Insurance exchange bolt and Pathpoint, a digital wholesaler for small commercial excess and surplus, announced the launch of Pathpoint’s integration into bolt Access, bolt’s wholesale agency digital placement platform.
Insurance agents who use bolt Access to place small commercial insurance now have the ability to quote Pathpoint’s small commercial E&S in an end-to-end digital experience, meaning bolt Access users can immediately get quotes for non-admitted markets within the platform.
bolt Access agents can offer their clients non-admitted general liability, property, commercial package, and excess liability coverage across contractors, vacant buildings and land, lessor’s risk, and restaurant verticals with this direct integration.
***
Wipfli LLP has expanded and strengthened its advisory services by investing in additional tax and technology expertise to focus on the needs of insurance clients. These additional resources will better enable it to advise clients with strategic priorities, according to a company press release.
The firm’s digital, data and cloud capabilities aim to enable clients to see where challenges can be turned into opportunities. Wipfli’s digital solutions employ a team approach that takes clients through strategy, planning, building data repositories and creating data visualization.
Included in Wipfli’s insurance industry capabilities is consulting for businesses choosing to utilize captive insurance.
***
ICEYE, a provider of natural catastrophe services and insights, announced its participation in a parametric pilot program to protect low-income communities in New York City from flooding.
The program is led by Swiss Re Corporate Solutions and Guy Carpenter and is funded by the Civic Innovation Challenge of the National Science Foundation and the Department of Homeland Security. The pilot was developed in partnership with Center for New York City Neighborhoods, the New York City Mayor’s Office of Climate & Environmental Justice, and the Environmental Defense Fund.
The initiative is part of a multi-agency effort to enhance the financial resilience of low- and moderate-income households exposed to flood risk in the New York City region. The parametric solution, insured by Swiss Re Corporate Solutions, will fund rapid cash payments by CNYCN following a flood event. The 12-month trial period commenced in February 2023.
The launch of the program was announced by MOCEJ and CNYCN.
As the technology partner for the solution, ICEYE will supply hazard data based on satellite imagery and auxiliary information sources, which determine the overall flood extent as well as flood depth at an individual building level. This information is provided by ICEYE soon after the peak flooding is captured. Swiss Re will use this data to establish whether the payment threshold of the pilot product has been met or exceeded. If triggered, CNYCN will receive an instant payment which will fund cash grants to those affected by the flood.
Additionally, the ICEYE data may be used by emergency management agencies throughout the city to improve targeted response activities. The hope is that the resulting combination of more efficient response and quicker relief will lead to more successful recovery outcomes, ultimately driving financial resilience for these LMI households in the face of increasing flooding concerns.
Sources: bolt, Wipfli, ICEYE