iCover

Insurtech iCover, a firm that provides algorithmic underwriting, has launched iCover Direct, a life, health and wellness marketplace.

This is an exclusive opportunity for community insurers to offer products directly to the consumer.

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At the moment, four insurance carriers have partnered with iCover Direct to offer existing and new life insurance products through the platform.

“With their incredible inception stories, rich history, benefits and dedication to service, community insurers are unique in the industry. We are honored to partner with these companies to launch a one of its kind online insurance buying marketplace. iCover Direct will also showcase affiliate partners, such as Hooray Heath, to provide products in the health insurance and wellness space,” said Hari Srinivasan, CEO for iCover.

“This is an exciting phase for iCover. Our QUI technology (industry’s first non-reflexive eApp) and algorithmic decision engine will provide the “Best Buying Experience” for our consumers. We are also working on exclusive, competitively priced products that are tailormade for iCover Direct,” added Nicole Mwesigwa, COO & product leader for iCover.

In tech news, Guidewire, a software company specialising in the property and casualty (P&C) insurance sector, has named Shift Technology as its partner for decisioning solutions for the insurance industry.  

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This partnership aims to integrate Shift’s AI-powered fraud detection technology with Guidewire’s solutions to enhance efficiency and productivity for claims handlers. 

Shift, founded in 2014, offers AI-powered solutions for fraud and underwriting risk detection, subrogation detection and automating key insurance decisions. 

With a 100% focus on the insurance industry, Shift is said to serve more than 115 insurance customers across 25 countries.