Nationwide will debut an online insurance platform targeted toward businesses with fewer than five employees. Starr Insurance Companies said it is launching a construction-related insurance policy designed to fill a coverage gap. Hippo, an InsurTech focused on selling homeowners insurance, will offer Notion’s home monitoring technology to clients as part of a new, ongoing partnership.
Nationwide is partnering with Guidewire to launch a new insurance platform designed to address the specific needs of businesses with fewer than five employees. The platform provides full-service and end-to-end digital capabilities across the entire insurance life cycle.
The insurer said that customers will be able to complete an online commercial policy purchase within a few minutes, thanks to prefilled data options and automated underwriting criteria. Additionally, the customer experience will be customized to each business segment and will be available via mobile or desktop access.
Nationwide streamlined the application by minimizing the number of questions required for users to complete the process. In addition, the new offering digitally enables self-service transactions, including payment processing and policy information/document lookup.
Starr Insurance Companies said it launched a new mono-line general liability construction wrap-up insurance policy.
Dubbed Starr CIP Enterprise, the new product is designed for property owners and contractors who need tailored primary and excess general liability coverage for single large construction projects.
Starr said the cover is designed to fill a coverage gap for clients whose existing primary and excess liability coverages often don’t align, which leaves them with potential liability exposures. Contractors and property owners can access the exclusive Starr CIP Enterprise wholesaler network through their insurance broker.
Hippo, an InsurTech focused on selling homeowners insurance, will offer Notion’s home monitoring technology to clients as part of an ongoing partnership.
New Hippo customers in qualifying states will be equipped with the Notion Smart Home Starter kits when they sign up for an insurance policy. By installing and using the complimentary Notion kit, Hippo customers will also receive a smart home discount on their home insurance policy, helping reduce their premiums.
Notion smart home sensors are designed to help customers prevent in-home incidents, like water leaks and other costly insurance claims, before they create significant damage to the home. Hippo and Notion claim the arrangement reflects one of the first times a U.S.-based insurance provider has created a policy that fully integrates an IoT sensor.
Sources: Nationwide, Starr, Hippo/Notion