One partnership will focus on boosting the claims experience for insurers and policyholders. Another looks to promote climate resilience and target social inequities. A third help insurance companies more accurately assess and price auto risk.
Safekeep said it is partnering with Duck Creek Technologies to boost the claims experience for insurers and policyholders.
Safekeep uses AI and machine learning to maximize net recovery through its Claims Profitability Platform. Duck Creek Technologies provides software and related platform technology to the P/C and General insurance industry.
Their technology combination, relying on Duck Creek’s platform, is designed to give insurers the ability to detect and score subrogation opportunities, as well as streamline the subrogation referral and investigation processes as early as First Notice of Loss. It is also envisioned to enhance subrogation referral quality, both in speed and potential, prevent leakage resulting in missed opportunities, and improve claims handlers’ efficiency and capacity.
Zurich North America, the Z Zurich Foundation and Resilient Cities Network have teamed up to create a multi-year program designed to strengthen climate resilience and help address social inequities in vulnerable communities in Houston and Boston.
The Z Zurich Foundation has committed $3 million to the program. Resilient Cities Network, which brings more than 10 years of urban resilience experience and a strong connection to cities through its network of Chief Resilience Officers, will identify neighborhoods, convene community and government partners, and deploy its Resilience Community Impact Fund to catalyze direct investment into projects. A cornerstone of the program will be the adaptation of the Zurich Flood Resilience Measurement for Communities diagnostic tool.
The program will initially work in highlighted neighborhoods of Houston and Boston, seeking to develop actions and implement projects that address climate risks, social inequities and resilience. The effort will begin by providing city practitioners and stakeholders diagnostic support on analysis of the challenges, community engagement tools and project implementation resources, before identifying appropriate solutions. Through this program, cities will engage with peer cities facing similar climate-related challenges, strengthen ties to private sector stakeholders, and receive technical assistance on analytical tools.
Swiss Re will partner with the analytics firm TNEDICCA to help insurance companies more accurately assess and price auto risk, with an eye on improving insurer profitability.
Swiss Re is a global reinsurance giant. TNEDICCA is focused on traffic crash data and location risk analytics.
The partnership involves integrating TNEDICCA’s Location Based Risk Score and its location risk data with Swiss Re’s Motor Market Analyzer, which combines a state-of-the-art predictive tool with motor accident risk knowledge and data analytics to ensure the alignment of interests with carrier customers.
Sources: Safekeep/Duck Creek Technologies; Zurich North America/Z Zurich Foundation/Resilient Cities Network; Swiss Re/TNEDICCA