INSURANCE TECHNOLOGY

Moody’s Analytics Launches Asset-Liability Management Tool For Insurance Investment

Moody’s Analytics | November 25, 2021

Moody News
Moody’s Analytics is pleased to announce the launch of RiskIntegrity™ Investment Insight, an asset-liability management (ALM) solution for insurance companies. The new tool combines data and modeling capabilities from across Moody’s Analytics to help insurers to build liability-aware investment portfolios and better evaluate their investment strategies across a range of business metrics.

Insurance companies face a variety of challenges in managing their organization’s investment strategy including understanding the impact of alternative asset classes, reducing the operational risk of maintaining complex data and models, and adapting to regulatory change. Available as a software-as-a-service (SaaS) solution, RiskIntegrity Investment Insight helps insurers’ ALM and investment teams address these challenges by bringing Moody’s Analytics core content and models to life to deliver user-friendly analytics and reports on demand.

“Insurers are looking for control and visibility of the economic assumptions and scenarios embedded in their investment process. They need to be able to quickly assess the impact of investment decisions across a range of business metrics – economic, capital, and liquidity. RiskIntegrity Investment Insight will help insurers to perform strategic asset allocation, make better investment decisions, and take more control of their investment process,”

- Phil Mowbray, Senior Director at Moody’s Analytics.

Using the tool, ALM and investment teams can develop new investment strategies to enhance risk-adjusted returns, and apply filters or constraints to align with their specific objectives and risk profiles.

RiskIntegrity Investment Insight is part of Moody’s Analytics suite of award-winning solutions designed to help insurers manage current and emerging risks, and make better integrated risk decisions. Moody’s Analytics insurance solutions include the RiskIntegrity™ for IFRS 17 solution, our AXIS™ actuarial system, and Climate Pathway Scenario Service.

About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs.

Spotlight

Insurance carriers have invested a great deal in digital capabilities in recent years. While these initiatives reflect a genuine need to be more efficient and profitable, it can be difficult for management to maintain a clear perspective on strategy in the face of what amounts to generational change. Accordingly, whether you’re embarking on a digital transformation or just making targeted improvements, there are a few important things to keep in mind.

Spotlight

Insurance carriers have invested a great deal in digital capabilities in recent years. While these initiatives reflect a genuine need to be more efficient and profitable, it can be difficult for management to maintain a clear perspective on strategy in the face of what amounts to generational change. Accordingly, whether you’re embarking on a digital transformation or just making targeted improvements, there are a few important things to keep in mind.

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CORE INSURANCE

Sensely Announces Partnership with Krungthai-AXA Life Insurance

Krungthai-AXA Life Insurance | December 28, 2021

Virtual assistant pioneer Sensely announced a strategic partnership with Krungthai-AXA Life Insurance, a Thailand-based carrier providing health insurance to approximately 500,000 members. Under the partnership, Krungthai-AXA Life has integrated Sensely's technology and health solutions into its recently launched Emma by AXA application, a powerful all-in-one digital solution which offers policyholders instant access to a range of convenient healthcare services and policy information in one application. Emma by AXA includes the evidence-based Sensely Symptom Checker, which highlights Sensely's groundbreaking conversational AI interface, which utilizes a combination of voice, chat, and avatar-based interaction. To start with, users enter their symptoms by conversing with the Sensely avatar. In just a few minutes, users receive a recommendation for the appropriate level of care and information on where to go next. Fast, reliable, and available in both the English and Thai languages, the Sensely Symptom Checker provides Krungthai-AXA Life members with quality information and valuable peace of mind. In addition to the Symptom Checker, Emma by AXA also includes a wide range of other service options: including telehealth, network directory location information, health content, and policy information services, such as electronic insurance cards. "Providing enhanced access to world-class health services creates immediate value for our members, The Emma platform offers a full spectrum of tools and services to enhance health and wellness, helping members to live their best lives, while being delivered with a modern customer experience that leads the industry. Partnering with Sensely helps accelerate our efforts, and we look forward to broadening and deepening the relationship." -Pakawipa Charoentra, Chief Customer Officer of Krungthai-AXA Life. "We've been impressed by the AXA team's commitment to being their policyholders' go-to resource for accessing and navigating healthcare services in a friendly and helpful manner, with digital services playing a leading role, Enabling easy, user-friendly access to trusted health information has never been more important, and we're looking forward to continuing to work with Krungthai-AXA Life to drive increasing member value over time." -Adam Odessky, CEO and Co-founder of Sensely. About Sensely Sensely's avatar and chatbot-based platforms assist insurance plan members and patients with the insurance services and healthcare resources they need, when they need it. With offices in San Francisco, London, Kiev, Manila, and Tokyo, Sensely's global teams provide virtual assistant solutions to insurance companies, hospital systems, and pharmaceutical clients worldwide. About Krungthai-AXA Life Insurance Established in 2007, Krungthai-AXA Life Insurance Public Company Limited (KTAXA) is a partnership between Krungthai Bank PCL., and the AXA Group. Today, Krungthai-AXA Life Insurance Public Company Limited is a fast-growing Life Insurance Company with a new brand promise "Know You Can" which encourages our customers to have self-belief and positions the company as a life partner that aims "to empower people to live a better life."

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INSURANCE TECHNOLOGY

OWIT Global Releases Advanced Version of Bordereaux Management Solution

OWIT Global | December 02, 2020

OWIT Global, a provider of insurance-specific microservices solutions for the global insurance industry, declares a serious arrival of their Bordereaux Management Solution. The new delivery grows insurance-specific business rules, furthers usefulness to help approaching and active data takes care of, and contains extra pre-characterized execution dashboards. The Bordereaux Management Solution fathoms the insurance business' need to automate bordereaux preparing for MGAs, Carriers, and Brokers. “We continue to advance our solution with input from our existing customers. For the carrier, we support complex data sets from multiple formats, such as excel spreadsheets with multiple cross-referenced tabs and delimited/fixed-length file formats. For our MGAs, we support extraction and mapping of the data from multiple databases to various carrier contract formats,” said Wendy Aarons-Corman, Chief Executive Officer of OWIT Global. “Our solution also has an analytics service built-in, providing our customers with operational dashboards to evaluate the data running through the solution.” The OWIT Global Bordereaux Management Solution is a no-code, configurable climate, giving the intensity of onboarding and overseeing bordereaux data streams to the business client. Data is burned-through, scrubbed, and changed into an ideal yield record. Rules and outsider calls to approve data is likewise upheld. “Our customers are experiencing an immediate ROI. The time to configure and test has a dramatic reduction compared to the traditional model,” Aarons-Corman continued. “We encourage the industry to take some time to investigate our solution. There is a huge advantage in leveraging an insurance-specific solution that is continually advancing with input from other insurers. It is a great opportunity to get a feature-rich solution at a reasonable cost.” About OWIT GLOBAL OWIT is a global insurance technology provider offering solutions built on a modern architecture designed to simplify innovation and integrate with existing customer environments to maximize their investments. The OWIT portfolio is comprised of discrete, value-add insurance-based microservices for Bordereaux, Rules, Rating, Portal Configuration, A&H, and Specialty Point of Sale and Document Generation with future capability to tailor a full suite of Policy Administration System (PAS) microservices. The company's offerings can be deployed standalone or integrated with an insurer’s existing environment. OWIT's architecture is also designed to support emerging technologies and functionality, such as blockchain and IoT.

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INSURANCE TECHNOLOGY

Witness the Finest Amalgamation: G2 Insurance Services Joins Relation Insurance Services

G2 | June 21, 2022

Bringing Nation’s leading independent insurance brokerage firms to Relation, transaction will expand national footprint and areas of expertise. Relation Insurance Services, one of the nation's largest and fastest-growing insurance agencies, announced today the acquisition of the assets of G2 Insurance Services, LLC ("G2"). Procuring an established, high-growth insurance brokerage firm expands Relation's growing national footprint and areas of expertise. The transaction became effective on June 1, 2022, and the terms were not disclosed. Adding G2 Insurance to the Relation team will bring together a potent combination of forward-thinking people and best-in-class products and services to what is already one of the nation’s fastest-growing insurance platforms, G2 Insurance’s commitment to client service, expertise, and innovation fits seamlessly with Relation’s mission and culture.” Joe Tatum, CEO of Relation. G2 Insurance was founded in 2012, by Matthew and Jason Goldman to provide the best in insurance, technology, and client service. The firm has established itself as an industry leader in several areas, including non-profit organizations, high-net-worth individuals, family offices and wealth advisory, commercial real estate, equine, and agribusiness. The new partnership will foster Relation and G2's collective growth while providing a more robust service platform for its clients. The entire G2 team has merged with Relation and will continue to provide clients with the same high-quality service. Bob Zenoni will remain President and COO of G2 Insurance, a Relationship Company, while Matthew and Jason Goldman will drive growth and strategy. About Relation Insurance Company Relation Insurance Services is a nationwide insurance brokerage that provides superior risk management and benefits consulting services. According to Insurance Journal, it is one of the top 35 most prominent agencies in the country in terms of revenue, with approximately 1,200employees spread across more than 125 locations. Relation is a privately held company backed by Aquiline Capital Partners, a private equity firm based in New York and London that invests in financial services and technology companies worldwide.

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