Elpha Secure and Sterling New age have partnered to launch ES-1000, A cybersecurity insurance package

insurancebusinessmag | August 10, 2020

Cybersecurity insurance company Elpha Secure and Sterling New Age Cyber have partnered to launch ES-1000, an all-inclusive, complimentary cybersecurity package. A business would generally spend in excess of $300 per user annually for the protections offered by ES-1000, said Geraldine DelPrete, president of programs for SterlingRisk. From the moment a policy is bound, Elpha Secure focuses on mitigating risk and cyber threat,” DelPrete said. “In addition to performing its initial ES Threat Metric network assessment, Elpha Secure has now rolled out ES-1000, a robust alignment of cyber assessment services, educational resources and expert consultation, all at no additional cost. We see it as a game-changer, elevating cybersecurity insurance to a central role in meeting a company’s total cybersecurity needs.

Spotlight

In our global assessment of business chatbots, we’ve identified the key elements for insurers to incorporate into these systems to successfully streamline the customer experience, reap cost savings and shift processes from reactive to proactive. Executive Summary. With the increased popularity of messaging platforms, as well as advancements in artificial intelligence (AI) and machine learning (ML), 2018 saw a surge in chatbot development for a range of business needs. Today, chatbots are integral to many enterprise initiatives focused on business modernization and digital customer experience.

Spotlight

In our global assessment of business chatbots, we’ve identified the key elements for insurers to incorporate into these systems to successfully streamline the customer experience, reap cost savings and shift processes from reactive to proactive. Executive Summary. With the increased popularity of messaging platforms, as well as advancements in artificial intelligence (AI) and machine learning (ML), 2018 saw a surge in chatbot development for a range of business needs. Today, chatbots are integral to many enterprise initiatives focused on business modernization and digital customer experience.

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RVOS Insurance Selects Majesco’s CloudInsurer® Platform to Transform its Core Operations

Rvos Insurance, Majesco | January 18, 2021

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INSURANCE TECHNOLOGY

Damco Solutions Partners with omni:us to Fast-Track Insurers Adoption of Data-Driven Cognitive Claims Management

Damco Solutions, omni:us | December 07, 2020

Damco Solutions Inc., leading innovation solutions and digital services company, has announced the partnership with omni:us, an Artificial Intelligence as a Service (AIaaS) provider to fast-track insurers adoption of data-driven cognitive claims management. Backed with more than two decades of IT experience, profound insurance domain information, and industry-demonstrated ability in arising advancements, Damco Solutions would leverage omni:us remarkable capabilities to help insurance businesses accelerate their pace of digital transformation. This partnership would uphold insurers to rapidly convey AI into their claim's lifecycle streamlining the interactions among insurers and safeguarded parties. The combination of Damco's Insurance industry experience, innovation capability with omni:us ability in AI would give exceptionally differentiated digitization services assisting insurers with reevaluating the claims venture with high impact automation. Below is a snapshot of omni:us capabilities: Digital FNOL: Real-time claims management that converts information into actionable claims data by minimizing touchpoints with intelligent claim automation Claims Indexation: AI cognitive process that streamlines document extraction and classification to read, interpret, and understand data by eliminating the manual workflow Completeness Check: AI-powered claims handling process with AI-powered decisions and recommendations, providing insights for regulatory compliance and reducing manual claims touchpoints Coverage Check: Intelligent claims automation improving productivity in the claims process by eliminating time-intensive tasks, identifying noncovered claims, detecting fraud, claims leakage, etc. "We look forward to collaborating with omni:us to help insurance companies with AI-based cognitive claims management solution and digital technologies to simplify claims lifecycle," said Mohit Gupta, Founder & Chief Executive Officer, Damco Solutions Inc. "Together, we would be able to help a broader range of insurers industrialize innovation in claims management. With the addition of omni:us, we see tremendous opportunity to enlarge our approach and help more businesses supercharge their future-readiness." "omni:us and Damco share a common aspiration: to drive insurance businesses towards a more efficient and customer-oriented experience", said Sofie Quidenus-Wahlforss, Founder & Chief Executive Officer, omni:us. "We at omni:us are excited to team up with such a veteran player in the field as Damco. Both sides will benefit from the other's strengths and specializations and be further empowered to realize our ultimate goal of bringing about wide digital transformation to the insurance sector." About Damco Damco Solutions is the trusted technology partner of businesses worldwide enabling them to leverage IT as a strategic asset. Empowered by technology expertise, immaculate execution capabilities, and unwavering focus on the customer needs; Damco has nurtured businesses to connect with their customers, clients and employees in an entirely new way. Damco and omni:us partnership aim to deliver data-driven AI-based solutions for streamlining the claims ecosystem, driving efficiency, collaboration, and bringing the digital future to global insurance businesses. About omni:us omni:us is an Artificial Intelligence as a Service (AIaaS) provider for cognitive claims management. Built on a fully data-driven approach, omni:us transforms the way insurers interact with their insured parties. It provides all the necessary tools and information to make fast, transparent and empathetic claims decisions, whilst improving operational efficiency and reducing loss adjustment expenses.

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INSURANCE TECHNOLOGY

Manulife enters agreement to reinsure over 75% of U.S. Variable Annuity block to Venerable Holdings Inc.

Markel Corporation | November 16, 2021

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