Verisk is expanding its OneXperience InsurTech property inspection product into commercial insurance. Beyontec has updated one of its signature software products designed to help MGAs transition quickly to digital backend processes.
Verisk is expanding its OneXperience InsurTech product into commercial insurance.
The platform was initially launched in 2019 for home inspections. Verisk explained that OneXperience can now be used to help insurers conduct real-time digital/virtual surveys of commercial buildings, obtain critical insights and share photos, forms and documents with all stakeholders. Verisk is a data analytics and risk modeling firm.
This expansion allows agents and businesses to work with insurers by sharing video surveys of commercial properties in real time, helping insurers and their customers accelerate the underwriting process, Verisk said.
With OneXperience, insurers can direct the survey to reveal granular details on potential risks and eliminate the gaps between actual conditions at the property and the coverage being provided. Insurers can also use OneXperience to request that Verisk review data submitted through the platform and provide analysis.
The platform can be used by agents and insureds at multiple points of engagement from quote to renewal, Verisk said.
Beyontec, an insurance technology company, said it now offers a tailor-made cloud-based version of its Beyontec Suite product to help MGAs transition faster to digital processes with minimal changes to existing processes.
Beyontec is marketing this for non-standard auto managing general agents.
The company said this updated version is designed to help speed up the digital conversation process with minimal upfront investment. Beyontec said this product will work with most non-standard auto process needs.
Beyontec, based in Texas, sells software and related services to insurers, focused on backend functions including sales, claims, billing and loss ratio. The software incorporates advances such as AI and Bots in order to ease the transitional process to digital.
Source: Verisk, Beyontec