Google buys minority stake in insurance agency software provider, Applied Systems

Insurance Agency Software - Google

The purchase was made through CapitalG, Alphabet’s growth equity investment fund. Google has purchased a minority stake in a company called Applied Systems, which provides insurance agency software, cloud based software and other tech for independent agencies. CapitalG was also the investment firm behind the funding for Airbnb, Lyft, SurveyMonkey and Zscaler. CapitalG is the growth equity investment fund at Alphabet, Google’s parent company. As of the time of the writing of this article, neither CapitalG nor Applied Systems have disclosed any of the financial details of the deal. That…

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Allianz reveals self insurance products blockchain prototype

Allianz blockchain self insurance products prototype

The global insurer has unveiled a new type of prototype designed for up and coming forms of coverage. Allianz has unveiled a brand new type of blockchain prototype which has been designed for self insurance products. It was first announced yesterday and reflects a new form of insuring customers that many predict will be a defining way for the industry to move ahead. The prototype makes it possible for a company to create a self insurance or captive type of policy. Using this form of blockchain prototype, Allianz can equip…

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Veruna Launches, Delivering Dynamic, Flexible Technology to Empower Insurance Agencies

Independent insurance agencies have suffered through restrictive agency management technologies for decades. The launch of Veruna marks a new beginning and new approach to the technology backbone of insurance agency management. Veruna has already grabbed the attention of the insurance industry by winning the 2016 ACORD Insurance Innovation Challenge, an annual insurance technology competition that identifies significant and sustainable innovation for the insurance industry. The company is also a recipient of a 2016 ACORD Leadership Award, a prestigious honor that recognizes those who have gone above and beyond in guiding…

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Software is making the insurance industry more efficient

health Insurance Technology

Technology is becoming a powerful tool for insurance companies IBISWorld, a global business intelligent organization, has released a new report concerning the effect that new technology is having on claims processing in the U.S. Claims are nothing new for the industry, but how insurers deal with the claims they receive has been evolving rapidly over the years. As new technology becomes available, insurance companies are finding better ways to manage claims and process these claims at a more rapid pace. Insurers are also become more adept at weeding out fraudulent…

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Software is making the insurance industry more efficient

Insurance Industry software

Technology is becoming a powerful tool for insurance companies IBISWorld, a global business intelligent organization, has released a new report concerning the effect that new technology is having on claims processing in the U.S. Claims are nothing new for the industry, but how insurers deal with the claims they receive has been evolving rapidly over the years. As new technology becomes available, insurance companies are finding better ways to manage claims and process these claims at a more rapid pace. Insurers are also become more adept at weeding out fraudulent…

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Insurance Industry Rapidly Adopts Touchstone, AIR’s Next-Generation Platform

Insurance industry standards and technology

BOSTON, July 18, 2013 — The insurance industry is rapidly adopting TouchstoneTM, AIR Worldwide’s next-generation catastrophe modeling platform. Since the new software’s release in January 2013, Touchstone has gained wide acceptance across the marketplace by some of the largest insurers, reinsurers, and intermediaries. “With the release of Touchstone, AIR is offering a robust and reliable platform that we can easily integrate into our proprietary catastrophe management system, APEX,” said Alan Calder, group head of catastrophe risk at Aspen. “Part of our risk management strategy is to evaluate and understand multiple…

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SAS wins innovation award for insurance fraud prevention technology

Insurance industry News

SAS® Fraud Framework for Insurance recognized by Strategy Meets Action (SMA) Business analytics leader SAS was recognized by leading insurance strategic advisory firm Strategy Meets Action (SMA) with its SMA Innovation in Action award for SAS® Fraud Framework for Insurance. This honor spotlights how new technologies can help modernize, optimize and innovate insurance practices. “SAS, the winner in the IT solution provider category for SAS Fraud Framework for Insurance, provides a cutting-edge solution by combining key next-generation technologies to help insurers detect and prevent both opportunistic and organized claims fraud,”…

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