2020 has been an unprecedented year. In addition to the challenges of operating amid a pandemic, planning and hosting a virtual conference made for an exciting past few months. Beyond regular sessions, PIMA’s virtual two-day conference also included a Technology Pavilion that highlighted tech companies making strides in the use of technology in the insurance sector.
What Is the Technology Pavilion?
The PIMA Technology Pavilion provides a platform for selected tech vendors to share their developments, network with potential partners, and highlight how their products can help event attendees. PIMA selected companies that have developed technologies that solve problems in various areas of the insurance industry value chain, including sales and distribution, product development, underwriting, claims, and more.
Participation in the Technology Pavilion required an application and a review from the PIMA Programming Committee. We evaluated applicants based on three specific criteria:
- Problem Being Solved: What is the main problem the company or technology solves?
- Market: Who are the potential or most important customers?
- Distribution: Which PIMA organizations would the company like to connect with?
Who Are the Pavilion Participants?
PIMA conference attendees could arrange meetings easily with the selected companies to learn more about emerging tech helping the insurance industry thrive. If you missed the Technology Pavilion and want to connect with leaders in the insurtech landscape, here is a brief overview of the companies that participated:
CogniSure is an AI platform that helps uncover insights buried in documents like loss runs, submissions, quotes, and policies. By using deep learning algorithms, its AI solution extracts, validates, and analyzes data within these documents to help develop risk insights, create growth opportunities, and prevent customer losses — ultimately improving the bottom lines of businesses.
Gerald Technologies is a machine learning platform that helps insurance companies engage with their policyholders. When life events occur, insurance companies have an opportunity to provide value to the individual — that’s where Gerald comes in. Using machine learning, Gerald can detect and predict life events to help insurance companies automate engagement with the right messages and products at the right time.
As a turnkey software-as-a-service distribution platform, InsuranceMenu provides digital quotes to enroll capabilities at a far lower cost than that of in-house development. It believes that a business of 50 people can’t be treated the same as a business of 1,000 people, so it focuses on small businesses and the relationships they have with their insurance agents.
InsureVite helps transform the customer experience through messaging apps. Insurers can work with this platform that combines conversational AI and automation functions in messaging apps that are convenient and intuitive for customers while providing the transactional capabilities that insurers need.
JAUNTIN’ is an on-demand platform that opens doors for insurers to provide short-term insurance to gig workers both directly and through platforms like Upwork, Uber, and more.
Optimity is an easy-launch engagement platform that helps insurance companies attract healthy customers and engage them to increase their lifetime value. Optimity’s solution consists of three products: a gamified mobile app for consumers, admin portals for insurance carriers, and another portal for agents and brokers.
Insurance companies can operate more efficiently behind the scenes — and that’s where ProNavigator comes in. Brokers and underwriters, among others, build cheat sheets for their products, spending one to two hours searching for answers every day. ProNavigator’s tech streamlines this process so brokers don’t have to dig through pages of information to find what they need.
Predictive Health Partners
Predictive Health Partners detects and prevents avoidable healthcare and prescription costs while simultaneously reducing the risk of adverse drug events. With a permission-based connection to clients’ medical claims, Predictive Health Partners uses Benjamin, its proprietary analytics and price transparency technology, to help individuals avoid unnecessary medical costs with just a few clicks.
TripleBlind’s application program interface offers digital privacy as a service, providing insurance entities the ability to access sensitive data and algorithms securely through a private AI pipeline.
UDoTest offers personalized, at-home, primary-care lab testing experiences for both insurers and labs. Its API connects patients to national labs that ship testing kits directly to patients, who can then screen for more than 70 conditions from their own homes.
The use of technology in the insurance sector is key to the industry’s success now and in the future. PIMA’s Technology Pavilion aims to highlight the incredible insurtech landscape and provide both tech companies and event attendees the opportunity to build connections and expand their efforts.
Become a PIMA member today to receive more of the latest, must-know information related to insurance and technology#Blog#Technology