Lloyd's launches ground-breaking space insurance policy

Lloyd | December 04, 2019

Lloyd’s of London is going into orbit with its latest insurance launch, announcing that it will be releasing a space insurance policy with the aim of entering a growing industry that could help send its profits to the moon. The policy will be available through Lloyd’s Under the Lift Space initiative, with policies worth $25 million (£19 million) offered by 18 insurance syndicates operating out of the London insurance market. The initiative will be led by Brit and Hiscox MGA. The policies will pay out in the event of accidents like exploding rockets, in-orbit collisions or damage to components when they are being transported before a launch. The policies could also cover firms’ third party liability to any tourists who they launch into space, and could increase the level of space risk underwritten at Lloyd’s, which is currently estimated to be between £125 million ($163 million) and £150 million ($195.6 million).

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The goal of DAYS project is the creation of difference factor in the value-added chain "Investment - Insurance - Health care - biotech" with more lucrative products, and redistribution of benefits to DAYS contributors. This goal is to be achieved by incentivizing end users and health providers to enter DAYS sharing economy The best is AI driven app “I Am”, providing life management: all information one needs for health and well-being.

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The goal of DAYS project is the creation of difference factor in the value-added chain "Investment - Insurance - Health care - biotech" with more lucrative products, and redistribution of benefits to DAYS contributors. This goal is to be achieved by incentivizing end users and health providers to enter DAYS sharing economy The best is AI driven app “I Am”, providing life management: all information one needs for health and well-being.

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Vouch Launches New Business Insurance Coverages for Life Science Startups

Vouch Insurance | October 13, 2022

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New carrier partners go live on Commercial Submissions to streamline small commercial quoting

Vertafore | September 12, 2022

Vertafore®, the leader in modern insurance technology, today announced Acuity Insurance, Westfield Insurance and CNA Insurance are the latest carriers to go live on its award-winning Commercial Submissions™ platform. These additions reflect the platform's growing momentum and bring even more choice to the solution and mark a new milestone in Vertafore's vision to modernize commercial insurance for the independent agency channel. Vertafore introduced general availability for Commercial Submissions in March 2022. Nearly 800 independent agencies have since signed up to use the platform to quickly quote BOP, workers' compensation and general liability insurance from some of the nation's top carriers. Technology built for insurance professionals by insurance experts Vertafore has long been the leader in market connectivity solutions that enable agencies and carriers to speed up binding and quoting. In 2021, Vertafore facilitated more than $13 billion in real-time carrier/agency premium submissions and handled 150 million real-time transactions through its rating and connectivity solutions. The company built on this connectivity success when it set out to solve challenges of commercial insurance quoting. And since the product's launch, agencies have generated thousands of quotes across three lines of business in 40 states. The success of Commercial Submissions is the result of a dedicated, experienced Vertafore product and development teams, led by Wendy Haney and David Acker. Haney and Acker have nearly five decades of combined experience developing tools that simplify the day-to-day work of insurance professionals, with a particular focus on solutions that improve connectivity across the insurance distribution channel. "When Vertafore identifies a technology need in our marketplace, we first consider whether our customers are best served through a partnership, an acquisition, or with a Vertafore-built product, The depth of our in-house talent, our proven success with personal lines connectivity and our relationships across the distribution channel made it clear that we were in the best position to deliver a high-quality solution to streamline business insurance quoting. And our agency and carrier partners continue to validate that decision." -Amy Zupon, Vertafore CEO Industry-leading solution for commercial lines quoting Commercial Submissions delivers a game-changing experience for independent agents and the business clients they serve. The platform simplifies and automates commercial insurance by: Prefilling information from Vertafore agency management systems and third-party sources to reduce redundant, manual data entry. Connecting agencies and carriers in real-time, allowing the exchange of structured data and real-time quoting. Enabling real-time digital collaboration with clients to complete applications quickly and accurately. The solution also reflects Vertafore's ongoing, multimillion dollar investment to deliver products with a modern user experience. By building Commercial Submissions from the ground up, Vertafore has placed integration, connectivity, and design thinking at the core of the product. As a result, the solution creates a seamless experience and incorporates inclusive design principles that eliminate barriers, improve accessibility and overcome situational challenges that impede user productivity. Commercial Submissions has been recognized by the Golden Bridge Awards®, achieving Gold in the Business-to-Business Product category. The solution also landed on the SaaS Awards' shortlist for Best SaaS Newcomer and received a Silver award for the 2021 Best New Insurance Solution from the American Business Awards. About Vertafore As North America's InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most. Vertafore's solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers.

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Selective Insurance Introduces New Privacy Solution to Reduce the Risk of a Data Breach Following a Total Vehicle Loss

Selective Insurance | October 03, 2022

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