Insurtech weekly: Manulife; Ageas; Guy Carpenter; Evertas; Wefox

Published in: Risk, Corporate strategy, Software - IT

Companies: Manulife, Ageas, Guy Carpenter, Evertas, Wefox

Manulife boosts health offering with digital partnership

Who’s involved: Manulife, Swiss-based digital health platform provider Dacadoo.

What’s happening: Manulife has partnered with Dacadoo in a bid to increase its digital health offerings in Asia.

Significance of development: Manulife said the partnership will enable it to strengthen its health engagement platform, ManulifeMOVE, with the addition of Dacadoo features including its Health Score application, that allows users to track health levels using scientific scoring.

Ageas deploys AI-based vehicle damage assessment tool

Who’s involved: Ageas UK, AI developer Tractable.

What’s happening: Ageas has deployed Tractable’s AI-based car damage assessment tool.

Significance of development: Tractable said the tool can simplify complex tasks, usually performed by a human assessor, and assess what is required for repair and how long a repair will take.

Both parties said the deployment was trialled in 2019 and the technology will resolve thousands of claims each month.

Guy Carpenter targets silent cyber exposure

Who’s involved: Risk and reinsurance broker Guy Carpenter, AI-based insurtech RiskGenius.

What’s happening: Guy Carpenter has partnered with RiskGenius in a bid to improve detection and analysis of silent cyber exposures.

Significance of development: Guy Carpenter said the partnership will enable users to develop underwriting strategies and establish silent cyber risk roadmaps.

Evertas plans managing agent status

Who’s involved: Cryptoasset insurance company Evertas.

What’s happening: Evertas has announced plans to launch a managing agent specialising in cryptoasset-related theft loss and coverages.

Significance of development: As part of the plans Evertas said it is looking for an insurance partner who can provide insurance capacity of around $50m per policy.

Covid-19 prompts Wefox Group to drop platform fee

Who’s involved: Berlin-based technology platform provider Wefox Group

What’s happening: Wefox Group has revealed plans to distributed its latest tech platform, wefoxGo, to insurance brokers free of charge in a bid help them continue business during the Covid-19 pandemic.

Significance of development: Wefox Group said it brought the distribution forward as a result of the pandemic as it is “accelerating the pace for digital distribution”.

Paul Walsh