Sentry Insurance boosts functionality of workers’ comp claims program

Insurance Business America | May 01, 2019

Sentry Insurance has enhanced the breadth and functionality of its in-house workers’ compensation claims analytics program. The expanded program now uses predictive analytics to help the company’s claims staff immediately evaluate claims data. It assesses both structured and unstructured data, from first notice of loss throughout the lifecycle of the claim. The program can also provide staff key information that could be shared with clients – employers and their employees –and could lead to savings (i.e. reduced claims costs and treatment expenses, more efficient claims resolutions, improved return-to-work timelines). “With this technology, our claims professionals will be able to instantly recognize key relationships between dozens of variables involved in each workers’ compensation claim,” explained Sentry Insurance chief claims officer Michele Dufresne in a statement. Dufresne added that the insight provided by the improved claims analytics program will be invaluable throughout the period of the claim, especially when it comes to managing severe claims.

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EvolutionIQ Executive Co-Chairs the International Claims Association's Insurance Technology and Analytics Committee

EvolutionIQ | February 28, 2022

EvolutionIQ, the most rapidly adopted Claims Guidance platform amongst insurance carriers, is pleased to announce its Chief Operations Officer & Co Founder Mike Saltzman has been named Co-Chairperson to the International Claims Association's (ICA) Insurance Technology and Analytics Committee. Together with Chairwoman Wendy Berndt, Mike will facilitate technology discussions with members and industry thought leaders to address the major topics and challenges facing today's claim executives. Mike's appointment comes as EvolutionIQ leads claims the industry's transition to leveraging claim guidance platforms for complex claims, delivering enhanced financial results and claimant satisfaction. "I'm thrilled to join the ICA's Insurance Technology and Analytics Committee, especially at this moment when the industry is realizing the benefits of predictive technologies to benefit staff, claimants, and the bottom line, The ICA has always been at the forefront of best practice in claim handling, and I'm excited to help build our thesis on how technology, guidance and predictive processes should be used in tandem with skilled adjusters and staff members to arrive at fair, accurate and timely claim adjudication." -Chief Operations Officer & Co Founder Mike Saltzman Before founding EvolutionIQ, Mike spent years as an investor focused on insurance companies at Bridgewater Associates, the world's largest hedge fund. He became an expert on the effects of claims on carriers' financial results, as well as seeing the power of algorithmic strategies on Bridgewater's own processes. Mike then received his MBA at Stanford University. EvolutionIQ was started while Mike was at Stanford and his Co-Founder, Tom Vykruta, was completing a near decade-long tenure at Google, where he was a Machine Learning leader across several marquis Google products. "Our organization is pleased Mike Saltzman has agreed to join the Insurance Technology and Analytics Committee as Co-Chairman, There is no shortage of issues confronting the claims insurance sector, and with Mike's many years of combined experience and extensive expertise in the insurance space, we strongly believe that he will provide high-caliber discussions and learnings to our community." -Christopher Murphy, Executive Director, International Claim Association. On the committee, Mike will be leading educational efforts, virtual seminars, and the creation of best practice guides for the industry to use in their transformation processes. The committee will also lead in-person educational sessions for claims leaders at their annual conferences. The first session was held on February 23rd at 2 PM ET, a virtual panel discussion titled "How Claims Guidance is Turning Examiners into Superheroes" with three industry leading claims executives from Reliance Standard Life Insurance, Principal Financial Group & Disability RMS. About EvolutionIQ EvolutionIQ is the leading provider of claims guidance software. Its software combines the predictive power of historical claims analysis with unstructured claimant data and third party information to automatically identify high-opportunity claims. Insurers choose EvolutionIQ to increase their profitability and control over complex lines of business by integrating decision intelligence into every step of the claims handling process. About ICA ICA is the largest organization of claims professionals in the life and health insurance industry. Its specialties include life, accident, health/medical, disability, workers' compensation, and fraud. ICA members include insurance companies and claims professionals from around the world.

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Attune Partners with Hiscox to Offer General and Professional Liability Products

Attune, Hiscox | January 25, 2021

Attune Insurance Services has declared the dispatch of new broad risk and expert obligation items, with Hiscox filling in as the transporter. The organization adds in excess of 180 new classes and two conceded items to Attune's foundation. “We are removing the friction from small business insurance by enabling brokers to serve their small business customers in minutes,” said James Hobson, CEO of Attune. “We are excited to partner with Hiscox, a company that combines innovation with a leading, specialist approach, to provide our brokers with even more opportunities to grow their businesses.” Under the partnership, all intermediaries with admittance to Attune's platform will have the option to cite and issue general risk and professional liability products, in addition to business owners, workers’ compensation, and commercial excess liability policies. “In the COVID era, the trend of small businesses adopting digital trading is only accelerating,” said Kevin Kerridge, executive vice president for small commercial at Hiscox USA. “Attune is at the heart of that shift, and we’re thrilled that brokers will be able to access Hiscox products through their platform, aided by our investment in integration technology. We share a cultural and strategic alignment with Attune, which promises a solid foundation for a successful partnership.” Attune said that in addition to improving its technology platform, it will likewise keep adding items, extending its craving, and upgrading its client experience consistently.

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Betterfly and Chubb Announce Alliance to Offer Wellbeing, Insurance, and Social Impact Solutions across Latin America

Betterfly | December 06, 2021

Chubb, the world's largest publicly traded property and casualty insurer, announced its most recent digital alliance with Betterfly, a Latin America digital benefits platform used by companies to encourage employees' commitments to self-care. The platform rewards healthy habits with charitable donations and life insurance protection that grows at no cost based on lifestyle choices that foster physical, mental, and financial wellbeing. Betterfly has developed a unique embedded insurance B2B2C model and has chosen Chubb as its preferred insurance provider for Mexico, Colombia, Ecuador, Chile, and Argentina. Chubb will make Betterfly's membership and benefits platform available to its consumer line insureds in these countries through existing distribution channels. The integration of Chubb's digital insurance into the Betterfly ecosystem uses the capabilities of Chubb Studio, Chubb's global digital product distribution platform. "We are thrilled to start working together with Chubb to bring our Betterfly Effect to every corner of Latin America. This alliance combines Chubb's global expertise in risk management, data analytics, and superior claims service with our AI-based customer behavioral science to complement our prevention, protection, and purpose solutions. This is a huge step towards scaling our platform throughout the region and to our vision of protecting the future of 100 million people by 2025," - Eduardo della Maggiora, Founder and CEO of Betterfly. "We are excited by this new digital alliance. Betterfly's wellbeing platform will convert good habits into tangible benefits, combining social purpose with financial protection, I am pleased to join efforts with Betterfly for a healthier Latin America and to provide greater access to insurance protection for people, families, and businesses." - Marcos Gunn, Senior Vice President, Chubb Group and Regional President, Latin America. Most people in Latin America do not have life insurance coverage. According to a Swiss Re Institute's Report from October 2020, the region had an estimated total mortality protection gap of US$14 trillion. Betterfly is making it easier and more affordable for individuals and companies in Latin America to access financial, insurance, and lifestyle benefits. Integrated with apps like Google Fit, Apple Health, and Strava, the platform tracks members' activities and rewards healthy habits, such as walking, exercising, sleeping, and meditation, with "Better Coins" that can be exchanged for charitable donations, lifestyle rewards, and increased life insurance coverage. Chubb's technology, analytics, and data capabilities provide its global partners and their customers with a seamless experience. These capabilities are being utilized in Latin America with partners like Betterfly and in other regions around the world, including Asia and Europe. Specifically, Chubb's global digital product distribution platform, Chubb Studio, allows business partners to quickly and easily add "white label" insurance offers to their existing digital platforms, with significant speed-to-market capabilities. Additionally, it provides a secure and scalable platform with multiple APIs to simplify the process. The platform enables Chubb's partners in retail, e-commerce, banking, fintech, airline, telecommunications, and other industries to add digital insurance options to their product and service offerings, as well as the ability for their customers to submit claims 100% digitally within their ecosystems and platforms. About Chubb Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. As an underwriting company, we assess, assume, and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris, and other locations and employs approximately 31,000 people worldwide. About Betterfly Betterfly, one of Latin America's most valuable insurtech startupi, is a leading technology company that combines wellbeing, insurance, and social purpose with a mission to help people do better, live better, and be better. The company is pioneering a new way of bringing flexible and simple financial protection to all by empowering people to help others and take care of their own mental, physical, and financial wellbeing. Betterfly is making it easier and more affordable for individuals in Latin America to access financial, insurance, and lifestyle benefits and for organizations to provide these benefits to their employees. Its fully digital benefits subscription gives each member smart life insurance coverage. The company leverages its platform to track and rewards members' good habits with charitable donations options and life insurance coverage that grows at no cost. As a Public Benefit Corporation and Certified B-Corp, Betterfly is reimagining insurance with a purpose-driven approach that empowers members to protect their families, communities, and the environment.

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