Nationwide and Slice Labs will develop on-demand rideshare insurance products and services for drivers who work for companies in the space. Berkshire Hathaway’s GUARD Insurance Companies and Planck are partnering on a new project in the commercial insurance space. Cyber insurance startup Coalition said it is launching full-spectrum coverage to protect manufacturers from security failures and data breaches. Church Mutual Insurance Company has launched its first mobile app.
Nationwide will work with Slice Labs to develop on-demand rideshare insurance products and services for drivers who work for transportation networks such as Uber and Lyft.
Slice Labs is an insurance cloud services platform provider.
Specifically, Nationwide and Slice Labs are developing insurance cover for rideshare drivers that will let them purchase on-demand coverage unique to their industry via an app and at variable increments that align with the time they are driving for their ridesharing platform.
Coverage spans from the moment rideshare drivers activate coverage on the app to when they stop coverage. This timespan can range from just a few minutes up to multiple hours.
Nationwide plans to launch the new rideshare insurance product for drivers later this year.
Berkshire Hathaway’s GUARD Insurance Companies is forming a new partnership with Planck, an artificial intelligence-driven data platform for commercial insurance.
In doing so, GUARD said the arrangement will allow it to expedite its digital underwriting initiatives for the company’s small and medium business segment. GUARD said the initiative will help to optimize its underwriting process, generating better quotes, faster.
Planck’s AI creates accurate underwriting insights based on all data available online and offline, through its proprietary technology. With only a business name and an address as inputs, insurers can obtain the information necessary to evaluate the “right” risks and profitably grow and maintain their portfolio.
Cyber insurance startup Coalition said it is launching full-spectrum coverage to protect manufacturers from security failures and data breaches.
The company claims that it the first to offer a policy that fully encompasses the physical, technological and financial damages—including bodily harm, property damage and pollution—that manufacturers may experience as the result of a cyber incident or technology failure.
Coalition claims its policy for manufacturers is the first to address an ongoing gap in cyber insurance coverage for manufacturing firms that experience property damage, bodily harm and pollution due to a security failure or breach. At the same time it also covers losses typically associated with external data breaches.
Coalition’s offering provides coverage for manufacturing firms in areas including property damage, bodily harm and pollution resulting from a security failure; supply chain interruption from cyber attacks against the insured and their suppliers; invoice manipulation that results in payments being misdirected or fraudulently directed; technology disruption affecting operational and industrial controls, hardware and/or software; and wire fraud losses from payment or delivery of money or securities.
Church Mutual Insurance Company has launched its first mobile app.
Released exclusively to customers, the Church Mutual Now app provides original safety content, along with a new way to reach Church Mutual’s Risk Control and Claims departments. The new app is loaded with a wealth of resources to help policyholders protect their people and property.
Church Mutual said the app will make it easier and more convenient for customers to reach the company. The app also offers an easier, more convenient way for customers to contact Church Mutual, for general questions or for quotes and claims issues.
Church Mutual focuses on the religious institution marketplace, with many of its customers operating schools and camps or sponsoring other youth activities. To address those unique customer needs, the Church Mutual Now app also incorporates features to help them manage their organization’s events and sign release waivers while on the go.
The Church Mutual Now app will evolve over time to include additional features such as weather alerts, real-time notifications and links to valuable customer claim and policy information. It is available as a free download to Church Mutual customers through the Apple App Store or Google Play Store.
Sources: Nationwide, Berkshire Hathaway/Guard Insurance, Coalition, Church Mutual