October 02, 2024
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PropertyCasualty360 Recognizes Insurtech Startup Schaefer City Technologies with its 2024 Insurance Luminaries Award for Technology Innovation
Southern California, [October 2, 2024] – Insurtech startup Schaefer City Technologies announced it has been named to PropertyCasualty360’s Insurance Luminaries Class of 2024. Schaefer City Tech is honored in the Technology Innovation category. This recognition celebrates innovation in the property and casualty insurance industry. The program spotlights top professionals, 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.
My colleagues and I are thrilled to be able to recognize pace-setting insurance organizations, programs, practices, teams, and individuals as part of the annual PropertyCasualty360 Insurance Luminaries recognition program,” said Editor in Chief Elana Ashanti Jefferson.
“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. The 2024 honorees were selected by a panel of industry experts based on how well they stated and achieved goals with regards to the nomination category; how impactful their work has been; how dedicated the nominee has been to furthering modernization and humanization in the P&C insurance business; and how committed and dedicated the nominee has been to high ethical standards, service, and excellence. Award winners are profiled on www.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