Business News: Mitchell and Comp Alliance, Verisk, One Inc., Trov

Mitchell|Genex has acquired CompAlliance, a national managed care service provider for the workers’ compensation industry.

CompAlliance’s preferred provider organization, medical bill review, case management, utilization review and 24-hour nurse triage services will become a part of Mitchell|Genex.

Mitchell International, a claims management provider based in San Diego, merged with Genex late last year.

“Adding CompAlliance to Mitchell|Genex was a natural fit for both companies,” stated Mitchell President and Chief Executive Officer Alex Sun in a press release. “Both of our companies are committed to driving better claim outcomes and creating additional value for our clients and injured or disabled workers. The transaction extends our industry-leading expertise in medical cost containment and clinical solutions.”

CompAlliance, based in Kansas City, Mo. was founded in 1992.The company has approximately 125 employees, Mitchell said.

Verisk had launched an online home inspection tool that expands its online customer-interaction platform by allowing customers to share and uphold photos, videos and other documents using their mobile devices.

Verisk, a data-analytics provider based in Jersey City, N.J., said in a press release that its OneXperience program can help insurers price and underwrite homeowners policies correctly without being intrusive to customers.

“OneXperience enables insurers to engage easily with customers across the policy life cycle—from quote to renewal—as well as gain operational efficiencies that help reduce the cost and time associated with traditional inspections,” stated Doug Caccese, president of personal lines at Verisk’s ISO subsidiary.

Verisk said OneXperience is built on shared architecture with its ClaimXperience platform, already used by many insurers for claim settlement. Insurers can continue to use the tools for customer collaboration at multiple points of engagement, including re-inspection, upon renewal, Verisk said.

OneXperience includes instant messaging and shared calendars, to enable communication and help maintain touchpoints over time, the company said.

ACCC Insurance Co. has selected One Inc.’s ClaimsPay digital payment system to modernize its payment capabilities, the Folsom, Calif.-based tech firm said in a press release.

The Houston-based auto insurance carrier chose One Inc. digital payments platform to enhance customer engagement, and facilitate faster claims payments, One said.

Peter Datz, director of business applications and technology services at ACCC, said One was selected because it is familiar with the non-standard insurance industry and its product can be incorporated into the company’s existing systems “to free up adjusters to focus on the complex issues that require more in-depth, human attention.”

ClaimsPay combines multi-channel digital communications with electronic payment processing and disbursement. One Inc. said its digital payments platform manages billions of dollars per year in premiums and claims payments.

Trov announced a partnership with Lloyd’s Banking Group to launch a white-label renters insurance application in the United Kingdom.

Trov said the number of renters in the UK has jumped from 4.5 million in 2017 from 2.8 million in 2007, and one-third of them don’t have renter’s insurance.

Trov’s offering, brought to the market by Lloyd’s Halifax Home Insurance, includes blanket coverage for items in the home, on-demand insurance for individual items taken out of the home, plus liability and emergency accommodation coverage, the company said.

Trov’s technology enables renters to activate the base home coverage as a monthly subscription and turn protection on or off for individual items, entirely from a connected device, and without any agent involvement. Trov also allows customers to submit claims online, track progress, communicate and settle the claim.

Halifax Home Insurance, part of Lloyds Banking Group has also adopted Trov’s back-office modules to effectively manage the product. The back-office suite includes Trov’s customer relationship manager, a claims agent interface, and a business intelligence application for financial reporting and performance analytics, Trov said.