Counterpart, an AI-driven management and professional liability InsurTech, has announced a new partnership with Westfield Specialty Insurance, to provide an admitted product for Counterpart’s small business customers and, for the first time, nonprofit organizations, through its network of broker partners.

The partnership with Westfield Specialty represents one of three A-rated insurance carriers to back Counterpart, which is already supported in the surplus lines by Aspen Insurance and Markel.

The new admitted management liability product extends Counterpart’s offerings to for-profit businesses with less than $350 million in revenue or 500 employees, well as more than one million 501(c) organizations. Counterpart is adding nonprofits to its offering following demand from its broker partners.

Counterpart combines insurance expertise with underwriting and claims technology to help minimize risks for small businesses. The new Counterpart/Westfield Specialty admitted product offering is already available in 35 states, complementing Counterpart’s existing program offerings in all 50 states.

***

Send and hyperexponential announced a partnership that integrates their technologies, providing a pricing ecosystem for insurers.

This collaboration allows users of hyperexponential’s pricing decision intelligence platform, hx Renew, to connect with Send’s underwriting workbench capabilities. The integration aims to streamline the underwriting and pricing process and enhance efficiency and accuracy for insurers.

This partnership also has a goal of improving the underwriting workflow and reducing the time underwriters spend inputting data into multiple systems, according to a press release.

***

ForMotiv, a provider of behavioral data science solutions for life and property/casualty insurance, announced a strategic partnership with FRISS, a global provider of trust automation solutions for the insurance industry.

The collaboration between ForMotiv and FRISS aims to provide insurers with new insights into applicant behavior and intent, enhancing fraud detection and risk assessment processes. By combining ForMotiv’s behavioral analytics with FRISS’s predictive AI models and analytics, insurers can capture and analyze digital behavioral data points during the application process. The integration allows for real-time identification of potential fraudulent activities and misrepresentations.

Through this partnership, insurers can offer a personalized user experience. By understanding the digital behavior of applicants, insurers can tailor their interactions to each individual.

Sources: Counterpart, Send, ForMotiv