Insurance Nerds

insurancebusinessmag | August 10, 2020

Cybersecurity insurance company Elpha Secure and Sterling New Age Cyber have partnered to launch ES-1000, an all-inclusive, complimentary cybersecurity package. A business would generally spend in excess of $300 per user annually for the protections offered by ES-1000, said Geraldine DelPrete, president of programs for SterlingRisk. From the moment a policy is bound, Elpha Secure focuses on mitigating risk and cyber threat,” DelPrete said. “In addition to performing its initial ES Th...

AUTOMOBILE INSURANCE

Lemonade, Metromile | August 01, 2022

Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today announced the closing of the acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million LMND shares, while Lemonade received a business with over $155m in cash, over $110m in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in harnessing precision data for auto insurance. “We launched Lemonade Car a few months ago, and...

INSURANCE TECHNOLOGY

Majesco | October 11, 2021

Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that long-term customer, Mountain West Farm Bureau, upgraded Majesco Policy for P&C to Majesco CloudInsurer®, a move that will improve operational effectiveness and decrease infrastructure costs. This move reflects the consistent move of existing Majesco customers to the Cloud. Like others who have made this shift, Mountain West hopes to leverage this upgrade to optimize ...

Progressive Insurance | April 09, 2020

Progressive Insurance has announced that it is providing approximately $1 billion to its auto insurance customers due to the reduced number of claims and less frequent driving brought about by the COVID-19 pandemic. Subject to state regulatory approval, the insurer’s personal auto customers who have a policy in force as of April 30 will be credited 20% of their April premiums in May. Additionally, personal auto customers with a policy in force as of May 31 will be credited 20% of their May...