Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
HealthCare.com's insurtech division, Pivot Health, partnered with Cigna Corp. to offer short-term health insurance products through Cigna's preferred provider organization network.
_________________________________
QBE North America unveiled its organ transplant product, which provides insurance coverage for all major solid organs as well as bone marrow and stem cell transplants.
Policyholders will also get nationwide access to transplant centers of excellence and transplant nurse navigators through the product, which is available in 38 states.
QBE North America is part of QBE Insurance Group Ltd.
_________________________________
Voya Financial Inc. was selected as the service provider for seven government retirement plan clients in Southern California.
The company will serve as the recordkeeper for the municipalities of Oxnard, Downey, Signal Hill and Bellflower and the San Diego Retirement Medical Trust, Padre Dam Municipal Water District and Lake Arrowhead Community Services District.
_________________________________
Massachusetts Mutual Life Insurance Co. expanded the underwriting guidelines of its life insurance coverage for individuals diagnosed with breast cancer.
The expanded coverage will allow individuals with breast cancer immediate qualification for policies following the successful completion of their treatment, reclassification into lower risk classes and eligibility for more favorable ratings.
The company also intends to update its underwriting guidelines for individuals diagnosed with prostate cancer in the future.
_________________________________
PT. Traveloka Indonesia launched insurance travel and life insurance products under Traveloka Protect.
Property and casualty
Munich Re launched Wildfire Risk Score, a service that evaluates wildfire risks and estimates wildfire damage in North America. The service combines loss data from past wildfires with publicly accessible scientific information that results in high-resolution risk maps, integrated into the company's existing risk assessment platform.
The company also unveiled Remote Industries, an application that permits automated damage recording after a hurricane. The application uses artificial intelligence-based algorithms to create high-resolution aerial imagery of potential damage to buildings two days before an expected hurricane.
_________________________________
Willis Towers Watson PLC partnered with Sompo Global Risk Solutions to create the Willis Towers Watson Retail, Office and Industrial platform, which will offer insurance products for the middle market commercial real estate market.
The offering includes general liability, automobile liability, workers' compensation, umbrella coverage and a customized property product and casualty pollution product.
Sompo Global Risk Solutions is part of Sompo International Holdings Ltd.
_________________________________
Chubb Ltd. launched an exclusive service that will allow its auto clients to remove sensitive electronic information from their vehicles after an insured total loss, at no additional cost.
The service will allow technicians to scan locations and wipe systems on insured vehicles, including clearing GPS, mobile contacts, text messages and garage and gate opening capabilities from vehicles.
_________________________________
Berkshire Hathaway GUARD Insurance Cos. expanded its commercial package product into New Jersey.
The offering includes commercial property with built-in equipment breakdown, inland marine and crime coverage; general liability; employment-related practices liability and commercial umbrella coverage. The product is designed for large, complex operations or businesses with multiple exposures such as light-to-medium manufacturing, wholesalers and distributors, resort hotels and country clubs and golf courses.
_________________________________
Axa XL entered a strategic underwriting partnership with Neptune Flood Inc. to expand Neptune Flood Insurance's capacity to homeowners throughout the US.
Neptune Flood is a digital flood insurance program administrator that offers coverage to residences in all flood zones, including in nonmandatory X zones.
Axa XL is a division of Axa SA.
_________________________________
Axa XL developed a bespoke contractual liability insurance coverage specifically tailored for Hoyos Integrity Corp.'s digital "Hot" wallet.
The coverage protects Hoyos in the event of reimbursement due to a nonauthorized breach in the digital wallet's security system.
Links are current as of publication time; S&P Global Market Intelligence is not responsible if those links are unavailable later.
