Business News: Nationwide, ACM, Betterview

Nationwide Cutting About 80 Jobs From Des Moines Office

Nationwide Isurance intends to eliminate the jobs of about 80 workers at its Des Moines office as it cuts 1,100 positions across the country.

Nationwide spokesman Joe Case says the workers affected were told Tuesday that their jobs will be ending in March. The employees will receive severance pay and other support.

The job cuts will occur mostly in information technology, marketing, property and casualty operations and bank organizations. Nationwide announced in February that it would cut about 50 Des Moines employees from its mortgage division.

Case says the Nationwide workforce needs are evolving as the company “implements new technologies and modernizes for the future.”

Nationwide is based in Columbus, Ohio.

ACM Launches Insurtech Projects to Streamline Efficiencies

American Claims Management (ACMclaims.com) has launched several Insurtech projects in 2018, with more to come in 2019. These include a complete redesign of our website to including AI via a claims chatbot, along with several automation projects to streamline our claims processes.

ACM’s new claims chatbot launches in late 2018, allowing claimants the ability to report a claim online.

The claims management firm worked with another InsurTech company this year to create a content inventory program used in property losses. The new software incorporates each carrier’s specific SOPs and walks the field adjuster through a series of ‘scripts’ to capture content inventory and document the loss. Once the field adjuster completes the onsite inspection, the inventory report is uploaded to its claims management system.

Working with a third InsurTech company, ACM’s new program exports claim data from their system. Within minutes, all claims are uploaded into a call center which begins an automated first contact response. Calls are made with a “live” voice that was pre-recorded with a script designed specific to the client. Each call includes claim details (claim number, policy number, etc.) crucial to the first contact.

New software has also been added to handle the scheduling, reporting and documentation of insured contacts and inspections.

ACM is currently working with several software companies on 2019 initiatives, that will allow them to:

• Automate many steps in the claims process using AI.
• Add texting capabilities for field adjusters to communicate with claimants (storing all messages online).
• Issue payments to policyholders, claimants and vendors via electronic virtual payments.
• Add drone inspection capabilities.

Plug and Play Invests in Betterview’s Property Data & Analytics Platform

Betterview, a building and property platform analytics firm, announced that Plug and Play Ventures, an active venture capitalist in Silicon Valley, has made an investment in Betterview. Terms of the funding were not disclosed. Betterview plans to use the funding to expand its artificial intelligence capabilities to new imagery sources, as well as enhance its property data and analytics platform.

Headquartered in Silicon Valley, Plug and Play was founded as a venture capital that went on to develop startup accelerator programs and corporate innovation services around the world to improve technological advancement across various industries. Plug and Play has over 70 corporate partners in their Insurtech program including AIG, Axis Capital, EMC, Guidewire, Maiden Re, and Nationwide to name a few.

In August of 2018, Betterview announced the release of Property Profile, which uses aerial imagery, along with a growing number of other data sources like historical weather, to determine the characteristics and condition of a roof and the risk of future insurance claims. Over the last few months, Betterview has enhanced Property Profile by adding building permits, new AI roof detections, measurement and annotation tools, and oblique imagery.

In addition, Betterview recently announced its integration accelerator for Guidewire PolicyCenter, which enables underwriters to request and access property data and inspections from within PolicyCenter.