FM Global EVP: AI is going to be a huge factor in insurance

Insurance Business America | May 08, 2019

Innovation is one of the biggest buzz words in insurance right now. It means different things to different people. While one firm might see innovation as investment into new ideas coming out of the insurtech ecosystem, another might see it as using technology to make improvements to something they’ve always done. Regardless of how insurance companies tackle innovation, there are two common themes that seem to penetrate each interpretation – data analytics and artificial intelligence (AI). I believe AI is going to be a huge factor in the insurance industry – it just has to be,” said Bret Ahnell, executive vice president at FM Global, a global risk management and insurance solutions provider for complex property risks. “I think the winning users of AI going forward will be defined by the companies that have good data. What are you going to do AI on if you don’t have good data? “FM Global has been a data-driven company for decades. We know where to find good data, so now we’re looking at how to turn that data into powerful knowledge for our clients.

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Spotlight

You can enhance your business’s revenue stream and customer experience by implementing a tailored insurance program powered by Marsh Affinity’s digital platform. Sourcing for and managing the appropriate insurance program can be challenging, but Marsh Affinity’s digital platform is designed to help you monitor and optimise your program with ease.

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CORE INSURANCE,INSURANCE TECHNOLOGY

Inszone Insurance Services Completes Acquisition of Kirsch Insurance Group

Inszone | December 05, 2022

Inszone Insurance Services, a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of Kirsch Insurance Group. Marlin Kirsch founded Kirsch Insurance Group in 2004. A Denver-based brokerage that specializes in Medicare Health Plans, Kirsch Insurance has focused on helping their clients in finding the best program for their specific needs. Their comprehensive grasp of all Medicare Plans and Options has helped them to assist clients in being better prepared for the future. “After years in the company, we've acquired a reputation for educating consumers in an easy-to-understand manner, so they can readily grasp the frequently perplexing concepts of the 'Medicare Maze’,” - Marlin Kirsch, the agency's prior owner The service that Kirsch Insurance clients are accustomed to will continue uninterrupted under the Inszone Insurance brand. Chris Walters, CEO of Inszone Insurance, said, Colorado has been a great source of growth for us; the acquisition of Kirsch Insurance is another milestone in our expansion in the state as we move toward our goal of establishing Inszone as Colorado's go-to insurance agency. The acquisition of Kirsch Insurance is part of the continued expansion and growth by Inszone Insurance and becomes the 9th acquisition so far in the Colorado area. Inszone Insurance is expected to announce several acquisitions as well as new locations in the upcoming months. About Inszone: 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 33 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

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CORE INSURANCE,RISK MANAGEMENT

Betterview Announces Partnership with Risk Innovator JMI Reports

Betterview and JMI Reports | December 01, 2022

Betterview, the company leading P&C insurers rely on to identify and manage real property risk, today announced a partnership with JMI Reports, one of the largest providers of onsite property data to the insurance industry. Products from JMI Reports are now available on the Betterview Property Intelligence & Risk Management Platform, allowing users to optimize inspection efficiency in a single, intuitive user interface (UI). The innovative tools from JMI Reports allow insurers to understand, prioritize and act upon risks to predict and prevent future loss. One of these is QuickVUE, a self-inspection tool that empowers insurers to thoroughly understand property risk without consuming overwhelming amounts of data. Additionally, reliable inspection data from on-the-ground physical inspections is available on the Betterview platform. Using this integration, insurance companies can filter properties based on which require a physical inspection and which ones can be fast-tracked as solid risks. “The solutions from Betterview and JMI Reports are strengthened by synthesizing them within a single platform, Customers can work with their policyholders to get rapid, accurate views of real property risk. They can then consume that information directly within our platform, gaining an immediate and actionable view of every property in their book, and flagging those that need more attention. Any insurer that uses Betterview and JMI together will see great improvements in inspection efficiency, which should translate to an improved expense ratio as well.” -Betterview co-founder and chief operations officer, Dave Tobias JMI Reports also believes that the two companies are ideal partners. Both Betterview and JMI are in the business of understanding risk and helping insurers work better with their insured, Ultimately, we want to turn underwriters and agents into insurance heroes. By integrating QuickVUE and other inspection tools directly in the Betterview platform, I believe we are taking a positive step towards that goal,says Nathan Clark, president and CEO at JMI Reports. About Betterview: Betterview is the Property Intelligence & Risk Management Platform that leading P&C insurance companies depend on to identify and mitigate risk, improve operational and inspection efficiency, and build a more transparent customer experience throughout the policy lifecycle. By empowering insurers to automate pricing, underwriting, and renewal while focusing strategic action on critical properties, Betterview is transforming the insurance industry from Repair and Replace to Predict and Prevent. About JMI Reports: JMI Reports is a risk innovator providing property profiles and data insights to improve efficiencies and profitability for insurance carriers and MGAs. For more than 30 years, our mission has remained the same: to protect your blindside by listening to your needs and delivering actionable, forward-thinking, and cost-saving solutions that make a difference.

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HEALTH INSURANCE

Digital-First Health Insurance Provider Angle Health Is Expanding in Indiana

Angle Health | November 18, 2022

Angle Health, the digital-first, full-stack health insurance company bringing transparency, simplicity, and ease of use to members, employers, and brokers, announced today it is expanding in Indiana. Powered by its integrated, AI-enabled technology platform, Angle Health provides a digital-first navigation experience with fully tailored, comprehensive healthcare benefit plans for employers. Telemedicine, behavioral health, and other digital health solutions – normally sitting outside of the traditional health insurance environment – are core offerings integrated into Angle Health plans at minimal to no cost for members. "We built Angle Health from the ground up to fundamentally change how people interact with the healthcare system and ensure that access to modern healthcare services isn't limited by a lack of time or understanding of the system, We could not be more excited to announce that access to Angle Health and our digital-first experience will be available to thousands more employers and brokers and millions more members across Indiana." -Ty Wang, co-founder and CEO of Angle Health Catering to more than 529,456 small businesses, 99.4% of all of businesses in the state, Angle Health is bringing its unified health benefits services to Indiana-based employers, brokers, and members, as follows: For Members Personalized, mobile-first member engagement: Angle Health meets members wherever they are on their journey. Angle's chat-first mobile app is a true partner in care. Whether a member has a question about the providers in the network, service costs, or how to navigate a medical concern, Angle Health is always there to remove the burden of access and navigation. Access to board-certified physicians, psychiatrists, psychologists, and therapists is always available, anytime and anywhere. On-demand pharmacy benefits are offered through a broad network of pharmacies alongside convenient options for home delivery. Concierge clinical management: The Angle Health clinical teams guide members on their everyday health questions, including acute and chronic needs, with one-on-one clinical support. Angle nurses prioritize a multidisciplinary approach, ensuring an individualized, tech-forward clinical wellness experience. For Employers and Brokers Fully customizable benefits packages to meet the needs of each employer and their employees Instant quoting and competitive pricing across its level-funded solutions Streamlined plan administration, delivering seamless employee enrollment and engagement, fully integrated with benefits administration and payroll Angle Health's level-funded solution gives our employer customers the benefits and flexibility of an independent TPA, with the predictability and seamlessness we have come to expect from national carriers, Their instantaneous quoting cuts, and in some instances eliminates, the standard 10-day turnaround quote window,Eric Dreyfus, Senior Vice President at Assured Partners, broker partner of Angle Health. Serving small and growing businesses and technology startups and scaleups alike, Angle Health is on a mission to democratize access to healthcare by bringing choice, affordability, transparency, and tailored health and wellness solutions to modern employers and their employees. Co-founded by former Palantir engineers, CEO Ty Wang and CTO Anirban Gangopadhyay, Angle Health was born out of the duo's frustration with their personal healthcare experiences. About Angle Health Angle Health democratizes access to modern healthcare by unifying today's fragmented healthcare benefits system into one core coverage and delivery platform. As a full-stack healthcare benefits provider, Angle Health drives efficiencies across the value chain through its digital-first platform—from instant underwriting for brokers and streamlined administration for employers to personalized care navigation for members. With access to a national network of healthcare providers and facilities, Angle Health is the health benefits provider for modern employers, now servicing thousands of employees and members across the country.

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