Insurtech Corvus Insurance has announced an agreement with Skyward Specialty Insurance Group to sell the former’s Smart Cargo + Cyber product. The cyber endorsement is designed to cover risks like business interruption that happen when a cyber attack impedes delivery of goods in transit. Skyward says the data and AI-driven product matches its desire to “better address the needs of complex specialty property and casualty categories,” says Andrew Robinson, CEO of Skyward Specialty. “We are excited to take this first step in our partnership with Corvus.”
Insurtech Trov has announcesd a new wave of partnerships in the UK with brands that will offer digital insurance powered by its technology, including Love to Rent, OpenBrix, Moovshack, Utilita and Movinghub. It’s also expanding its partnership with Lloyds Banking Group to add Flexible Contents Insurance for renters, tenants and homeowners.
London Underwriters, a UK wholesale broker, has launched Bunch Insurance in six U.S. states. Using Instanda cloud-based technology, London Underwriters created Bunch to offer commercial property insurance drawing heavily on third-party data integrations to quote and bind faster. “We have now created a minimum viable product that we can test and iterate on the fly – enabling a higher rate of success for our business,” says London Underwriters and Bunch Insurance CEO, Daniel Feigenbaum. Crum & Forster, a U.S. commercial insurer, has tapped AI insurtech Convr for underwriting transformation. The company’s d3 Intake now powers new business submissions. “Partnering with Convr is a big step in helping us achieve operational excellence, which will strengthen our relationships with brokers and agents at the same time,” said Lauren Dieterich, senior vice president and head of operations for Crum & Forster’s Surplus & Specialty Lines Division. “Convr’s d3 Intake solution will permit straight-through processing of submissions, while increasing the amount of data captured for downstream analytics and ultimately enable us to provide better quotes faster.” HERE Technologies and Kasko2go have partnered up to use HERE’s traffic data in Kasko’s risk-assessment platform. Combined with existing data sources, including accident data, Kasko’s Normal Sigma can provide more reliable probability assessments of driver accidents, the company claims. “This quantity and quality of data is required for our advanced AI models, and ensures that we provide a trustworthy risk assessment solution to the car insurance industry at a time when the sector is evolving,” says Oleg Korol, CTO at kasko2go.
Source: Digital Insurance
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