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ITA Pro Weekly, July 17,2020

Tech and MGAs, The Helper Bees on insurance and home care, SpottedRisk and OWIT Global, and more….

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Hot off the presses!

With mature, technologically advanced infrastructure, modern MGAs are often more agile, responsive, lean, and tech-forward than incumbents. In a new blog post, Travis MacMillian of Xceedance looks at how changing technologies are requiring modern MGAs to follow a “jack-of-all-trades” mindset by wearing many hats and leveraging multiple competencies.

“If MGAs want to optimize workflows, streamline policy lifecycles, enhance operational efficiency, lower costs, and, most importantly, enhance customer experience, it is important to partner with technology service providers who can offer the right tools with a keen understanding of the core business. Through collaboration and partnership, modern MGAs can innovate and make progress towards the realization of full potential.”

 

From omnichannel to digital transformation to AI, the InsurTalk podcast from Guidewire brings you expert insights from people who have driven innovation and turned possibilities into realities. Check out the first few episodes, featuring leaders from Aviva Italy, Economical Insurance, WSIB, and Farmers Insurance.

 

Char Hu is CEO of The Helper Bees, the first and only company to use data analytics to help long-term care practitioners deliver intelligent interventions. The company utilizes innovative technology to help long-term care providers reduce costs and improve outcomes by providing real-time data from the home. In a new Electronic Chat, Hu discusses his company’s new alignment with CNA on its “View from Home” program, the impact of COVID-19 on nursing homes, and more.

“The current focus of the aging-in-place industry is on building a more connected, seamless, and technology-driven experience. While this is a critical goal, we need to ensure that the human component is heavily integrated into the design of products in order to create a better model of care. We are already taking steps to be the central hub of everything it takes to remain at home. To this end, our goal is to be the human API for the home -- where all new devices route through The Helper Bees are selected to deliver service to the care recipient, because ultimately you will need a fantastic person in the home to realize the full potential of all this new aging-in-place technology.”

 

OWIT Global, a provider of insurance-specific microservices solutions for the global insurance industry, has been working with SpottedRisk, a data-driven managing general underwriter (MGU) to automate policy processing and bordereaux management for its specialty lines insurance business.

 

“The OWIT Global team engaged as an extension of our team from the outset, helping us navigate the critical phases of our specialty lines project and aligning the plan appropriately,” said Nicole Haggerty, Chief Operations Officer of SpottedRisk. “Their modern, open technology easily integrates with our large database of entertainers and public figures, resulting in genuine underwriting of each submission. Plus, OWIT Global’s Bordereaux management solution automates the reporting from day one with both London Coverholders and US Carriers, and will support our plan to scale with other carriers in both markets.”

 
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