INSURANCE TECHNOLOGY
Grange Insurance, | April 30, 2021
The insurance claims process is commonly regarded as a pivotal point in the customer experience journey. Grange Insurance has enabled next-generation policyholder interactions through the claims journey in response to changing customer expectations in the modern age.
Digital updates include:
• Two-way texting to enable Grange claims associates to connect with policyholders within multiple modes of communication
• Electronic claims payments for faster claims resolution and payment
• Proactive customer texts to keep our policyholders informed of their claim status throughout the claims process.
• These improvements are part of Grange and its associate partner Integrity Insurance's dedication to engaging in new solutions to provide exceptional customer experiences.
Two-way texting
Grange has implemented next-generation business technology to provide claims customers with text message services. Policyholders will text pictures of their assigned insurance claims and get real-time answers to their claims questions when they need them the most. This program, which is powered by Hi Marley, an AI-based conversational service interface designed specifically for the insurance sector, needs no IT integration or app to get started.
Grange saw an improvement in its already high customer loyalty scores within months of allowing two-way texting capability. Grange policyholders may connect with their adjuster in a variety of ways, including phone and email.
Paying claims electronically
Grange policyholders can also receive claims payments more quickly due to a secure electronic settlement system built to expedite restitution. Customers who file a home, vehicle, or business claim with Grange will choose to pay their claims electronically. Customers who use this payment method will collect their electronic payment in as little as a few hours by direct deposit to a checking or savings account, direct deposit to a debit card, or instant prepaid virtual cards.
Other advantages of this new capability include the ability to easily navigate payment status in a touchless experience and reduce the chance of fraud through mailed checks.
Grange allows customers to have a say in how they want to receive claims payment in the manner they find most convenient.
Claims status notification
Grange also offers automatic text messages, enabling policyholders to access claim status notifications on their mobile devices quicker than ever before. Grange's mission, with further updates already in the works, is to make the claims experience more manageable and less frustrating, allowing policyholders to get back on their feet as soon as possible. Policyholders do have the option of participating or not, and their choices can be changed at any time.
Grange is deeply committed to protecting individuals and enterprises with exceptional service and takes tremendous interest in consumer loyalty, as shown by strong ratings from J.D. Power and positive customer feedback. The business is dedicated to keeping ahead of user preferences, attitudes, and desires to have a customized and effortless customer experience.
About Grange Insurance
Grange Insurance Company, with $3 billion in assets and more than $1.3 billion in annual revenue, is an insurance provider founded in 1935 and based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home, life, and business insurance protection. Life insurance is offered by Grange Life Insurance and Kansas City Life Insurance. Grange Insurance Company and its affiliates serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and Wisconsin
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INSURANCE TECHNOLOGY
InsurTech NY | September 28, 2021
InsurTech NY, the leading resource for the InsurTech Community in the New York Metro Area, today announced the launch of its Insurance Collaboration Index™. Based on input from InsurTech executives, the index scores insurance and reinsurance companies on their willingness and ability to partner with startup insurance technology companies. It provides a rigorous and objective measure of how easy it is for a carrier and a startup to work together.
InsurTech startups strive to attract the attention of a carrier or a reinsurer, but not all carriers and reinsurers are prepared to enter into a productive and ultimately successful partnership, The Insurance Collaboration Index™ is a tool to help make all-important decisions about choosing and working with a partner. It also helps carriers understand their strengths and weaknesses, and what they need to do to be better partners.
- David Gritz, InsurTech NY co-founder.
Carriers are evaluated on executive buy-in and sponsorship, competent project management, clear objectives, effective communications, and other factors. In addition to providing startups valuable input about potential partners, survey results will help carriers assess how prepared they are to work with startups across a wide range of criteria and offer insights to strengthen their policies and procedures.
Led by InsurTech NY founders Tony Lew and David Gritz, the project draws on the expertise of an advisory board representing a broad cross-section of the insurance and innovation ecosystems. Advisory board members include Scott Hawkins and Alan Walters, Conning; Bryan Falchuk, Insurance Evolution Partners; David Bradford, Iosis Consulting; Mark Gardella, Zephyr Innovation Advisors; Mike Fitzgerald, CB Insights; Irene Yang, Finesse Consulting; and Cynthia Hardy, Pivot Global Partners.
I am pleased to see InsurTech NY undertake this important project. Not only will the Insurance Collaboration Index™ help technology companies like Pinpoint Predictive make smart decisions about their business partners, but the overall insurance industry will also benefit from more effective partnerships and increased innovation.
- Avi Tuschman, founder of Pinpoint Predictive.
About InsurTech NY
InsurTech NY supports the insurance innovation community in the New York metro area. Founded in 2019, InsurTech NY brings together carriers, brokers, investors, and InsurTech startups via bi-monthly programs. InsurTech NY's mission is to drive talent to insurance, make regulation innovation-friendly, attract InsurTechs to the New York metro area, and improve access to investment.
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INSURANCE TECHNOLOGY
HawkSoft, InsuredMine | January 19, 2021
HawkSoft, the Oregon-based insurtech company, launched an integration with InsuredMine, a Texas-based insurtech that gives sales, CRM, marketing automation, analytics, and a client mobile app in an all-in-one platform. HawkSoft embraces a collaborative API approach to help independent agencies leverage a different range of innovation partners. HawkSoft's inclusivity can go the extra mile while partnering with insurtech sellers that aim at consolidating key functionality into bound together platforms. InsuredMine utilizes HawkSoft's Partner API to populate their framework with client and strategy data pulled in near real-time from the HawkSoft agency management framework. Data from HawkSoft is used all through InsuredMine's CRM and sales work processes to assist agencies with accelerating business sales and delve further into their present book of business for cross-sales and rounding openings. Client and strategy data is also leveraged for client segmentation and automation triggers to dribble communications via advanced functionality of the Engagement module in InsuredMine. InsuredMine's mobile app for insureds also works with data in HawkSoft to allow an agency to offer mobile access to their policyholders without the requirement for any extra data section.
"HawkSoft is excited to collaborate with InsuredMine and their suite of business productivity tools," said Rushang Shah, VP of Marketing at HawkSoft. "InsuredMine, like HawkSoft, is a product-driven company," continued Rushang, "and the scope of functionality within their product allows an agency to check off so much of their insurance tech stack from one vendor."
"Integrating with HawkSoft is not just about providing a world-class solution or eliminating friction in the process for client agencies but investing in relationships that have a similar organizational mindset and obsession of driving value for clients," said Raution Jaiswal, Co-founder of InsuredMine.
Mutual customers of HawkSoft and InsuredMine can enable integration within HawkSoft's Marketplace. To learn more about InsuredMine and their integration with HawkSoft.
About HawkSoft
Since 1995, HawkSoft is a leader in management systems for independent insurance agencies that want effective workflows and a delightful experience for staff and policyholders. Created by independent agents, HawkSoft continues to evolve as a cutting-edge system that powers thousands of agencies. HawkSoft offers the following promise to insurance agents: your investment in HawkSoft will pay for itself in the first year.
About InsuredMine
InsuredMine is a best in class, all in one integrated software system helping independent insurance agents optimize and grow their agency by converting, engaging, and retaining clients, all while providing a state-of-the-art experience to the agents as well as their customers. InsuredMine's CRM helps agents with fast and smart sales, segmented and automated engagement, real-time visual analytics, and policy wallet via the mobile app to help them grow double digits and reduce operating costs. InsuredMine is empowering independent insurance agencies to compete in the digital age against digital products and grow revenues faster.
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