Synergy Cloud

Access, analyse and action all claims and data in one place, with total transparency and complete control.

Synergy Cloud is a technology company specializing in web-based claims management solutions for the insurance industry. Its platform streamlines the end-to-end claims process, enabling insurers to enhance efficiency and effectiveness in handling claims. The company provides policy data management, real-time trend analysis, and tools to streamline collaboration among claims process stakeholders. Its platform includes features like policy enforcement, cost calculation, and detailed reporting, empowering users to make informed decisions throughout the claims lifecycle. Being cloud-based, the system enables rapid deployment without requiring complex installations.

Synergy Cloud Teams Up With Claim Technology

Diary of an Insurer: Claims Consortium Group’s Jeremy Hyams

InsurTech: Infrastructure

Synergy Cloud and Claim Technology partner to launch advanced claims solutions

Synergy Cloud is a technology company that specializes in claims management solutions for the insurance industry. The company's flagship product, Synergy Cloud, is a web-based software platform that links insurers directly to supply chains and customers, allowing for in-house processing of all claims. The system offers features such as graphical displays, customizable event labels, patient demographics, monitoring parameters, case history, and detailed reporting to support clinical decisions and reimbursement. Synergy Cloud's technology complies with national security standards including HIPAA in the US and GDPR in the EU.
In August 2021, Synergy acquired WeatherNet to enhance its weather data capabilities. The company has expanded its offerings to include a predictive complaints management tool using generative AI. Synergy Cloud's platform also integrates with SmartMonitor cardiorespiratory infant monitors, allowing clinicians to remotely monitor infants at risk for apneas, bradycardias, or desaturations. This integration aims to reduce the length of stay for newborns in the NICU and make home infant monitoring more profitable for home care providers.
Key customers and partnerships
Synergy Cloud caters primarily to insurers, MGAs, and healthcare providers. In August 2024, the company partnered with Claim Technology, a no-code claims automation and customer experience platform, to develop joint solutions for the insurer and MGA claims market. Their first joint initiative integrated Synergy Cloud's livestream video capability into Claim Technology's customer self-serve chatbot. The partnership also planned to launch the insurance industry's first zero-touch self-serve solution for surge events, such as flooding, and supply chain procure to pay (P2P) automation. Synergy Cloud has been exploring opportunities to expand its services outside the UK, including discussions with a business in Australia.

Synergy Cloud is a technology company specializing in web-based claims management solutions for the insurance industry. Its platform streamlines the end-to-end claims process, enabling insurers to enhance efficiency and effectiveness in handling claims. The company provides policy data management, real-time trend analysis, and tools to streamline collaboration among claims process stakeholders. Its platform includes features like policy enforcement, cost calculation, and detailed reporting, empowering users to make informed decisions throughout the claims lifecycle. Being cloud-based, the system enables rapid deployment without requiring complex installations.Key customers and partnershipsIn August 2024,&nbsp;<a href="https://sp-edge.com/updates/32821">Synergy Cloud partnered with Claim Technology</a> to create joint solutions for the property and casualty (P&amp;C) claims market by integrating Synergy Cloud's livestream video feature into Claim Technology's self-serve chatbot. This solution is available through Claim Technology's InsurTech marketplace.

AgentSync develops modern insurance infrastructure solutions that automate and streamline compliance and producer management processes for insurance carriers, agencies, and MGAs. The company's core product offerings include AgentSync Manage, Autopilot, and ProducerSync API, which help validate licensing, appointing, and personal information for insurance producers by connecting with the National Insurance Producer Registry (NIPR). In January 2024, AgentSync launched its first commercially available ProducerSync API, which allows insurance businesses to access and validate NIPR data through REST API architecture. The company's technology reduces manual data entry processes from hours to minutes by using APIs and cloud-native solutions. In 2021, AgentSync acquired Finvera and subsequently acquired eContractPro in 2022. As of December 2021, the company generated annual revenue of USD 29.3 million.
Key customers and partnerships
AgentSync has established strategic partnerships with several industry leaders including the National Insurance Producer Registry (NIPR), Salesforce, Varicent, DocuSign, Verified First, Accurate, and LIMRA LOMA. Veterans United Insurance is among the company's notable customers. The company's platform enables its customers to onboard producers in hours instead of the traditional timeframe of weeks or months.

AgentSync

Artificial is an insurance software business offering an algorithmic underwriting, data extraction and machine learning platform to commercial insurers, empowering them to write better risks, faster. We provide solutions to partners across the London and global markets, including Convex, Chaucer and more. Our platform specialises in instantly and accurately capturing data at the point of entry for use in downstream applications. We enable clients to augment this data through effortless integrations and use it to write risks algorithmically, build contracts and plug into other systems. Behind the platform is decades' worth of experience in engineering, insurance and analysis. We do more than just provide software; we work with you every step of the journey to make sure our technology drives growth, improves efficiency and reduces costs across your business.

Artificial Labs

Bambi Dynamic developed a white-label mobility platform for the insurance sector. Their technology generated personalized, usage-based insurance options for the mobility sector, with the platform calculating premiums based on individual user data including driver safety scores, on-demand activation/deactivation, and time or distance driven. The system accounted for occasional drivers and multi-use vehicles, and was designed to integrate with IT systems of insurance companies, OEMs, and Mobility-as-a-Service providers such as ridesharing, ride-hailing, carsharing, e-scooters, and delivery services. The company operated between 2017 and 2023, ultimately ceasing operations in March 2023.
Key customers and partnerships
The company partnered with The Phoenix Insurance Company in Israel to launch 'The Phoenix Drive', a pay-as-you-go private vehicle insurance product. This offering included a web/mobile onboarding sales and underwriting portal for direct customers and insurance agents, back-office interfaces for insurers, and a consumer mobile app. Through this partnership, Bambi Dynamic was also involved in running the InsureMyTesla program in Israel.

Bambi Dynamic

CLARA Analytics offers an AI-powered insurance claims platform, aimed at improving claims outcomes. Its core claims platform is called CLARAty.ai, which includes generative and predictive AI models developed specifically for casualty claims. Its platform includes several products: 1) Claims Document Intelligent Pro, 2) Triage, 3) Treatment, 4) Litigation, 5) Clara Fraud, and 6) Clara MSP Compliance.&nbsp;&nbsp;<a href="https://sp-edge.com/updates/32243">Claims Document Intelligent Pro</a> is an AI-powered tool that automates the review of claims documents, including legal demands and medical records. It can analyze thousands of pages in seconds, identify key information, and detect treatment patterns to assess risks, improving efficiency and reducing costs.CLARA Triage is an AI tool for claims professionals that predicts claim severity, identifies high-risk claims, and issues real-time alerts to help adjusters act proactively. It improves productivity, reduces costs, and enables faster resolution of simple claims.CLARA Treatment is an AI tool that scores healthcare providers to identify the best options for resolving workers' compensation cases quickly and effectively. It improves claim resolution times, enhances patient outcomes, and reduces costs by matching injured workers with the right providers.CLARA Litigation is an AI tool that analyzes attorney performance and provides insights to reduce the cost and impact of litigated claims. It offers strategic recommendations for case management and helps optimize attorney selection to support decision-making.<a href="https://sp-edge.com/updates/30120">CLARA Fraud</a> is an AI tool that analyzes large workers' compensation datasets to detect suspicious patterns and clusters of potentially fraudulent activity. It increases visibility into suspicious claims, supports SIU referrals, and reduces losses from undetected fraud.CLARA MSP Compliance is an AI tool that automates Medicare Secondary Payer (MSP) compliance by identifying Medicare beneficiaries, determining the need for Medicare Set-Asides, and assisting with mandatory reporting. It reduces compliance risks, improves accuracy, and saves costs in handling Medicare-related claims.In 2023, the company launched CLARAty.ai, a casualty claims intelligence platform using predictive and generative AI to support claims professionals. It provides insights, recommended actions, and advanced claim summaries to guide next steps, enhancing traditional systems and workflows.Key customers and partnershipsIts notable customers include Berkshire Hathaway Homestate Companies, AmTrust, Amerisure, and QBE.&nbsp;Moreover, the company was selected by Amazon in August 2024, as its technology partner to improve health and claim outcomes for its corporate workers' compensation claims.

CLARA Analytics

Coterie Insurance is a Cincinnati-based insurtech company that provides digital small business insurance solutions. Founded in 2018, the company specializes in three main types of business insurance: general liability, business owners' policies, and professional liability coverage. The company employs digital underwriting technology that sources publicly available data to enable instant coverage through a transparent quoting and binding process. Its platform features a qualification checker that indicates within seconds if a business falls within Coterie's appetite. As of June 2022, Coterie's insurance products were available across all 50 states and the District of Columbia. The company's policies are underwritten by Spinnaker Insurance Co. and Benchmark Insurance Co., both of which hold A-rated carrier ratings. The platform uses both ISO and proprietary coverage forms, with all policy documents, certificates, billing, and claims managed through a single dashboard. The system reduces paperwork by 80% compared to traditional methods by eliminating ACORD forms and manual underwriting processes.
Key customers and partnerships
The company serves small and micro-businesses across the US, with a particular focus on businesses with fewer than 20 employees. As of June 2022, Coterie worked with a network of 5,000 agents who provide personalized counsel to small business owners. The company's products are distributed both through independent insurance agents and brokers, and directly to business owners through its digital platform. The business maintains partnerships with Spinnaker Insurance Co. and Benchmark Insurance Co. who underwrite its insurance products.

Coterie Insurance

Providers of general, yet comprehensive, end-to-end solutions for insurance companies, covering various aspects of their operations. This includes core systems for policy administration, underwriting, claims processing, billing, and customer relationship management

Specialized platforms that offer lead generation and management services and tools for insurance providers. Tools can include telemarketing, internet, and social media lead generation, referrals, and lead analytics

Underwriting platforms that evaluate risks related to life insurance, health insurance, and related products such as disability and critical illness coverage. They may utilize medical underwriting criteria, genetic information, lifestyle factors, and demographic data to assess applicants' insurability

Platforms that specialize in assessing risks associated with property and casualty insurance, including home, auto, commercial property, and liability coverage. They may incorporate data sources such as property valuations, historical claims data, telematics, and weather patterns to evaluate risk factors accurately

Specialized platforms that streamline and automate claims processing workflows, from initial claim submission to settlement. They may offer software for claims intake, adjudication, fraud detection, and communication with policyholders and third-party service providers

Policy administration systems that focus on managing policy lifecycle activities, including policy issuance, endorsements, renewals, and cancellations. They provide insurers with tools to configure and manage policy rules, coverage options, and premium calculations. Platforms can also have additional functions for commission and performance tracking

Reinsurance technology providers offer a range of innovative tools and services to support reinsurers in managing their operations, assessing risks, and optimizing their reinsurance strategies. These solutions may include advanced analytics, catastrophe modeling, risk assessment tools, portfolio management systems, and underwriting platforms specifically designed for the reinsurance industry

PROMINENT_CATEGORY

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Synergy Cloud, a provider of claims management systems, has formed a partnership with InsurTech firm Claim Technology. The goal of the partnership is to create joint solutions for the property and casualty (P&amp;C) insurance claims market. 
One of the key outcomes of this collaboration will be the integration of Synergy Cloud's real-time video feature into Claim Technology's customer self-service chatbot. The chatbot is available to be plugged in and used immediately via Claim Technology's InsurTech platform.
Plans for future collaborative work between the two companies include the development of an entirely self-serve solution for surge events like flooding, and a point-to-point (P2P) automation system for the supply chain. The aim is to improve operational efficiency and customer satisfaction within the claims industry. 

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