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SnapRefund and Skyward Specialty Insurance Group announced a strategic partnership to modernize claim payment execution through SnapRefund's ClaimsSnap platform. The collaboration aims to automate workflows, reduce manual handling, lower loss adjustment expenses, and improve operational efficiency as claims volumes scale.
Skyward Specialty Insurance Group is using AI and technology to improve operational efficiency as insurance markets become more competitive. The company's expense ratio improved to 24.3% in Q2, with innovations like Sky View underwriting workstation and Bionic underwriting reducing submission time by 40% and improving quote speed by 35%. SkyScore and agentic AI automate surety tasks and risk assessment, helping underwriters focus on judgment-based decisions.
Skyward Group (Nasdaq: SKWD) ("the Group" or "the Company"), the specialty insurance organization whose operating businesses include Skyward Specialty Insurance Group, Inc.® ("Skyward Specialty")