Product Trends

STREAMLINING PROCESS

Prudential Invests in Group Life Insurance Distributed by Brokers. Apolice, August 8, 2022.

The Broker Portal has been improved to make the interface easier and streamline the service and issuance of VG policies.
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ICICI Lombard and Skit.ai Partner to Launch a First-of-Its-Kind AI-Powered Digital Voice Agent to Assist Customers in Tracking Their Claim Status . CXO Today, September 15, 2022.

ICICI Lombard can simplify the traditionally complex process of seeking claim status while focusing on customer experience and empathy. The digital voice agent will effectively reduce the average call handling time, improve call containment rates, and automate customer interactions through intuitive, human-feeling dialogue.

Google Cloud and HDFC ERGO Team up to Digitize Insurance Buying in India. Business Today Online, September 6, 2022.

Google's cloud computing division is partnering with HDFC ERGO General Insurance to build a platform to help digitize the buying and servicing of insurance in India, especially among millennials. HDFC ERGO will launch innovative insurance products and offer digital and personalized customer experiences.

ManipalCigna Health Insurance Launches ManipalCigna Sahi Cover, an Online Calculator to Help People Choose the Right Plan. PharmaBiz, August 16, 2022.

ManipalCigna Health Insurance launched the ManipalCigna Sahi Cover, Discover, an online calculator tailored to help people choose the right health insurance coverage. The calculator can be assessed 24/7 from anywhere.

AIA Thailand Launched an Online Claims Service (AIA iclaim) to Deliver a Great Customer Experience. Press release, August 9, 2022.

AIA iclaim is the newest service on the AIA iservice app. The service offers outpatient medical expenses (OPD), with the claim limit based on receipts of up to 10,000 baht per treatment. It includes dental benefits, eyeglasses, vaccinations, and health check-ups. Customers can also claim up to 35,000 baht per treatment for inpatient medical expenses. Daily compensation for hospitalization and compensation for benefits due to accidents is also offered. (Text in Thai)

Socotra App MarketPlace Goes Live with 30 App Publishers. Business Wire, September 12, 2022.

The Socotra App Marketplace currently offers access to 30 app publishers and is now available to Socotra customers. The App MarketPlace empowers insurers to instantly connect to a wide array of apps that improve every aspect of the insurance value chain.

USAA Life Partners with Human API. Coverager, August 19, 2022.

USAA Life Insurance Company is working with Human API to expand the use of digital health data in the life insurance underwriting process. It will implement Human API’s Health Intelligence Platform, including its patient portal network, HIPAA-authorized networks, and APS retrieval services.

HSBC Life Launches Service with Square Health and UnderwriteMe. InsurTech Digital, July 21, 2022.

HSBC Life UK, Square Health, and UnderwriteMe have partnered to create a digital underwriting service for medical screening requests. Medical screening requests can be sent to and received back immediately. The results are fed back to HSBC Life’s digital underwriting rules engine.

Insured Nomads Adopts the CoverGo Platform to Streamline and Digitize Their Health and Travel Insurance Business. Press release, November 9, 2021.

Insured Nomads and CoverGo have adopted CoverGo’s unique platform. It enables them to increase their products’ speed to market, and improve customer experience and operational efficiency. The unique, no-code product builder from Covergo allows Insured Nomads to build and launch new health and travel products in days.

Haven Technologies and Unqork Partner to Make Life Insurance More Accessible. PR Newswire, October 12, 2021.

Haven Technologies will focus on providing back-end solutions via their SaaS model. Unqork will help customers build front-end digital interactions, primarily involving distribution (agent/broker portals, eApps) and customer servicing (engagement and direct to consumer sales, customer portal, and self-serve).

Hy-Vee Medicare Aisle Launches Free Digital Quoting and Enrollment Tool Ahead of Medicare’s Annual Election Period Oct. 15-Dec. 7. Kiow, October 14, 2021.

Hy-Vee Medicare Aisle is a free service for all current Medicare beneficiaries as well as those individuals who are becoming eligible for Medicare. It offers a free digital quoting and enrolment tool available on www.MedicareAisle.com.

Anthem Blue Cross Collaborates with Keck Medicine of USC to Offer Patients an Alexa-Enabled Enhanced Health Care Experience. PR Newswire, October 12, 2021.

The Alexa skill is a 24/7 voice-activated way for members to navigate the Keck Medicine health care system quickly and seamlessly in multiple languages. Customers can find providers and make appointments.

Haven Technologies Launches Advanced Cloud-Native Insurtech Platform for Life, Fixed Annuities and Disability Industries. PR Newswire, October 4, 2021.

The newly launched Haven Technologies will leverage a SaaS model to make its solutions available to carriers. The platform has improved customer experience, provided faster time-to-issue of policies, and an increased ease of doing business for advisors.

Health Gorilla and Optimity Partner to Enhance Insurance Carriers Risk Assessment and Customer Engagement Capabilities. PR Newswire, October 1, 2021.

A strategic partnership between Health Gorilla and Optimiy will enable its U.S. clients to collect medical records electronically from Health Gorilla's clinical network. The partnership will increase the ability to create informed risk assessments and streamline underwriting.

Snapsheet, Socotra Launch Platform Solution to Deliver Modern Experiences Across Policy Lifecycle. Press release, September 30, 2021.

Snapsheet, an emerging leader in cloud-native claims management software, and Socotra, the cloud native insurance core platform, have a joint platform solution. The platform solution is in the cloud, and allows insurers to quickly deliver and scale new products.