INSURANCE TECHNOLOGY

Fenris and Sureify Have Formed a New Partnership

Fenris | June 08, 2022

Fenris_and_Sureify
Fenris Digital (Fenris), an insurance data sourcing innovator with a suite of API-delivered, SOC 2 compliant products, is pleased to announce a new partnership with enterprise life insurance platform Sureify to deliver Life Events Monitoring and Alerts (LEMA) to Sureify's LifetimeENGAGE users to increase customer interaction and, ultimately, satisfaction.

Fenris Life Event Monitoring and Alerts will be made available on Sureify's LifetimeENGAGE platform, which helps carriers and brokers build long-term relationships with policyholders by driving health and wellness activities, purchase decisions, financial education, and more. Sureify's carrier and broker customers will receive real-time alerts concerning changes in the lives of policyholders that would need a review of current coverage because of Fenris' life event alerts being made available through its platform.

The lives of our client's policyholders are changing faster than ever. Insurance providers need to be aware of these changes in real time so they can engage with their customers at exactly the right moments. By integrating with Fenris, we're investing to ensure that, through our clients, modern policyholders' needs are being almost proactively met, which is immense."

Sureify COO Ryan Swanson.

Data is at the heart of a carrier's engagement practices that lead to informed agents guiding policyholders along the customer lifecycle, Working with Sureify to make our real-time alerts available to the life insurance space will give agents, brokers, and carriers the insight they need at the right time to nurture their relationship with policyholders."

Jennifer Linton, CEO and Founder of Fenris.

Fenris enables traditional, innovative, and embedded insurance companies to better acquire customers by leveraging data repositories of 255+ million persons, 130+ million homes, 30+ million small businesses, and total coverage of all properties in the United States. Through real-time alerts that prompt outreach to policyholders, Fenris' Life Event Monitoring and Alerts promotes engagement, raises retention rates, and leads to business growth.

Spotlight

Millions of businesses across the nation are struggling to make ends meet, many facing significantly reduced or eliminated revenue streams. Will Business Interruption insurance fill the gaps created by the shutdowns?

Spotlight

Millions of businesses across the nation are struggling to make ends meet, many facing significantly reduced or eliminated revenue streams. Will Business Interruption insurance fill the gaps created by the shutdowns?

Related News

INSURANCE TECHNOLOGY

EY and FINEOS Partnered to Promote Smart Digital Transformation for Insurers

EY | May 26, 2022

FINEOS and Ernst & Young Business Consultants have announced an alliance (EY Ireland). The Alliance will support intelligent digital transformation for insurers. Furthermore, it will positively impact the entire employee benefits value chain, from insurers to employers to employees, while also achieving tangible operational efficiencies. The Alliance has also been expanded to include the United States, with further global expansion planned. FINEOS is a global market leader in core life, accident, and health insurance systems. EY teams have worked with FINEOS on software implementations with different life, accident, and health insurance carriers. The goal of assisting these companies is to realize their transformation journeys through multiple technologies and services ranging from consulting to on-site execution and integration. Many insurance companies currently use manual processes, which create a slew of inefficiencies. As a result, carriers are increasingly required to influence digital and analytical solutions while redesigning customer operations and service models. The Alliance provides clients with the technology they need to achieve their transformation objectives. It will also assist EY teams in developing services around the already successful teams deploying the FINEOS Platform. FINEOS has also developed a leading cloud-based end-to-end software-as-a-service (SaaS) core product suite covering the insurance lifecycle, including rating and underwriting, quotes, claims, absence, billing, and policy administration. Through FINEOS Insight, FINEOS Engage, and EY Nexus, FINEOS and EY teams can bring artificial intelligence (AI) and machine learning capabilities and data analytics software. The industry knowledge and global reach of the EY organization and FINEOS will assist clients worldwide in accelerating smart digital transformation. Finally, this Alliance will aid in the acceleration of innovation and digitization in the employee benefits market. The collaboration between EY and FINEOS will assist clients in maximizing the value of their digital transformation efforts. Insurance carriers are likely to increase their success rate and total value as they build future-ready organizations by combining the FINEOS Platform with the consulting capabilities of EY teams." Matthias Loh, the EY Global FINEOS Alliance Sponsor. As the global life, accident, and health insurance market continues to evolve at a rapid pace, this new alliance with the EY organization brings additional business and technology experience, as well as systems integration capabilities, to assist clients in achieving their goals. As FINEOS continues to invest proactively in new products and growth plans, we want to ensure that our clients access the market support and system integration knowledge required for their transformation plans. With FINEOS New Business & Underwriting, FINEOS Claims, and FINEOS Absence implementations underway, this announcement reinforces our commitment to forging strategic alliances to better support our clients' digital transformation efforts." FINEOS CEO and Founder Michael Kelly.

Read More

AUTOMOBILE INSURANCE

Greater Than listed in AIFinTech100 list as one of world's most innovative AI solution providers

Greater Than | July 12, 2022

Greater Than the global provider of DriverDNA for real-time insurance and predictive risk insights, is listed in AIFinTech100, in recognition of its next-generation pattern AI technology providing real-time predictions of car crashes and CO2 emissions. The AIFinTech100 list, published today, highlights the world's most innovative solution providers developing artificial intelligence (AI) and machine learning technologies to solve challenges or improve efficiency in financial services. These are the companies every financial institution needs to know about as they consider and develop their digital transformation strategies and new customer propositions. "We're extremely proud that our unique patented AI technology has been recognized in the prestigious AIFinTech100 list. Thanks to the dedication and perseverance of our team, our AI can find micropatterns in people's behavior, enabling us to create a DriverDNA for every trip, with a crash probability, cost and CO2 impact attached to it. This is transforming the risk forecasting landscape for insurance, mobility providers and fleets, and incentivizing safer, cleaner driving behaviors for the benefit of the wider community," Sten Forseke, Founder of Greater Than The adoption of AI and data analytics solutions by financial institutions has exploded over the last two years accelerated by technological advancements, increased use of digital channels, and shifting regulatory frameworks. Additionally, the potential cost savings for banks from AI applications is estimated to reach $447bn over the next 12 months. As a result, the number of tech providers employing AI or data solutions to solve challenges in areas such as banking, insurance, customer experience, investment & trading and compliance has skyrocketed. This made the selection process for this year's AIFinTech100 list extremely competitive as the finalists were selected by a panel of industry experts and analysts based on research produced by FinTech Global on over 2,000 FinTech companies. "Now, more than ever, established financial institutions need to be aware of the latest AI and data analytics technology in the market to deliver competitive financial products and reach new customers. The AIFinTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by identifying the market-leading AI innovators which will have lasting impact on the industry," - says Richard Sachar, Director of FinTech Global.

Read More

CORE INSURANCE,RISK MANAGEMENT

Coalition Completes Acquisition of Insurance Carrier With Licenses In All 50 States

Coalition | August 16, 2022

Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, announced today that it has received regulatory approval and completed the acquisition of Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. Digital Affect Insurance Company is a property and casualty insurer licensed in all 50 states. The acquisition will allow Coalition to offer insurance policies through its own admitted insurance carrier. Coalition currently offers cyber, technology errors & omissions, directors and & officers, and other executive risks policies through partnerships with Allianz, Arch Insurance North America, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, Vantage, and Zurich among others. "This strategic move empowers Coalition to expand the reach of our market leading active cyber insurance offering together with other admitted insurance products, The acquisition is a natural next step in our evolution and will allow us to better serve our broker partners and customers, while continuing to push the boundaries of innovation in cyber insurance, executive risks insurance, and beyond." -Shawn Ram, Head of Insurance for Coalition This acquisition builds on a string of important company milestones in 2022. Most recently Coalition announced a $250M investment in July 2022, boosting the valuation of the company to $5B, and appointed its first ever chief financial officer and general counsel earlier this month ahead of a planned expansion into the UK. Coalition's Active Insurance combines industry-leading cybersecurity tools, access to around-the-clock digital forensics and incident response, and comprehensive insurance coverage to help organizations identify, mitigate, and insure digital risk. Coalition's technology advantage has allowed the company to build a sustainable, high-performing book of business in a highly-dynamic cyber market, while also helping Coalition customers spot and manage digital risk before it strikes. Coalition now serves over 160,000 customers with Active Cyber Insurance, Active Executive Risks Insurance, P&C insurance, and cybersecurity capabilities. About Coalition Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Through its partnership with leading global insurers Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions and Vantage, Coalition offers its Active Insurance products in the US and Canada and its security products to organizations globally. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates both digitally and in office hubs across the globe.

Read More