Hippo said it has formed two new partnerships that will deploy automation to boost speed and processing of its back-end customer claims services. AXIS Insurance said it formed a strategic partnership with cybersecurity company Elpha Secure to focus on mitigating the risk of common cyber threats.
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Hippo said it has formed two new partnerships that will deploy automation to boost speed and processing of its back-end customer claims services.
Hippo, a California-based MGA focused on digital homeowners insurance will work with Claimatic and Five Sigma in the partnership deal. Their collective goal is to automate the pairing of claimants and service-providers, from adjusters to managed repair network partners and vetted contractors, and provide them with critical information quickly, dramatically increasing overall performance.
Claimatic’s SaaS platform is designed to eliminate claim reassignment issues, acting as a matchmaking service between the claimant and adjustor to deliver the best possible outcomes for Hippo customers at an expedited pace. Claimatic is based in San Antonio.
Hippo will use Five Sigma’s cloud-native product and machine-learning software to identify the severity of a claim at the earliest possible point when a loss is identified. Five Sigma, which is based in Israel, sets clear reserving suggestions, and consistently reports on reserves over time, according to partnership announcement.
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AXIS Insurance said it formed a strategic partnership with cybersecurity company Elpha Secure to focus on mitigating the risk of common cyber threats.
Elpha Secure produces Elphaware, a Software as a Service (SaaS) application used to mitigate cyber risks, and the company provides small and micro businesses with the cyber security tools and protections that are expected in today’s marketplace, the companies’ announcement noted.
Elphaware provides small business owners with a roster of cyber security tools that work alongside existing security measures, with features including secure, encrypted backups of critical data, multi-factor authentication for remote access, creation of a Virtual Private Network and insider threat an anomaly detection.
Protection addresses social engineering and malware attacks such as ransomware, and it is designed to help small businesses recover quickly when an incident happens.
Sources: Hippo and AXIS Insurance