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ITA Pro Weekly, August 16, 2019

The Hanover, Peel Mutual, Sompo Holdings Asia, and other news from the ITA

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Hot Off The Presses!

OWIT Global Announces Refinements to its Cloud-based Bordereaux Service for Accident and Health, Property and Casualty Insurance

 OWIT Global, the leader in microservices technology for the global insurance industry, has rolled out further enhancements to its Bordereaux Service. Available for all insurance entities in the insurance value chain, OWIT Global’s Bordereaux Service simplifies the importing, cleansing, processing and exporting of Bordereaux data.

For brokers, carriers and reinsurers, OWIT’s Bordereaux Service provides automation for the incoming data from multiple entities.  The data is imported, validated for accuracy, mapped to the carrier data structure and imported into the carrier database.  Data can also be retrieved for reporting and viewed through an analytics tool.
 
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DataCubes Selected by The Hanover to Leverage Automation in Its Underwriting & Risk Analysis Process

 DataCubes, a leading decision automation platform for commercial P&C underwriting, announced today its partnership with The Hanover Insurance Group, Inc., a leading property and casualty insurance carrier. Through the agreement, The Hanover will leverage DataCubes’ underwriting technology to enhance its agents’ experience with appetite and quoting transactions as well as streamline its underwriting process.

“We are proud to be helping The Hanover enhance its ability to efficiently gather underwriting information while identifying exceptions and unique characteristics on risks that may warrant additional review,” said Kuldeep Malik, DataCubes co-founder and CEO. “The Hanover will maintain its high underwriting standards and improve the experiences of its agency partners by  increasing quote accuracy and turnaround time.”

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Peel Mutual Selects Guidewire InsurancePlatform with Cloud Delivery
Through Deloitte


Peel Mutual Insurance Company, one of the largest members of the Ontario Mutual Insurance Association, and Guidewire Software, Inc., provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Peel Mutual has selected Guidewire InsurancePlatform™* to modernize its technology infrastructure and optimize customer and broker engagement. Peel Mutual will be accessing the Guidewire products in a private cloud through Deloitte InsurCloud, with implementation, ongoing services, and support provided by Deloitte, a Guidewire PartnerConnect™ Consulting Premier member.

Peel Mutual selected InsurancePlatform, hosted on InsurCloud, to provide an integrated foundation that offers a holistic user experience, transforming how they do business and enhancing their commitment to serving their brokers and policyholders with superior customer service. The company will be implementing all of the products at the same time, running new business and converting renewals onto the new systems.

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Slice and SOMPO Announce ICS Proof-of-Value Contract Bringing On-Demand Insurance to Asia

Slice Labs Inc., the first on-demand insurance cloud platform provider, announced today that it has entered into a proof-of-value contract with Sompo Holdings Asia (SOMPO), regionally headquartered in Singapore and part of Sompo Holdings, a top Japanese insurer.

This new partnership brings on-demand insurance to the fast growing Asia Pacific region of Asia, the first of its kind. SOMPO will license the Slice Insurance Cloud Services (ICS) platform to quickly deploy and test new digital insurance products. Compared to other, more traditional solutions, the Slice ICS platform allows insurers, like SOMPO, to leverage the flexibility, scalability, and security of ICS through a high-value subscription model.

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