Insurance Technology
Roadzen Inc | December 01, 2023
HCLTech, a global technology company, and Roadzen, a leading AI-driven auto insurance technology company, announced a collaboration to harness the power of AI and data engineering to deliver benefits to both auto insurance carriers as well as their customers.
This partnership will help auto owners preserve the value of their assets, improve safety and reduce insurance premiums. At the same time, it will help carriers with better insights into driver behaviors and improve loss ratios.
said Srinivasan Seshadri, Chief Growth Officer and Global Head, Financial Services, HCLTech.
Partnering with Roadzen aligns with our commitment to constantly evolve and offer unparalleled services to our insurance customers. We see AI as a transformative power in the insurance sector and believe the combination of HCLTech’s trusted delivery capabilities with Roadzen’s AI leadership creates a solution that all our clients will be excited to engage with, to redefine insurance experiences.
[Source -GlobeNewswire]
The HCLTech-Roadzen partnership underscores the significance of telematics, computer vision and AI in the auto insurance industry. The collaboration draws on and significantly enhances HCLTech’s domain expertise in auto insurance and related service offerings, positioning HCLTech as a forward-looking provider of next-gen insurance technology to clients.
"We are thrilled to collaborate with an industry leader like HCLTech. This synergy perfectly embodies Roadzen's mission to revolutionize insurance through AI and tech-forward solutions," said Rohan Malhotra, Chief Executive Officer and Founder of Roadzen.
HCLTech was positioned as Leader in the Everest’s Insurance Business Model Innovation Enablement Services – PEAK Matrix Assessment 2021. It was also recently named a Leader and Star Performer in Everest Group’s Application and Digital Services (ADS) in Property & Casualty (P&C) Insurance PEAK Matrix® Assessment 2023.
About HCLTech
HCLTech is a global technology company, home to more than 221,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending September 2023 totaled $12.9 billion.
About Roadzen
Roadzen is a leading insurance technology company on a mission to transform global auto insurance powered by AI. Thousands of clients - from some of the world’s leading insurers, fleets and carmakers to small fleets, brokers and insurance agents - use Roadzen’s technology to build new products, sell insurance, process claims and improve road safety. Roadzen’s pioneering work in telematics and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune and Financial Express.
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Core Insurance
Business Wire | October 10, 2023
Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance, announced the acquisition of DeVoy Insurance Group, a well-established insurance agency deeply rooted in the community of Brookfield, Missouri.
DeVoy Insurance Group is run by Blake DeVoy, whose family has a storied history in the insurance industry dating back to the early 20th century, DeVoy Insurance Group has been a trusted name in Brookfield. The DeVoy family's dedication to serving their community has spanned generations, epitomizing their commitment to excellence.
In 1910, Blake DeVoy's great-grandfather embarked on his journey by establishing the first insurance agency in Brookfield, later selling the original DeVoy & Co. to another local agency. In 1982, Blake DeVoy's father cofounded an agency, a strategic decision that laid the foundation for the family's continued legacy in the insurance business. Blake DeVoy himself entered the insurance industry in 2002 at the age of 19, building upon his early experiences working in his father's office. His diverse background, which includes roles as an underwriter and claims representative, equipped him with a unique perspective and skill set to navigate the complexities of insurance, making him a valuable resource for clients and strong leader for his team.
"We're delighted to integrate the DeVoy Insurance Group into the Inszone Insurance umbrella," remarked Chris Walters, CEO of Inszone Insurance Services. "Their impressive legacy and enduring dedication to their local community mirrors our own commitment. This step enhances our position in Brookfield and expands our influence throughout the state, highlighting our unwavering promise to offer the best service to our valued clients."
When asked about his decision to merge with Inszone Insurance, DeVoy pointed out the ever-evolving insurance landscape and business environment. He continued, “I recognized the changing demands of the insurance climate and wanted to ensure that my clients received the highest level of service."
Clients of DeVoy Group can expect to receive the same exceptional service they are used to, now bolstered by the added resources available through the Inszone brand. Inszone Insurance is expected to announce several significant acquisitions in the upcoming months as part of its ongoing efforts to expand its footprint on a national scale.
About Inszone Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance and employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically and through acquisitions. With 44 locations across California, Arizona, Colorado, Illinois, Michigan, Missouri, Nevada, New Mexico, Oregon, Texas, and Utah, the company is looking to expand further throughout the United States.
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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.
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