CNA Canada launched Asset Managers Liability Solutions, backed by in-house claims professionals experienced in handling complex claims. The policy is available for new business quotes starting Dec. 1, 2022.

Asset Managers Liability Solutions offers five available coverage parts, including investment adviser management liability, investment adviser professional liability, fund management and professional liability, employment practices liability and fiduciary liability. The policy aims to help businesses effectively address risks that can impede financial service professionals’ ability to help their customers.

In Canada, products and services are provided by Continental Casualty Company, a specialist commercial property/casualty insurance provider for clients and brokers in all local geographies. CNA provides a range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada and Europe.

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Openly, a provider of homeowners insurance, is working to deliver a modernized, simplified customer experience powered by technology and data from global analytics provider, Verisk.

With Verisk’s LightSpeed for Homeowners platform, Openly is amplifying its data-forward strategy that seeks to optimize the ordering of rating and underwriting information in real time and help independent agents deliver products and service to homeowners. Openly is leveraging LightSpeed to support its efforts to enhance the quoting process for independent agents, refine underlying models and continue its growth into new states.

Data delivered through Verisk’s LightSpeed platform includes loss history, address-level hazard exposure, fire protection ratings, reconstruction costs, homeowner characteristics, aerial imagery and a range of intelligence on property history and condition. Openly will use this data at point of quote and then across the policy life cycle to track changes, from occupancy details to renovations, that may affect coverages, pricing and eligibility at renewal.

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Bdeo, the global provider of artificial intelligence services for motor vehicle and property insurance, launched a new visual intelligence service to assess damage and estimate costs for vehicle fleets. This new service automates the ongoing monitoring of vehicle conditions and assessment of damaged parts, eliminating many of the manual and paper-based fleet management processes that exist today.

Bdeo’s visual intelligence service aims to streamline the evaluation of vehicles, whether it’s during an ongoing contract or after a contract is completed, to provide real-time insights on mileage, vehicle condition, and any possible damages. Through a self-guided and personalized process, the end user, such as a receiving agent, can capture any evidence of vehicle damage without downloading any apps. Bdeo’s visual intelligence engine then processes the evidence, which may include exterior and odometer images, to produce an assessment of the vehicle with the damage identified and classified by type. The platform can also compare images with the previous condition of the same vehicle.

Depending on the parameters set by the fleet management company, Bdeo’s platform can calculate and deliver reports on the cost to repair or exchange parts, indicate whether or not a vehicle is fit to be leased again, and even recommend the business-to-consumer selling price of the vehicle if it is no longer suitable for renting or leasing.

Bdeo provides visual intelligence solutions, a specific type of artificial intelligence, to help automate inspection and evaluation processes for motor and home insurance companies and for fleet companies. Founded in 2017, the company works with more than 50 insurance companies in 20 countries and has offices in Spain, Mexico, the UK and France.

Sources: CNA Canada, Openly, Bdeo