Two startups — Atidot Software Ltd. and Ushur Inc. — are trying this year’s hot insurtech strategy: Solving narrow, but terrible, problems for life insurers.
Atidot is offering to help life insurers manage orphaned policies and reassign them to agents.
Ushur says it can use artificial intelligence to help life insurers sort and manage customer email.
Dror Katzev, chief executive officer of the Tel Aviv-based company, says in a statement about the Policy Reassignment Management system that orphaned policies account for about 30% of a typical life insurer’s book of business.
Efforts to reassign orphaned policies may cause about 15% of the policies to lapse, Katzev says.
“We are transforming an unavoidable high-risk interaction point into a highly beneficial one, ensuring that orphaned policies get assigned to the best agent to service and update the policy,” Katzev says.