Contest Alert: Inaugural Insurtech Award For Insurance Agencies
ePay Policy, which partners with the MAIA, recently got in touch with Agency Checklists about the launch of its new ePayPolicy Insurtech Award. The award seeks to single out an insurance agency that has best embraced and leveraged technology to grow its sales and marketing.
The winning agency will receive $7,500 in prizes, including a $1,000 cash prize, complimentary consulting time with insurance experts Mike Stromsoe and Chris Paradiso, a free two-year subscription to ePayPolicy’s payment processor, and more (terms and conditions apply).
“Insurance is one of the oldest industries in business,” said Todd Sorrel, one half of ePayPolicy’s co-founding team. “Change can be really difficult, so we very much want to put a spotlight on an agency that is not only willing to adapt to change and emerging tech, but is doing it with style and finesse.”
The award is both free to apply and open to any insurance agency across the U.S. ePay is encouraging organizations big and small to apply as the winning agency will be chosen based on it their utilization of technology within their agency rather than the agency’s size.
The ePayPolicy InsurTech Award is the brainchild of Sorrel and Milan Malkani, ePayPolicy’s two co-founders.
Applications are being accepted from May 2nd through Wednesday, August 1, 2018. Apply here.
“What’s incredible about the InsurTech Award is that every agency in the nation has an equal opportunity to take this award home,” said Malkani. “And, all applicants will receive value just for applying, regardless of if they win or not.”
As an added benefit, every award applicant will be judged using the Insurance Technology Adoption Score (i.e., “ITA Score), a subjective measure of an agency’s competitive standing in the insurance space. Applicants will be sent a comprehensive report with their score, along with tips and opportunities to improve that score using technology.
“There’s just so much opportunity for agencies to win new business with the help of technology,” added Malkani. “We’re hoping this award will shed light on the importance of embracing new tech in our industry.”
Super Duper Discount Code For InsurtechBoston’s Spring Jam ’18
With itbV only three weeks away, Allan Egbert and Michael Albert, the co-founders of InsurtechBoston & Ask Kodiak, have whipped up a special discount code for Agency Checklists readers who haven’t gotten their tickets yet.
All you need to do is to enter the code “agencychecklists-itb5” for your discounted ticket to the event.
Like itbIV InsurtechBoston V will be taking over the entire District Hall to make sure there is enough room to hang out and network all night long. This next installment might be of interest to many of our agent readers out there with Agency Nation’s Ryan Hanley in attendance, in addition to start-up stories from Corvus and Bold Penguin.
To see the full agenda of events as well as to register, head on over to the Insurtech Boston website here.
Corvus Insurance debuts Smart Cargo Insurance™
Boston-based Corvus Insurance, a Commercial InsurTech company and one of the start-up stories appearing in InsurtechBoston’s Spring Jam ’18 has just announced the launch of its new Smart Cargo Insurance™ products for Life Science companies. The following is direct from their press release:
Analyzing data from Sensitech temperature sensors that are already used in the shipments of goods that are subject to spoilage and compares that data set of millions of shipments in order to “score” the temperature stability for each individual manufacturer/shipper of goods. This Corvus Cargo Score can be used by commercial insurance brokers and buyers to predict and prevent loss. For prospective policyholders that have the best scores, Corvus offers insurance with lower prices and broader coverage.
“Sensitech has long focused on ensuring product quality, safety and regulatory compliance by placing sensors in the supply chain to collect and report data such as temperature, humidity, and location,” said Mike Hurton, Vice President & General Manager, Sensitech Inc. “Sensitech’s ColdStream® CCM data platform is the foundation technology, which enables customers to view their supply chain holistically in order to focus efforts where there are opportunities for risk reduction and cost savings. Enabling customers to leverage the information collected through our ColdStream® technology platform presents a high-value opportunity. Our affiliation with Corvus and its Smart Cargo Insurance offering represents an “opt-in” program where customers can leverage supply chain performance data in a way that drives additional value.”
Corvus uses its innovative technology and digital platform, the CrowBar™, to monitor new information from ongoing shipments. If the CrowBar technology spots negative trends or if the temperature stability score changes, the broker and policyholder are informed and provided actionable recommendations. This ongoing digital inspection service, called Dynamic Loss Prevention™, will allow underwriter, broker and policyholder to align interests in identifying and acting upon deteriorating temperature stability before a claim is caused.
“Corvus exists to bring differentiated commercial insurance products to market that reduce the overall cost of risk and make the world a safer place.” Said Philip Edmundson, founder and CEO of Corvus. “We have recently received funding from Bain Capital Ventures to build an ambitious new technology-driven approach to underwriting and risk management focused on the commercial insurance market and the brokers that serve commercial insurance buyers.”
Smart Cargo Insurance™ policies are distributed by Corvus on a Managing General Agency basis with its partner, Argo Group. Policies will be distributed by independent brokerage firms across the United States.
“This partnership allows us to continue to provide customers with innovative, digital solutions for niche markets,“ said Alan Wynn, SVP, Argo Group US, Alternative Risk Solutions. “We are pleased to partner with Corvus for the Smart Cargo Insurance™ product.”
