Latest news with #LifeInsuranceInternational
Yahoo
5 days ago
- Business
- Yahoo
Indico Data unveils AI-driven Agentic Decisioning Platform for insurers
Insurtech company Indico Data has launched a new Agentic Decisioning Platform designed specifically for the insurance sector. This suite of AI agents and agentic solutions is designed to augment underwriting and claims decisioning in commercial insurance, the company said. The platform includes Agent Studio, Agent Builder and Agent Workflow Canvas, and has been developed specifically for commercial insurers. The platform will allow carriers to replicate human decision-making in complex workflows including triage, analysis and validation of submissions, the company claims. Indico noted that the platform has led to a more than 80% reduction in manual processing time, a four-times increase in submission handling capacity, and 85% faster turnaround in underwriting and claims processing among insurers that have adopted the technology. The Agentic Decisioning Platform comprises specialised Extraction & Classification, Summarisation, Validation, Data Enrichment and Web Research agents. These agents are intended to handle insurance tasks such as data retrieval, document summarisation, accuracy checks, contextual data integration and web-based information gathering. Agent Builder allows insurers to create customised agents for tasks such as field extraction, classification, validation and summarisation using pre-built templates. The Agentic Workflow Canvas enables users to assemble these agents into complete decision-making workflows, with support for conditional logic, parallel execution and data routing. Current applications include underwriting submission triage, summarisation of multi-year loss run data, ingestion of broker communications, delegated authority bordereaux processing and early-stage claims triage. The Agentic Decisioning Platform is available as part of Indico's Decision Automation Platform. Indico Data CEO Tom Wilde said: 'This is the moment the industry shifts from automation to autonomy. Agentic Decisioning isn't just about efficiency – it is about enabling the insurance enterprise to operate with real-time intelligence, at scale, across every submission. We built this for AI impact, not AI experimentation. 'The Indico platform is the foundation for those ready to lead – not just survive – the next decade of insurance.' In April, Indico Data launched its Ready for Guidewire validated accelerator for ClaimCenter on Guidewire Cloud, available via the Guidewire Marketplace. "Indico Data unveils AI-driven Agentic Decisioning Platform for insurers " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
03-06-2025
- Business
- Yahoo
e2Value rolls out risk assessment tool for home insurers
e2Value has introduced a new risk assessment tool to improve underwriting accuracy in the home insurance market. The new tool, Structure Insurance Score (SIS), has been developed over seven years in collaboration with WTW and is now fully owned by e2Value. It offers a granular approach to home insurance pricing, providing small to mid-sized insurance carriers with advanced analytics previously available mainly to larger insurers, the company claims. SIS evaluates the structural characteristics of individual properties, analysing more than 100 data points per home. This allows it to assess how a property might respond to perils such as fire, water, weather, theft and liability, identifying nuanced risk factors often missed by traditional methods. Unlike conventional approaches that rely on basic property features like the number of bathrooms, storeys or roof age, SIS delves deeper. It uses e2Value's AI-powered technology, drawing on a dataset of millions of residential policies including premiums, structural data and loss history. The tool incorporates cost modelling across various peril categories and integrates geospatial analytics to refine risk assessments down to ZIP code levels. This ensures pricing reflects local conditions rather than broad geographic averages or distant market cost multipliers. e2Value stated that SIS' data strategy has been refined through decades of monitoring losses from major events like hurricanes and fires. SIS is designed to offer a competitive advantage, particularly for smaller insurers without in-house analytics teams, the company noted. It enables better segmentation, helping carriers identify high-risk properties that could affect loss ratios while recognising homes eligible for premium discounts. Offered on a subscription basis, SIS makes advanced risk analytics accessible to carriers of all sizes. It allows them to make informed underwriting and pricing decisions with insights once exclusive to larger insurers with proprietary tools. The tool leverages AI and extensive datasets to tackle long-standing challenges in property risk modelling. e2Value CEO and co-founder Todd Rissel said: 'We believe this is a watershed moment for us as well as the insurance industry at large. With the launch of SIS, this helps our clients advance beyond more traditional underwriting methods that rely on more generalised data points. "SIS is a precision instrument that can redefine how risk is understood and priced in the market. It can do what make-and-model scoring did for auto insurance.' "e2Value rolls out risk assessment tool for home insurers " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
e2Value rolls out risk assessment tool for home insurers
e2Value has introduced a new risk assessment tool to improve underwriting accuracy in the home insurance market. The new tool, Structure Insurance Score (SIS), has been developed over seven years in collaboration with WTW and is now fully owned by e2Value. It offers a granular approach to home insurance pricing, providing small to mid-sized insurance carriers with advanced analytics previously available mainly to larger insurers, the company claims. SIS evaluates the structural characteristics of individual properties, analysing more than 100 data points per home. This allows it to assess how a property might respond to perils such as fire, water, weather, theft and liability, identifying nuanced risk factors often missed by traditional methods. Unlike conventional approaches that rely on basic property features like the number of bathrooms, storeys or roof age, SIS delves deeper. It uses e2Value's AI-powered technology, drawing on a dataset of millions of residential policies including premiums, structural data and loss history. The tool incorporates cost modelling across various peril categories and integrates geospatial analytics to refine risk assessments down to ZIP code levels. This ensures pricing reflects local conditions rather than broad geographic averages or distant market cost multipliers. e2Value stated that SIS' data strategy has been refined through decades of monitoring losses from major events like hurricanes and fires. SIS is designed to offer a competitive advantage, particularly for smaller insurers without in-house analytics teams, the company noted. It enables better segmentation, helping carriers identify high-risk properties that could affect loss ratios while recognising homes eligible for premium discounts. Offered on a subscription basis, SIS makes advanced risk analytics accessible to carriers of all sizes. It allows them to make informed underwriting and pricing decisions with insights once exclusive to larger insurers with proprietary tools. The tool leverages AI and extensive datasets to tackle long-standing challenges in property risk modelling. e2Value CEO and co-founder Todd Rissel said: 'We believe this is a watershed moment for us as well as the insurance industry at large. With the launch of SIS, this helps our clients advance beyond more traditional underwriting methods that rely on more generalised data points. "SIS is a precision instrument that can redefine how risk is understood and priced in the market. It can do what make-and-model scoring did for auto insurance.' "e2Value rolls out risk assessment tool for home insurers " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
28-05-2025
- Business
- Yahoo
ConnectureDRX and EvolveNXT partner to streamline Medicare enrolment
ConnectureDRX, a provider of Medicare shopping, quoting and enrolment solutions, has partnered with EvolveNXT, a specialist in broker compensation and sales performance management software. This tie-up will integrate the platforms, offering a 'seamless' experience for health plans, agencies and their producers, from onboarding to enrolments and commission management. The partnership will deliver a unified workflow for joint customers, allowing them to manage onboarding, training and compensation through EvolveNXT, and to handle quoting, enrolment and book management through ConnectureDRX. It features the implementation of real-time readiness to sell tracking (RTS Tracking), which provides alerts to verify an agent's readiness to sell prior to the start of enrolments. Additionally, the tie-up facilitates access with a single sign-on, enabling agents to launch ConnectureDRX's PlanCompare ONE from within EvolveNXT. The real-time data synchronisation feature is another key aspect of this partnership, ensuring application statuses and alerts are updated promptly, thereby reducing delays caused by requests for information. ConnectureDRX Strategy VP Andrew Tutaj stated: "ConnectureDRX and EvolveNXT are creating a powerful, unified ecosystem for our distribution partners. This partnership streamlines the entire producer life cycle, giving agents one place to onboard, train, enrol clients and get paid, delivering better outcomes." ConnectureDRX supports 160 carriers and more than 6,500 plans, with a network of 125,000 agents across more than 120 field marketing organizations (FMOs) and agencies. ConnectureDRX's Active Analytics platform provides data-driven insights. EvolveNXT COO Sulekha Ramayya said: "Our mission is to give healthcare organisations scalable, intelligent tools that reduce friction and improve compliance. Partnering with ConnectureDRX brings even more value to clients focused on Medicare growth and operational efficiency." In 2024, the EvolveNXT platform managed more than $5bn in commission payouts for 350,000 agents and 25 million members. "ConnectureDRX and EvolveNXT partner to streamline Medicare enrolment " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
CFC expands cyber cover to include sector-specific policies
CFC, an insurance provider specialising in emerging risks, has expanded its Cyber Proactive Response (CPR) coverage to current policies catering to the digital health, fintech and technology sectors. This move is effective immediately. It provides services to prevent cyberattacks, directly included within the policy terms, as well as supports events related to AI. For technology and fintech companies, the coverage includes compensation for income or fees lost due to unsuccessful bids. Furthermore, the policy covers emergency continuity costs to help businesses stay operational during and after cyber incidents, focusing on digital health providers. CFC deputy chief underwriting officer Tim Boyce said: 'Given their exposure, it made sense to immediately enhance the tailored coverage we offer to key sectors by replacing existing cyber wordings with our newly launched CPR coverage. 'The positive impact of incorporating our CPR coverage into our policies cannot be overstated. A cyber incident in any of these sectors could result in significant privacy breaches, immediate financial losses, reputational damage, and in the case of digital health, even risk to human life. Our new cyber wording not only helps prevent attacks but also ensures our expert in-house teams can respond swiftly to minimise disruption and get businesses back on track.' Earlier this month, CFC launched a simplified intellectual property (IP) insurance policy, targeting businesses of various sizes, from start-ups to those with turnovers up to £500m ($657.46m). This policy covers the defence and pursuit of infringement claims, contractual indemnities, and compensation for the loss of IP rights and profits. "CFC expands cyber cover to include sector-specific policies " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
