Insurance Technology: LineSlip Aids Property Underwriting; Bold Penguin Adds 2 Products:, Cowbell Assesses AWS

LineSlip Streamlines Property Value Reporting, Underwriting Data

LineSlip Solutions recently unveiled a new tool to help risk managers, insurance brokers, and real estate asset managers streamline the collection and reporting of property values and insurance underwriting data.

The new tool also enables managers to map portfolio property locations with corresponding underwriting data including COPE (construction, occupancy, protection, exposure) and natural disaster risk. It facilitates instant reporting of insurance program information, as well as insurance premium allocation across the portfolio of property locations.

According to Leo Bernstein, CEO, this tool helps risk and property managers to understand insurance costs by individual location; track and manage COPE data in one place and automate reporting and data entry.

LineSlip said it is currently updating the dashboard with a real-time natural threat overlay that can be applied to individual locations.

LineSlip, based in New York, automatically extracts and organizes data previously locked in binders, policies, schedules and other insurance documents.

Bold Penguin Adds AI-Powered Underwriting Products

Bold Penguin Data Solutions has launched two new artificial intelligence-powered products to assist insurance underwriters. SubmissionLink automatically extracts data from submission documents, enhances it and delivers it into existing underwriting applications. ClauseLink is an enhanced version of RiskGenius, which Bold Penguin acquired in 2020, that extracts and categorizes clauses, allowing for instant coverage analysis by product underwriters.

SubmissionLink builds on Bold Penguin’s access to millions of data points generated by its quote and bind software and universal application. Lakshan De Silva, Bold Penguin chief data scientist, said the firm is partnering with insurance carriers to leverage these submission algorithms to improve accuracy from extracted data and the speed and precision of commercial insurance underwriting.

Bold Penguin jumpstarted its artificial intelligence coverage analysis when it acquired RiskGenius. The firms reconstituted the RiskGenius insurance coverage software to focus on forms analysis for product underwriting departments. Bold Penguin released a new version of the application in 2021 and renamed it ClauseLink.

According to Cheri Trites-Versluis, vice president of Bold Penguin Data Solutions, ClauseLink is being leveraged by insurance carriers looking to evaluate the language in their forms against the language employed by competitors, or standards organizations like Insurance Services Office (ISO) and American Association of Insurance Services (AAIS).

Cowbell Cyber Releases Insurance-focused Risk Assessment for AWS Customers

Cowbell Cyber, an AI-powered cyber insurance provider, is offering what it says is the industry’s first coverage aligned to policyholders’ AWS (Amazon Web Services) footprint. This Cowbell Connector product extends Cowbell’s continuous risk assessment to the AWS cloud and gives policyholders immediate visibility into their cloud-related risk exposures.

Cowbell Cyber offers standalone cyber insurance for small and mid-size enterprises.

Cowbell says the new product will help customers close insurability gaps by providing them with insights and recommendations on how to improve their risk profile, which places them in a better position to obtain cyber insurance coverage.

Cowbell Connectors are available to all Cowbell policyholders for the most commonly used collaboration services such as email, vulnerability management solutions, and endpoint security products, among others.

Policyholders that activate one or more Cowbell Connectors may be eligible to receive up to 5% premium credits towards their Cowbell cyber insurance policy.

Topics InsurTech Tech Underwriting Property