RISK MANAGEMENT, INSURANCE TECHNOLOGY
Businesswire | May 19, 2023
Socotra, Inc. announced availability of their insurance policy core platform Connected Core in AWS Marketplace. This move will make it easier for insurers to adopt the platform, resulting in faster implementation times and improved efficiencies. AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS).
Socotra's availability in AWS Marketplace is an important step forward in the company's mission to serve the insurance industry through better innovation and technology. It further solidifies Socotra's position as a leading provider of modern enterprise insurance platforms, offering insurers the ability to quickly launch new products, reduce operational costs, and improve customer experiences. Socotra's Connected Core is built on a modern cloud-native architecture, providing insurers with greater flexibility and agility to adapt to evolving market conditions. The platform is highly configurable, enabling insurers to rapidly launch new products and services, and automate underwriting, billing, and claims processes.
“For years, Socotra has valued and enjoyed our enduring relationship with AWS. As we introduce this new facet to our relationship, we believe AWS Marketplace opens the door for insurer customers to leverage Socotra’s Connected Core to modernize and speed their product and service offerings to market,” said Mike Benayoun, Director of Partnerships at Socotra. “AWS Marketplace provides our customers a trusted, convenient, and standardized means of purchasing our software, while confidently deploying on AWS.”
This news comes on the heels of the recent launch of Socotra CorePlus, a line of complete insurance IT solutions designed for Homeowners and Auto, composed of Socotra Connected Core, seamlessly integrated via Socotra App MarketPlace with industry-leading software and data providers. Socotra CorePlus is designed to decrease risk and costs, while increasing speed-to-market and standardization. Through the new availability in AWS Marketplace, insurers can shorten procurement times, implement the controls needed to operate with confidence, and enable their organizations to unlock innovation.
Socotra brings unparalleled speed, flexibility, and choice that gives insurers more control over their businesses. With Socotra’s complete insurance solutions, insurers and MGAs of all sizes can accelerate product development, reduce costs, and improve customer experiences. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable.
RISK MANAGEMENT, INSURANCE TECHNOLOGY
Businesswire | April 11, 2023
Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, today introduced CoalitionAI™, a new initiative to deploy generative AI and large language models to help brokers and businesses protect themselves from cyber risk. U.S.-based brokers and businesses can now access new AI-powered education and chat features, including:
CoalitionAI Broker Copilot: Appointed brokers in the U.S. now have access to the Broker Copilot, a generative AI chatbot embedded into the Coalition broker dashboard that can answer questions about cybersecurity best practices, cyber policy coverage options, and more. The Broker Copilot is trained on publicly-available documents and resources published by Coalition for broker inquiries and education.
CoalitionAI Security Copilot: Businesses using Coalition Control™ – Coalition’s cyber risk assessment and monitoring platform – can now seek and gain details on cyber security vulnerabilities, better understand coverage contingencies, and learn about ways to resolve cyber security issues using the new Security Copilot.
“This new wave of generative AI will unequivocally change the insurance industry and transform the broker experience,” said Joshua Motta, Chief Executive Officer and co-founder at Coalition. “Our Broker Copilot and Security Copilot are just the beginning. Over time the entire Active Insurance experience – from risk selection to active security protection to active response – will all benefit from generative AI that can help reduce the impact of cyber risk.”
The CoalitionAI features released today use a combination of proprietary technology, large language modeling, and generative pre-trained transformers. Coalition plans to introduce additional AI capabilities to support its Active Insurance offerings, including Active Risk Assessment, Active Protection, and Active Response. In the coming months, Coalition brokers and Coalition Control users will gain access to additional AI-driven tools that will strengthen the quoting, underwriting, and incident response experiences.
“AI is already reshaping the cyber risk landscape,” said Tiago Henriques, Coalition’s Vice President of Security Research. “While we are applying our AI expertise to improve the broker and customer experience, we are also focused on keeping up with emerging AI-related vulnerabilities. Part of our commitment to protecting the unprotected is helping our policyholders both understand the risks and reap the benefits of new technologies.”
Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate digital risks. Coalition offers its Active Insurance products in the U.S., U.K., and Canada through relationships with leading global insurers, as well as cyber capacity through its own carrier, Coalition Insurance Company. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses worldwide remain resilient against cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates digitally and in office hubs.
CORE INSURANCE, RISK MANAGEMENT
Businesswire | April 12, 2023
Inszone Insurance Services, a rapidly expanding national provider of benefits, personal, and commercial lines insurance, proudly announced today their acquisition of Hahn & Associates Inc.
Founded in 1999, Hahn & Associates has earned a distinguished reputation for delivering exceptional service and maintaining strong relationships with clients. Founder Phil Hahn focused on leveraging referrals and community connections to grow his business, ultimately employing five additional team members. Following his wife's stage 4 cancer diagnosis, Mr. Hahn assisted his staff in finding new opportunities while he prioritized his wife's care.
After her passing, Mr. Hahn scaled down his business, operating it as a one-person enterprise. He partnered with numerous non-profits, construction companies, and warehouses, many of which experienced financial challenges in 2008. Prioritizing relationship-building, Hahn & Associates achieved impressive client retention, with many clients remaining loyal for 10-20 years before retiring and closing their businesses.
Regarding the decision to merge with Inszone Insurance, Phil Hahn, the former owner of Hahn & Associates Inc., commented, "Inszone felt like the right fit, and their exceptional customer service made me confident in entrusting my clients to them."
Chris Walters, CEO of Inszone Insurance Services, expressed enthusiasm about the acquisition, stating, "Phil's dedication to the Denver community and his unwavering commitment to customer service are truly inspiring. We look forward to upholding this legacy as we work together to provide exceptional resources and support to every client."
Hahn & Associates Inc. is a strategic part of Inszone's ongoing expansion efforts across the United States, as it helps establish a more robust presence in Denver and its surrounding areas. Existing Hahn & Associates Inc. customers can expect to receive the same exceptional level of service they have come to know, now delivered under the Inszone Insurance brand.
AboutInszone Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 40 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.