Foxquilt, Digital Partners, a Munich Re company | January 27, 2021
Foxquilt, a main insurance technology company zeroed in on engaging small businesses and B2B networks to save money on small business insurance, has partnered with Digital Partners, a Munich Re company, to empower the company to work as a full-administration insurance supplier and co-creator of new, end-to-end insurance items/programs for small businesses.
"Small businesses deserve immediate access to tailor-made insurance solutions that complement their unique operations. However, it requires building new architecture to support data-powered algorithms to afford such value. Our team built a dynamic underwriting platform that rewards business owners with an empowered value offering including simplicity, new products and savings. The progressive platform, Foxden, discerns the nature of the risk, underwrites and rates it, and directs it to a custom-made, proprietary product," said Mark Morissette, CEO and Co-Founder of Foxquilt.
This Digital Partners collaboration furnishes the Foxquilt group with the autonomy and abilities to plan inventive items and underwriting and rating algorithms.
"Our partnership with Foxquilt will be our first in Canada, and we are delighted to support them in the Canadian SME insurance market," said Dave Brune, President and CEO, North America, Digital Partners, a Munich Re company. "At Digital Partners, we continue to be excited to partner with insurtechs like Foxquilt who are leveraging smart data and machine intelligence to efficiently underwrite small business risks and adapt business coverage as clients grow."
Foxden is a full-stack underwriting platform comprised of information layered, miniature help architecture. Every one of its administrations, including underwriting and rating, are powered by information algorithms to drive activities across the platform. Foxquilt is one of the first to fabricate a back-end platform zeroed in on productivity; most of insurtechs influence an outsider, vendor platform, don't claim the IP and are encumbered by impediments characterized by the vendor. The creative backend framework goes past customary insurance exchanges and empowers underwriting to interface and get changes to the market real-time. Skeptic to channel, (B2C, B2B, SaaS) the platform gets to new wellsprings of information and builds up moment feedback circles to profit the entire customer venture.
Foxquilt is a pleased boss of small entrepreneurs and being powered by Foxden will permit the company to continue its central goal to become the main commercial insurance technology company in North America. In February, Foxquilt is dispatching their underlying commercial lines items in Canada guaranteed by Munich Re Innovation Syndicate in collaboration with Digital Partners, a Munich Re company. They will extend their contribution into the U.S. this Spring.
Foxquilt is an Insurance technology company focused on empowering small businesses and B2B networks to save on Small Business insurance. Our Insurance-as-a-Service platform is complemented by a unique data and machine learning underwriting infrastructure. Leveraging innovative technology and creating unique products, we make life easier for business owners.
About Digital Partners, a Munich Re company
Digital Partners provides insurtechs and digital distributors with a comprehensive, go-to-market partnership, built on the financial strength and expertise of Munich Re. Our partners bring excellence in customer engagement, technology, and brand while our support includes insurance capacity with experimental underwriting, alongside product expertise, data analytics, technology to manage data and carrier connectivity, execution and operational expertise.
Cision PR Newswire | September 14, 2020
Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry, today announced the company has been selected to support fraud detection initiatives for Falcon Insurance Company. The Illinois-based auto insurer will deploy Force, Shift's fraud detection solution to accurately and efficiently uncover suspicious behaviors in the claims processes. Falcon has built a successful business on an ethos of simplicity, creativity, integrity, and efficiency. As such, the company strongly believes that the right combination of technology and expertise results in a fast and fair claims experience, the time when policy holders need insurers the most. Fraud negatively impacts the customer experience through not only higher premiums but also longer time to settlement. Knowing this, Falcon initiated a search for fraud detection technology that would meet their key requirements – ability to uncover a wide range of fraud, support for evolving fraud models – including those resulting from COVID-19 – and fast deployment and rapid return on investment.
Westland Insurance | July 09, 2021
Westland Insurance Group Ltd. is delighted to announce the acquisition of Nuera Insurance, a digital brokerage, effective July 1, 2021.
Calgary-based Nuera Insurance is a national pioneer in the development of digital insurance experiences and value-added partnerships. It provides customers with an easy-to-use and rewarding online insurance-buying experience, as well as expert assistance. Clients benefit from its relationships with well-known companies, and its collaborations with property management, real estate, and mortgage experts ensure a smooth experience for renters and homeowners.
“With the acquisition of Nuera Insurance, Westland becomes Canada’s leading digital tenant insurance provider,” says Jamie Lyons, President and Chief Operating Officer of Westland. “We are already pleased to work with rental property managers throughout Canada via our Zipsure platform to ensure that their residents are insured and to offer useful data to assist them in managing risk. The combined power of these two brands puts us in a great position to continue innovating and adding value in that space.”
“I am proud of the experience that Nuera provides to both its customers and partners,” says Nuera Insurance owner Braden Bosch. “I am confident that Westland has the scale, innovative culture, and digital focus to carry Nuera’s exciting trajectory forward.”
About Westland Insurance Group
Westland Insurance Group is Canada’s biggest and most rapidly expanding independent property and casualty insurance broker. The company’s nationwide presence of more than 170 sites and over 2,000 employees continues to grow from coast to coast. Westland’s brokers provide expert advice to clients seeking a home, business, farm, life, and auto insurance. Westland has been a family-owned company dedicated to helping its local communities since its inception in 1980.