CORE INSURANCE, INSURANCE TECHNOLOGY
Accesswire | May 04, 2023
CogniSure AI, a leading provider of insurance document extraction and analytics solution provider, has entered into a partnership with market-leading no-code platform provider, Innoveo, to drive underwriting efficiencies and pricing accuracy for commercial insurers.
CogniSure's Submission Insights platform unlocks understandings trapped in unstructured documents such as loss runs, applications, schedules, and SOVs - in real time with high accuracy levels. The enhanced submission data output is integrated into Innoveo's Digital Underwriting Workbench accelerator that automates underwriting workflows to deliver a frictionless and end-to-end digital experience for underwriters.
This partnership thus combines the power of two revolutionary technologies - the no-code capabilities of Innoveo with the AI-powered automation capabilities of CogniSure. The pre-built integration between CogniSure and Innoveo will help insurers cut down the time and cost of processing submissions and boost underwriting capacity while allowing underwriters to focus on risk analysis and decision-making.
"We are excited to partner with Innoveo who is committed to the cause of improving time to value and innovation for the insurance industry. We are thoroughly impressed by their no-code capabilities, and I believe the unique combination of our solutions will maximize value for commercial insurers driving superior underwriting outcomes," said Sai Raman, Founder & CEO, CogniSure.
"Innoveo's Digital Underwriting Workbench integrated with CogniSure's Submission Insights platform is a great example of the Insurtech ecosystem at work," said Thiru Sivasubramanian, Chief Solutions Officer, Innoveo. "The integrated offering is truly a winning proposition for Commercial Insurers as it accelerates digitization through trained ML models and enhances efficiency of submission intake and underwriting for the industry."
About Innoveo
We believe you can build modern applications that deliver digital experiences and drive business growth without having to write any custom code. That's why it's our mission to empower enterprises in complex and regulated industries to re-imagine application development by enabling them to be connected, innovative, quick, and nimble. Backed by leading investors including Everstone Capital and Paulson & Co, Innoveo's cloud-based, AI-enabled no-code platform is currently in production globally at over 30 industry leaders across insurance, financial services, healthcare, and real estate. With Innoveo, you'll get the solutions and industry expertise you want, plus a little extra: a thoughtful, no-nonsense experience delivered with a refreshing dose of honesty. For more information, visit: www.innoveo.com.
About CogniSure AI
CogniSure helps commercial lines companies to transform unstructured insurance documents into actionable insights. Its deep learning algorithms accurately extract, normalize, validate, and analyze data from documents to develop insights that will enhance risk decision-making capabilities, improve customer experience and prevent losses. For more details, please visit www.cognisure.ai.
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CORE INSURANCE, LIFE INSURANCE
PRnewswire | May 18, 2023
Estrella Insurance, a leading property and casualty insurance agency and national franchisor, has been acquired by Confie, the largest personal lines insurance distribution company in the U.S. Confie leadership says the move will "greatly expand" the company's presence in Florida, and will fall under Confie's Freeway Insurance division.
Estrella's more than 190 offices and employees across the U.S. will continue to operate under its current brand, and Confie will retain all current employees with the acquisition.
According to Confie CEO Cesar Soriano, "Estrella has built a strong franchising model well-known among Hispanic consumers and business owners alike. Franchising allows us to broaden our customer reach, and accelerate our growth into new markets. Americans are entrepreneurial by nature and we proudly will offer them the choice between three trustworthy brands."
"Our franchise partners are family, and their success is our success. It was important to find the right partner that would support both our brand, customers, and growth plan," said Nicolas Estrella Jr., Estrella's CEO. "Confie is a highly respected organization with years of industry knowledge and forward momentum. It was a perfect fit for Estrella."
Estrella Insurance operates in Florida, California, Arizona, Texas, and Colorado. For over 40 years, the agency has provided affordable insurance solutions and exceptional service to their customers. Their product portfolio includes auto, home, commercial, business, life, and health.
Confie, which has more than 750+ retail locations in 23 states, introduced franchising opportunities to entrepreneurs in 2022. Their leadership adds the Estrella acquisition is part of Confie's larger growth and development expansion plans.
"Estrella has aggressive growth plans that will only be strengthened through our affiliation with Confie," says Nicolas Estrella, Jr., CEO of Estrella. "We are thrilled to be part of the Confie organization and see great potential ahead."
About Estrella Insurance
Miami-based Estrella Insurance is a property and casualty insurance franchisor and a trusted leader among consumers and insurance companies by providing simple, cost-effective insurance solutions across its auto, home, commercial, business, life, and health insurance portfolios. With more than 190 offices across the U.S., it is consistently ranked as a top franchise opportunity with a proven business model that allows owners to focus directly on customer support and community engagement. For more information on franchise ownership, visit www.estrellafranchise.com.
About Confie
Established in 2008, Confie is the nation's leading personal lines insurance distribution company. Today, Confie meets customers wherever they are – with more than 750+ retail locations in 23 states, the Bluefire general agency, and a telephone and online shared service center servicing all 50 states. With flexible insurance options, outstanding value, and convenient service, Confie's aspiration is to be the most trusted source of insurance solutions so our customers can have peace of mind. Confie is a portfolio company of Alliant. For more information about Confie, visit www.confie.com.
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WORKERS COMPENSATION, LIFE INSURANCE
PRnewswire | May 02, 2023
Leading voluntary benefits provider Colonial Life has launched Gathr, a cloud platform to transform the way small businesses deliver benefits and address common human resources needs. Gathr enhances and elevates benefits enrollment, administration, and HR experience so employers and their brokers can save time and focus on what matters most.
Gathr combines Colonial Life's proprietary and market proven technology to help workers sign up for medical, voluntary and group benefits, in a secure digital experience.
"Gathr provides an intuitive benefits and HR experience for small and medium-sized businesses," says Tim Arnold, president and chief executive officer of Colonial Life. "Leveraging Gathr eliminates the need to coordinate with each carrier, which saves time and simplifies open enrollment for companies, their employees and our broker partners."
Gathr provides these flexible, digital solutions:
Benefits Enrollment: Centralized portal for open enrollment; custom enrollment communications and easy-to-understand educational materials
Benefits Counseling: Delivers 1-to-1 benefits; available in person, virtually, over the phone, or with a hybrid approach
Digital Documents & Workflows: Digitally sign, complete, and track all benefits and HR documents
Compliance: Centralized recordkeeping helps businesses maintain compliance with the most recent ACA, ERISA, COBRA, HSA, and FSA regulations
Premium Add-on Features –Time tracking, paid time off, performance management, and custom workflows can be added to help businesses manage their HR needs as they scale up
About Colonial Life
Colonial Life & Accident Insurance Company, a subsidiary of Unum Group, provides financial protection benefits to America's workers and their families when the unexpected happens. The company offers workplace benefits, including disability, life, accident, dental, cancer, critical illness and hospital confinement indemnity insurance. Colonial Life's benefit services, education and innovative enrollment technology supports over 87,000 businesses and 4 million workers. In 2022, Colonial Life paid more than $700 million in benefits to policyholders.
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