Regulator decreases Progressive auto insurance rate in Louisiana

insurancebusinessmag | June 17, 2019

Progressive Security Insurances submission to decrease its auto insurance rates in Louisiana has been approved by the states insurance commissioner.Jim Donelon, insurance commissioner of Louisiana, said that drivers in the state will see a decrease of 2.2% on auto insurance policies offered by Progressive starting September. According to the states Department of Insurance, Progressive is Louisiana’s second-largest auto insurer with approximately 175,000 policyholders.

Spotlight

Information and communications technology (ICT) has transformed nearly every aspect of modern life, from banking to travel to commerce. The healthcare sector has been slower to take advantage of the benefits of these new technologies. Recently, however, global stimulus funding has accelerated the use of Health IT in many parts of the world. Nations around the globe have shown encouraging progress that demonstrates how the effective use of ICT in healthcare can improve access to and quality of care, reduce costs, and improve satisfaction among both patients and providers. These success stories can help build momentum for the use of integrated data to improve healthcare worldwide.

Spotlight

Information and communications technology (ICT) has transformed nearly every aspect of modern life, from banking to travel to commerce. The healthcare sector has been slower to take advantage of the benefits of these new technologies. Recently, however, global stimulus funding has accelerated the use of Health IT in many parts of the world. Nations around the globe have shown encouraging progress that demonstrates how the effective use of ICT in healthcare can improve access to and quality of care, reduce costs, and improve satisfaction among both patients and providers. These success stories can help build momentum for the use of integrated data to improve healthcare worldwide.

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INSURANCE TECHNOLOGY

ProSight Selects Cenata SURE for Its Outwards Reinsurance Management Solution

ProSight Global, Inc. | August 23, 2021

ProSight Global, Inc., a domestic specialty insurance holding company, today announced their agreement with Cenata Limited ("Cenata"), a leading insurtech software provider, to use Cenata's uniquely capable outwards reinsurance solution, Cenata SURE. Cenata SURE is a full cycle outwards reinsurance management solution, able to take and process real time premium and claims data from multiple inwards systems to provide real-time analysis irrespective of the complexity of a reinsurance program. Cenata SURE caters for all forms of reinsurance contracts, and as a true cloud deployment, has unlimited performance capability regardless of data volumes, and complexity of company structure. With Outwards Reinsurance data touching every part of the business, Cenata SURE will be the cornerstone of a fully integrated ProSight technology eco-system. "We identified Ceded Reinsurance as a 'process critical' part of our business data flow, and having undertaken a detailed review of comparable offerings, Cenata SURE provides all of the business functionality identified for both our current and future needs. The granularity of the data will provide our business with unparalleled analytical insights into our Reinsurance purchasing, provide incredible value to our Reinsurance partners, and be an intricate component of our future strategy. Equally important is that it is built on a truly modern SaaS Cloud stack and compliments our technology roadmap, which when combined with the comprehensive functionality will deliver the necessary competitive commercial edge ProSight desires. The Cenata team is exceptional, which was a significant selection decision driver. They (Cenata) have successfully delivered every implementation they have worked on and have unparalleled knowledge of the ceded reinsurance sector. We have every confidence in them and enjoy working with them as they are true partners", comments Mike Sciole, Chief Operating Officer at ProSight. Cenata's Managing Director, Nick Freer, adds "We are extremely excited to be working with ProSight. We respect and admire their passion as innovators and visionaries for the insurance industry. Their vision for how technology can deliver a commercial competitive edge seamlessly aligns itself with our goals for Cenata SURE. ProSight wants to set a pace that their competitors cannot sustain, and we are 100% supportive of that strategy." About ProSight Global, Inc. Founded in 2009 and headquartered in Morristown, New Jersey, ProSight is a specialty property and casualty insurance holding company, providing a wide range of property and liability solutions to customers across the United States. ProSight 's insurance company subsidiaries are rated "A-" (Excellent) by A.M. Best. To learn more about ProSight. About Cenata Limited Cenata is a niche technology provider, utilizing its deep subject matter expertise and industry experience to transform the insurance industry. Cenata SURE, Cenata's outwards reinsurance software solution, delivers unmatched functionality and seamless integration, all built on leading-edge technological efficiencies.

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Greater Than Collaborates with MSIG Global Digital Hub

Cision PR Newswire | October 08, 2020

Greater Than, the insurtech provider of AI-based risk intelligence, has today entered a collaboration with MSIG Global Digital Hub and MSIG Vietnam, part of MS&AD Insurance Group, and Asia's leading insurance provider. Through the partnership, Greater Than will provide MSIG Vietnam, with AI-based driving analytics attached to an app-based loyalty service to be launched for MSIG Vietnam's auto insurance customers in the fall of 2020. The customer-centric offering will promote insurance holders that drive safe. The new offering is a step in the direction of MSIG to offer digital products creating an enhanced customer experience. Through Greater Than's AI-based risk analysis and loyalty program, the car insurance provider will be able to identify risk groups to calculate existing and future real-time damage costs and new ways to directly rewarding customers who drive safely.

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LIFE INSURANCE

ApplicInt Partners With SBLI to Digitize the Life Insurance Application Process Using U*Complete

ApplicInt, SBLI | January 14, 2021

ApplicInt, an industry chief with their suite of insurance application fulfillment solutions, as of late drove endeavors to digitize the Life Insurance application measure for Savings Bank Life Insurance Company (SBLI), situated in Woburn, Massachusetts. In a Pilot, SBLI successfully executed ApplicInt's U*Complete platform for clients to self-complete Life Insurance applications, which is consistently incorporated into SBLI's fulfillment cycle. SBLI is getting ready for a full production rollout of U*Complete in the second quarter of this current year (2021). "We are very excited about our partnership with ApplicInt and the opportunity to use UComplete in innovative ways to help our clients," said Rose Conneely, COO, SBLI. "Our focus is to simplify the application process for agents and their clients alike, and our 100% digital Self-complete Application Process Pilot has demonstrated very positive results. We look forward to rolling it out to the market." "Our goal is to make the application process as simple and convenient as possible, and via our partnership with ApplicInt, we have piloted an easy-to-use 100% digital process for clients to self-complete their application, while automatically providing agents and their clients 'status alerts'," said Rose Conneely, COO, SBLI. "We are planning to roll-out this new option in mid-2021." ApplicInt's U*Complete has two work process self-administration models: "Transporter Direct to Consumer" and "Specialist Direct to Customer". In the Carrier Direct to Consumer measure, the consumer has a secure login to the Carrier's Website. The consumer picks a face amount/term product and runs a quote. They at that point complete a Part A Life Insurance Application, with the Part B clinical questions being discretionary relying upon the transporter's fulfillment cycle. The consumer then eSigns Forms. There is constant visit accessible when required or a warm exchange to a call community to schedule a test if necessary. Structures and information are shipped off the transporter in great request. The Agent Direct to Consumer model is basically indistinguishable, then again, actually the Agent starts the fulfillment cycle and the consumer can audit quotes from various transporters. Mike Feroah Sr., Founder and Chief Strategy Officer of ApplicInt stated, "We are overly excited about the extension of our technology that allows a common platform to be used by consumers, call centers and examiners to provide part A or part B application information to carriers. U*Complete also can be integrated with automated underwriting platforms for deep instant decisioning. And if you have existing ApplicInt software, it can be converted to U*Complete in a matter of weeks. U*Complete provides better a customer experience with enormous cost and efficiency savings." About ApplicInt ApplicInt, a leading information technology company, has developed several innovative, interoperable solutions that can be customized to meet the unique requirements of each client. ApplicInt was founded in 2003 to provide efficient and cost-effective technology solutions for the collection and distribution of information for life insurance applications. Automating the broker's world not only means digitalizing their offices but, more importantly, streamlining and simplifying the process of obtaining insurance.

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