Business News: Neuro-ID, Livegenic, Concentra and Hi Marley

TransUnion, an analytics provider that produces consumer credit scores, has teamed up with Neuro-ID to employ the tech company’s behavioral analytics software to detect fraud and reduce risk for insurance customers.

Neuro-ID’s Friction Index Platform uses a JavaScript installation to reveal points of friction, hesitation and confidence as applicants digitally interact with an online quote or claim process, TransUnion said in a press release. This new behavioral layer of digital intelligence makes it possible to optimize conversion and minimize risk, the company said.

“Our insurance customers have an insatiable appetite for new sources of data to help them make better and smarter decisions while providing consumers with great experiences,” stated Mark McElroy, executive vice president and head of TransUnion’s insurance business unit. “Neuro-ID unlocks the ability to scientifically measure and explain the friction and fraud behaviors their customers are exhibiting in real-time.”

Neuro-ID said nine in ten customer journeys result in frustration, failure or fraud because companies simply do not have adequate visibility into their customers’ “digital body language.”

The company, based in Whitefish, Montana, was founded in 2010 by scientists who discovered a linkage between “indecision and anomalous neuro-motor responses,” the company’s website says.

GuideOne Insurance has formed an alliance with Livegenic, a virtual collaboration technology platform that uses photo and video collaboration to offer virtual property and loss-control inspections to policyholders.

The virtual inspections will be targeted to GuideOne’s core niches: religious organizations, nonprofit and human services organizations, small businesses and educational institutions. The carrier, based in West Des Moines, Iowa, offers commercial property and liability, business owner’s policies, workers’ compensation, commercial auto.

“Using the platform shortens the claim processing cycle considerably because our customers no longer have to schedule an appointment and wait to meet in-person with an adjuster,” said Jim Balzarine, director of claims at GuideOne. When a claim is approved, we can issue a check in one to two days versus the standard 10 to 14 days.”

Balzarine said the virtual property inspections allow customers to interact with claims adjusters in real-time while capturing video of the damage, as well as audio.

Philadelphia-based Livegenic was founded in 2014 and has gone through three funding rounds, according to the company’s website. Investors include Ben Franklin Technology Partners and Claim Central.

ICW Group Insurance Companies has teamed up with Concentra Telemed to provide injured workers with access to medical treatment online via smartphone, tablet or computer.

Concentra Telemed gives injured workers the option to access non-emergency medical treatment 24 hours a day, seven days a week with no need to visit a medical facility or spend time in a waiting room, the San Diego based insurance carrier said in a press release.

“We were actively working on our telemedicine rollout when the coronavirus pandemic hit,” said Amanda Granger, senior vice president, for workers’ compensation claims. “Thankfully, ICW Group’s workforce was equipped to quickly shift to a work from home model and accelerate delivery of this important service.”

The telemedicine service allows injured employees to video chat with a medical provider using video conferencing. The provider can diagnose, treat and prescribe medication. Telemedicine can also be used for follow-up visits and re-checks. The service also offers rehabilitation treatment for work-related injuries through Concentra Telemed’s virtual physical therapy program, the company said.

Hi Marley, a Boston-based chatbot provider, says it is expanding a pilot project with Plymouth Rock Assurance that uses its text messaging software to resolve auto claims.

Hi Marley says insurance customers can arrange most of the claims process through text messaging rather than through traditional phone calls and scheduled appointments.

Plymouth Rock enlisted Hi Marley for a pilot project that directed 2,500 claims to the Hi Marley platform. The pilot increased customer satisfaction ratings, reduced rental days and lowered operational costs, the insurance company said.

Plymouth Rock will now expand its work with Hi Marley to design and deploy intelligent SMS text messaging across all customer and agent-facing interactions – from initial policy purchase, to service and renewal, Hi Marley said.

Plymouth Rock, also based in Boston, writes and manage more than $1.4 billion in auto and home insurance premiums across Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Pennsylvania.