Insuresoft, a leading insurance transaction processing solution provider for insurance carriers, and Silicon Valley Insurance Accelerator (SVIA), today announced the launch of SVIA’s InsurTech innovation lab. The Innovation Lab is a research, design and development center of excellence serving insurance companies, startups, solution providers, and investors.
SVIA will utilize Insuresoft’s 20+ years’ experience of innovation as a founding partner to develop best practices in research, design, and development. Together with Insuresoft, SVIA and other innovation Lab partners, the Lab will fulfill its mission of accelerating the creation of a
digital generation of the insurance industry. The Lab will accomplish that by providing leading edge knowledge, practices, connections and resources
that reduce the time, cost, and risk of bringing the world’s best Insurtech enabled solutions to market. The Lab is available through SVIA’s
SVIA was founded in January of 2016, as the industry’s first open innovation accelerator and outpost. SVIA is one of the top influencers in InsurTech. Its events and activities bring Insurance, InsurTech, technology firms and investors together to discuss opportunities and challenges and to build partnerships. To date SVIAhashosted over 1,200 individuals and have had over 200 top innovators present at our events. SVIA’s Membership program provides participants preferential access to our Lab, knowledge, events, activities and community.
“Insuresoft has built years of insurance and cloud experience along with thought leadership into a highly innovative, repeatable, scalable cloud platform with broad appeal for insurers of all sizes,” said Mike Connor, CEO of SVIA. “Having Insuresoft as a founding partner in the Innovation Lab will provide participating members with a powerful resource that has a superb track record in Insurance innovation and in rapid / agile application development and delivery of award winning InsurTech enabled solutions.”
“Insurers and startups who are seeking new ways to test innovate concepts, cannot always rely on the traditional software development and deployment model,” said Tony Villa, CEO of Insuresoft. “They must find ways to quickly layer in flexible and connected applications that bring value to consumers. Leveraging Insuresoft’s on-demand software along with SVIA’s InsurTech insights, enable Lab Members to rapidly build highly scalable solutions and curate those solutions in a lab environment at a fraction of the time and cost.”
Insuresoft is a Microsoft Gold Certified software developer serving the property/casualty insurance industry. Insuresoft offers a fully integrated policy, billing, and claims-processing platform. Insuresoft is in production in nearly 30 insurance companies and MGAs across all 50 states, processing $1.5B in personal- and commercial-lines premiums annually. The platform is scalable, configurable, and cost-effective. Insuresoft is privately held, with offices in Tuscaloosa, AL, and University Park, IL. For more information, please visit www.insuresoft.com, email firstname.lastname@example.org, or call 866-299-1314.