Gallagher’s Artex Risk Completes Purchase of ILS Specialist Horseshoe Insurance

Arthur J. Gallagher & Co. announced its captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions Inc., has completed its purchase of Bermuda-based Horseshoe Insurance Services Holdings Ltd. Financial terms of the deal, which was first announced in October 2019, were not disclosed. Artex said this acquisition significantly strengthens its insurance-linked securities (ILS) operations. The company said that Horseshoe will become the global brand of ILS services for Artex, which will operate as one global team across multiple jurisdictions to better serve its clients and provide consistent delivery of services regardless of the domicile.

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Claims, Life Insurance

Genpact Works with AWS and Amazon Business to Redefine Insurance Claims Lifecycle

Genpact | November 30, 2023

Genpact a global professional services firm focused on delivering outcomes that transform businesses, announced it is working with Amazon Web Services (AWS) and Amazon Business to introduce a transformed approach to property loss replacement and claims management. Genpact is leveraging its extensive claims management expertise as well as Amazon Bedrock generative AI capabilities and Amazon Business procurement API integrations, including pricing information, to reduce the claims submission process from weeks to days. This initiative is streamlining replacement item identification and enabling more efficient and timely delivery of policyholder estimates. Amazon Bedrock is a fully managed service that provides access to foundation models (FMs) from leading AI companies through an application programming interface (API) to build and scale generative AI applications. "AI is fundamentally reshaping the landscape of the insurance industry," said Sameer Dewan, Global Operating Officer, Genpact. Our Genpact AI-driven automated pricing workflow, powered by AWS, is transforming the research, significantly reducing the time adjusters spend investigating by as much as 75 percent. By automating routine tasks and enhancing decision making, our AI solution is empowering smarter pricing decisions, expediting claims settlements, and bringing about a profound transformation in the customer experience. [Source - PR Newswire] Genpact is committed to delivering measurable value to its clients through ongoing innovation. In the future, the company plans to integrate additional AI services into the automated workflow to introduce enhanced features. These include real-time summaries of market values for claimed contents and optimal action recommendations for further processing. About Genpact Genpact is a global professional services firm delivering the outcomes that transform our clients' businesses and shape their future. We're guided by our real-world experience redesigning and running thousands of processes for hundreds of global companies. Our clients – including many in the Global Fortune 500 – partner with us for our unique ability to combine deep industry and functional expertise, leading talent, and proven methodologies to drive collaborative innovation that turns insights into action and delivers outcomes at scale. We create lasting competitive advantages for our clients and their customers, running digitally enabled operations and applying our Data-Tech-AI services to design, build, and transform their businesses. And we do it all with purpose. From New York to New Delhi and more than 30 countries in between, our 115,000+ team is passionate in its relentless pursuit of a world that works better for people.

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Health Insurance

Caris Life Sciences and Flatiron Health Partner to Create Transformational Real-World Data Offering

PR Newswire | January 09, 2024

Caris Life Sciences(Caris), the leading next-generation AI TechBio company and precision medicine pioneer that is actively developing and delivering innovative solutions to revolutionize healthcare and improve the human condition using molecular science and AI, and Flatiron Health, a leading healthtech company transforming evidence generation through an engaged care network, oncology-specific expertise, and fit-for-purpose scientific methods and tools, today announced a partnership to create a multimodal data offering to support and accelerate biopharmaceutical drug development and patient care. Combining the breadth and depth of Caris' genomic, transcriptomic and imaging database with Flatiron's industry-leading longitudinal patient data and high-quality clinical outcomes, backed by deep scientific expertise, equips cancer researchers with robust comprehensive real-world data (RWD) offering at scale to power the next wave of cancer therapeutics. "We are excited to collaborate with Flatiron Health to create a multimodal data offering in support of biopharma's efforts to bring novel personalized therapeutic interventions to market to ultimately improve the lives of cancer patients," said David Spetzler, MS, PhD, MBA, President of Caris Life Sciences. "In forming this data union, we are able to maximize biological and clinical context to better understand each patient journey." "We are thrilled to announce this groundbreaking partnership that brings together Caris' leading molecular science capabilities with Flatiron's unparalleled gold standard of high-quality oncology real-world data," said Stephanie Reisinger, Senior Vice President and General Manager, Real-World Evidence, Flatiron Health. "This opportunity has the potential to create the largest and best-in-class clinical-omics dataset with Whole Exome and Whole Transcriptome sequencing coverage, expanding our opportunity to support biopharma in the preclinical stages of drug discovery and translation." "Identifying sufficient numbers of records to build cohorts of adequate size that can be used to address the most pressing research questions is a challenge that plagues the oncology community. With Caris and Flatiron's combined strength and broad reach across oncology, we can provide this incredibly powerful data at a scale that will fuel drug discovery and therapeutic innovation," said Brian Lamon, PhD, Chief Business Officer of Caris Life Sciences. As the pioneer in precision medicine and molecular profiling, Caris has created a molecular-rich, real-world database that contains more than 50 petabytes of oncology-specific genomic, transcriptomic, proteomic and imaging data. Caris was the first in the molecular diagnostic industry to provide Whole Exome Sequencing DNA coverage and Whole Transcriptome Sequencing RNA coverage (WES / WTS) for every patient tested. About Caris Life Sciences Caris Life Sciences (Caris) is the leading next-generation AI TechBio company and precision medicine pioneer that is actively developing and delivering innovative solutions to revolutionize healthcare and improve the human condition using molecular science and AI. Through comprehensive molecular profiling (Whole Exome and Whole Transcriptome Sequencing) and the application of advanced AI and machine learning algorithms, Caris has created the large-scale, clinico-genomic database and computing capability needed to analyze and unravel the molecular complexity of disease. This convergence of sequencing power, big data and AI technologies provides an unmatched platform to deliver the next-generation of precision medicine tools for early detection, diagnosis, monitoring, therapy selection and drug development. Headquartered in Irving, Texas, Caris has offices in Phoenix, New York, Tokyo, Japan and Basel, Switzerland. Caris or its distributor partners provide services in the U.S., Europe, Asia and other international markets. About Flatiron Health Flatiron Health is a healthtech company expanding the possibilities for point of care solutions in oncology and using data for good to power smarter care for every person with cancer. Through machine learning and AI, real-world evidence, and breakthroughs in clinical trials, we continue to transform patients' real-life experiences into knowledge and create a more modern, connected oncology ecosystem. Flatiron Health is an independent affiliate of the Roche Group.

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Insurance Technology

Roadzen Partners with HCLTech to deliver AI-driven auto insurance solutions for US carriers and automotive customers

Roadzen Inc | December 01, 2023

HCLTech, a global technology company, and Roadzen, a leading AI-driven auto insurance technology company, announced a collaboration to harness the power of AI and data engineering to deliver benefits to both auto insurance carriers as well as their customers. This partnership will help auto owners preserve the value of their assets, improve safety and reduce insurance premiums. At the same time, it will help carriers with better insights into driver behaviors and improve loss ratios. said Srinivasan Seshadri, Chief Growth Officer and Global Head, Financial Services, HCLTech. Partnering with Roadzen aligns with our commitment to constantly evolve and offer unparalleled services to our insurance customers. We see AI as a transformative power in the insurance sector and believe the combination of HCLTech’s trusted delivery capabilities with Roadzen’s AI leadership creates a solution that all our clients will be excited to engage with, to redefine insurance experiences. [Source -GlobeNewswire] The HCLTech-Roadzen partnership underscores the significance of telematics, computer vision and AI in the auto insurance industry. The collaboration draws on and significantly enhances HCLTech’s domain expertise in auto insurance and related service offerings, positioning HCLTech as a forward-looking provider of next-gen insurance technology to clients. "We are thrilled to collaborate with an industry leader like HCLTech. This synergy perfectly embodies Roadzen's mission to revolutionize insurance through AI and tech-forward solutions," said Rohan Malhotra, Chief Executive Officer and Founder of Roadzen. HCLTech was positioned as Leader in the Everest’s Insurance Business Model Innovation Enablement Services – PEAK Matrix Assessment 2021. It was also recently named a Leader and Star Performer in Everest Group’s Application and Digital Services (ADS) in Property & Casualty (P&C) Insurance PEAK Matrix® Assessment 2023. About HCLTech HCLTech is a global technology company, home to more than 221,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending September 2023 totaled $12.9 billion. About Roadzen Roadzen is a leading insurance technology company on a mission to transform global auto insurance powered by AI. Thousands of clients - from some of the world’s leading insurers, fleets and carmakers to small fleets, brokers and insurance agents - use Roadzen’s technology to build new products, sell insurance, process claims and improve road safety. Roadzen’s pioneering work in telematics and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune and Financial Express.

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