Foxquilt, Digital Partners, a Munich Re company | January 27, 2021
Foxquilt, a main insurance technology company zeroed in on engaging small businesses and B2B networks to save money on small business insurance, has partnered with Digital Partners, a Munich Re company, to empower the company to work as a full-administration insurance supplier and co-creator of new, end-to-end insurance items/programs for small businesses.
"Small businesses deserve immediate access to tailor-made insurance solutions that complement their unique operations. However, it requires building new architecture to support data-powered algorithms to afford such value. Our team built a dynamic underwriting platform that rewards business owners with an empowered value offering including simplicity, new products and savings. The progressive platform, Foxden, discerns the nature of the risk, underwrites and rates it, and directs it to a custom-made, proprietary product," said Mark Morissette, CEO and Co-Founder of Foxquilt.
This Digital Partners collaboration furnishes the Foxquilt group with the autonomy and abilities to plan inventive items and underwriting and rating algorithms.
"Our partnership with Foxquilt will be our first in Canada, and we are delighted to support them in the Canadian SME insurance market," said Dave Brune, President and CEO, North America, Digital Partners, a Munich Re company. "At Digital Partners, we continue to be excited to partner with insurtechs like Foxquilt who are leveraging smart data and machine intelligence to efficiently underwrite small business risks and adapt business coverage as clients grow."
Foxden is a full-stack underwriting platform comprised of information layered, miniature help architecture. Every one of its administrations, including underwriting and rating, are powered by information algorithms to drive activities across the platform. Foxquilt is one of the first to fabricate a back-end platform zeroed in on productivity; most of insurtechs influence an outsider, vendor platform, don't claim the IP and are encumbered by impediments characterized by the vendor. The creative backend framework goes past customary insurance exchanges and empowers underwriting to interface and get changes to the market real-time. Skeptic to channel, (B2C, B2B, SaaS) the platform gets to new wellsprings of information and builds up moment feedback circles to profit the entire customer venture.
Foxquilt is a pleased boss of small entrepreneurs and being powered by Foxden will permit the company to continue its central goal to become the main commercial insurance technology company in North America. In February, Foxquilt is dispatching their underlying commercial lines items in Canada guaranteed by Munich Re Innovation Syndicate in collaboration with Digital Partners, a Munich Re company. They will extend their contribution into the U.S. this Spring.
Foxquilt is an Insurance technology company focused on empowering small businesses and B2B networks to save on Small Business insurance. Our Insurance-as-a-Service platform is complemented by a unique data and machine learning underwriting infrastructure. Leveraging innovative technology and creating unique products, we make life easier for business owners.
About Digital Partners, a Munich Re company
Digital Partners provides insurtechs and digital distributors with a comprehensive, go-to-market partnership, built on the financial strength and expertise of Munich Re. Our partners bring excellence in customer engagement, technology, and brand while our support includes insurance capacity with experimental underwriting, alongside product expertise, data analytics, technology to manage data and carrier connectivity, execution and operational expertise.
Insurance Data | September 30, 2020
Majesco, a global provider of insurance software solutions, today announced the launch of Majesco L&A Insurance Data & Analytics Platform, a powerful, data-driven solution that captures, analyzes and monetizes data to empower the L&A and Group Benefits business. The platform, which is pre-integrated with Majesco L&A Core Suite, leverages internal and external data with predictive and machine learning analytics to help insurers translate the data into transformational insights and actionable intelligence to meet the demands of their businesses today and tomorrow. In today’s digital age, data and analytics are the fuel for innovation and digital transformation, said Manish Shah, President and Chief Product Officer at Majesco. We want to enable carriers to leverage their operational and new, innovative sources of data that is both secure and easy to access, while putting insights directly in the hands of business to drive transformational, intelligent action. Our newly launched Majesco L&A Insurance Data & Analytics Platform provides a rich, robust solution to empower insurers to drive operational efficiency and effectiveness, as well as, innovation using these insights.
Sapiens International Corporation | November 04, 2020
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, today announced the launch of IDIT Go, a pre-configured, cloud-native solution that streamlines implementation and operations, enabling general (non-life) insurers to rapidly launch new offerings. The completeness of the solution, together with Sapiens' agile methodologies, deliver tangible business benefits within a very short time frame, at a fixed price.
Sapiens' fully digital solution, IDIT Go, is a cloud-first platform that delivers benefits only the cloud can provide, including streamlined upgrades, 24/7 accessibility from anywhere, increased operational efficiencies and security. By also providing full managed services in the cloud, Sapiens enables insurers to focus on their core business objectives without worrying about IT.
IDIT Go can be deployed within just a few months, with complete core PAS capabilities. IDIT Go is a new, pre-configured version of the Sapiens IDITSuite core insurance solution and provides access to a diverse array of product configurations for personal and commercial lines.
Designed to offer 'plug 'n play' business functionality and enhanced user experience, IDIT Go provides the following key benefits: faster time to market based on low-code architecture, digital-first configurable portals, resilient policy administration system (PAS), and cloud-native benefits and scalability for future growth.
"Empowering insurers in their quest to be more agile and adapt to ever-changing market requirements is at the core of Sapiens' mission. IDIT Go is a scalable solution that serves as a catalyst for growth," said Roni Al-Dor, Sapiens president and CEO. "IDIT Go leverages our depth of industry expertise, innovative technology and robust capabilities to ensure we support our clients' needs in every step of their digital transformation and assist them to achieve a rapid time to value."
IDIT Go also features a menu of open APIs, which offers P&C providers full access to Sapiens' insurtech ecosystem, enabling the quick addition of tools for customer engagement, sales and marketing, product enhancements and more. IDIT Go serves established industry players, greenfield insurers and digital startups alike. The solution offers multi-lingual, multi-currency and multinational functionality.
Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers' compensation and financial markets. With more than 35 years of experience delivering to more than 500 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements.