Swiss Re Corporate Solutions and The Hartford entered into a strategic agreement that expands The Hartford’s network of global partners, giving the company’s multinational customers broader access to insurance coverage around the world. This collaboration supports The Hartford’s service commitment to its international customers.
In countries where The Hartford will use Swiss Re carriers to offer property cover, ONE Form, Swiss Re Corporate Solutions’ globally standardized property policy, will be available. ONE Form is embedded in the PULSE platform to automate local policy issuance.
With the PULSE technology platform for brokers and carriers, Swiss Re Corporate Solutions, together with its partners, aims to fully digitalize the exchange of data and information to simplify insurance processes.
A new Austin, Texas-based managing general agency, Sensa, announced its partnership with Incline P&C Group to provide its personal auto insurance offering. Sensa will act as an MGA to offer its product through a network of appointed retail brokers and agents.
Sensa’s auto insurance product combines a proprietary sensor and first-notice-of-loss accident notification systems with enhanced underwriting and risk selection processes. Activated only when the force of impact indicates a collision, the sensor automatically detects an accident and precisely analyzes damages and injuries, ensuring the right assistance is dispatched quickly to the scene.
Personalized, professional help is available in real time, 24/7, via Sensa’s support team, and lifesaving support is provided when needed from the scene of any accident. Being able to respond while a loss event is unfolding equips Sensa with the real-time situational awareness required to reduce damages and ultimately insurer and reinsurer loss ratios, according to a company press release.
Acrisure Re was the appointed reinsurance broker on the transaction and facilitated both the insurance and reinsurance support for Sensa and Incline P&C Group.
Sensa’s U.S. launch kicked off in Illinois earlier this month with Texas, Indiana and Ohio scheduled for the coming weeks and a rapid rollout coming to the rest of the country soon. Sensa will be introducing additional proactive insurance offerings, with home insurance scheduled to launch later this year, it said in its press release.
Shift Technology, a provider of artificial intelligence-driven decision automation and optimization services for the global insurance industry, and Duck Creek Technologies, a global technology provider to the property/casualty insurance industry, announced the two companies have entered a partnership to bring AI-enabled fraud detection capabilities to market in 2022.
Once fully integrated, insurers taking advantage of Duck Creek Claims will have real-time fraud alerts delivered directly to the claims management software environment.
Duck Creek Claims is a claims management platform that helps insurers manage the entire claims life cycle from first notice of loss to claim settlement.
Shift Claims Fraud Detection uses artificial intelligence to identify suspicious claims. Alerts generated by the platform provide claims professionals with fraud indicators as well as investigative next steps.
Sources: Swiss Re Corporate Solutions, Sensa, Shift Technology