Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has partnered with Attestiv to accelerate automation initiatives, increase fraud protections, and reduce expenses for P&C carriers.
Attestiv, a Boston-based technology company, provides a tamper-proof media validation and automation platform for insurance, financial services, and related industries. Attestiv verifies the authenticity of digital media, including photos, videos, and documents.
The company said this empowers organisations to deploy trusted automation initiatives protecting them from fraud and losses by providing the highest standard for information exchange.
Through this partnership with Attestiv, Insurity will offer automated document and image validation to its 500-plus customers, saving insurers costs by eliminating manual inspections, reducing fraud, and minimising reputational risk.
Further, by using Attestiv’s patented AI and blockchain technology, Insurity customers will benefit from enhanced fraud analysis for insurance claims and underwriting images, videos, and documents provided by policyholders, field adjusters, and third parties.
Insurity added that its customers will also benefit from reduced costs due to automated validation, fraud reduction, and streamlined claims handling.
Sylvester Mathis, chief insurance officer at Insurity, said, “Attestiv’s AI provides the foundation for trusted automation that protects insurance companies against fraud while accelerating their digital transformation initiatives. With this partnership, Insurity enables a differentiating standard for trusted automation in the insurance industry.”
Nicos Vekiarides, chief executive officer of Attestiv, added, “With P&C insurance carriers positioning AI automation to build industry-leading offerings, Attestiv is paving the way with automated AI fraud protection. By partnering with Insurity, we are excited to be able to provide our innovative AI technology seamlessly within Insurity’s cloud-native platform and beyond.”
Earlier this month, Analysts at Swiss Re have predicted that although inflation is easing in 2023, many cost pressures will still underpin elevated claims.
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