Invoice Cloud | March 17, 2021
Invoice Cloud, an EngageSmart answer for online bill payment services, today reported huge development in the insurance industry, having marked 150 insurance clients in three years. Invoice Cloud presently serves clients in large commercial and personal lines, laborer's compensation, farm bureaus, medical malpractice, regional carriers, and managing general agents (MGAs)— supplanting significant contenders more than 40 times.
The previous year brought a restored push for advanced change in the insurance industry as a worldwide pandemic challenged insurers to communicate, service and process manual payments, and to win new business. All must be managed without taking a chance with the wellbeing and prosperity of workers acquainted with an in-person working model.
With mail frameworks under huge tension in the midst of extreme climate occasions and a critical expansion in volume, the requirement for protected, productive, easy to use computerized payment choices has additionally skyrocketed. People and independent ventures have been under colossal monetary pressure with worldwide disturbance and a financial plunge at play, just enhancing the requirement for disentanglement of payments.
Invoice Cloud clients have encountered striking, substantial advantages from the stage. California Mutual, for instance, encountered a 151% expansion in e-appropriation and higher consumer loyalty, a 15x expansion in paperless enlistment, a normal diminishing of 15 hours of the week spent on payment compromise, and a lessening in sent payments, all inside a year of carrying out the Invoice Cloud arrangement.
Invoice Cloud has additionally as of late marked two large clients in laborer's compensation insurance. The organization's work with carriers of laborer's compensation insurance shows the arrangement's top-rate customization abilities, as these clients frequently choose a pay-more only as costs arise plan rather than the basic level fee model utilized by most insurance organizations.
About Invoice Cloud
Invoice Cloud, an EngageSmart solution, is the leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping legacy institutions put customer experience first. By switching to InvoiceCloud, clients improve customer engagement, loyalty, and efficiency while reducing churn and missed payments in the process. With over 2,100 clients across the US and over 50 million payments processed annually, InvoiceCloud is one of the most secure, innovative, and inclusive fintech solutions in the market.
Guidewire | May 12, 2021
P&C insurers trust Guidewire Software to engage, innovate, and expand effectively, and the company today announced the latest release of its market-leading cloud platform. On the 11th and 12th of May, Cortina will be unveiled at Connections Reimagined.
The event-based, API-first Integration Framework from Cortina speeds up the link of Guidewire to other platforms, allowing teams to simplify further workflows and drive creativity. Closed-loop analytics provides specific information during the insurance lifecycle, allowing claims and underwriting experts to make smarter, quicker decisions. Furthermore, platform evolution through Application Services enables developers to experiment and build quicker to keep up with the competition.
Expanded Application Services makes integrations and other InsuranceSuite interactions easier to build and maintain.
• Guidewire Cloud Console—Enhanced tooling to enable IT self-service with provisioning and deployment, as well as database backups and restores. What used to take two people 20 days now takes one person 15 minutes to provision and deploy.
• Guidewire Claims Autopilot**—Cloud-based claims service that allows for an automation-first approach to claims handling, enabling insurers to leverage artificial intelligence, analytics, and digital technologies to deliver better customer experiences, while lowering operating expenses.
Insurers are empowered to make better-informed decisions with closed-loop analytics enabled by Data Studio.
• Closed-loop analytics — A new holistic solution, Initial Segmentation for Auto/Motor Claims in ClaimCenter, improves claims processing efficiency.
• Data Studio — A new data management tool to access, create, and publish business-ready data sets to enable insurers to leverage their data wherever it’s needed.
Integration Framework reduces the complexity of integrations across the P&C lifecycle.
• InsuranceSuite Cloud API expansion—Broader functional coverage enables apps to do more using the APIs. Further improving the Guidewire developer experience, the ClaimCenter API reference is now publicly available for developers.
• Integration Gateway —A new integration service that orchestrates calls to and from InsuranceSuite and third-party applications. Reduced integration complexity enables developers to drive more innovation.
• Application Events — A new integration service enabling developers to easily publish event streams from InsuranceSuite that “push” data and events to external systems. This service automates more processes and enables insurers to create their differentiating ecosystem of connected apps and services.
With twice-yearly launches since the launch of Aspen in May 2020, the organization has been increasing the importance of its platform. Guidewire Cloud is being chosen by insurers to replace self-managed deployments, power greenfield implementations, and transition their core business. Thirty-three Guidewire InsuranceSuite clients have chosen Guidewire Cloud, with 12 now operational.
For the third year in a row, Guidewire was positioned as a Leader in Gartner, Inc.'s Magic Quadrant for Non-Life Insurance Platforms, Europe1. Furthermore, Guidewire was named a Leader in Gartner, Inc.'s Magic Quadrant for P&C Core Platforms, North America for the sixth time in a row.
For the third year in a row, Guidewire was positioned as a Leader in Gartner, Inc.'s Magic Quadrant for Non-Life Insurance Platforms, Europe1. Furthermore, Guidewire was named a Leader for the sixth time in a row in Gartner, Inc.'s Magic Quadrant for P&C Core Platforms, North America2 for InsuranceSuite, and a Challenger for the fourth time in the same report for InsuranceNow.
Guidewire is the forum that P&C insurers rely on to effectively participate, evolve, and expand. To offer our platform as a cloud service, we combine digital, central, analytics, and AI. Guidewire is used by over 400 insurers, ranging from start-ups to the world's biggest and most sophisticated.
As a supplier to their clients, they are constantly evolving to support their growth. They are proud of our unmatched implementation track record, with 1,000+ active initiatives supported by the industry's biggest R&D team and partner ecosystem. Hundreds of applications are available in their marketplace to help with integration, localization, and innovation.
Snapsheet | August 27, 2021
Snapsheet, the pioneer of virtual appraisals and an emerging leader in cloud-native claims management software, today announced that NYCM Insurance, a leading personal lines insurance carrier serving customers in New York State, is tapping Snapsheet Payments software to enable digital payments for customers alongside its existing check option. In addition to digitizing payments, Snapsheet will also facilitate faster communication methods during the payments process, power automated workflows, and offer increased transparency into payment statuses. Further, Snapsheet is providing NYCM Insurance with access to a vendor network, enabling the carrier to electronically pay vendors, including third-party administrators, law firms, property contractors, and others.
NYCM Insurance prides itself on providing the outstanding service and security it was founded on more than 120 years ago in 1899. Snapsheet is dedicated to supporting the multi-line carrier as it embarks on its digital transformation journey.
"Our customers are our top priority, and we strive to do everything possible to make their experience as efficient, transparent, and easy as possible," said V. Daniel Robinson, President and CEO of NYCM Insurance. "By expanding our options for payment beyond the traditional check and enhancing our digital communication capabilities, we're able to provide our customers, employees, agents, and business partners a sense of control in an uncontrollable event."
Snapsheet Payments software seamlessly integrates with modern, legacy or multiple core systems with business line configurations to support multiple brands. The platform digitizes the payment experience for personal and commercial P&C to life, annuity, and disability insurance carriers to rideshare disruptors. The solution enables configurable workflows, built-in banking integrations and automated digital engagement capabilities and expedites digital disbursements for policy holders, vendors and third parties. In addition, the solution achieves greater payment status transparency and increased automation through financial integration within claims and treasury organizations, delivering greater consistency for everyone involved in the disbursements process.
"An established and trusted insurance carrier for more than 120 years, it's clear that NYCM Insurance values customer service and satisfaction," said Brad Weisberg, CEO and founder of Snapsheet. "Today, as customers have grown increasingly accustomed to the convenience and efficiency that comes with digital experiences, electronic payment options are a must-have. We are proud to pioneer the digital payments transformation for our clients across the globe, helping them better meet, and exceed, modern customer expectations."
Snapsheet transforms claims experiences for clients around the globe, from the world's largest insurance carriers such as Zurich, to insurtechs like Branch Insurance and Clearcover, to sharing economy disruptors like Outdoorsy and Getaround.
Snapsheet is the pioneer in virtual appraisals and a leader in cloud-native claims management software, enabling the most innovative claims organizations to deliver the best experiences for customers. With a focus on engagement, digitization, and intelligent automation, Snapsheet provides unmatched software and processes to improve customer experience, drive greater organizational agility, and deliver transformational benefits through its Snapsheet Cloud software suite and Appraisal Services offerings. Snapsheet leads the industry in claims innovation including the deployment of the fastest digital auto insurance claims process in the United States. As a trusted innovation partner, Snapsheet works with more than 125 clients, including many of the largest insurance carriers, third-party administrators, MGAs, insurtechs and sharing economy disruptors.
NYCM Insurance is a property and casualty insurance carrier that has been providing coverage to residents and businesses in New York since 1899. The company has grown tremendously over the last 120 years and is currently under the direction of founder VanNess Robinson's great grandson, V. Daniel Robinson II. Aside from the Edmeston headquarters, NYCM Insurance has three additional offices in Sherburne, Canajoharie and Orchard Park. With a team of over 850 employees, and a network of over 1,200 independent agents, NYCM Insurance is dedicated to providing superior service and a quality customer experience to their over 525,000 customers. Insurance lines include Home, Auto, Umbrella and Business. NYCM Insurance is rated A by A.M. Best Company.