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INSURANCE INDUSTRY NEWS
CCC Publishes 2019 Crash Course Report
CCC Information Services Inc. has announced the availability of its 2019 Crash Course report, a data-driven look at the business drivers and technology trends impacting the automotive industry. The report explores how the auto industry is reimagining and transforming itself to address fundamental shifts in vehicle technology, car ownership, and consumer demand for modern, self-directed experiences.
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Consumers Will Share Data For Discounts
Nearly 60% of consumers would be willing to share significant personal information, such as location data and lifestyle information, with their bank and insurer in exchange for lower pricing on products and services, according to Accenture's global Financial Services Consumer Study, which found that more than half of consumers would share that data for benefits including more-rapid loan approvals, discounts on gym memberships, and personalized location-based offers.
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Insurers Embrace Machine Vision For Claims
As unstructured sources of photo and video data continue to proliferate, machine vision technology offers insurers the ability to automate, scale, and enhance risk evaluation while seeing gains in operational efficiency and cost reduction. In a new report, research and advisory firm Novarica provides an overview of machine vision technology and current use cases in insurance, as well as profiles some emerging providers in this space.
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Enhanced Telematics From Verisk & TrueMotion
Verisk, a leading data analytics provider, has announced an agreement with TrueMotion, the world's leading smartphone driving data platform, to offer integrated telematics solutions for insurers that combine TrueMotion's mobile data with Verisk's driving behavior analytics.
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Nationwide, Slice Partner For Rideshare Drivers
Rideshare drivers in the U.S. seeking auto insurance solutions to meet their needs have to run a complex gauntlet. Nationwide has taken an innovative step to develop on-demand rideshare insurance solutions for drivers who work for transportation network companies (such as Uber and Lyft) through its new partnership with Slice Labs, an insurance cloud services platform provider.
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USAA Joins Roost's Home Telematics Program
Roost is pleased to announce that USAA has joined Roost's Home Telematics Program (HTP). In partnership with Willis Towers Watson, the HTP's mission is to apply advanced analytics to reveal meaningful insights regarding the effect of home telematics on loss mitigation and member engagement.
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Verisk Launches Geomni Vision With Aerial Imagery
Geomni, a Verisk business, is pleased to announce a new subscription service called Geomni Vision, which will provide users with access to the industry's most comprehensive library of aerial imagery.
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CAA Now Covers Shared Economy Bookings
CAA Travel Insurance has added a new feature to its Trip Cancellation and Interruption Coverage to include bookings made through alternative lodging platforms, like AirBnB, HomeAway Family Companies, and Trip Advisor rentals. CAA is one of the first companies to provide coverage for shared accommodations bookings in Canada.
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Hansard Selects SaaS-Based Majesco Solutions
Majesco, a global leader of cloud core insurance software, is pleased to announce that Hansard Global plc, a FTSE listed business headquartered on the Isle of Man, has selected Majesco Life IllustratePlus, Majesco Life AdminPlus, and Majesco Life DistributionPlus to support its ambitious growth plans.
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ISO Solutions For Insuring ADAS-Equipped Vehicles
ISO has introduced new solutions to help auto insurers underwrite and price coverage for the growing number of cars with advanced driver assistance systems (ADAS). ISO is a Verisk business and a leading provider of forms, rules, and rating information for the property/casualty insurance industry.
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Companies Increase Focus On Employee Benefits
Just a handful (12%) of Canadian employers are currently differentiating their benefit programs for recruitment and retention. However, this is projected to change considerably over the next three years when nearly three-quarters (72%) expect to do so, starting with customizing benefits for critical workforce segments, according to a new survey by Willis Towers Watson.
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IBAO Supports #FightFraud Campaign
In response to the recent announcement of Desjardins Insurance and Aviva Canada’s joint investigation on the fraudulent distribution of auto insurance policies, the Insurance Brokers Association of Ontario (IBAO) lends its support and applauds both organizations’ efforts to combat fraudulent activity within auto insurance in Ontario.
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MORE TH>N Launches New Rewards Scheme
Insurer MORE TH>N has launched MORE TH>N REW>RDS, a new cashback scheme to help loyal customers offset the cost of renewing their insurance. The scheme gives home, pet and car insurance customers unlimited cashback on purchases at hundreds of high street and household brands, stored in an online wallet.
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Karantis360 Taps IBM For Assisted Living Solution
UK care management start up Karantis360 has turned to IBM to help build a new solution that uses sensors and Watson artificial intelligence running in the IBM Cloud to enable people who need assistance to live more independently in their own homes.
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Don't Wish Potholes Away—Drive More Skillfully
The transition to spring often involves an increase in potholes and uneven roadways. These infamous road hazards can damage vehicles and cause drivers to lose control. According to a new Léger poll conducted on behalf of Allstate, most drivers use the wrong techniques when approaching potholes.
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