West Point Insurance Services debuted a testing and automation service designed for smaller insurance carriers, managing general agents and program administrators. Axon Underwriting Services added products and services to its Crisis Management division that address Political Violence Risks. The American Association of Insurance Services received approval from six state insurance departments for its health-emergency policy endorsement clarifying coverage and cancellation provisions in the wake of COVID-19.
West Point Insurance Services has rolled out InsurTest, a testing and automation service specifically designed for small to mid-size insurance carriers, managing general agents and program administrators.
The new product features a User Acceptance Testing (UAT) program that eliminates project delays and errors without draining budgets or overburdening in-house staff, according to West Point, a provider of specialized technology products and services for the insurance industry. As well, it includes an automated regression testing program to eliminate manual steps and redundant processes — without requiring insurers to make costly system replacements.
West Point developed and refined the testing software behind InsurTest over 20 years as part of the business process outsourcing (BPO) services it provided to insurance clients nationwide, the company said. Now, West Point is rolling it out as a stand-alone service, which is independent of its BOP services, to serve the small to mid-size insurers who need it most.
Axon Underwriting Services, a specialty lines program administrator, said it has added products and services to its Crisis Management division that address Political Violence Risks.
Staff has also been expanded to help support the new offering.
The cover will be handled as part of a unit with Crisis Management – Political Violence & Property Terrorism. The portfolio will be underwritten in partnership with Hamilton Lloyd’s Syndicate 4000, Axon said.
The American Association of Insurance Services (AAIS) has received approval from six state insurance departments for its health-emergency policy endorsement clarifying coverage and cancellation provisions in the wake of COVID-19.
To date, the endorsement has been approved in Arkansas, Arizona, Oregon, South Carolina, Tennessee, and Texas, and AAIS said it continues to respond to regulator concerns across the country.
AAIS has developed several sample policyholder notices and a model suspension of cancellation endorsement. The endorsement provides a temporary suspension for a specific timeframe during which a policy would not be cancelled due solely to the policyholder’s nonpayment of premium. The sample notices also address suspension of cancellation due to nonpayment of premium, the anticipated submission of pandemic-related claims, and good faith extensions of claim communication requirements and conditions.
AAIS serves the property/casualty insurance industry with advisory services, including forms, rating information and data management.
Sources: West Point Insurance Services, Axon Underwriting Services and AAIS