Business News: Gradient AI, Betterview, Flyreel and Snapsheet

August 28, 2020
Gradient AI Teams Up With Origami and Sapiens

Gradient AI has formed partnerships with Origami Risk and Sapiens to make Gradient’s claims and policy modeling and predictive modeling available on the Origami’s risk management and Sapiens’ workers’ compensation platforms.

Gradient, based in Boston, said in a press release that its product uses artificial intelligence to enable claims professionals to focus greater attention on claims with a high probability of being significant cost drivers.

“There’s no question that speed and accuracy in both claims management and underwriting have become paramount for insurers,” stated Gradient AI Chief Executive Officer Stan Smith. “The seamless integration of our tools with Origami’s capabilities will facilitate improved decision-making, faster responses and measurable improvements in claims experience and underwriting results.”

The partnership allows insurers, third-party administrators, risk pools and self-insured organizations to use Origami’s automation capabilities along with Gradient’s proprietary database, the company said.

Sapiens is folding Gradient’s predictive analytics function into its CoreSuite for Workers’ Compensation and Sapiens GO for Workers’ Compensation.

“Integrating AI capabilities into our core workers’ compensation suites will empower insurers to better forecast future probabilities via real-time insights,” stated Sapiens President and CEO Roni Al-Dor. “We are pleased to partner with Gradient AI and plan to expand its technology to our property & casualty and life core suites in the near future.”

AmCap Using Betterview for Property Claims

American Capital Assurance Corp. has deployed Betterview’s Remote Property Intelligence platform for commercial residential and office property claims.

AmCap, a carrier based in St. Petersburg, Fla., specializes in commercial property coverage for apartments, condominium associations, senior living facilities, houses of worship, strip retail centers and office buildings. Damage to large roof structures can sometimes go undetected and lead to larger losses and displacement of residents. Betterview will allow AmCap to more quickly review roof coverings and take action, the carrier said in a press release.

“AmCap Insurance’s Claims Department previously relied on multiple sources for pulling permit data and reviewing property images,” stated Tim Cotton, vice president of claims. “Betterview makes it easy to integrate current and historical imagery into the claims process for faster resolution.”

Betterview also accesses historical images, which helps detect fraud by showing roof condition over time, especially when evaluating damage after a storm, AmCap said. That is especially important because AmCap’s covers property in Florida, Texas, Louisiana and South Carolina and plans to expand to North Carolina and Georgia, the company said.

Mercury Deploys Flyreel in N.Y. and N.J.

Mercury Insurance is offering homeowners policyholders in New York and New Jersey the ability to conduct do-it-yourself home inspections using Flyreel.

Flyreel’s app guides homeowners through a self inspection of their property, helping them maintain their physical distance during the COVID-19 epidemic, Mercury said in a press release. The app canoe downloaded from Apple App Store or Google Play.

New Mercury policy owners will be emailed a link to to download the app and activate it. They app also helps policyholders catalog belongings and building materials in the event the customer needs to file a claim.

Flyreel, based in Denver, Colo., said its “digital intake” allows carriers to see rooms, assess condition and begin claims adjustment, triage and prioritization.

Kin Selects Snapsheet for Claims Management

Kin, an insurance agency, stock carrier and managing general agent that connects with customers digitally, has selected the Snapsheet Claims platform to provide claims management from electronic first notice of loss through settlement.

Kin, launched in 2016, recently raised $35 million from investors in a Series B funding round, Chicago-based Snapsheet said in a press release. Snapsheet’s online claims platform “further streamlines” the agency’s direct-to-consumer business model.

“By quickly enabling the automation of workflows, omnichannel engagement, and the ability to capture unique data and analytics, this partnership bolsters our growth by creating new efficiencies and better customer experiences,” stated Kin Chief Executive Officer Sean Harper.

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