Aon partners with Latium to release IoT-powered risk mitigation solutions
Key Insights and Signals in Insurance
Deals and Deal Renewal Bupa signs three-year deal with Circle Health Group Under the terms of the deal, Bupa will continue to provide its private healthcare services to the Circle Health Group, owner of BMI Healthcare. This includes streamlined consultant booking processes, rolling out key Bupa specialist care centers for oncology, and exploring pathway management for MSK, cardiology, and skin cancer. Read More>> Cigna and Hartford HealthCare agree to keep quality care affordable Cigna and Hartford HealthCare will ensure Cigna customers access Hartford HealthCare’s hospitals, facilities, and providers at predictable and affordable rates through technology-driven personalized solutions. Read More>>Partnerships Zesty.ai equips Amica Insurance with AI technology to underwrite wildfire policies Amica will leverage Zesty.ai’s predictive wildfire risk analytics solution, Z-FIRE, for homeowners. The model has been trained on over 1,400 wildfire events across more than 20 years of historical loss data, including topography and historical climate data. Read More>> Aon partners with Latium Technologies for risk mitigation tool Aon will introduce Latium’s Job Site Insights (JSI) Internet of Things (IoT) application and suite of products as a foundational risk mitigation tool for contractors and owners. It will prevent incidents, realize lower insurance costs, and obtain comprehensive terms for their insurance coverage. Read More>> Aviva, Darwin, and 02 announce passenger shuttle for autonomous vehicle trial The companies registered a passenger shuttle with the support of the O2 network. The shuttle, created by Navya, will be used to demonstrate the potential of self-driving cars and information gathering. Aviva will use data to evolve its motor insurance products and provide comprehensive cover for autonomous vehicles and associated technologies. Read More>> AXA Partners creates a claims system for car rental firm CarTrawler The company is the underwriter of CarTrawler’s car hire excess insurance business in over 30 territories worldwide. AXA Partners will provide value-added services to support CarTrawler’s growth strategy and expansion plans into new areas. Read More>> Clover Health integrates Clover Assistant with athenahealth’s Market-leading HER Through this initiative, the Clover Assistant will leverage athenahealth’s Platform Services API to help ensure key patient data is synchronized across both systems behind the scenes, enabling physicians to focus on patient care instead of cumbersome documentation. Read More>> Lucina Analytics to provide maternity solutions for Summit Reinsurance Services, Inc. This will enable cutting-edge analytics to identify high-risk pregnancies among Summit Re’s managed care clients, thereby helping to reduce preterm births and maternal mortality. Read More>>Mergers and Acquisitions Aon acquires the remaining 51% of Aon India Insurance Brokers, Formerly Anviti Aon acquired a 49% stake from Catamaran Ventures in the Indian broking firm Anviti Insurance Brokers Private Limited in 2020. Anviti was founded by Catamaran in 2016 and subsequently rebranded as Aon India Insurance Brokers Private Limited in June 2021. Read More>> Centene to consolidate its Medicare Advantage plan branding under Wellcare The company closed its acquisition of Wellcare Health Plans in January 2020, which led to a slew of disparate MA brands across 33 states. The brand names consolidated under Wellcare include Allwell, Health Net, Fidelis Care, Trillium Advantage, ‘Ohana Health Plan, and TexanPlus. Read More>> Healthcare Dealmakers—Ginger, Headspace’s USD 3 Bn mergers; UnitedHealth Group and Change Healthcare’s DOJ deal Healthcare mergers and acquisitions are in no short supply as providers, health tech companies, payers, and other industry players look to expand their businesses and gain a competitive edge. Read More>>Executive Movement AIG names CEO Zaffino as Chairman Peter Zaffino would take on the additional role of board chairman, replacing Brian Duperreault. Zaffino became AIG’s seventh CEO since 2005 in October last year when the insurer, among the top 10 U.S. carriers by market value, approved a plan to separate the life and retirement business from the rest of the company. Read More>> Anthem exec named CEO of CityMD parent company Summit Health Anthem Health Solutions and IngenioRx executive VP Jeffrey Alter are taking over the parent company of New York’s metro urgent care chain CityMD. Alter takes the helm after four years of serving on the board of the company. He was appointed Exec. VP of IngenioRx last September. Read More>> Canopius lines up Gavin Phillips as its next CFO Phillips’ appointment follows current CFO Nigel Meyer’s decision to step back from his role in March 2022 to concentrate on establishing a portfolio of non-executive appointments. He brings extensive experience in financial leadership and spent almost three decades at PwC working with some of their largest global and domestic insurance clients. Read More>> Centene names Sarah London Vice-Chair; appoints Brent Layton as President & COO During their time at Centene and throughout their careers, Sarah and Brent have demonstrated innovative leadership. Their strategic decision-making was responsible for Centene’s next phase of growth. Read More>> MetLife names Michael Roberts as Chief Marketing Officer Roberts comes to MetLife from The Vanguard Group, where he served as chief marketing officer for the Retail Investor Group, the company’s direct-to-consumer business with more than USD 2 Tn in assets under management. Read More>> Zurich hires Chubb exec for US middle market Carl Sutter will manage Zurich’s distribution model in the middle market business unit and its regional field distribution team, representing all Zurich business units and including executive leaders across the entire Zurich organization. Read More>>
Latest Industry Insights from Draup Braindesk
Companies shape their digital ambition, strategy, and business case based on a deep and broad analysis of trends and capabilities.
The extended reality in employee training – Tapping into AR/VR for training and development enabling employees to attend induction or training from any location without the feeling of being remote using 3d simulations.
Blockchain-based Electronic Health Record (EHR) – Electronic versions of patient medical history that are real-time and make information available instantly and securely to authorized users. Insurance firms utilize this to design policies or manage policy claims for the insured/policyholder.
Automated First-Notice-of-Loss (FNOL): Automated notification or reporting to the insurance providers for insured asset’s loss, theft, or injury, shortening the claims processing time reducing in-bound complexities with effective claims management
Ascend raises USD 5.5 Mn in seed funding to modernize the industry’s financial infrastructure
Ascend’s APIs automate insurance payments. It will enable buy-now, pay-later financing to the distribution of commissions and carrier payables. The funding will evolve its product. The company will focus on go to market initiatives and hire new team members. Read More>>
Startup Spotlight
Company – Brella Insurance Total Funding – USD 22 Mn About: Bella partners with brokers and employers to puy cash to employees if they’re diagnosed with any of 13,000+ covered conditions. They can use it to pay medical bills or to recover. They use technology to approve claims quickly and issue payments quick. Read More>>
Latest Reports Published in Draup
Healthfirst Account Intelligence Report: Healthfirst offers comprehensive health insurance coverage with products for individuals and small business owners. The company uses technology to deliver care at a distance, allows healthcare providers to evaluate, diagnose, and treat patients without in-person visits. Read More>>
Allianz SE Account Intelligence Report: Allianz focuses on investing in a digital platform to integrate insurance products and services to offer customers a trustworthy and digital car-purchasing experience. It is keen on expanding its business and services to serve other regions and countries and marine protection-related engagements. Read More>>
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