Nationwide to launch digital platform for personal insurance

Nationwide | September 25, 2019

Nationwide has revealed that within the fourth quarter of this year, it will launch Spire – its new digital insurance platform designed to make purchasing
insurance easier for millennials. The announcement comes shortly after Nationwide launched a digital storefront for its commercial insurance customers and agents. Spire is a mobile website that allows customers to apply for auto insurance coverage by scanning their driver’s license and answering four questions: where do you park, how many miles do you drive, do you own or lease your car, and have you had more than two tickets in the past year? It was developed to address the pain points millennial consumers usually experience when buying insurance.

Spotlight

Business as usual for health insurance companies is under siege. Innovation and digital strategies can no longer be neglected.

Spotlight

Business as usual for health insurance companies is under siege. Innovation and digital strategies can no longer be neglected.

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INSURANCE TECHNOLOGY

Grange Insurance Uses Digital Tools to Improve the Claims Experience

Grange Insurance, | April 30, 2021

The insurance claims process is commonly regarded as a pivotal point in the customer experience journey. Grange Insurance has enabled next-generation policyholder interactions through the claims journey in response to changing customer expectations in the modern age. Digital updates include: • Two-way texting to enable Grange claims associates to connect with policyholders within multiple modes of communication • Electronic claims payments for faster claims resolution and payment • Proactive customer texts to keep our policyholders informed of their claim status throughout the claims process. • These improvements are part of Grange and its associate partner Integrity Insurance's dedication to engaging in new solutions to provide exceptional customer experiences. Two-way texting Grange has implemented next-generation business technology to provide claims customers with text message services. Policyholders will text pictures of their assigned insurance claims and get real-time answers to their claims questions when they need them the most. This program, which is powered by Hi Marley, an AI-based conversational service interface designed specifically for the insurance sector, needs no IT integration or app to get started. Grange saw an improvement in its already high customer loyalty scores within months of allowing two-way texting capability. Grange policyholders may connect with their adjuster in a variety of ways, including phone and email. Paying claims electronically Grange policyholders can also receive claims payments more quickly due to a secure electronic settlement system built to expedite restitution. Customers who file a home, vehicle, or business claim with Grange will choose to pay their claims electronically. Customers who use this payment method will collect their electronic payment in as little as a few hours by direct deposit to a checking or savings account, direct deposit to a debit card, or instant prepaid virtual cards. Other advantages of this new capability include the ability to easily navigate payment status in a touchless experience and reduce the chance of fraud through mailed checks. Grange allows customers to have a say in how they want to receive claims payment in the manner they find most convenient. Claims status notification Grange also offers automatic text messages, enabling policyholders to access claim status notifications on their mobile devices quicker than ever before. Grange's mission, with further updates already in the works, is to make the claims experience more manageable and less frustrating, allowing policyholders to get back on their feet as soon as possible. Policyholders do have the option of participating or not, and their choices can be changed at any time. Grange is deeply committed to protecting individuals and enterprises with exceptional service and takes tremendous interest in consumer loyalty, as shown by strong ratings from J.D. Power and positive customer feedback. The business is dedicated to keeping ahead of user preferences, attitudes, and desires to have a customized and effortless customer experience. About Grange Insurance Grange Insurance Company, with $3 billion in assets and more than $1.3 billion in annual revenue, is an insurance provider founded in 1935 and based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home, life, and business insurance protection. Life insurance is offered by Grange Life Insurance and Kansas City Life Insurance. Grange Insurance Company and its affiliates serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and Wisconsin

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INSURANCE TECHNOLOGY

Spot Insurance Partners With Ikon Pass

Spot | March 14, 2022

Today Spot (www.lifebyspot.com), the on-demand injury insurance company protecting everyone from athletes and adventurers to families at home; along with Ikon Pass, the world's premier season pass, announced a partnership to bring a new level of protection to pass holders who live an active lifestyle. As part of the partnership, Spot provides 22/23 Ikon Pass holders with access to a unique, affordable insurance policy that covers injury-related medical bills anytime they're using their pass. Spot's policy for pass holders will provide up to $25,000 toward any Ikon Pass holder's medical bills with absolutely zero deductible. Spot is fundamentally changing how people purchase health coverage across their lives. We built Spot to address the needs of an active community who lives life to the fullest, We have a passion for being outdoors and, while we'd rather be on the hill than at the office, we understand the peace of mind that comes from knowing you're protected no matter what you're doing." Matt Randall, co-founder and CEO of Spot. In addition to the personal injury coverage, Spot will also offer a pass protection policy that will refund all or part of an Ikon Pass holder's price if they are injured or unable to take advantage of their full season on the mountain. We are pleased to now offer pass holders both pass and injury coverage with Spot Insurance for the 22/23 winter season. We are always looking for ways to add benefits for pass holders, and Spot's options offer additional financial protection and peace of mind." Erik Forsell, CMO, Alterra Mountain Company. About Spot Spot partners with businesses and organizations across the active lifestyle space to cover their customers' out-of-pocket medical bills, regardless of health insurance status. Launched by a team with experience at both insurance industry giants and groundbreaking tech startups, the company provides affordable accidental injury coverage, which can be used with or without traditional health insurance. Spot is fully digital, conveniently allowing customers to sign up in just one minute for immediate coverage at any time. Partners including Telluride, USA Cycling, Chicago Triathlon (via LifeTime), USA BMX, Powder Mountain, National Collegiate Rugby, and athleteReg trust Spot to protect their communities. The company is headquartered in Austin, Texas, and has raised $17.5 million from GreatPoint Ventures, Montage Ventures, Mutual of Omaha, Silverton Partners, and MS&AD Ventures. About Ikon Pass Ikon Pass welcomes skiers and riders to a community of inspiring mountain destinations and the people who live and play among them across the Americas, Europe, Australia, New Zealand, and Japan. Brought to you by Alterra Mountain Company, the Ikon Pass unlocks adventure at iconic and unique destinations worldwide. Special offers are available at CMH Heli-Skiing & Summer Adventures, the world's largest heli-skiing and heli-accessed hiking operation.

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RISK MANAGEMENT

Applied Underwriters Sets Acquisition of Catlin Specialty Insurance Company

AXA XL | February 24, 2022

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