Insurtech weekly news roundup: April 01

This week there are new insurtech partnerships between Gradient AI and Socotra; Ascend and Stere; and also Bold Penguin and Pathpoint. Vertafore launched a new commercial submissions platform. Insurtech venture capital firm Brewer Lane Ventures promoted two key people. Sure, an insurance technology company, hired a veteran of Google, Jet.com and Walmart as its new chief revenue officer.

Gradient AI/Socotra

Gradient AI and Socotra are partnering to bring AI-based automation to insurers building underwriting and claims products.

Gradient is an enterprise software provider focused on artificial intelligence products and services for insurers. Socotra provides core platforms for insurtech MGAs and tech-focused insurers.

The partnership calls for Gradient AI to integrate its AI products with Socotra’s cloud-based insurance core platform. By doing so, the idea is to help insurers leverage Gradient AI’s large dataset - which includes tens of millions of policies and claims – through Socotra’s platform.

Here’s the reasoning behind the partnership: Claims and underwriting professionals need the most accurate and precise data to know when they can automate quotes or claims, or when they need more experienced staff to provide closer examination. Insurers improve their bottom line as a result by more closely assessing risk policies, streamlining processes and cutting claims expenses, the companies said.