Philadelphia Insurance Companies (PHLY) has acquired the Collector Vehicle Division of Ignyte Insurance in a deal valued at $615 million, adding four established collector car insurance brands to its portfolio. The acquisition includes American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly, and Heacock Classic, all based in Mt. Laurel, N.J. The businesses employ more than […]
Tokio Marine Indonesia Implements Shift AI Anti-Fraud Technology
Shift Technology announced that PT Asuransi Tokio Marine Indonesia has deployed Shift Technology’s Force fraud detection solution for auto claims. As a result, the technology will become a crucial element in the insurance carrier’s overarching fraud prevention strategy. Tokio Marine Indonesia is one of the largest general insurers in the country. “Through our work with […]
Tokio Marine to Use Tractable AI for Auto Insurance Claims in Japan
Tokio Marine will use Tractable’s artificial intelligence (AI) solution that employs computer vision to look at photos of vehicle damage to process auto damage claims across its insurance operations in Japan. According to the announcement, Tokio Marine will use the AI to understand the full range of repair decisions available to it, including recommended repair, […]
Metromile and Tokio Marine Expand Partnership with FNOL Technology
Metromile, the pay-per-mile car insurance company in the U.S. announced that Tokio Marine Group, Japan’s largest insurer, deployed the digital, first notice of loss (FNOL) product Metromile REPORT across its $13 billion auto insurance book. With Metromile REPORT, Tokio Marine expects to improve customer claims by enabling drivers to report accidents online and through its […]
Metromile Announces Strategic Enterprise Partnership With Tokio Marine to License Connected Intelligence Platform
Metromile, the pay-per-mile car insurance company in the U.S., today announced that Tokio Marine Holdings, Inc., the largest P&C insurance group in Japan, has become the first insurance carrier to license Metromile’s Connected Intelligence Platform. The company’s artificial intelligence (AI) platform was designed to provide real-time insights into a customer’s lifetime value and improve the […]