Insurtech Weekly News: Aug. 26

USAA integrated the technology into its SafePilot telematics program. It has generated more than 36,000 notifications since its launch in November 2021, the company said.

The technology uses the smartphone’s smart sensors within the app to detect potential collisions, after which it notifies policyholders to confirm whether an accident has occurred. When an accident is confirmed, the app provides useful information such as a safety guide for the accident, the option to provide assistance using a turn-by-turn system or call 911 directly from the app.

“Using telematics and crash detection technology, we can provide seamless member access and rapid response to incidents,” Luke Harris, USAA’s vice president of innovation, said in a prepared statement.

It’s Bay

California-based cyber MGA At-Bay has acquired Relay, an insurtech focused on modern insurance solutions.

Neither party has disclosed financial details.

Relay, based in Toronto, will continue as an independent entity under its own management team. Founded in 2019, Relay offers a broker-friendly digital marketplace for a variety of unique trading lines, with a focus on cyber. CEO and co-founder Greg Boutin said his company “immediately felt a strong connection” with the At-Bay team and sees the acquirer as “a great leader in the mass transportation platform.”

Relay Access is designed to complement At-Bay’s distribution system by empowering brokers and partners with cutting-edge technology. This includes a dedicated broker platform and partner API technology.

Camillio/BTIS

Insurtech platform Kamillio is partnering with small insurer Builders & Trademen’s Insurance Services (BTIS) in a move that will expand its presence from Canada to the US market.

BTIS will use Kamillio’s organizational management along with his expertise, something that BTIS president Paul Hohlbein said in a prepared statement “will transform the industry by doing business end-to-end in one information system, unlike many ineffective systems.”

The Kamillio platform is designed to streamline and optimize back office processes, reduce operational costs and help organizations create more products and services.

BTIS is a global insurance intermediary that offers a wide range of business lines, and develops and implements the most advanced technology to help empower customers with information.

Company proposal BrokerTech Ventures

BrokerTech Ventures is marking its third year.

The operation is the first broker-led joint venture and accelerator program focused on bringing innovation to the insurance industry. It was launched in 2019 at InsureTech Connect in Las Vegas, the world’s largest annual insurance technology conference.

“When we started BrokerTech Ventures, we knew there was a need for an insurance business, dedicated specifically to the broker side of the equation,” Dan Keough, Holmes Murphy chairman and CEO, and CEO of BTV, said in a prepared statement. “Until BTV was founded, there was none. efforts to bring together brokers, innovators, investors and companies to find, research and bring to market solutions based on customer needs.”

predictions

Previsico, a UK-based insurtech, has launched flood forecasting services in the US.

The launch is in partnership with Nexus Alpha USA and aims to help reduce flood losses for insurers and their clients in the US.

Previsico started in 2019 as a spinout from Loughborough University in the UK with a focus on preventable word flooding. The company’s flood warning services support brokers and insurers including Liberty Mutual and Zurich, as well as their clients. Underwriters who work with Lloyd’s argue that Previsico’s warnings can eliminate 70% or more of business losses for businesses that have a flood plan and robust strategies in place.

Driver / Regular

Driver Technologies and Stable Insurance are teaming up to offer a dash cam discount for motorists.

Driver Technologies is an AI-based technology company that provides better driving experience. Stable Insurance is an insurtech MGA focused on rideshare drivers and fleets.

Stable is offering insurance to rideshare drivers up to 20% cheaper if the drivers agree to use the dash cam. Rideshare drivers also lower their collision from $1,000 to zero if the driver is using the dash cam during an “off app” crash. As part of the agreement, Stable will provide the first version of Driver Technologies’ Driver: Dash Cam and Safety app to insured drivers.

The DriverPremium offering will also allow drivers to access their DriverCloud to view their telematics data and videos so they can train themselves and share videos for their own purposes. If rideshare drivers don’t have compatible devices, Driver and Stable will equip them with iPhone SE or newer iPads with the Driver app and accessories like a dash cam mount.