Advertisement

Texas to Add New Fee to Insurance Form Filings Starting in September

texas to add new fee to insurance form filings starting in september

BEGIN ARTICLE PREVIEW:

Article
0 Comments

There will be an additional $20.50 fee on insurance form filings beginning Sept. 1 in Texas, the state insurance department has reported.
The Texas Department of Insurance said fee will support a technology project that uses artificial intelligence and increased automation to improve and speed review of forms. One fee covers all forms on a filing.

“Insurers file tens of thousands of policies for our review every year, and the legacy system is outdated. We needed to modernize,” Texas Insurance Commissioner Kent Sullivan said in a media release. “Cutting edge technology will allow us to complete reviews faster and help our staff focus on the issues that most need their attention and analysis.”
The initial phase of the project allows a comparison of each newly filed property/casualty form with every policy and endorsement approved by TDI since April 2014. It also checks that key information on a form is complete and consistent with other information in the filing.
Companies filed more than 26,000 property/casualty forms with the agency last year.
The initial phase of the project allows a comparison of each newly filed property/casualty form with every policy and endorsement approved by TDI since April 2014. It also checks that …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE

TPA Stream Launches TPA Stream Connect

tpa stream launches tpa stream connect

BEGIN ARTICLE PREVIEW:

CLEVELAND, Aug. 11, 2020 /PRNewswire/ — Cleveland-based insurtech software company TPA Stream develops software for third-party administrators (TPAs) and health insurance brokers to streamline daily manual processes. Its newest technology, TPA Stream Connect, provides developers with access to claims data from multiple sources and formats. 

Continue Reading

TPA Stream Connect affords businesses and downstream web and mobile application developers to seamlessly embed the technology into existing applications using TPA Stream’s claim webhooks and REST API.

TPA Stream focuses on building software solutions to provide unprecedented access to claims data and automate labor-intensive workflows. TPA Stream Connect affords businesses and downstream web and mobile application developers to seamlessly embed the technology into existing applications using TPA Stream’s claim webhooks and REST API.

“Building new products in the health insurance space is incredibly difficult. There are hundreds of insurance carriers with proprietary formats not looking to set up claim feeds for smaller employer groups or individual access use cases,” said Steve Fuhry, Chief Technology Officer at TPA Stream. “We built TPA Stream Connect to make it easier for developers to integrate health insurance data into their mobile and web apps.”
TPA Stream recently integrated TPA Stream Connect into the new Alegeus Smart Account App.  …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “TPA Stream Launches TPA Stream Connect”

InsureMyTrip Wins Sammy Award For Innovation Technology

insuremytrip wins sammy award for innovation technology

BEGIN ARTICLE PREVIEW:

WARWICK, R.I., Aug. 10, 2020 /PRNewswire/ — This week, the Business Intelligence Group named InsureMyTrip as a winner in the 2020 Sales and Technology Marketing Awards program, also known as The Sammys. The Sammys honor organizations and products helping to solve the challenges organizations have connecting and collaborating with prospects and customers.
“We are proud to reward and recognize InsureMyTrip for their innovation and dedication to helping both the organization using their technology and the ultimate consumer,” said Maria Jimenez, Chief Nominations Officer, Business Intelligence Group. “It was clear to our judges that their dedication and innovation will improve how we all connect with the brands we love. Congratulations!”
“Travelers must choose the right travel insurance — and I’m proud to say that our technology has helped travelers make that choice easy,” says InsureMyTrip Director of eCommerce Cheryl Golden. “We vow to continue helping customers find the right travel insurance and doing everything possible to exceed their expectations in this time of uncertainty.”
As the longest-running travel insurance comparison site, InsureMyTrip is proudly recognized as an industry trailblazer. Here’s just a few of the company’s many achievements over the years:
Anytime Advocates® — In 2007, InsureMyTrip became the first to provide travel insurance claims assistance …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “InsureMyTrip Wins Sammy Award For Innovation Technology”

Chubb Names Lupica President, North America; Krump Vice Chair, Global Underwriting, Claims

chubb names lupica president, north america; krump vice chair, global underwriting, claims

BEGIN ARTICLE PREVIEW:

Article
0 Comments

Global insurer Chubb announced appointments to two new executive positions.
Chubb has named John Lupica as president of North America Insurance, the company’s largest division. Lupica is currently vice chairman, Chubb Group, and president, North America Major Accounts and Specialty Insurance. His new role encompasses his current responsibilities.

Chubb also appointed Paul Krump as vice chairman, Global Underwriting and Claims. Krump is currently executive vice president, Chubb Group and president, North America Commercial and Personal Insurance. He will retain his current executive responsibilities for global claims and risk engineering.
Paul Krump
Both appointments are effective September 1. Both leaders will report jointly to Evan G. Greenberg, chairman and chief executive officer, and to John Keogh, executive vice chairman and chief operating officer.
Lupica
Lupica will have executive responsibility for all Chubb general insurance business in the United States, Canada and Bermuda including commercial property/casualty, personal lines, agriculture, and accident and health insurance. His scope of responsibility will include all products, underwriting, marketing and sales, claims, actuarial and support functions related to these business lines.
Lupica has 30 years of property and casualty insurance experience.
John Lupica
Prior to ACE’s acquisition of Chubb in January 2016, Lupica was vice …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Chubb Names Lupica President, North America; Krump Vice Chair, Global Underwriting, Claims”

Digitalized Life Insurance: How Life Insurers Can Realize Value From Digital – GC Capital Ideas

digitalized life insurance: how life insurers can realize value from digital – gc capital ideas

BEGIN ARTICLE PREVIEW:

While the new disruptive InsurTech companies were initially written off by carriers, citing woefully unprofitable combined ratios, they are trending positively and could soon see underwriting profits. Most recently, given the thousands of companies who have entered the market in the last five years, the focus is on partnerships in various forms. Incumbents are utilizing […]

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Digitalized Life Insurance: How Life Insurers Can Realize Value From Digital – GC Capital Ideas”

Tesla Insurance 101

tesla insurance 101

BEGIN ARTICLE PREVIEW:

Cars


Published on August 9th, 2020 |
by Carolyn Fortuna





August 9th, 2020 by Carolyn Fortuna 

This article about Tesla Insurance is also published as a resource page at cleantechnica.com/tesla-insurance/ and that page will be updated regularly. If you have anything you think should be added or changed in this article for that ongoing resource page, please let us know.

In August 2019, Tesla began selling its own insurance policies through a new company, Tesla Insurance Services. The insurance arm of the all-electric car company is assumed by State National Insurance, which coordinates the process of selling insurance. The actual risk of writing insurance policies is on Tesla’s shoulders.
Tesla Insurance is comprehensive coverage and claims management to support Tesla owners in California. While it’s not available right now in other states, the company does plan to expand to additional US states and other countries in the future. Tesla describes its in-house insurance as so financially competitive that it offers Tesla vehicle owners “up to 20% lower rates, and in some cases, as much as 30%.”
Of course, the cost of each Tesla Insurance policy varies based on the individual, including their driving record and other factors that can typically impact a …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Tesla Insurance 101”