Guidewire | July 30, 2021
Guidewire Software, Inc., the platform that property and casualty insurers rely on to engage, innovate, and grow efficiently, announced today that Genpact, a firm focused on delivering digital transformation, including deep expertise in claims processing, has joined Guidewire PartnerConnect as a Solution partner. In addition, the companies announced that Genpact's new Ready for Guidewire certified add-on is now available in the Guidewire Marketplace for insurers.
Genpact supports the insurance sector by transforming business processes through digital-led innovation and digitally-enabled intelligent operations. The company acts as a transformation partner for insurers across the world; its solutions span the entire claims lifecycle to create strategic business impact while also delivering positive claims experiences for policyholders and cost-effective claims processing with shorter cycle times.
The Ready for Guidewire add-on from Genpact links ClaimCenter users to Genpact Claims Manager for digital inspection and adjudication. Virtual inspections, self-service inspections, and a complete suite of field services, including managed repairs, are all possible with Genpact's technology.
Insurers can use Genpact's Claims Services add-on to:
Create and assign claims to Genpact instantly and automatically for claims processing.
Directly access claim status updates within ClaimCenter;
Send and receive notes and documents related to the claim with ease to and from Genpact; and
Reduce claims cycle times and free up claims experts to concentrate on the entire claims process and policyholder experience to improve customer satisfaction.
Genpact is a global professional services firm that helps companies transform. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience reinventing processes for hundreds of clients, many of whom are Global Fortune 500 companies, and guided by our purpose – the relentless pursuit of a world that works better for people. We connect every dot, reimagine every process, and redefine the ways companies work — from New York to New Delhi and more than 30 countries in between – because transformation happens here.
About Guidewire Software
Guidewire is the platform that P&C insurers rely on to engage, innovate, and grow efficiently. We integrate digital, core, analytics, and AI to offer our platform as a cloud service. Guidewire is used by over 400 insurers, ranging from start-ups to the world's biggest and most complex.
As a partner to our clients, we are constantly evolving to assist their success. We are proud of our unmatched implementation track record, with 1,000+ successful projects backed by the industry's biggest R&D team and partner ecosystem. As a result, hundreds of applications are available in our marketplace to help with integration, localization, and innovation.
Beazley | June 12, 2020
Beazley has announced the launch of a new occurrence media liability policy that covers many risks faced by small to medium-sized media outlets and publishers in the US.
Beazley’s new policy provides professional indemnity cover written on an occurrence basis.
In addition, the policy offers optional coverage for technology errors and omissions, information security and privacy, and bodily injury or property damage.
Specialist insurer Beazley has announced the launch of a new occurrence media liability policy that covers many risks faced by small to medium-sized media outlets and publishers in the US.
“The media landscape has changed considerably in the last decade,” Beazley said. “As traditional publishing and media groups have moved increasingly online, freelancers who solely publish online, including bloggers, vloggers and social influencers, are growing in number and reach. As the public looks to a wide range of sources for content, the media sector has become more crowded and awareness of the risks associated with publishing varies widely.”
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Beazley’s new policy provides professional indemnity cover written on an occurrence basis. The coverage focuses on defamation, libel and slander, and infringement of copyright and trademark. It also includes a range of other content-related exposures. The policy also includes unintentional breach of contract with a client and mitigation costs (sub-limited) to minimize claims escalation.
In addition, the policy offers optional coverage for technology errors and omissions, information security and privacy, and bodily injury or property damage arising out of the publication of content.
The US media sector is undergoing substantial changes, with the launch of new channels for publishing and broadcasting and the growing reach of bloggers, vloggers and social influencers, Freelance publishers and start-up media ventures ought to be aware that they are as liable as traditional, established media groups for the content and materials they publish or share. They face a range of exposures including defamation, intellectual property and privacy, and should consider the precautions and cover they need to protect themselves against potential claims.
- Angela Weaver, global head of media liability for Beazley.
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The new policy covers various media professionals including publishers, broadcasters, authors and journalists, bloggers, vloggers, social influencers and content creators, and advertising producers and advertising agencies. Limits of up to $5 million are available on a worldwide basis.
Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia and Australia. Beazley manages six Lloyd’s syndicates and, in 2017, underwrote gross premiums worldwide of $2,343.8 million. All Lloyd’s syndicates are rated A by A.M. Best. In the US, our underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted property/casualty carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd’s. Beazley Insurance Company, Inc. is rated A by A.M. Best.
Akur8 | June 23, 2021
wefox Insurance and Akur8 are excited to report their coordinated effort, as a vital achievement to reinforce wefox Insurance's pricing process. This arrangement further builds up the presence of Akur8 in Germany, and shows the broadness of Akur8 use cases, working together with a completely advanced neo-guarantor.
Explicitly produced for insurers, Akur8's answer improves their pricing processes via computerizing hazard and request demonstrating, utilizing straightforward Artificial Intelligence proprietary technology. The center advantage for insurers is more noteworthy speed-to-exactness, while keeping up with full straightforwardness and control on the models made.
With Akur8, wefox Insurance further builds up their administration levels to clients and conveyance accomplices. wefox Insurance furnishes dispersion accomplices with custom fitted taxes, exact and designated pricing and high reactivity. Akur8 further backings wefox in its interest to severe endorsing discipline through giving an altogether robust pricing process.
The coordinated effort among Akur8 and wefox Insurance was worked with by Munich Re. This supports Munich Re's vision of key reinsurance organization including best in class counseling administrations by cooperating with their customers along the entire worth chain.
Akur8 is revolutionizing insurance pricing with transparent AI. Akur8 developed a unique AI-based insurance pricing solution that automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds.
About wefox Insurance
wefox Insurance is a digital real-time insurer. Brokers and end customers can take out paperless insurance within a few minutes. Damages are reported digitally and in more than 60 percent cases are settled on the same day. wefox household, liability and motor vehicle insurance are available in Germany, Poland and Switzerland. wefox has just announced their series C funding of over $650m for a valuation of $3bn.