Infrastructure/Back-end

Akur8 and ICPEI partner to revolutionise insurance pricing in Canada

Akur8 and ICPEI partner to revolutionise insurance pricing in Canada

Akur8, a next-generation insurance pricing and reserving platform powered by Transparent AI, has partnered with the Insurance Company of Prince Edward Island (ICPEI), a leading provider of personal and business insurance across Canada.
Herald, a trailblazer in digital insurance infrastructure, has just secured $12m Series A funding round co-led by Lightspeed Venture Partners and Brewer Lane Ventures, with additional participation from Afore Capital and Underscore Venture Capital.

Herald secures $12m Series A funding to enhance insurance connectivity with AI

Herald, a trailblazer in digital insurance infrastructure, has just secured $12m Series A funding round co-led by Lightspeed Venture Partners and Brewer Lane Ventures, with additional participation from Afore Capital and Underscore Venture Capital.
Pinpoint Predictive raises $23m to transform underwriting with AI technology

Pinpoint Predictive raises $23m to transform underwriting with AI technology

Pinpoint Predictive, an innovator in the InsurTech sector, has successfully completed its Series A funding round, amassing more than $23m.
Specialist research firm FinTech Global has released its seventh annual InsurTech100 list, outlining some of the industry’s leading incumbents.   

FinTech Global’s InsurTech100 celebrates the industry’s leading innovators

Specialist research firm FinTech Global has released its seventh annual InsurTech100 list, outlining some of the industry’s leading incumbents.   
Responding to governance events, like audits, investigations and e-discovery, in the era of unified communications and collaboration (UCC) is hard. IT stakeholders, such as those responsible for compliance archive storage and architecture, responding to search requests from compliance and legal, are overwhelmed by the volume and complexity of today’s modern communications and by the constraints of heritage archiving investments. Unfortunately for those involved, both on the IT and compliance/legal side, search and discovery might consist of a “best guess” effort making it challenging to identify risk or wrongdoing, form a judgment on the merits of a case and at its worse, suffer fines, sanctions, negative verdicts and damage to the organization’s brand and reputation. The volume of communications for today’s organizations come in the form of textual communications like email, chat, SMS, documents, voice communications and even visual communications like whiteboards or video. In a large organization, with thousands of employees working across multiple communications platforms, content growth can be exponential. UCC content is also complex. Textual content like chat and email can be embedded with emojis, reactions, images, memes, file attachments and more. All of this needs to be searched and analyzed for potential risk and signals of intent during a digital conversation as rogue users can look to obfuscate their communications behind these tools. Users today often context switch between multiple applications during a conversation. What starts out as a virtual meeting can segue to SMS, a phone call, an email or other forms of communication. In addition, chat conversations can be persistent and take place over days, weeks, months, even years, making it very difficult to encapsulate conversation patterns, relationships, intent and more. Finally, adding to the complexity level, UCC platforms are increasingly meshed, meaning they provide the ability to switch to a different modality (voice, video, etc.) or even a different platform for doing so. How can compliance IT teams keep up? Legacy approaches to managing regulated data - such as email and voice archives - are struggling to adapt to today’s modern communication requirements. These archive systems can serve as containers for regulated information to be safeguarded and locked away, but with enormous and numerous trade offs. These include redundant costs, loss of productivity, and increasing complexity, as they grapple to meet the constant evolution of changing UCC platforms and their continual improvements and feature additions. Responding to governance events can also mean that compliance IT stakeholders must pivot between these archive silos, conducting multiple search attempts and results and manually assembling a case or data investigation set. In addition, legacy systems lack the capability to capture and retain communications with full context across all UCC modalities, making it very difficult for compliance, legal and risk teams to piece together a digital conversation that as mentioned, can encompass text, voice and visual communications. Keyword search, the historical and primary means of navigating archived email conversations, is inadequate as a standalone capability in the face of today’s volume and complexity challenges, making it challenging to respond to external and internal requests for information. All of this is compounded by constrained time frames, such as when dictated by a judge’s or regulatory body’s order. UnifiedComms_Laptop In response to this, Theta Lake has developed Unified Search, Discovery and Replay. With it, organizations can: Efficiently aggregate all of the necessary data, across different modalities, meshed environments and timelines providing a complete “big picture” Deliver a unified view of a user across their various digital identities, to eliminate gaps during investigations Identify conversation patterns and outliers/suspicious patterns in communications to enable further drill down Review associated documents and access patterns and histories associated with communications investigations Theta Lake Unified Search, Discovery and Replay uses a variety of technologies, including Generative AI, visualizations, dashboards and digital identity mapping along with rapid and accurate keyword search to help organizations produce the necessary records and search results, without over collecting data to help compliance, legal and risk management teams respond quickly to governance events.

Pouch Insurance unleashes multilingual AI tool

Pouch Insurance, leveraging the capabilities of the INSTANDA no-code insurance platform, has introduced a pioneering AI assistant named 'Goodie'.
West Bend and ZestyAI expand partnership to boost AI-driven property risk analytics

West Bend and ZestyAI expand partnership to boost AI-driven property risk analytics

West Bend Insurance, a personal lines insurer, has expanded its collaboration with ZestyAI, a leader in climate and property risk analytics.
Quantee, a leading InsurTech provider, has announced that Colombian insurance firm Seguros del Estado has joined its client base. 

Quantee partners with Colombian insurer Seguros del Estado to develop scalable insurance models

Quantee, a leading InsurTech provider, has announced that Colombian insurance firm Seguros del Estado has joined its client base. 
Akur8 and LWCC partner to revolutionize insurance pricing with advanced AI

Akur8 and LWCC partner to revolutionize insurance pricing with advanced AI

Akur8, known for its next-generation insurance pricing solutions powered by transparent machine learning, has recently teamed up with the Louisiana Workers' Compensation Corporation (LWCC).
The strategic advantage of unified loss control and policy admin systems

The strategic advantage of unified loss control and policy admin systems

In the competitive world of insurance, the profitability of underwriting is closely linked to informed decision-making that efficiently mitigates risks and optimizes loss ratios. Traditional barriers, primarily the compartmentalisation of data, often hinder this objective.
Ledgebrook's innovative push in InsurTech garners $17m Series B funding

Ledgebrook’s innovative push in InsurTech garners $17m Series B funding

Ledgebrook, the rapidly growing InsurTech firm, has successfully closed a $17m Series B funding round.
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Eleos Life has announced the launch of its new AI voice agent, designed to offer instant, around-the-clock assistance to customers without the frustration of wait times.

Eleos Life launches AI voice agent for 24/7 customer support

Eleos Life has announced the launch of its new AI voice agent, designed to offer instant, around-the-clock assistance to customers without the frustration of...
Pro Global, a leading advisor in the specialist insurance sector, has launched its own Solicitors Regulation Authority (SRA) registered law firm, to manage complex claims litigation.

Pro Global reveals Pro Legal to streamline complex claims

Pro Global, a leading advisor in the specialist insurance sector, has launched its own Solicitors Regulation Authority (SRA) registered law firm, to manage complex...
Cigna Healthcare, the American multinational managed healthcare and insurance company, has launched Clearity, a copay-only health plan designed to remove deductibles and coinsurance while showing members exactly what they owe before booking a visit.

Cigna unveils AI-powered health platform

Cigna Healthcare, the American multinational managed healthcare and insurance company, has launched Clearity, a copay-only health plan designed to remove deductibles and coinsurance while...
Neutrinos, a leading provider of AI-powered automation technology for insurers, has been selected by Mutakamela Insurance Company, a subsidiary of Abu Dhabi National Insurance Company (ADNIC), to develop a new digital platform for SME Health and Motor insurance services.

Mutakamela Insurance selects Neutrinos to power digital platform

Neutrinos, a leading provider of AI-powered automation technology for insurers, has been selected by Mutakamela Insurance Company, a subsidiary of Abu Dhabi National Insurance...
InsurTech startup Pibit AI, which builds AI-powered underwriting technology for insurers, has secured $7m in fresh funding as it looks to accelerate development of its platform and expand its team.

Pibit AI raises $7m to boost insurance platform

InsurTech startup Pibit AI, which builds AI-powered underwriting technology for insurers, has secured $7m in fresh funding as it looks to accelerate development of...
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