Jun 8, 2022   SOURCE: BusinessWire

Praxent Supports Resolved Risk in Automating Verification of Additional Insured Coverage

Praxent, a fintech UX design and engineering partner to financial companies, today announced that it has supported Resolved Risk by developing a clickable prototype and website, strongly positioning them for next steps including marketing, validation and full platform development.

Resolved Risk is a digital insurance platform that validates risk transfer and tracks vendor compliance for developers and general contractors in the New York commercial general liability market. The platform verifies that subcontractors buy satisfactory additional insured coverage for developers and general contractors. Insufficient additional insured coverage costs developers, general contractors and their carriers tens of millions of dollars a year. Working together, Resolved Risk and Praxent were able to turn a series of tablet design sketches into an interactive prototype and website, accelerating frontend development in parallel with testing.

"From the beginning, we were impressed by Praxent's strong design expertise and understanding of what we are trying to achieve," said Daniel London, president of Resolved Risk. "Praxent has consistently delivered what we’ve asked for, capturing our vision and transforming it into a solid proof of concept. We now have credibility and a tangible product, paving the way toward validation and development."

With Praxent’s design and development expertise, Resolved Risk was able to create a clickable prototype along with a web app map, wireframes and style guide – in just eight weeks. Resolved Risk is leveraging the prototype to garner carrier buy-in and purchase commitment before fully investing in product development.

"Resolved Risk has created a better, more efficient way to track and validate insurance coverage for construction trade subcontractors," said Tim Hamilton, founder and CEO of Praxent. "Together, we were able to turn their idea into a clickable prototype and marketing website, effectively illustrating the insurtech's value proposition. We are proud to have played a part in Resolved Risk’s design and development journey as they look to improve the industry."

About Praxent

Austin-based Praxent is a fintech UX design and engineering partner to financial companies determined to lead in digital. With a unique blend of expertise in product management, user experience design, and software development, Praxent has helped more than 400 organizations launch, scale, and modernize products that win in an increasingly digital world. Visit praxent.com to learn more.