as-a-Service provider to the insurance industry.
Founded in 2000, we have grown exponentially over the past 20 years. To date, more than 100,000 individuals, in over 40 countries, use Acturis solutions to power their business. We drive innovation in both personal and commercial lines by working closely with brokers, insurers, and MGAs. Our work has helped create and shape the insurance market of today.
The Acturis Group includes Acturis SaaS, Nordic Insurance Software (NIS), ICE InsureTech, Broker Buddha, Acturis Deutschland, Acturis France and Acturis Canada.
Read More
Core Insurance
GlobeNewswire | September 26, 2023
Applied Systems® today announced that Fisher Brown Bottrell Insurance, Inc. has selected Applied Pay to make their business units more efficient across all workflows and simplify the payment process for their customers. The agency is taking advantage of Applied Pay’s integration with Applied Epic to automate payment collection, processing, and reconciliation, while providing an effortless, modern checkout experience that internet-savvy clients have come to expect.
“We’ve used other payment solutions in the past but didn’t get the buy-in we expected because the process was too cumbersome for our customers,” said Tiffany Johnston, Senior Vice President, Technology Operations Manager, Fisher Brown Bottrell Insurance, Inc. “We’ve been long-time customers of Applied, so migrating to Applied Pay was the obvious choice. Not only do we get that ease of client payment through a link, but our accounting staff can streamline their back-end processes, a benefit that really made Applied Pay stand out.”
Applied Pay is a cloud-based electronic payments hub that enables agents and brokers to provide their clients with a secure, online way to pay new and recurring premiums. Directly integrated into Applied Epic®, Applied CSR24® and EZLynx Client Center, Applied Pay provides intuitive, branded checkout pages where policyholders can pay premiums via credit card or ACH. It automatically handles payment authorization and tokenizes sensitive information to increase security and ensure compliance. The solution also reconciles receivables at the account level, reducing manual workflows and improving the accuracy and timeliness needed to reconcile payments.
“In today’s e-commerce climate, consumers can make a purchase with just the click of a button, and paying for an insurance premium shouldn’t be any different,” said Chase Petrey, president of Applied Pay, Applied Systems. “It’s always a win-win when one solution can simplify processes for both customers and staff at once, something Applied Pay will allow Fisher Brown Bottrell Insurance, Inc. to do by offering their customers an intuitive payment hub that models the modern online shopping cart experience while providing a speedy and secure reconciliation process for their accounting staff.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.
Read More
Insurance Technology
PR Newswire | October 05, 2023
MongoDB, Inc. (NASDAQ: MDB) today at MongoDB.local Boston, announced the launch of MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance, two new initiatives that help companies in these industries accelerate their pace of innovation and better serve end-users with modern, data-driven applications. MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance include expert-led innovation workshops, tailored technology partnerships, and industry-specific knowledge accelerators to provide customized training paths designed for a range of use cases that developers in these industries work with. To learn more about MongoDB Atlas for Industries, visit https://www.mongodb.com/industries.
Organizations in the healthcare and insurance industries depend on large volumes of highly sensitive data to make critical decisions about patient care and coverage policies for customers. However, these industries face challenges not only from legacy applications that rely on siloed data, but also complex networks of providers and organizations. These constraints prevent them from realizing the full potential of their data, said Boris Bialek, Field CTO of Industry Solutions at MongoDB. With the launch of MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance, we're alleviating these challenges by providing organizations with the tools required to build modern applications that increase operational efficiency and productivity. Deploying modern applications with MongoDB can help increase interoperability across entire enterprises that enable healthcare organizations to harness real-time patient insights and build personalized care pathways, and for insurers to capitalize on AI, machine learning, and advanced analytics to modernize their underwriting and claims processes.
MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance include solutions and capabilities that can help organizations reimagine how they interact with end users by deploying data-driven applications with the flexibility, security, and resilience the healthcare and insurance industries require:
Migrate and modernize legacy applications with minimal risk and zero downtime: For organizations in the healthcare and insurance industries that want to move from legacy relational databases to modern applications on MongoDB Atlas, MongoDB Relational Migrator reduces the time, cost, and risk typically associated with these projects–making it significantly faster and easier to optimize operations and accelerate innovation. MongoDB Relational Migrator analyzes legacy databases, automatically generates new data schema and code to operate migrated applications, and then executes a seamless migration to MongoDB Atlas with no downtime required. Organizations can run the migrated, modernized application in a testing environment before deploying to production to ensure it is optimized and performing as intended. MongoDB Relational Migrator provides companies in the healthcare and insurance industries with the flexibility to move to MongoDB Atlas quickly and efficiently, so they can focus on building and shipping world-class applications.
Protect sensitive data throughout applications: With MongoDB Queryable Encryption, healthcare and insurance organizations can ensure full-lifecycle encryption of sensitive data—including patient records, medical histories, and insurance claims—not only in-transit over networks and at-rest during storage, but also while data is in use during querying. MongoDB Queryable Encryption provides state-of-the-art encryption that helps reduce data exfiltration and operational risk with an easy-to-use capability organizations can use to secure highly sensitive workloads with no cryptography expertise required. With MongoDB Queryable Encryption, developers in these industries working with highly sensitive information can protect their data throughout its entire lifecycle when being stored, queried, and processed on MongoDB.
Run data-driven applications anywhere: MongoDB Atlas for the Edge enables organizations to deploy applications closer to where real-time data is generated, processed and stored, across mobile and IoT devices, on-premises servers, and multiple major cloud providers. For example, healthcare providers can seamlessly deploy applications across mobile devices and on-premises servers for interacting with patients and accessing medical records when internet connectivity is unavailable—while also ensuring data is synchronized with the cloud once connectivity is available. Insurance companies can also deploy applications across mobile devices for use cases that simplify underwriting, claims processing, and build new cross-industry products and services. MongoDB Atlas for the Edge enables organizations to build, deploy, and manage applications that are accessible virtually anywhere without the complexity typically associated with operating distributed applications at the edge.
Reimagine possibilities with innovation workshops: Both MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance include dedicated executive engagement with industry experts from MongoDB and the MongoDB Partner Ecosystem to ideate client-specific solutions using best practices developed through proven industry experience. Healthcare and insurance innovation workshops are tailored to address the unique challenges and opportunities that these organizations face so they can modernize their operations with security and compliance in mind.
Jumpstart application development: With MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance, organizations can engage with the MongoDB Professional Services team to take advantage of healthcare and insurance expertise and accelerate projects from concept to prototype to production in less time. Experts from the MongoDB Professional Services team can work backward from an organization's specific challenges to conduct architectural reviews, and help quickly prototype proofs of concept for ideation before moving new applications to production.
Upskill teams to quickly build modern applications: MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance provide tailored MongoDB University courses and learning materials, including unlimited access to curated webinars and solutions sessions, to help developers learn how to quickly build modern applications for the healthcare and insurance fields. Organizations can benefit from training new and experienced developers from the ground up on how to build modern, data-driven applications to modernize operations and reimagine end user experiences.
To get started with MongoDB Atlas for Healthcare, visit https://www.mongodb.com/industries/healthcare, and to get started with MongoDB Atlas for Insurance, visit https://www.mongodb.com/industries/insurance.
GE HealthCare is a leader in precision care, infusing innovation with patient-focused technologies to enable better care. "GE Healthcare turned to MongoDB to manage the lifecycle of our IoT devices, from deployment to retirement," said Emir Biser, Senior Data Architect at GE HealthCare. "MongoDB Atlas is a gamechanger. This technology stack is helping us streamline commercialization and bring market-ready solutions to deliver advanced healthcare. Some of the recent tests resulted in an 83% decrease in retrieval time for critical data elements."
Inovaare Corporation is a leading provider of AI-powered compliance automation solutions for healthcare payers. "Recognizing the significance of compliance in today's healthcare environment, Inovaare sought a solution that could not only help navigate the intricacies of this domain but also bring forth profound industry expertise into the mix," said Mohar Mishra, CTO and Co-Founder at Inovaare Corporation. "MongoDB Atlas fortifies our data infrastructure and enables streamlined data processing for robust analytics and reporting capabilities. Additionally, we rely on MongoDB Atlas Vector Search to deliver context-aware compliance guidance and real-time data-driven insights. MongoDB has been instrumental in helping us consistently deliver state-of-the-art compliance solutions that empower healthcare payers."
Redcliffe Labs is India's fastest-growing omnichannel diagnostics service provider focussing on providing quality-led conclusive diagnostics to Indian citizens. "We have been working constantly to improve customer experiences and convenience by embracing innovative technologies," said Prabhat Pankaj, Chief Technology Officer at Redcliffe Labs. "To achieve that goal, we have leveraged the adaptable document database model of MongoDB Atlas to power our Smart Health Report, a resource that summarizes a range of indicators and trackers along with health tips, and dietary recommendations to evaluate holistic health. We are confident that this partnership will enable us to provide our customers with effective services."
Helvetia is one of the largest Swiss insurance companies, serving over 7 million personal and corporate customers across Europe. "Insurance policies are composed of many diverse attributes, while customer data is hierarchically structured. Trying to fit these flexible structures into rigid rows and columns of a relational database would add a lot of friction to our developers," said Daniel Maier, Lead Solution Architect at Helvetia. "MongoDB Atlas Search is blazing fast! We can surface relevant results from data sets with tens of millions of documents in around 15ms. Atlas Search has also given us a cleaner and simpler architecture. We can create new indexes in a single API call, and data is automatically synced between the database and search index, giving consistent, high quality query results. Developer and operational overhead is reduced, creating cost and time savings which we can reinvest back into building products for our customers."
About MongoDB Atlas for Industries
MongoDB for Healthcare and MongoDB Atlas for Insurance are both part of MongoDB Atlas for Industries, a program that helps organizations accelerate cloud adoption and modernization by leveraging industry-specific expertise, programs, partnerships, and integrated solutions. To get started with MongoDB Atlas for Industries, visit mongodb.com/industries.
About MongoDB Atlas
MongoDB Atlas is the leading multi-cloud developer data platform that accelerates and simplifies building applications with data. MongoDB Atlas provides an integrated set of data and application services in a unified environment that enables development teams to quickly build with the performance and scale modern applications require. Tens of thousands of customers and millions of developers worldwide rely on MongoDB Atlas every day to power their business-critical applications. To get started with MongoDB Atlas, visit mongodb.com/atlas.
About MongoDB
Headquartered in New York, MongoDB's mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, our developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today's wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses. To learn more, visit mongodb.com.
Read More