New partnership aims to optimize auto insurance claims process

insurancebusinessmag | May 31, 2019

Root Insurance, an auto insurance start-up leveraging AI to adjust risk, has partnered with global professional services firm Genpact.The partnership will focus on optimizing the efficiency of claims processing, to improve the Root customer experience and drive growth, a release said.Through the partnership, Roots claims processes can be streamlined thanks to Genpacts expertise in digital innovation. Genpact brings to the table best practices in insurance operations from its expertise and experience working with many leading carriers, allowing Root to quickly scale its business.

Spotlight

Organizations become successful outperformers when they establish a customer agenda and take specific steps to align their capabilities behind it. The customer agenda is based on a deep understanding of who the customer is and what the customer needs and values, along with how the organization can deliver value to that customer while capturing value itself.

Spotlight

Organizations become successful outperformers when they establish a customer agenda and take specific steps to align their capabilities behind it. The customer agenda is based on a deep understanding of who the customer is and what the customer needs and values, along with how the organization can deliver value to that customer while capturing value itself.

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COMPLIANCE

PPO PROFITS ACQUIRES DENTAL PERFORMANCE EXPERTS AND LAUNCHES THE RCM PROFITS DIVISION TO OFFER DENTAL CLAIMS PROCESSING

PPO Profits | December 22, 2021

PPO Profits acquires Dental Performance Experts (DPE), an elite PPO claims processing and accounts receivables firm serving PPO based dental offices nationwide (terms not disclosed). As part of the acquisition, PPO Profits launches a new division called RCM Profits (Revenue Cycle Management) led by Amy Hernandez, owner of DPE. PPO Profits joined hands with DPE to marry technology and knowledge to streamline the claims process. PPO Profits and DPE shared many clients and crossed paths many times. Often clients commented on having a one stop solution which PPO Profits is now proud to be able to deliver under one umbrella! "Dental offices should have the technological tools and the training to ensure that every claim gets paid which is what this acquisition will deliver. I continuously received rave reviews for Amy's team from existing PPO Profits clients and personally connect with her on a philosophical and strategic level about the solutions we want to provide," - Vivek Kinra, founder & CEO of PPO Profits "I am excited to be a part of such an amazing company that is dedicated to creating successful dental practices that work with PPO insurances. Our goal is to create a division that assists PPO based practices to collect all revenue produced for patients utilizing their PPO insurances so practices can focus on patient care," - Amy Hernandez, founder & CEO of DPE. RCM Profits will focus primarily on OpenDental clients to begin with and then eventually focus on the other key practice management software systems. With this acquisition, PPO Profits gets closer to its mission of providing a connected suite of services that help dental practices that accept PPO insurances to generate and collect higher revenue with same or less effort and reduced stress. About PPO Profits PPO Profits started as a fee negotiation and credentialing company. Through organic growth, affiliations, and acquisition, PPO Profits now offers: Fee negotiations and credentialing, In-office membership plan via its FFS Profits software (FFS Profits division), Revenue cycle management (RCM Profits division) that includes insurance verifications (through its sister company Verrific), claims processing, and patient collections.

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INSURANCE TECHNOLOGY

Gore Mutual Insurance Company Becomes First Canadian Insurer to Rollout Solera Qapter® Estimating Platform

Gore Mutual | October 06, 2021

Solera | Audatex (Canada), a global provider of risk and asset management software and services to the automotive, fleet, and property ecosystems, announced that Gore Mutual Insurance Company (Gore Mutual) is the first Canadian insurer to rollout Qapter Estimating, Solera's revolutionary AI-based estimating platform. Joining insurance companies around the world, Gore Mutual is the first Canadian insurer to utilize Qapter to assess vehicle damage for improved customer service. Qapter is the Solera | Audatex (Canada) next-generation browser-agnostic estimating and total loss workflow platform for staff, repair shops, and independent appraisers. At its core, Qapter allows stakeholders to perform their jobs more efficiently, with an intuitive user-interface designed for the needs of modern repair and claims operations. Qapter drives huge efficiency gains for our customers already using it around the world, Those efficiency gains are mostly due to the accuracy of the estimate from quality data. Like other companies using Qapter, we know Gore Mutual and its collision repair partners are keenly focused on and desire both accuracy and efficiency. We are delighted to deliver them both. - Michel Caron, vice president of sales, Solera | Audatex (Canada). About Gore Mutual Built on a foundation of financial strength for more than 180 years, Gore Mutual Insurance Company is one of Canada's first property and casualty insurance companies. Based in Cambridge, Ontario, we are a Canadian mutual company, with more than 500 employees focused on delivering outstanding insurance products and services to customers. In 2019, we launched our Next Horizon strategy—a 10-year plan—to transform Gore Mutual from a mid-size regional carrier to a national-scale insurer with over $20 million invested in talent and technology. We continue to strengthen Canadian communities through the Gore Mutual Foundation. Over the past 22 years, we have donated more than $10 million to over 790 charities. About Solera Solera is a leading global data intelligence and technology solutions provider serving the vehicle lifecycle ecosystem. Through four lines of business - vehicle claims, vehicle repairs, vehicle solutions and fleet - Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, Dealersocket, Omnitracs, eDriving, Explore, cap hpi, Autodata, and others. Solera's innovative solutions empower smarter decision-making through software, enriched data, proprietary algorithms, and artificial intelligence that come together to deliver insights to our customers and accelerate business outcomes. Solera serves over 235,000 global customers and partners in 100+ countries.

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INSURANCE TECHNOLOGY

Agentero Partners with Digital Insurance Carriers

Agentero | December 03, 2020

Agentero, a tech-enabled insurance aggregator, announced that it has integrated with five leading digital carriers and partners, including Openly, Clearcover, Cover, Haven Life Insurance Agency and Aon Edge to provide tech-enabled market access for independent insurance agents on its platform. Agentero's platform combines market access to digital carriers with data-driven technology that proactively identifies the needs of policyholders, matches them to the best products and streamlines the selling process for agents. Founded in 2017, the company raised a $10 million seed round of funding led by Foundation Capital and Union Square Ventures in early 2020. Today it works with more than 500 independent agencies and is growing rapidly. Through its network of insurance carriers, Agentero provides access to homeowners, auto, flood, and life insurance, and is continually adding tech-forward carriers to help agents meet the needs of the modern consumer. "Agents, which today sell more than 50% of P&C and life insurance in the US, are the present and future of insurance distribution, helping consumers select the right coverage for their risks. At the same time, most consumers are seeking a highly customized, digital buying experience. Our vision is to create a smarter, more intuitive insurance ecosystem that is built on strengthening agents' ability to compete in the digital market by giving them best-in-class data-driven technology combined with direct access to today's most innovative leading digital carriers," said Luis Pino, CEO of Agentero. "Openly's value proposition to independent agents is a transparent and efficient platform that provides agents' customers with superior and comprehensive coverages," said Matt Wielbut, Openly CTO and co-founder. "Partnering with Agentero brings together two teams that are focusing on revolutionizing the insurance purchasing process by aligning cutting-edge technology and superior products. About Agentero With more than 500 insurance agencies, Agentero uses robust data and analytics enabling agents to proactively offer insurance choices to customers at the right time, every time, mitigating risks for consumers while growing relationships and revenue for agents. Founder and CEO Luis Pino was the first employee at insurtech CoverWallet, and has also worked for McKinsey & Co. The company is backed by Foundation Capital, Union Square Ventures in addition to other investors.

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