OpenSpace | June 23, 2022
OpenSpace, the global leader in 360° Jobsite capture and AI-powered analytics, announced a new collaboration with Shepherd, a commercial insurance provider for the construction industry, today. Based on their usage, OpenSpace customers will have access to the Casualty Pro excess liability insurance offering, which provides qualified contractors with underwriting credits and improved coverage on their Shepherd insurance policies. In addition, the simple-to-use Capture product from OpenSpace thoroughly documents the site, assisting in resolving disputes and speeding up claims processes. As a result, customers who use OpenSpace typically have a lower risk profile due to their ability to detect potential safety issues and costly errors before they occur.
We view the application of jobsite capture as one of the most exciting frontiers in construction risk management, and OpenSpace is the clear category leader, Our partnership allows customers to benefit from their OpenSpace usage by introducing data from the platform as a new category in our underwriting approach. Our fundamental belief is that contractors who leverage technology to be safer deserve to be rewarded by their insurance providers."
Shepherd's CEO and co-founder Justin Levine.
Builders use OpenSpace Capture to attach a consumer 360° camera to their hardhat and walk around the site as they usually would. Once the video from the walk is uploaded to the cloud, OpenSpace's computer vision technology stitches the images together and pins them to the floor plan, resulting in a reliable visual record of site status. The site's image map, powered by the company's Vision Engine, is typically ready to view about 15 minutes after upload. Better site documentation fosters stronger stakeholder collaboration, reduces the need for project managers to travel to the site, provides a historical record of progress, and can lower insurance premiums.
Greater Than | June 22, 2021
Greater Than (GREAT), the AI data analytics provider, is taking engine underwriting into another period. The organization's AI opens future expense for mishaps per driver, in this way giving a period benefit of 12 to year and a half's over conventional risk models. A period advantage that generally changes how engine risk proactively will be moderated, overseen, and evaluated.
Data has consistently been a fundamental aspect of the insurance industry. Adding AI into the condition, an exact understanding and precise valuing of current clients' future risk and claims costs are added. As Greater Than's AI exclusively utilize fair-minded and undeniable data, it gives the furthest and reliable analyses applicable to any market across the world.
"Our AI platform is an extremely sophisticated tool that directly transforms current data into future risk information and potential damage outcome per individual. As our AI understands the future, with incomparable accuracy and granularity, it also gives our customers a huge time advantage", - says Liselott Johansson, CEO of Greater Than
As a component of the transportation development, more individuals start to utilize elective methods for transport services. Car-sharing, ride-hailing and pay-as-you-go services are such. Further developed innovation is expected to serve and straightforwardly cost such services. Generally, cars utilized by a few drivers have consistently been perplexing to endorse. An intricacy that AI risk management can tackle by its ability to cost per client and conduct behind the wheel at the same time shows current and future risk costs.
Cision PR Newswire | October 17, 2020
Equisoft proudly announced today the successful implementation of their SaaS policy administration offering, Equisoft/manage, including their electronic application software, Equisoft/apply, for GCU. The new solution, which is built on the Oracle Insurance Policy Administration (OIPA) platform, was rolled-out for GCU's Final Expense products, creating an enhanced experience for e-applications, new business, automated underwriting, agency compensation, policy changes, billing & payments, claims, workflow, correspondence and operational reports. Located in Beaver, Pennsylvania, GCU is a 128-year-old fraternal benefit society offering innovative Life & Annuity products to their clients in United States. GCU embarked upon this strategic initiative in late 2018 and subsequently entered into a multi-year agreement with Equisoft to upgrade their technology, implement new products, and sunset their legacy PAS by migrating their policies to the Equisoft/manage solution.