Protective Insurance will leverage REIN’s InsurTech platform to evolve their data-driven strategy in commercial lines underwriting
Las Vegas, NV (Sept. 24, 2019) – Protective Insurance Corporation has teamed up with REIN to launch a data analytics program enhancing key areas of Protective’s operations. Through the partnership, Protective will utilize the REIN platform to build additional loss prevention capabilities across its commercial trucking line of business and expand the usage of data science in strategic areas.
“We believe that the data-driven insights and tools made possible by the REIN platform will ultimately help our customers prevent losses,” said Jeremy Johnson, CEO at Protective Insurance. “The end result is reduced costs, but more importantly, safer roads and fewer casualties. We chose to work with REIN not only because of the powerful toolset, but also the ease of incorporating the platform without disrupting our existing systems and processes.”
Protective Insurance Corporation is a property-casualty insurer with more than 85 years of experience providing coverage for the transportation industry. With an Equity Market Capitalization of more than $230M, Protective is a leading provider of insurance and risk management capabilities to the trucking industry.
In addition to data analytics, the REIN platform will provide Protective with configurable tools to digitize core business functions and streamline the development of new products and programs.
“Now more than ever, insurance carriers are looking for solutions that can quickly deliver insights to inform risk modeling, loss prevention and product personalization,” said Christopher Dean, CEO at REIN. “The REIN platform will assist Protective Insurance in their efforts to leverage data for the benefit of their customers, as well as providing tools for streamlining and expanding their digital offerings.”
About Protective Insurance
Protective Insurance Corporation (NASDAQ: PTVCA) (NASDAQ: PTVCB), based in Carmel, Indiana, is a property-casualty insurer specializing in marketing and underwriting property, liability and workers’ compensation coverage for trucking and commercial automobile fleets, as well as coverage for trucking industry independent contractors. In addition, the Company offers workers’ compensation coverage for a variety of operations outside the transportation industry.
Protective Insurance Company is licensed in 50 states, the District of Columbia, Puerto Rico and all Canadian provinces and provides coverage for trucking fleets of all sizes. We also offer a public transportation insurance program that provides comprehensive coverage for charter and tour bus companies, school bus contractors and limousine services.
For more information, visit www.protectiveinsurance.com.
REIN is an enterprise insurtech platform, solving the complexity of connecting insurance carriers with data-driven ecosystems and drastically accelerating the time-to-market for new integrated insurance products. Through its platform and AI-powered toolset, REIN enables insurers and digital ecosystems to better engage their customers by offering integrated and personalized insurance products where they are, when they need it. Learn more about REIN at www.REIN.ai.
SOURCE: REINTags: InsurTech, platform, Truck