Insurtech roundup: Hiscox, Ride Vision, PartnerRe, Sensely, Zov Solutions

Published in: Risk, Risk Models, Corporate strategy, Rest of Europe, US - Canada - Bermuda, Software - IT

Companies: Hiscox, Ride Vision, PartnerRe, Sensely, Zov Solutions,

Hiscox launches FloodPlus app

Who’s involved: Specialist insurer Hiscox.

What’s happening: Hiscox has developed an app – FloodPlus AR – that uses augmented reality technology to illustrate the growing flood threat to coastal towns and cities from rising sea levels.

Significance of development: The app allows people to see how predicted sea level rises could affect Greenville, a suburb of Jersey City in the US, using a virtual topographical map. According to Hiscox’s analysis, 8.8% of properties in Hudson County, New Jersey, could be flooded if global sea levels rose by the 2.4 metres, as predicted by some climate experts by the end of this century.

 

Ride Vision to partner with Sara Assicurazioni

Who’s involved: Israeli startup Ride Vision and Italian insurance provider, Sara Assicurazioni.

What’s happening: Sara Assicurazioni and Ride Vision have partnered in a bid to reduce motorbike accidents in Italy.

Significance of development: Motorcyclists insured by Sara Assicurazioni could be eligible for a significant discount on their yearly premium when they retrofit their vehicles with Ride Vision’s system. Ride Vision’s predictive system aims to provide motorcyclists with low-cost threat alerts using artificial intelligence and computer vision technology.

 

PartnerRe to test Verisk’ voice analytics and artificial intelligence

Who’s involved: Global reinsurer PartnerRe and data analytics provider Verisk.

What’s happening:  PartnerRe will test Verisk’s voice analytics and artificial intelligence to further improve underwriting and customer experience.

Significance of development: As part of the initiative, PartnerRe will test technology that can flag potential tobacco usage among life insurance applicants through an analysis of telephone interviews and applicant data. The solution will help identify individuals who may need further review or lab testing, while enabling the majority of applicants to benefit from accelerated underwriting.

 

Sensely secures Middle East digital health partnership

Who’s involved: US-headquartered digital health solutions provider, Sensely, and NAS, a third-party administrator based in the United Arab Emirates.

What’s happening: Sensely has announced a multi-million dollar partnership agreement with NAS. The exact value of the agreement was undisclosed.

Significance of development: The companies will work in close collaboration to deploy Sensely's virtual health assistant technology to the NAS member ecosystem in an effort to boost engagement and communication with customers.

 

Zov Solutions launches technology platform for UK insurers

Who’s involved: Bulgarian software solutions provider Zov Solutions.

What’s happening: Zov Solutions has launched its general insurance platform, SID, for insurers in the UK.

Significance of development: According to Zov Solutions, SID enables non-life insurance providers to manage underwriting portfolios, bill clients, gain insights and review policies to keep on top of the entire policy lifecycle.

Ronan McCaughey