Decision Research Corporation | November 06, 2020
Decision Research Corporation (DRC), a leading provider of enterprise software solutions for the P&C insurance industry, announced today the release of enhanced Product APIs for its RS X Rating solution. RS X Rating empowers business users and subject matter experts by allowing them to model, design and configure new insurance products using a familiar, easy-to-use Excel® interface. DRC's release of new Product APIs for RS X Rating now allows even complex and custom products to integrate effortlessly with third-party systems. By continuing to invest significantly in their development, DRC recognized the increasing value to insurers of creating custom touch points through APIs. RS X Product APIs make the development process easier, and faster, by providing all essential information needed to seamlessly integrate with RS X Rating, DRC Quote and DRC Policy. This, in turn, allows insurers and brokers to curate and enrich the experience of their customers without sacrificing the power, speed and security of DRC's processing platform.
Progressive Insurance | May 11, 2022
Volly is pleased to announce a partnership with Progressive Insurance, one of the top 15 insurance carriers for homeowners in the United States. Volly is a leading marketing and customer engagement strategy and a cutting-edge lending technology provider. New Capital Partners (NCP) is an Alabama-based private equity firm that collaborates with niche, tech-enabled service providers in the healthcare, financial, and business services sectors.
Almost every single family requires home insurance for home purchases and mortgage refinances. In case a borrower fails to provide proof of home insurance before the loan closes, it might be possible for families to get funded. Subsequently, delays like this are costly for lenders and inconvenient for borrowers.
Customers applying for a loan through Volly's Lending Solutions platform will now have access to Progressive home insurance quotes. These quotes are based on information about clients that have already entered their loan applications enclosing their public property records.
Customers will be able to purchase or use Progressive's network to compare policies and quotes from affiliated and third-party insurers. As a result of such flexibility, borrowers will experience a more cohesive and efficient digital mortgage process. Lenders will benefit from shorter funding timelines and encounter fewer closing issues.
We are thrilled to be working with such a well-known brand as Progressive. We admire the Progressive model, which perfectly complements Volly's Lending Solutions platform. This one-of-a-kind integration provides clients with insurance quotes with a single click, making it easier to close their loans with much-needed peace of mind during the lending process."
Volly CEO Jerry Halbrook.
Sapiens | July 23, 2021
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced today a collaboration with Munich Re, one of the world's leading providers of reinsurance, primary insurance, and insurance-related risk solutions, to provide technology-led consultancy and services to enable primary insurers to serve better the commercial insurance market (small and medium-sized businesses).
The commercial insurance market in the United Kingdom is one of the fastest-growing insurance sectors in the country. However, until recently, this market has been underserved, with few insurance packages suited to the segment's specific demands and expectations. Sapiens and Munich Re will collaborate with insurers to help them better target and address this market promptly. The combined solution aims to provide insurers with a modular, scalable technology refresh that allows them to tailor services to the expanding SME sector and actively participate in the post-COVID-19 recovery period.
The Sapiens/Munich Re collaboration complements the recent rise in government-backed and retail banking SME support initiatives, such as backed-loan schemes, increased infrastructure spending, tax exemptions, and restart grants, which are fueling the recovery. According to aggregated Companies House registrations, over 200,000 new companies have been established in the UK this year, with the bulk centered on retail, business services, and construction. Because of the industry's push toward digital, coverage explanation, flexible offers, verified self-selection, and how commercial insurers adapt their customer journey are all important.
About Munich Re
Munich Re is a global leader in reinsurance, primary insurance, and insurance-related risk solutions. Munich Re has exceptional, innovative strength and is a key driver of the insurance industry's digital transformation. Munich Re is one of the world's most sought-after risk partners for businesses, institutions, and private individuals because of its tailor-made solutions and close connectivity to its clients.
Sapiens International Corporation enables insurers to succeed in an ever-changing industry. Sapiens provides digital software platforms, solutions, and services to the property and casualty, life, pension and annuity, reinsurance, financial and compliance, workers' comp, and financial sectors. Sapiens has over 35 years of expertise delivering to over 600 organizations worldwide, demonstrating a proven ability to fulfill clients' core systems, data, and digital requirements.