CORE INSURANCE,LIFE INSURANCE
The Penn Mutual Life Insurance Company | November 25, 2022
The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that the company has maintained its dividend scale for 2023 and the Board of Trustees has approved a record $163 million payout to eligible policyholders in 2023.
Dividends are a key measure of a mutual company's performance and Penn Mutual has consistently paid dividends to eligible policyholders for nearly 175 years. This announcement extends the company's long track record of delivering strong performance and value to policyholders.
"We're proud that our dividend action over the last 20 years remains one of the strongest and most consistent in the industry, This noteworthy achievement, particularly given today's economic uncertainty, reflects our long-term perspective, a shared commitment to upholding the company's financial strength and serving the best interests of our policyholders."
-Dave O'Malley, President and CEO
About The Penn Mutual Life Insurance Company
For more than 175 years, Penn Mutual has been helping people get stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people's ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC.
The Standard and Noyo | October 21, 2022
Standard Insurance Company (The Standard), a leading provider of financial protection products and services for employers and individuals, has entered into a strategic partnership with Noyo. This partnership reinforces The Standard's commitment to digital transformation by bridging member enrollment and eligibility data across benefits technology platforms. The solution will enable faster group connection and processing times, as well as decreasing operational overhead for benefits administration.
By incorporating Noyo's capabilities around handling, standardizing, and transmitting data quickly and accurately, The Standard is making it easier for employers to administer their benefits and employee enrollments and reducing data issues that can disrupt coverage. The partnership will provide an enhanced billing experience and access to data, allowing information to pass quickly and seamlessly between stakeholders.
“The Standard is making a significant investment in our group insurance business to transform the way we connect with and provide service to our customers, We are investing to deliver a superior outcome for our customers through a unique combination of expertise, caring and digital experience."
-Jill Schlofer, second vice president of Implementation and Enrollment for The Standard
Key Partnership Benefits
Streamlines member maintenance updates including open enrollment, new hires, qualifying life events and demographic and termination changes across all group sizes.
Allows brokers to connect clients faster, spend more time advising their clients and less time on administration.
Performs member enrollment data audits to ensure eligibility changes are processed quickly and accurately.
I am incredibly excited to see an insurance carrier with more than a hundred years of history adopt the technology of the future, We look forward to transforming the way key benefits data is managed and enabling The Standard to focus on their mission to protect the lifestyles of their customers,said Shannon Goggin, CEO at Noyo.
About The Standard
The Standard is a family of companies dedicated to helping customers achieve financial well-being and peace of mind. In business since 1906, we are a leading provider of financial protection products and services for employers and individuals. Our products include group and individual disability insurance, group life, dental and vision insurance, voluntary (employee-paid) benefits, absence management services, and retirement plans and annuities for employers and individuals.
Noyo is the modern data infrastructure that makes frictionless employee benefits possible. Founded by leaders in benefits, insurance and API technology, Noyo is the first company transforming the underlying infrastructure of the benefits industry with seamless digital connectivity. With Noyo, crucial benefits data is instantly available anywhere it’s needed, unlocking new possibilities for how benefits are designed and delivered.
One Inc and The Oklahoma Farm Bureau Insurance | November 11, 2022
One Inc, the leading digital payments network for the insurance industry, announced today that Oklahoma Farm Bureau Insurance (OKFB), the largest domestic insurer in Oklahoma, has selected the One Inc digital payments platform to provide both inbound and outbound digital payments. This move will enable OKFB Insurance to adapt quickly to changing market demands and enhance customer service. The integration, which is to be deployed with the Guidewire InsuranceNow all-in-one, cloud-based core system, will enable OKFB Insurance and its users to accept and disburse payments using both ClaimsPay and PremiumPay products from One Inc.
OKFB Insurance, known throughout Oklahoma for its excellent customer service and efficient claims assistance, looks to maximize its services to insureds through this partnership with One Inc. The integration will harmonize the company’s payment infrastructure, making payment processes a more cohesive and seamless experience for both inbound, and outbound digital payments.
According to Stephanie Helling, vice president of information systems for OKFB Insurance, the implementation will be expedited due to InsuranceNow’s ‘out of the box’ integration into One Inc. Guidewire recently announced One Inc as its strategic partner for payments.
"Our integration with One Inc's suite of payments products will help build a strong digital infrastructure for Oklahoma Farm Bureau Insurance to deploy next-generation technology, OKFB Insurance is fully committed to using innovative solutions to monitor and improve the customer experience. Leveraging the One Inc Digital Payments Platform with Guidewire will help us modernize and strengthen our customer relationships and experiences at all stages of the payments process."
-Gary Buckner, executive vice president and general manager of OKFB Insurance
We applaud OKFB Insurance’s recognition of the advantages in running its business on the One Inc platform, We are humbled by the company’s vote of confidence in our digital payment solutions and capabilities and applaud OKFB’s mission of providing the best service to their customers,said Ian Drysdale, CEO, One Inc.
About One Inc
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payments, even for the most complex insurance use cases. As one of the fastest growing digital payment platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claims payments.
About The Oklahoma Farm Bureau Insurance
Since 1946, OKFB Insurance has worked to protect Oklahomans from the risks they face every day, whether it be home, auto, life, commercial or farm & ranch. With agents in all 77 counties, we are ready to serve our neighbors at a moment’s notice and are committed to helping our members and their families to insure their future.