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.
Click-Ins, Sapiens | January 12, 2021
Sapiens International Corporation, a main worldwide provider of software solutions for the insurance industry, and Click-Ins, a rapidly developing cutting edge AI SaaS vehicle damage inspection and assessment platform, today announced a partnership that will provide carriers with a comprehensive answer for accelerate claims management.
Click-Ins joins Sapiens' robust partner ecosystem, which empowers carriers to consistently and effectively implement third party solutions, providing them a significant competitive advantage. Sapiens' API-based platform and open architecture guarantees that providers can undoubtedly choose the structure blocks they need to incorporate all components inside their ecosystem, offering full digital enablement.
Click-Ins solutions support start to finish processing, automation and claims management and settlement. Through a consistent reconciliation with Sapiens' CoreSuite for P&C, carriers, everything being equal, can outfit the advantages of AI to enable agility, speed and genuinely digital, yet simplified, claims experiences.
"AI and deep learning are transforming insurance underwriting as we know it," said Roni Al-Dor, President and CEO at Sapiens. "Click-Ins has the expertise and capabilities needed to drive this transformation, making them ideal partners in our quest to provide comprehensive, customer-centric solutions."
Click-Ins computerizes vehicle inspections for a smart, digital experience, empowering carriers to detect, dissect and process vehicle damage, with the click of any digital camera. Click-Ins attempts to increase automation, reduce human blunders, misrepresentation and danger, and increase customer satisfaction.
In view of AI, deep learning, 3D demonstrating, applied mathematics and computer vision, Click-Ins empowers accurate recognition and investigation of outside damages to a wide range of vehicles. The arrangement captures and processes digital pictures of damaged vehicles and transforms them into damage reports and damage repair gauges.
"We are pleased to partner with Sapiens. The need to automate car damage detection and accelerate claim processes is vital in today's industry climate," said Eugene Greenberg, Co-Founder and CEO at Click-Ins. "The integrated solution will enable insurance companies to better serve their customers."
Sapiens CoreSuite for Property and Casualty is a profoundly coordinated, adaptable, digital contribution that combines top tier policy, charging and claims solutions into a consistent start to finish framework, giving carriers the competitive edge. Sapiens' market-driving, purpose-assembled platform is available as a full arrangement suite or as independent best of breed contributions.
Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers' compensation and financial markets. With more than 35 years of experience delivering to over 600 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements.
Founded with the aim of simplifying vehicle inspection, Click-Ins introduces AI-driven automated technology that completely redefines its category. Helping insurance and car companies transition from manual procedures to fast and efficient fact-based processes, Click-Ins provides a user experience that is both simpler and more reliable, for all parties involved.
To achieve the highest level of transparency and certainty, Click-Ins has developed a hybrid approach to AI. Using proprietary simulated data to pretrain AI modules, and leveraging multidisciplinary technologies, Click-Ins SaaS cloud solution accurately and consistently recognizes any damage, with no training period.
iCover | September 13, 2021
iCover, a Missouri-based Insurtech that provides an algorithmic underwriting Platform as a Service (paas) for life insurance companies, raised an undisclosed amount in seed funding. The company intends to use the funds raised to expand insurance distribution through a direct-to-consumer offering, increase technical staff and expand sales and marketing efforts.
iCover also announced a multi-year partnership with KSKJ Life, headquartered in Joliet, IL, that allows iCover to onboard KSKJ Life's full suite of products which includes Final Expense, Term Life, Whole Life and Annuities on the platform to digitize their new business processes.
"We are excited about the partnership we have established with the iCover team. The experience and expertise that they offer, from the platform to business development, support our growth strategies and commitment to provide excellent service to our members and agents." (Tony Mravle, CEO for KSKJ Life)
"KSKJ Life is an ideal partner for iCover, they have an innovative mindset, agile approach to delivery and the suite of products that could help enhance the iCover platform." (Hari Srinivasan, CEO for iCover)
iCover is a cloud-based algorithmic underwriting platform that helps insurers sell to the middle market. By leveraging data and predictive analytics iCover can quote, underwrite, and deliver life insurance in under 5 minutes. iCover was built by industry insiders Hari Srinivasan and Nicole Mwesigwa who applied their 30+ years of InsurTech experience and intimate knowledge of automated underwriting technologies.
About KSKJ Life
KSKJ Life is a Christian, community-focused life insurance company that has provided financial security to its members and their families for over 127 years. Licensed to do business in 19 states across the US, KSKJ Life has experienced tremendous financial growth over the past decade reaching over $551 million in assets. Founded in Joliet, Illinois, KSKJ Life offers competitive life insurance and retirement products, premier personalized service and meaningful member benefits and programs, with over 50,000 members nationwide. As a not-for-profit organization, KSKJ Life makes a difference by reinvesting back into local communities and is dedicated to continuing its mission by helping families achieve financial security through the introduction of new products, increased technology and expansion of distribution channels.