Core Insurance, Insurance Technology
PR Newswire | August 25, 2023
Careington Benefit Solutions, affiliate of Careington International Corporation, announces the expansion of its service offerings to now include customizable commercial lines for property and casualty insurance. Backed by more than 40 years of industry experience, Careington Benefit Solutions is a single-source solution for insurance, administrative and marketing solutions.
As a nationally licensed insurance agency and Third Party Administrator, Careington Benefit Solutions wanted to broaden its existing suite of insurance products to include business and commercial coverages including liability, business property, workers compensation, commercial automobile, cyber security and more. This new program is designed to provide businesses with a custom, industry-specific risk management solution. With a wide variety of carriers and products to choose from, Careington Benefit Solutions' High Performance Sales Unit consists of nationally licensed Life & Health and Property & Casualty agents that can help clients shop coverage options, get cost-free quotes and enroll in a commercial line insurance policy that is tailored to the specific needs of small employers.
"We are proud to expand our property and casualty coverage options to include commercial lines," said Chuck Misasi, Executive Vice President of Direct Marketing and Customer Engagement at Careington Benefit Solutions. "After successfully providing protection to individuals and their families with our personal lines coverage options, we recognized that we could bring the same white-glove approach to businesses to address their unique financial risks. With this new program, we're offering customized risk management solutions to businesses across a wide variety of industries."
Beyond commercial lines insurance, Careington Benefit Solutions offers a robust suite of insurance products, as well as 150+ money-saving health, wellness, lifestyle and virtual health products. Careington Benefit Solutions partners with industry-leading carriers nationwide to offer a range of innovative, competitive solutions. As a TPA, Careington Benefit Solutions is a single-source solution that expertly manages licensed enrollment, billing, claims processing, customer service, policy fulfillment, custom product development and more. Careington Benefit Solutions serves employers of any size or industry, carriers, Medicare Advantage companies, TPAs, associations, unions, affinity groups, municipalities, school districts, colleges and universities, dental support organizations and brokers and benefits consultants.
"Careington Benefit Solutions is dedicated to delivering competitive insurance product options and full-scale administrative services to our diverse clients nationally," said Careington Benefit Solutions Chief Executive Officer Stewart Sweda. "We are always looking to enhance our product and service offerings, and we are pleased to now be able to connect small employers with the coverage they need to protect their businesses against potential financial damages."
About Careington Benefit Solutions
Careington Benefit Solutions, an affiliate of Careington International Corporation, is a nationally licensed insurance agency and Third Party Administrator that provides a range of competitive insurance product options and comprehensive suite of administration services, including claims administration, individual and group billing, premium collection, enrollment, policy fulfillment, custom product manufacturing and more to support our many diverse clients, including large insurance companies. Our flexibility in the level of administrative support we provide allows us to customize any client solution as an a-la-carte scenario or a complete turnkey option as a single-source product, service and administrative solution. Careington Benefit Solutions includes a direct-to-consumer brand, QuoteSavant, created to help consumers navigate the complex process of buying insurance. Our licensed agents shop top plans and provide quotes to help individuals find coverage to fit their budgets. To learn more about QuoteSavant's personalized policy shopping process, visit www.quotesavant.com.
PR Newswire | September 14, 2023
Cowbell, a leading provider of cyber insurance for small- and medium-sized enterprises (SMEs), today announced its partnership with Zywave, an industry-leading provider of insurtech solutions. The partnership is powered by Herald, a digital infrastructure provider that connects software developers to commercial insurance carriers through a single API, and leverages Cowbell's leading technology and individualized coverage options for a superior customer experience through Zywave's expanding, simple and efficient, API-first interface for quoting commercial and E&S insurance. The collaboration marks the first standalone cyber insurance offering on Zywave's Hub, which provides MGAs, wholesale brokers, and retailers, with quicker access to modernized cyber insurance products.
Despite cyber being the fastest-growing line of insurance business in recent history, four out of five SMEs are still uninsured or underinsured, according to a recent report published by the small business resource AdvisorSmith. By partnering with Zywave, Cowbell extends its reach within MGAs and brokers and helps further accelerate the adoption of cyber insurance within the SME market.
"As the first cyber insurance provider on Zywave's Hub via Herald's API, our adaptive programs are now available to over 40 additional trading partners," said Rajeev Gupta, co-founder and CPO of Cowbell. "These partners can now experience the simplicity of placing the industry's best cyber insurance coverage for their clients and protecting their clients' future cyber risks with Cowbell's tailored risk mitigation service."
"This is an exceptionally powerful partnership between the most innovative leaders in the industry," said Duncan Crystal, co-founder and CRO at Herald. "Together, we're proving how API-driven distribution can transform an industry that has traditionally run on paper. Our unified offering makes it easier for carrier partners to plug into networks of brokerages and MGAs, resulting in more premium for all players in the value chain, along with better coverage for businesses."
The ability to adapt to ever-changing market conditions in almost real-time allows capacity providers like Cowbell to expand or contract the markets they serve without being hindered by manual processes and antiquated technology. Expanding Zywave's offerings through Cowbell's advanced technology and quality insurance programs ushers in a new and improved way for brokers to sell cyber insurance to their clients.
Cowbell is a pioneer of Adaptive Cyber Insurance, a leader in providing small and medium-sized enterprises (SMEs) coverage adaptable to today's and tomorrow's threats and the advanced warning of cyber risk exposures. In its unique AI-based approach in risk selection and pricing, Cowbell's continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue in less than 5 minutes. Cowbell is backed by 20 prominent leading global (re)insurance partners and serves SMEs in 50 U.S. states, the District of Columbia and the United Kingdom. Founded in 2019, Cowbell is based in the San Francisco Bay Area with employees across the U.S., Canada, India, and the U.K. For more information, please visit https://cowbell.insure/.
Herald builds digital infrastructure for commercial insurance. Developers who use Herald quote and bind insurance from multiple carriers through a single API. For more information, visit https://heraldapi.com.
Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content, and analytics solutions. Zywave's all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals—their own Modern RevOps Machine. More than 15,000 insurers, agencies, and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management, and safety. Additional information can be found at www.zywave.com.
PR Newswire | September 28, 2023
Expert.ai unveiled today its "Enterprise Language Model for Insurance" – ELMI, a cutting-edge innovation in domain trained language models, set to help insurers reach their process automation and digital transformation goals with the highest accuracy. By simplifying and powering the interaction with language data within the expert.ai Platform for Insurance, Insurers can access solutions that scale and take advantage of deep insurance domain expertise combined with the best and most cost-effective attributes of Large Language Models (LLMs) to automate core processes.
Through the expert.ai Platform for Insurance, ELMI supports key capabilities, including:
Generative Summarization: generate accurate summaries, condensing vast amounts of claim or policy information into concise insights, saving time and accelerating straight through processing or human review activities.
Zero Shot Extraction: extract crucial insurance data from structured/unstructured, handwritten/typed, good quality/bad quality sources with accuracy and automatically normalize output formats and add medical annotations such as ICD 9/10 medical codes.
Generative Q&A: answer questions quickly so underwriters and claims handlers can extract meaningful insights from proprietary case files by asking questions using natural language queries.
Walt Mayo, expert.ai CEO, said: "Delivering on our commitment to innovation and higher level of efficiencies in the insurance sector, ELMI sets a new standard for AI-driven language solutions. As part of the expert.ai Platform for Insurance, ELMI equips insurers with the generative AI tools they need to automate the complex landscape of language-driven processes, while also offering substantial cost savings."
Unlike general knowledge large language models, ELMI is:
Trained for Insurance: Eliminating the cost and complexity of training language models, ELMI is engineered with a deep understanding of the insurance domain, providing insurers with generative AI capability ready to tackle underwriting and claims processing challenges.
Built for the real-world: ELMI is integrated into expert.ai end-to-end insurance solutions to meet the practical challenges of AI at scale across insurance workflows from underwriting to claims. Expert.ai purpose-built approach addresses critical shortcomings of general-purpose language models and brings the power of generative AI to improve accuracy and reduce costs.
Cost Optimized: When compared to hosted token-based models, ELMI offers a more cost-effective solution, reducing expenses related to usage, hosting, running, and maintenance, while still delivering superior performance and accuracy.
Secure and Compliant: ELMI is designed to ensure compliance with the most stringent governance standards and does not share sensitive insurance data.
Cloud-agnostic: Offering the flexibility to deploy on any cloud infrastructure or on-premises, ELMI deployments easily meet insurer's varying requirements.
For inquiries, demonstrations, or more information about ELMI, please request a demo.
Expert.ai is the leading enterprise AI company solving complex language challenges. Our solutions deliver key information for publishers, streamline operations for insurers, drive revelations for pharmaceutical giants, and enhance customer interactions within financial services – all while automating traditional labor-intensive methods. By combining deep domain expertise with the finest attributes of Large Language Models, Machine Learning, and Symbolic AI, we are at the leading edge of linguistic advancements in hybrid AI. With a global presence in Europe and North America, we proudly serve clients that include AXA XL, Zurich Insurance Group, Generali, Sanofi, EBSCO, The Associated Press, Bloomberg INDG, and Dow Jones. For more information, visit https://www.expert.ai/