American International Group’s technology-focused subsidiary formerly known as Hamilton USA has a new name, Blackboard.
Hamilton USA was part of Hamilton Insurance Group. AIG announced plans to buy the unit in May when its chief executive officer, Brian Duperreault, left to become AIG’s new leader. The $110 million acquisition deal closed on Oct. 2.
The Hamilton USA/Blackboard platform uses technology and data science. AIG plans to deploy it to modernize its commercial insurance business underwriting and claims practices. Hamilton USA Chief Executive Officer Seraina Macia remains CEO of Blackboard (known formally as Blackboard U.S. Holdings, Inc.).
AIG said the new name represents “a clean slate” and establishes an alternative option “for those in the industry who want to work together to leave behind the burden of inefficient, manual processes and outdated systems.”
Blackboard will be run as a startup, backed by AIG’s resources. Its platform will launch in the second half of 2018.
Source: AIG
Topics InsurTech Commercial Lines Tech Business Insurance AIG
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