InsurConneXtions Alliance is expected to help prioritise and integrate technology solutions critical for insurance processes
The new InsurConneXtions Alliance will help to prioritise and integrate specific technology solutions critical insurance processes to bring processing efficiencies and industry standards.
The InsurConneXtions Alliance has agreed to start its collaboration by focusing on technology and efficiency improvements to policy checking.
Policy checking is a high volume and comprehensive processes that perform a critical validation for accuracy and integrity of policy issuance across carriers, wholesalers and brokers.
Starting this month, the alliance members aim to work together to drive the evolution of Patra’s policy checking solution.
Patra CEO and founder John Simpson said: “The need for insurance leaders to collaborate on technology has never been more important and this InsurConneXtions will be an important and strategic contributor.
“With industry-leading firms along with Patra’s technology and full-service delivery capabilities, a collaborative approach will help ensure more rapid delivery of tech-enabled solutions to help solve our common challenges.”
Members of InsurConneXtions Alliance will initially focus on policy checking
The companies, which have formed the InsurConneXtions Alliance, will initially focus on policy checking. Later, the members will start prioritising the next set of services on which they can collaborate and will also discuss the potential expansion of the alliance.
CRC chief operating office Neil Kessler said: “Speaking on behalf of the membership, we are excited to establish and participate in this important Alliance.
“As we have seen the successful digital transformation in other industries, the insurance industry will need to rapidly adopt technology to drive efficiencies and economic value for our customers.
“The more technology we can integrate and embed within the services we provide, the better the user experience we will bring to all stakeholders within the value chain.”