Insurance core technology provider Socotra announced that Loggerhead Insurance, a Florida-based provider of homeowners insurance coverage in the state, has struck a deal to offer replacement coverage to those who will be issued policy non-renewal notices by Progressive Home.

With Progressive Home set to non-renew up to 115,000 policies in the state of Florida in an effort to rebalance their portfolio, according to a press release, Loggerhead stepped in to negotiate a deal with the incumbent to offer these customers an alternative. The Florida-based carrier will be able to provide uninterrupted coverage to these customers because of a partnership with Austin, Texas-based technology provider Socotra. Socotra’s solutions underpin Loggerhead’s policy administration system and allow it to tailor its products to the needs of homeowners in the state, the release said.

Loggerhead first announced this move in early October of 2023. The insurer plans to send its policy offers in early 2024 with policies taking effect from May 2024 onwards.

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FRISS, a provider of trust automation solutions for property/casualty insurers, announced its strategic collaboration with FIN-X, a research initiative by the University of Applied Science Utrecht, focused on innovative technologies and responsible artificial intelligence.

This partnership underscores FRISS’s commitment to further advancing responsible AI practices within the insurance ecosystem, according to a press release.

The collaboration with FIN-X will enable FRISS to leverage the latest research and insights in responsible AI, ensuring that the company’s solutions meet industry standards for ethical and compliant use of artificial intelligence.

Following its October 2023 agreement with MAWDY, a global insurance, reinsurance and services company and part of the MAPFRE Group, Blink Parametric has extended its partnership with MAWDY Ireland.

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The partnership commenced by covering segments of the direct book of travel insurance business. This recent announcement confirms that the Blink Parametric flight disruption solution is now being rolled out across the MAWDY Ireland InsureandGo travel insurance brand, making the solution accessible to consumers directly.

The new parametric-powered benefit will be applicable to InsureandGo single trip and annual multi-trip travel insurance customers who purchase either a platinum or gold policy. When a flight is disrupted by more than three hours, the eligible insureds are automatically notified and offered real-time access to executive airport lounges worldwide or a real-time cash payout alternative.

Blink Parametric offers real-time assistance and service to travelers impacted by flight disruption events. This is the latest in a succession of global partnerships announced by the company.

Sources: Loggerhead Insurance, FRISS, Blink Parametric