Business News: Hippo and SimpliSafe, Infinilytics, Mitchell and Honk
Hippo Insurance has teamed up with SimpliSafe to give homeowners access to home security systems.
Hippo, a managing general agent launched in Palo Alto, Calif. in 2015, was an early adopter of smart-phone technology to connect with consumers and has expanded its product offering to include smart home technology. The company said the partnership with SimpliSafe will expand the suite of services available within its smart home program, which protects more than 3 million people.
New Hippo Insurance customers in select states who enroll in its smart home program will now be eligible to receive a professionally monitored home alarm system from SimpliSafe, provided completely complimentary with their homeowners’ policy. The SimpliSafe home security system will include a high-definition camera, two water sensors, smoke detector, window or door entry sensor, keypad and base station. As part of the offer, eligible customers will also receive two free months of 24/7 interactive monitoring and a discount on their annual home insurance premium. After the initial two month period, customers in the program will pay for professional monitoring, which starts at $14.99 per month.
Hippo Insurance said it has already sent over 200,000 self-monitored smart sensors to its customers. Hippo developed the smart home program more than two years ago, initially launching with self-monitored sensor kits. “As activation rates for smart sensors increased throughout the program, now topping over 70 percent, a growing number of Hippo customers have requested an even more extensive smart home option,” the company said.
Infinilytics announced that Intellagents has added its artificial intelligence-based claims management system, Charlee, to its platform.
Infinilytics, based in Pleasanton, Calif., said the Intellagents Marketplace is a collection of insurtech solutions that use application programming interfaces (APIs) to connect insurers’ existing assets (files, databases, API web services, messages).
The company said its Charlee product provides four insights in managing insurance claims: best practices, red flag alerts, quality control alerts, and litigation prediction. Charlee serves as an early warning system that identifies hidden patterns that help to expedite or fast track the claims process and predict which claims may eventually lead to litigation.
Charlee is designed to help reduce allocated loss adjustment expense and claims severity, the company said.
Infinilytics said Intellagents is an anchor of the Hartford, Connecticut insurtech community.
Mitchell International announced the launch of an auto claims estimating product that uses artificial intelligence, called Intelligent Estimating.
Mitchell said the product was built to meet carriers’ increasing automation and virtualization needs. Mitchell said the product offers an end-to-end framework that leverages artificial intelligence with a cloud-based estimating system that turns photos of damaged vehicles into component-level estimate lines.
“As carriers work through technology challenges, and now increased requirements for virtual claims practices, the process advantages of the Mitchell Intelligent Estimating solution are expected to help pave the way for more productive workflows in the future,” said Olivier Baudoux, Head of Product & Artificial Intelligence for Mitchell.
Mitchell, based in San Diego, Calif., said it first began using automation in the automotive space 75 years ago.
Honk Technologies, a Los Angeles-based insurtech that produces software to connect drivers with tow trucks and insurers, says it has updated its app to increase the speed of response and ease of use.
New features include a chatbot that keeps customers informed throughout the process. Artificial intelligence now enables insurance carriers that use Honk as their roadside assistance provider to receive real-time updates on changes to driver arrival time or consumer location, the company said.
HONK said it operates a network of more than 75,000 towing and roadside assistance service vehicles. The technology is used byinsurers such as Farmers, along with fleet managers, manufacturers, and consumers.