UnitedHealth's earnings projection falls short of analysts' estimates

UnitedHealth | December 03, 2019

Major health insurer UnitedHealth Group has revealed its adjusted earnings forecast for 2020 – but the midpoint estimate fell short of analysts’ projections. The company revealed that it expects 2020 earnings between $16.25 and $16.55 per share. By comparison, analysts pegged UnitedHealth’s earnings around $16.46 per share, according to data from Refinitiv. UnitedHealth remains positive that its expected revenue next year will run from $260 billion to $262 billion, above Wall Street’s expectations of $260.81 billion, Reuters reported.

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Fibromyalgia (fi·bro·my·al·gi·a) is a condition that causes pain all over the body (also referred to as widespread pain), sleep problems, fatigue, and often emotional and mental distress. -Centers for Disease Control and Prevention. Called abnormal pain perception processing, people with fibromyalgia experience pain differently and are more sensitive to it.

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Fibromyalgia (fi·bro·my·al·gi·a) is a condition that causes pain all over the body (also referred to as widespread pain), sleep problems, fatigue, and often emotional and mental distress. -Centers for Disease Control and Prevention. Called abnormal pain perception processing, people with fibromyalgia experience pain differently and are more sensitive to it.

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INSURANCE TECHNOLOGY

APOLLO Insurance Partners With Homewise to Offer Homebuyers Access to Integrated Digital Insurance

Apollo Insurance Solutions Ltd | September 15, 2021

Apollo Insurance Solutions Ltd. (“APOLLO Insurance”), Canada’s leading online insurance provider, has partnered with Homewise to offer immediate digital insurance products, specifically tailored to Canadian home buyers that use their website each year. Launched in 2019, APOLLO Insurance now offers the largest selection of online insurance in Canada, through brokers and integrated partnerships like this one. Through APOLLO, consumers can get a quote and purchase insurance in five minutes, from any device, 24/7. Homewise’s mission is to help Canadians save thousands on their mortgages, offering the best mortgage rates in Canada through their list of lenders. Homewise can now offer digital insurance to its thousands of users, through APOLLO. Homewise is exceptional at providing Canadians the best mortgage rate and services, creating a better experience for home buyers while also giving users the opportunity to save money,APOLLO is excited to partner with Homewise, as users can now access the right insurance product for them, entirely online, through APOLLO. - Director of Business Development Jill Carberry-Feldman. Launched in 2018, Homewise wanted to provide Canadians with a better mortgage process that puts the buyer first. Homewise introduced a simple mortgage process with the goal of saving Canadian’s time, confusion, and money. With the Homewise free platform, they do the work for their users, negotiating with their large list of lenders to find them a great mortgage that meets their unique needs. Homewise has provided mortgage advice to clients across Canada, with over $10 billion of home transactions. Homewise is changing the face of the home buyer marketplace and will continue to help Canadians move into their homes easily, confidently, and with extra money in their pocket. “We are excited to partner with APOLLO to provide even more options to our clients in their home buying journey while simplifying their experience. Focusing on our goal of saving clients time, confusion, and a lot of money,” - Co-Founder and CEO Jesse Abrams. APOLLO’s proprietary technology platform, the APOLLO Exchange, transacts insurance business in real-time and leverages extensive data and sophisticated algorithms to quote, collect payment, create and deliver policies. Thousands of types of small businesses and individuals are able to buy online without human intervention. About APOLLO Insurance APOLLO is Canada's leading online insurance provider. Our proprietary platform, the APOLLO Exchange, allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect payment, and issue policies for thousands of types of small business and individuals without human intervention.Through traditional agents and embedded finance partnerships APOLLO is redefining the distribution of insurance. About Homewise Homewise makes the mortgage process simple, all with the goal of saving Canadian’s time, confusion, and a lot of money. After applying online in only 5 minutes, Homewise searches the market of over 30 banks and lenders to find borrowers their best mortgage – tailored to their specific needs. Borrowers are also set up with a personal Homewise Advisor to guide them at each step. Whether it’s pre-approval, approval, refinance, or switch, Homewise makes getting the best mortgage simple.

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INSURANCE TECHNOLOGY

GeoX partners with Sompo Japan to develop AI-based automated underwriting platforms

GeoX | February 18, 2022

GeoX, a leader in supplying geospatial data to insurers, has today announced a partnership with Sompo Holdings Inc., Sompo Japan Insurance Inc., and Sompo Risk Management Inc., specialty providers of property and casualty insurance and reinsurance with operations in the U.S. and 80,000 employees in 228 cities in 30 countries. This partnership will support Sompo Japan as it develops an automated underwriting methodology utilizing state-of-the-art AI technology. In recent years, advances in geospatial data technologies such as higher resolution and 3D satellite imagery have led insurers to use data in ways they had not previously considered. By combining GeoX's ground-breaking technology with Sompo's significant expertise and established global distribution networks, this partnership will fuel digital transformation within the insurance industry while enhancing customer experience. GeoX has the know-how and technology to provide reliable, high-quality intelligence for residential and commercial properties across the USA. Sompo Japan and GeoX have been working together since January 2021 on developing and introducing methodologies of assessing customer risks by utilizing external data and various advanced digital technologies. Since the completion of proof-of-concept, Sompo Japan has reached an agreement with GeoX to establish an insurance underwriting scheme utilizing this know-how. "In recent years, large-scale natural disasters have become more frequent and severe and the risk factors in disasters have become more diverse and complex, We look forward to working closely with Sompo Japan, as this partnership will analyze risk in the current landscape using a variety of external data and cutting-edge digital technologies. If knowledge is power in the insurance industry, AI is the key to that knowledge and with GeoX insights, it is more accessible than ever before." -Izik Lavy, Co-Founder and CEO at GeoX. "Sompo Japan has been a global leader in the application of modelling and data to casualty insurance with a strong commitment to the specialty markets, At this time of significant change across the business landscape, we must develop innovative responses to emerging and evolving risks. We look forward to this partnership, as it will drive positive change within the sector promoting the development of advanced insurance underwriting using geospatial data." -Yinnon Dolev, head of Sompo Digital Lab Israel & Europe at Sompo Holdings. About GeoX GEOX builds 3D property intelligence databases to help insurers assess risks more accurately, prevent losses, identify suitable properties for their portfolio, and to equip them better when claims occur, all while enhancing the customer experience every step of the way. Our proprietary 3D property intelligence derived from aerial imagery delivers data points for commercial and residential properties nationwide, from several roof geometry sources, to secondary structures and liability risks. And we deliver that rich, accurate property intelligence within seconds, at scale, and with no IT infrastructure requirements.

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INSURANCE TECHNOLOGY

Xceedance Expands its Actuarial and Analytics Services for Insurance Organizations

Xceedance | December 01, 2020

Xceedance, a global supplier of strategic insurance consulting and technology servicing insurance associations around the world, today reported the extension of its global Actuarial and Analytics Services practice, driven by Matthew Duke, SVP and chief statistician. “Matthew looks at actuarial services from a business perspective first,” said Manish Khetan, COO of North America operations at Xceedance. “His approach to maximizing the value of the insurance actuarial function can be transformational for large companies looking to streamline and focus operations. Small to mid-size insurance companies, which may not have the bandwidth to truly take advantage of progressive actuarial services, can also benefit from the Xceedance offering.” Duke acquires 15 years of authority actuarial and analytics disciplines, with ability in technique execution, encouraging authoritative change, and settling business challenges by means of information driven experiences that straightforwardly sway productivity. He is an individual from the American Academy of Actuaries (MAAA), a partner of the Casualty Actuarial Society (ACAS), perceived as a partner in reinsurance (ARe) by The Institutes, and accomplished his MBA from The Wharton School, University of Pennsylvania. Preceding joining Xceedance, Duke worked at Blackboard Insurance as head of evaluating and development analytics, where he created actuarial estimating foundation, driven state recording activities, reclassified the function of a statistician, and selected top ability. Notwithstanding break head of danger at Blackboard, Duke held situations at Freedom Mortgage, Guy Carpenter, Arch Insurance Group, and Travelers. “Xceedance has provided actuarial services to insurance companies for several years, building a foundation upon which an expanded practice with broader reach can be established,” said Duke. “I strongly believe the involvement of proficient actuaries at all levels of the insurance decision-making process can translate to real value on the profit and loss statement. In partnering with Xceedance, insurance organizations can have access to top-quality actuarial and analytics resources, not only for standard pricing and reserving work, but also to enable other functions which contribute to the goals and outcomes of a company’s strategic plan.” About Xceedance Xceedance (www.xceedance.com) is a global provider of strategic consulting and managed services, technology, data sciences, and blockchain solutions to insurance organizations. Domiciled in Bermuda, with offices in the United States, United Kingdom, Liechtenstein, Switzerland, Poland, India, and Australia, Xceedance helps insurers launch new products, drive operations, implement intelligent technology, deploy advanced analytic capabilities, and achieve business process optimization.

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