Berkshire Hathaway Specialty Insurance Launched two new D&O products in Germany. American Family-owned Bold Penguin debuted two new artificial intelligence-related products designed to help insurers with underwriting.
***
Berkshire Hathaway Specialty Insurance has launched two new products in Germany: Its Executive First Directors & Officers Liability policy for commercial customers, and a modular Professional First D&O and Errors & Omissions Liability solution for Asset Managers.
Each of BHSI’s Executive First & Professional First policies provide tailored coverage in clear, concise wording that is easily customizable to individual risks and expressly reflects exposures inherent in the German market.
These new policies mark BHSI’s first proprietary policy wordings launched in the German Executive & Professional Lines market. Future products are expected to follow for both Commercial and Financial Institutions customers.
***
Bold Penguin’s Data Solutions division launched two new artificial intelligence-powered products to instantaneously assist insurance professionals with key components of underwriting.
SubmissionLink automatically extracts data from submission documents, enhances it and delivers it into existing underwriting applications. ClauseLink is an enhanced version of RiskGenius, and extracts and categorizes clauses, allowing for instant coverage analysis by product underwriters.
Bold Penguin kump started its A.I. coverage analysis when it acquired RiskGenius in 2020. Bold Penguin and RiskGenius combined data science teams and reconstituted the insurance coverage software to focus on forms analysis for product underwriting departments.
Bold Penguin Data Solutions released a new version of the application in 2021 and renamed it ClauseLink
Bold Penguin, and InsurTech digital exchange launched in 2016, was acquired by American Family Insurance in February.
Sources: BHSI, Bold Penguin