Industrial insurer HDI Global Insurance Company (HDI) will be leveraging the cloud-based technology and advanced analytics of Verisk a leading global data analytics provider, to help increase efficiency and develop innovative insurance products.
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Using Verisk’s Mozart Form Composer®, Verisk’s InsurTech platform for forms management and product development, HDI will be able to easily find forms across hundreds of commercial and specialty lines of business, identify language that needs to be updated and make revisions with speed and precision.
“Ensuring that all of our policy forms are updated and easy to access can be a major challenge,” said Marco Hensel, senior vice president of North America underwriting services at HDI. “Verisk’s Mozart will provide a centralized library for all of our forms and enable us to quickly identify and prioritize revisions, manage review processes and offer coverages that meet the evolving needs of the marketplace.”
Mozart contains a number of features to help insurers increase operational efficiencies and speed to market, including
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- Workflow tools to help insurers research, collaborate on shared work and manage internal approvals
- Form analytics that use natural language processing to help insurers identify and evaluate similarities and differences in forms language with ease
- Automation that enables insurers to update language in multiple forms simultaneously to enhance consistency
“We are excited for HDI to join the Mozart community to help transform their forms management and development processes,” said Deborah Morris, senior vice president of commercial lines underwriting at Verisk. “Mozart makes it significantly easier for insurers to support consistent policy language across their forms portfolio and help minimize potentially unexpected claims or lost premium.”
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