Breaking News
West Bend Mutual Insurance Company Accelerates its Underwriting with Verisk Solution
West Bend Mutual Insurance Company is transforming its underwriting and customer experience by tapping the high-quality data and analytics of LightSpeed® Small Commercial from Verisk, a leading global data analytics provider.
LightSpeed Small Commercial delivers a powerful mix of data and analytics on risk exposures through a single application programming interface (API). It enables insurers to automate underwriting and increase straight-through processing of insurance applications and renewals to help shrink underwriting times from days to seconds.
“We chose to partner with Verisk because of the accuracy of their data,” said Adam Vander Weerdt, Manager, Commercial Lines Product Management at West Bend. “Their validation process stands out in a crowded marketplace, and it gives us the confidence to make data-driven decisions.”
Verisk’s innovative artificial intelligence (AI) and machine learning (ML) algorithms have unlocked new underwriting insights from unstructured data sources, such as social media, to help identify exposures that may otherwise be missed. The solution combines robust data models, built by insurance experts, with Verisk’s proprietary business firmographics, site-verified and modeled property data and management activity insights. Designed to simplify the underwriting process, LightSpeed Small Commercial enables insurers to access deep underwriting intelligence using just a business name and address.
“High-quality data is the lynchpin of successful underwriting, but it requires deep domain expertise to deliver actionable insights that help drive insurer results,” said Tracey Waller, director of small commercial underwriting at Verisk. “By leveraging a unique combination of AI/ML technologies and our renowned data assets and expertise, LightSpeed Small Commercial can create transformative workflows that enable insurers to quote and bind business nearly instantly.”
- Generative AI in Banking: From POCs to Front-Office Impact Read more
- EXCLUSIVE: “Chain Reaction” – Sergey Nazarov and Fernando Vazquez, Chainlink in ‘The Paytech Magazine’ Read more
- FF Tattoo Studio: Datavillage on Privacy-First Data Collaboration and Faster Fraud Investigations Read more
- Chancellor Unveils Plans to “Supercharge” Growth of Innovative Financial Services Firms Read more
- Standard Chartered Partners With Dandelion to Enhance Real-Time Cross-Border Payments Read more
Majesco Launches MGA Model Office for P&C CoreConnect, Delivering an Innovative, Production-Ready, On-Demand MGA System
Majesco announced the launch of the Majesco P&C CoreConnect’s MGA Model Office, an innovative, fully pre-configured MGA system
OpenDialog launches Rhea – The AI Re-Engagement Agent Helping Insurers Recover Lost Quotes and Boost Conversions
OpenDialog today announced the launch of Rhea, a new AI-powered re-engagement agent designed to help insurers recover customers
Federato Launches the First Enterprise-grade Agentic AI for the Insurance Industry
Federato announced a first for insurance with the launch of enterprise-grade agentic AI, solving a critical problem in the industry
Bajaj Life Launched the Upgraded Bajaj Life Insurance App for a Smarter & Simpler Life Insurance Experience
Bajaj Life, one of India’s leading private life insurers, today announced the launch of its upgraded and enhanced customer app – Bajaj Life Insurance App. The app integrates an extensive suite of features to simplify policy management, personalised product offering, pre-approved insurance offers, and health tracking, all within a single, secure platform.
Duck Creek Technologies Wins IDC FinTech Real Results Award for Insurance Transformation
Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announced it has been named a co-winner in the 2025 IDC FinTech Real Results Awards in the Insurance Transformation category. The award recognizes Duck Creek's work with HDFC ERGO General Insurance Company, India's leading private sector general insurer, showcasing measurable, future-enabling change in the insurance industry.
Simply Business Pioneers First-of-its-Kind AI Advisor to Simplify Insurance for Small Business Owners
Simply Business, LLC, the leading digital marketplace for easily finding, comparing, and buying tailored small business insurance in the U.S., today announced the launch of its first-of-its-kind AI-powered insurance advisor, transforming the insurance buying process for entrepreneurs.
Insurance Development Forum Announces First Close of Infrastructure Resilience Development Fund
The Insurance Development Forum (IDF) is pleased to announce the successful launch of the Infrastructure Resilience Development Fund (IRDF). The IRDF, managed by Global Infrastructure Partners (GIP), a part of BlackRock, is based on the Infrastructure Resilience Development Blueprint that IDF members including AXA, Convex, Generali, SCOR, Swiss Re and Zurich developed over the past two years. This blueprint was then refined through intensive collaboration between the IDF and BlackRock/GIP.
Generative AI in Banking: From POCs to Front-Office Impact
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
EXCLUSIVE: “Chain Reaction” – Sergey Nazarov and Fernando Vazquez, Chainlink in ‘The Paytech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
FF Tattoo Studio: Datavillage on Privacy-First Data Collaboration and Faster Fraud Investigations
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Chancellor Unveils Plans to “Supercharge” Growth of Innovative Financial Services Firms
Financial services firms will get new support to help them scale up, invest and create high-skilled jobs
Standard Chartered Partners With Dandelion to Enhance Real-Time Cross-Border Payments
Standard Chartered has partnered with Dandelion Payments to enhance the Bank’s low-value global disbursements proposition
Persona Launches Connect at Money20/20 USA to Build the Rails for Collaborative Identity
Persona launched of Persona Connect at Money20/20 USA, a new solution that enables organizations to securely share and reuse verified identity
Prove Launches Verified Agent Solution to Secure the $1.7 Trillion Agentic Commerce Revolution
Prove announced the launch of Prove Verified Agent, a solution purpose-built to secure the emerging $1.7 trillion agentic commerce market