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Associated Press
28-05-2025
- Business
- Associated Press
Stratus Unveils New Brand Identity to Reflect Its Evolution into a Human-First Partner in Insurance Transformation
Rebrand highlights high-touch insurance transformation services Stratus provides to help insurers successfully tackle even complex modernization challenges. 'This rebrand is a declaration of who we've become: a strategic partner that combines deep domain expertise with a relentless commitment to human-centered insurance transformation.'— Chuck Fillizola, CEO of Stratus SHREWSBURY, NJ, UNITED STATES, May 28, 2025 / / -- Stratus, a leading systems integrator and technology partner for property and casualty (P&C) insurers and managing general agents (MGAs), today announced the official launch of its new brand identity, marking a bold new chapter in the company's growth. The rebrand better reflects Stratus's expertise in providing full-scale digital transformation solutions that helps insurers modernize with confidence and also close critical IT talent gaps. The refreshed brand underscores the company's expanded services in Guidewire implementation, cloud migration, data modernization, and AI strategy and execution—all delivered through Stratus's hallmark people-centered approach. 'Stratus has always been about people, our clients, our partners and our incredible team,' said Chuck Fillizola, CEO of Stratus. 'This rebrand is a declaration of who we've become: a strategic partner that combines deep domain expertise with a relentless commitment to human-centered insurance transformation.' Solving the Industry's Most Persistent Challenges Stratus's evolution comes at a pivotal moment. As insurers face mounting pressure to modernize, core system replacements and cloud migrations often prove more costly and complex than expected. Fewer than 30% of large insurance tech transformations are delivered on time and on budget, and frustration is growing with inflexible, high-cost consulting models. The market is signaling a need for agile, empathetic partners who bring both technical depth and a human touch. 'Stratus isn't just transforming systems–we're redefining what modernization feels like for insurers,' said Britt Bahar, Chief Growth Officer. 'This rebrand kicks off a bold new chapter. One where we lead with intention, deliver with precision, and put people at the center of transformation. It's a reflection of how we partner: with focus, heart, and a commitment to real impact.' With a global team of more than 550 professionals across the U.S., Canada, and India, Stratus delivers outcome-driven solutions that reduce total cost of ownership, increase scalability and accelerate speed to value. The company's recent successful client engagements, including Farm Bureau Insurance Company of Idaho and its expanded portfolio of insurance clients underscore its growing momentum. A Differentiated Model for Modernization What sets Stratus apart is its integrated model of technology execution and strategic talent delivery. In an industry where scaling modernization programs often hinge on people, Stratus uniquely supports clients by not only implementing solutions, but also building the teams to sustain them. Its fusion of SI delivery and workforce augmentation provides a complete, adaptable approach to digital transformation. A New Identity for a New Era Stratus's new brand includes a modern visual identity, refined messaging, and a relaunched website at unveiled today. The rollout culminates at InsurTech Insights North America, where Stratus will showcase its full suite of services and host executive briefings on cloud and data modernization. ### About Stratus Stratus is a people-first technology partner helping property & casualty insurers and MGAs modernize with confidence. From Guidewire implementations and managed services to AI and data modernization, Stratus combines deep domain expertise with agile execution and unmatched talent delivery. Headquartered in New Jersey with operations in Canada and India, Stratus is trusted by P&C insurers and MGAs to deliver transformation with heart, humanity, and measurable outcomes. Brett McKenzie CoVerse Communications +1 773-294-9724 email us here Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
National Post
27-05-2025
- Business
- National Post
1 in 5 Consumers Avoid Filing Claims Due to Frustrating Digital Processes, According to Insurity's Latest Survey
Article content Article content HARTFORD, Conn. — Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, announced new findings from its 2025 Digital Experience Index, a national survey measuring consumer sentiment around digital interactions with P&C insurers. The survey found that 22% of consumers have avoided filing an insurance claim because the process was too frustrating or complicated, highlighting a critical gap in the claims experience that insurers must address to protect trust, loyalty, and long-term value. Article content The survey also found that 64% of consumers would consider switching insurers for a more seamless digital experience, revealing how easily poor interactions, especially during the claims process, can drive customers to competitors. As insurers continue to advance their digital strategies in 2025 and beyond, prioritizing intuitive, user-centric digital experiences will strengthen retention and build long-term customer loyalty. Article content As digital tools become the primary channel for customer engagement, the survey highlights that poor claims experiences are not just process inefficiencies but key drivers of lost trust and reduced customer loyalty. This insight comes when insurers are under increasing pressure to modernize core systems, enhance operational performance, and deliver greater value to policyholders. While many carriers have made significant progress in digital transformation, the findings make clear that technology investment must be paired with a strong emphasis on user experience. Those investments may fail to deliver meaningful returns without intuitive, efficient, and responsive interactions, especially during critical moments like claims. Article content 'As carriers evaluate their core systems and digital infrastructure this year, the priority must be reducing friction where it matters most,' said Sylvester Mathis, Chief Insurance and Chief Revenue Officer at Insurity. 'A clunky or disconnected claims process frustrates customers and risks sending them elsewhere. When someone avoids filing a claim, despite having coverage, it signals a fundamental breakdown in trust. If policyholders feel friction, uncertainty, or inflexibility, they're less likely to file a claim, and far more likely to leave.' Article content This survey was conducted online in April 2025, and more than 1,000 adult participants were randomly selected across the United States to ensure a representative sample. Respondents were asked a series of 19 questions, ranging from multiple-choice to scale-based, to gauge their opinions on their digital experience. Data analysis was performed to identify key patterns and insights. Article content Article content Article content Article content Article content
Reuters
07-05-2025
- Business
- Reuters
Verisk beats profit estimates on demand for data analytics products
May 7 (Reuters) - Verisk Analytics (VRSK.O), opens new tab reported a better-than-expected profit for the first quarter on Wednesday, driven by demand for its data analytics products primarily used by property and casualty (P&C) insurers to assess policy risks. P&C insurers have been facing higher losses due to claims triggered by increasing numbers of extreme weather events around the world. The California fires, one of the costliest natural disasters in American history, alone are estimated to have caused economic losses running up to $250 billion, dealing a major blow to insurers' earnings. New Jersey-based Verisk primarily serves the P&C insurers, providing catastrophe modeling and predictive analysis to help them assess risk and optimize policy pricing. In recent years, the company has leveraged AI to deliver deeper insights into emerging risks, improving underwriting and claims management. Verisk's consolidated first-quarter revenue rose 7% to $753 million from a year earlier, beating analysts' average estimate of $749.8 million, according to data compiled by LSEG. The company earned $1.73 per share on an adjusted basis in the three months ended March 31, up from $1.63 a year ago. Analysts, on average, were expecting earnings of $1.68 per share. Underwriting revenue increased 6.8% to $532 million in the reported quarter, while claims revenue climbed 7.5% as demand for the company's anti-fraud and property estimating solutions grew. (.SPX), opens new tab.
