Earnix, a global provider of SaaS solutions for financial services, announced Earnix Lending Plus, an end-to-end AI-driven software platform that combines advanced pricing analytics, price optimization, and simulation capabilities with automated credit risk decisioning in a single solution.
The platform allows lenders to streamline loan pricing and approvals using machine learning-based credit scorecards, make rate updates, and implement credit policy improvements as frequently as needed without dependency on IT. Likewise, lenders can leverage Earnix’s analytical framework to simulate the impact and interaction of credit and pricing strategies.
Earnix Lending Plus offers a single platform to control the pricing and credit decisioning process. The platform also aims to minimize the number of handoffs and allows for more control over and greater speed of lending decisions.
Built for pricing and risk teams in lending institutions, it also provides pricing and risk decisioning specific features for modeling, pricing optimization, and reporting without additional customization. It provides joint simulation, which helps users forecast the impact of decisioning logic changes before they are implemented, to assess the impact on business results and refine strategies.
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Coterie Insurance, a partnership-focused InsurTech MGA focused on small business insurance, announced the availability of cyber insurance on its platform through a new partnership with Berkley Re Solutions and TransUnion.
With coverage from Berkley Re Solutions and cyber insurance services from TransUnion’s TruEmpower Cyberscout solutions, Coterie now provides Berkley Re’s custom solutions within its existing user experience.
Coterie partnered with Berkley Re Solutions as a cyber coverage reinsurer that offers a risk management program, providing education, preparation, fraud, and credit monitoring, identity protection, and more services to small businesses through its partnership with Cyberscout.
By leveraging TransUnion’s Cyberscout solution, Coterie is now providing enhanced cyber risk services to assist small businesses in response to cyber incidents. In the event of a breach or cyber attack, Cyberscout delivers cyber claims management, incident response, and forensics services that help assess the severity of a cybersecurity incident. Cyberscout services also support the crisis management process to help mitigate damage, communicate with stakeholders, and preserve and restore the business’s reputation.
Cyberscout offers mobile text notifications, a customer web portal with access to cyber safety tips, and a free Business Security Self-Assessment survey to assist businesses in identifying gaps in their cyber security program.
Using Coterie, agents and brokers can obtain a cyber quote while getting quotes for other small business coverages, business owners policies and general liability.
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InsurTech provider Zywave announced an enhancement to its Cyber Quoting solution with the addition of embedded benchmarking.
Brokers can now leverage industry data and loss profiles from similar organizations to provide their clients with more sophisticated insight into coverage limit adequacy and potential loss gaps.
Launched in April 2024, Cyber Quoting is a centralized quoting platform that brings together global cyber insurers and U.S. distributors, connecting them through a simplified, transparent submission process that provides key insights into coverage needs and selection.
With the addition of Zywave’s built-in, proprietary limit adequacy data, users can access insights into potential coverage models, identifiable loss gaps, and benchmarking common coverage levels within the product.
The Cyber Quoting benchmarking and limit adequacy insights are powered by Zywave’s Commercial Analytics data. Comprised of more than 400,000 insurance programs incepted by U.S. organizations annually, the benchmarking utility can delineate the subset of program data to match a peer group. Combined with Zywave’s 200,000 cyber losses, Cyber Quoting provides objective information for evaluating the structure and cost of insurance programs and enables brokers to be more informed when making recommendations to clients.
Zywave has cyber insurers and policies available on the quoting platform, including carriers At-Bay, CFC, Coalition, and Cowbell, and are preparing for the imminent addition of Killara Cyber, Elpha Secure, and Tokio Marine HCC.
Sources: Earnix, Coterie Insurance, Zywave