October 02, 2024
PropertyCasualty360 Recognizes Insurtech Startup Schaefer City Technologies with its Insurance Luminaries 2024 Award for Technology Innovation
Southern California, [October 2, 2024] – Insurtech startup Schaefer City Technologies announced it has been selected for a 2024 Insurance Luminaries Award by PropertyCasualty360. Schaefer City Tech is honored in the Technology Innovation category. This award recognizes individuals, teams, organizations, programs, practices, and products that are modernizing the insurance landscape with fresh thinking and impactful strategies.
The Insurance Luminaries Award highlights Schaefer City Technologies’ commitment to revolutionizing the P&C industry through cutting-edge technology solutions. The company’s NaVel™ software is an early warning system to identify insurance claims with the potential of becoming a Nuclear Verdict® if they were to go to trial. Nuclear Verdicts® are most simply defined as jury verdicts over $10 million where the noneconomic damages far outweigh the economic damages in the case. Using predictive analytics based on parameters and attributes identified using more than 10 million data points sourced from tens-of-thousands of legal cases that results in Nuclear Verdicts®, NaVel™ provides an ever-updating predictive score throughout the life of a claim. Whether NaVel™ finds a claim to have a high or low risk of a Nuclear Verdict®, the insurance executive and claims professional can have a proactive, well-informed discussion on the best course of action—potentially saving the carrier millions of dollars.
“We are honored to be recognized as an Insurance Luminary in the Technology Innovation category,” said Denise Tyson, CEO of Schaefer City Technologies. “This award reflects our dedication to developing innovative AI-driven technology solutions that empower insurance executives and claims professionals with data that directly impacts an insurer’s bottom line.”
The PropertyCasualty360 Insurance Luminaries Award celebrates excellence across the industry, spotlighting efforts that drive meaningful change and push boundaries. Award winners are profiled on PropertyCasualty360.com.
For more information on Schaefer City Technologies and its award-winning innovations, visit www.schaefercitytech.com or follow us on LinkedIn at www.linkedin.com/company/schaefer-city-technologies-llc.
About Schaefer City Technologies
Schaefer City Technologies is an innovative insurtech company that delivers software solutions to help insurance and reinsurance companies and their defense counsel spot and defend against Nuclear Verdicts®. Its first product, NaVel™, is applied to existing claims systems automatically as claims professionals work their file—from First Notice of Loss to Litigation—detecting the potential threat of a Nuclear Verdict® and providing a prediction score, which adjusts throughout the life of a claim as new information is added to the file. Schaefer City Technologies is the recipient of the 2024 Innovation Award from Business Insurance and a 2024 Insurance Luminaries Award from PropertyCasualty360. For more information or to request a demo, visit www.schaefercitytech.com.
Media Contacts:
Laura Desjean, Chief Marketing Officer
laura@schaefercitytech.com, 858-900-3005
Jennifer Johnston, Plat4orm
jennifer@plat4orm.com, 415-547-9708