LIFE INSURANCE, INSURANCE TECHNOLOGY
PRnewswire | March 24, 2023
Simply Business, LLC., a Boston-based digital insurance company focused on small businesses, today announced it will offer several of its commercial insurance solutions through AmSuisse, an insurance wholesaler with an extensive portfolio of products and speciality programs designed for independent agents.
"As we continue to expand our reach with independent agents, it's important to partner with trusted industry experts who share our vision of simplicity, choice and value," said Simply Business Group CEO David Summers. "This partnership with AmSuisse allows us to further our mission of providing small business owners with insurance solutions that fit their needs and helps us enable independent agents to efficiently serve their clients using our online platform."
Through the AmSuisse online quoting experience, independent agents will have access to a variety of Simply Business' insurance products designed for micro and small businesses.
"In today's tech-enabled environment, retail agents want a wide array of carrier and coverage options at their fingertips," said AmSuisse CEO Josh Hamann. "AmSuisse is extremely excited to partner with Simply Business to provide agents with access to a leading-edge digital small business insurance platform that is easy to navigate and designed to help them retain and grow their business."
About Simply Business
Simply Business is changing the way small business owners find business insurance by offering customers tailored insurance coverage online. The company began in the United Kingdom and expanded to the United States in 2017, naming Boston home. With thousands of customers, Simply Business has become a leader in the space through its commitment to a customer-first model, focusing heavily on simplicity, choice and value.
Established in 2013 and based in Katy, Texas, AmSuisse, Inc. has quickly risen to prominence as an insurance wholesaling leader. The company provides a broad range of insurance products, including many specialty programs for hard-to-place risks. Its founding goal is to provide its insurance agents and insurance broker partners with unrivaled service and selection. As a closed insurance wholesaler, it carefully selects the firms it works with, allowing it to deliver comprehensive insurance solutions, responsive service, and industry-leading support. AmSuisse believes in forging long-term business partnerships – a belief that has helped the company and its partners thrive in a competitive marketplace.
WORKERS COMPENSATION, COMPLIANCE
PRweb | March 23, 2023
Future Capital has announced an exciting new partnership with Ease that enables insurance brokers to offer professional retirement planning services as a voluntary benefit to their clients through the award-winning Ease platform.
A 2021 J.P. Morgan survey showed that 62% of retirement plan participants wish they could completely hand over retirement planning. With this first-of-its-kind partnership, brokers can offer professional retirement planning as a voluntary benefit without the need for special licensing, retirement industry knowledge, or a relationship with an employer’s particular retirement plan.
"We're thrilled to partner with Future Capital to offer retirement planning services through the Ease platform, " said Ease CEO and Co-Founder, David Reid. "We know employers want to provide professional retirement planning to current and prospective employees. We’re proud to make this valuable new financial wellness benefit available to insurance brokers so they can bring even more value to their clients.”
A technology-driven registered investment advisor (RIA) specializing in retirement planning and asset management, Future Capital makes it easy for insurance brokers to offer professional retirement planning services by eliminating the need for technical integrations, special licensing, or existing relationships with retirement plans.
"We're proud to be the first retirement solution to partner with Ease,” said Jay Jumper, Founder and CEO of Future Capital. "We believe that our solution is a perfect fit for the powerful HR and benefits platform Ease has built, and we look forward to helping insurance brokers expand their offerings and grow their businesses."
Ease is the #1 rated benefits administration and HR software for businesses with 2-250 employees, powered by insurance brokers. More than 2,300 agencies trust Ease to help them and their clients grow. Over 85,000 businesses trust Ease to manage benefits & HR for 3.4 million+ employees. Visit ease.com for more.
About Future Capital
For more than 20 years, Future Capital has provided powerful tools, customized services, and professional management of retirement assets to help employees retire with confidence. For more information, visit futurecapital.com.
CORE INSURANCE, INTELLECTUAL PROPERTY
PRnewswire | March 21, 2023
NSM Insurance Group, the nation's leading specialty insurance provider with more than $1.5B in premium across 25+ niche insurance programs in the U.S. and U.K., today announced the completion of its acquisition of Sequoia Reinsurance Services, LLC, IOA Re, LLC and its divisions Rockport Benefits and Insurance Resources and Auditing Services, LLC, subsidiaries of ELMC Risk Solutions, LLC ("ELMC"), a portfolio company of J.C. Flowers & Co. ("J.C. Flowers"). J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry.
"We're entrepreneurs at heart and we seize compelling opportunities to partner with high-performing companies with a proven track record of profitability," said Bill McKernan, President of NSM Insurance Group. "We're excited about the synergies we have with the individual teams and the significant growth potential for each business. Our team is committed, motivated and laser focused on driving the continued growth and innovation of these three businesses."
"J.C. Flowers is proud to have supported ELMC's growth over the years to include some of the most well-respected managing general underwriters in the industry," said Eric Rahe, Managing Director and Co-President of J.C. Flowers. "This is a positive outcome, and we believe these companies will continue to thrive as part of NSM."
Richard Fleder, CEO of ELMC added, "Sequoia Re, IOA Re and Rockport are remarkable MGUs with terrific management teams. We are very happy to have found a great home for them!"
The acquired businesses are industry leaders in the field of medical stop loss insurance and managed care insurance — delivering robust and innovative insurance solutions to their clients and broking partners.
"We're thrilled to join the NSM family of best-in-class insurance offerings that truly lead the way in delivering comprehensive products to our distribution partners," said John Parker, President and CEO of IOA Re. "NSM is well respected throughout the industry for building successful businesses and their unparalleled expertise, resources and capacity will help take our collective businesses to new heights."
Dan Bolgar, President and CEO of Sequoia Reinsurance Services added, "The Sequoia team is delighted to join forces with NSM. Not only is this validation of what the team has built over our short history, but we are joining a firm whose very foundation is delivery of product and consistent value to its risk partners. We know NSM can help us navigate marketplace change while we continue to enhance and innovate our product offerings."
Rockport Benefits is co-led by managing directors Amy Argeros and Heidi Herlihy, industry veterans with extensive experience in the medical stop loss industry. "We are truly energized about partnering with NSM to expand our presence in the marketplace," said Ms. Argeros and Ms. Herlihy. "As a highly-respected and reliable managing general underwriter known for delivering unparalleled service and creative stop loss solutions, we believe the future is very bright with NSM."
Over the past 32 years, NSM has developed a winning formula for building the industry's most successful and sustainable programs, consistently outperforming competitors and driving industry-leading growth and profitability over the last four years. These acquisitions complement NSM's robust portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance — backed by the company's state-of-the-art resources, including IT, operations, marketing, HR and finance.
About NSM Insurance Group
NSM Insurance Group is the nation's leading specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.5 billion in premium across 25+ specialty insurance programs and brands in the U.S. and U.K. focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; staffing; and workers' compensation. For more information on NSM, visit nsminc.com.
About J.C. Flowers & Co.
J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has approximately $4 billion of assets under management. J.C. Flowers has offices in New York, London and Palm Beach with a 21-person investment staff who have a combined 300+ years of experience. Over its 25-year history, J.C. Flowers has invested more than $17 billion of capital in 65 portfolio companies in 18 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. For more information, please visit www.jcfco.com.