Business News: Mitchell International, Snapsheet, ESIS

Mitchell Partners With Tractable to Bring AI to the Insurance Claims Process

Calif.-based Mitchell International, a technology, connectivity and information solution provider to the property & casualty insurance industry announced an exclusive partnership in North America with Tractable, a UK-based technology firm specializing in the development of artificial intelligence solutions capable of automating manual tasks.

Mitchell will integrate Tractable’s solutions within its WorkCenter Automobile Physical Damage platform, enabling customers to make better decisions and accelerating the vehicle repair and claims management processes.

The partnership will simplify and accelerate repetitive work currently requiring insurance claims experts, allowing these professionals to focus on more meaningful activities within the claims process.

Snapsheet Raises $20M to License Virtual Claims Processing Technology to Insurers

Snapsheet, the prominent provider of virtual claims technology and services, announced the closing of a $20 million series C investment round, led by F-Prime Capital and IA Capital Group, with strategic participation from Liberty Mutual Strategic Ventures, Intact Ventures Inc. and a USAA subsidiary. Snapsheet will use the investment to grow its engineering, marketing and sales head count as it develops its customizable platform for virtual auto claims.

The company now serves over 35 insurance clients, recently adding innovative carriers like Metromile and Turo to its growing list. With the new investment, Snapsheet will begin licensing its virtual claims processing technology, including white-labeled self-service applications and full virtual CRM suite, directly to insurance carriers.

Snapsheet tracks and manages the customer experience, allowing carriers to adapt to their customer’s needs by the minute throughout the lifecycle of receiving and processing a claim. Through this claims management technology, Snapsheet is able to greatly improve cycle times and customer satisfaction for their clients.

In the coming months, Snapsheet will focus on the development of its virtual claim CRM system that guides customers through the entire auto insurance claim process, from start to finish. New features—from automated email and text message communication to real-time online analytics—aid insurance carriers provide a superior customer experience and workflow. Complex ACH/EFT payment workflows can be easily managed with Snapsheet, simplifying the payment process between carriers, customers and body shops.

From 2015 to 2016, Snapsheet achieved 100 percent year-over-year growth. Boasting over 250 employees and 35 insurance clients, Snapsheet will begin selling its software to a global audience, including carriers in Asia, Europe and South America.

ESIS Launches Alternative Markets Practice; Focused on Non-Traditional Casualty Risks

ESIS, Inc., Chubb’s risk management solutions division, launched a new Alternative Markets Practice focused exclusively on non-traditional casualty risks. The practice will provide clients with access to dedicated claim service professionals with expertise in comprehensive and specialized claim handling, medical cost containment, advanced data analytics, catastrophe and crisis management, and return to work programs.

The new practice will be led by Vickie Betancourt, assistant vice president, ESIS.