9.6% Permanent rate decrease in auto insurance policies for all State Farm Insurance policyholders

State Farm | July 07, 2020

The Louisiana Insurance Commission has approved a 9.6% permanent rate decrease in auto insurance policies for all State Farm Insurance policyholders in the state, commissioner Jim Donelon announced on Monday. This marks the fourth occasion State Farm has reduced rates in recent times. In 2018, the insurer slashed 4.5% off auto insurance rates, followed by a 6.5% cut in 2019 and a 2.3% reduction last March. The company has decreased rates by a total of 23% in the last two years.

Spotlight

Please take a minute to watch this video to find out why the life insurance coverage you have through your job is more than likely not nearly enough coverage.

Spotlight

Please take a minute to watch this video to find out why the life insurance coverage you have through your job is more than likely not nearly enough coverage.

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INSURANCE TECHNOLOGY

APOLLO Insurance Partners With Homewise to Offer Homebuyers Access to Integrated Digital Insurance

Apollo Insurance Solutions Ltd | September 15, 2021

Apollo Insurance Solutions Ltd. (“APOLLO Insurance”), Canada’s leading online insurance provider, has partnered with Homewise to offer immediate digital insurance products, specifically tailored to Canadian home buyers that use their website each year. Launched in 2019, APOLLO Insurance now offers the largest selection of online insurance in Canada, through brokers and integrated partnerships like this one. Through APOLLO, consumers can get a quote and purchase insurance in five minutes, from any device, 24/7. Homewise’s mission is to help Canadians save thousands on their mortgages, offering the best mortgage rates in Canada through their list of lenders. Homewise can now offer digital insurance to its thousands of users, through APOLLO. Homewise is exceptional at providing Canadians the best mortgage rate and services, creating a better experience for home buyers while also giving users the opportunity to save money,APOLLO is excited to partner with Homewise, as users can now access the right insurance product for them, entirely online, through APOLLO. - Director of Business Development Jill Carberry-Feldman. Launched in 2018, Homewise wanted to provide Canadians with a better mortgage process that puts the buyer first. Homewise introduced a simple mortgage process with the goal of saving Canadian’s time, confusion, and money. With the Homewise free platform, they do the work for their users, negotiating with their large list of lenders to find them a great mortgage that meets their unique needs. Homewise has provided mortgage advice to clients across Canada, with over $10 billion of home transactions. Homewise is changing the face of the home buyer marketplace and will continue to help Canadians move into their homes easily, confidently, and with extra money in their pocket. “We are excited to partner with APOLLO to provide even more options to our clients in their home buying journey while simplifying their experience. Focusing on our goal of saving clients time, confusion, and a lot of money,” - Co-Founder and CEO Jesse Abrams. APOLLO’s proprietary technology platform, the APOLLO Exchange, transacts insurance business in real-time and leverages extensive data and sophisticated algorithms to quote, collect payment, create and deliver policies. Thousands of types of small businesses and individuals are able to buy online without human intervention. About APOLLO Insurance APOLLO is Canada's leading online insurance provider. Our proprietary platform, the APOLLO Exchange, allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect payment, and issue policies for thousands of types of small business and individuals without human intervention.Through traditional agents and embedded finance partnerships APOLLO is redefining the distribution of insurance. About Homewise Homewise makes the mortgage process simple, all with the goal of saving Canadian’s time, confusion, and a lot of money. After applying online in only 5 minutes, Homewise searches the market of over 30 banks and lenders to find borrowers their best mortgage – tailored to their specific needs. Borrowers are also set up with a personal Homewise Advisor to guide them at each step. Whether it’s pre-approval, approval, refinance, or switch, Homewise makes getting the best mortgage simple.

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CORE INSURANCE

Hub International Strengthens Healthcare & Construction Insurance Capabilities With Acquisition Of The Assets Of Eaton-Provident Group In Arizona

Hub International Limited | October 08, 2021

Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced that it has acquired the assets of Eaton-Provident Group, LLC (EPG Insurance). Terms of the transaction were not disclosed. Located in Scottsdale, Arizona, EPG Insurance is a property and casualty insurance firm serving businesses, families and individuals. EPG Insurance specializes in various industries, including senior living and construction, which supports Hub's Specialty practices by complementing and strengthening its existing capabilities. EPG Insurance's keen understanding of the insurance business, their broad and multidisciplinary experience, and our shared culture and values makes them an ideal addition as we continue to grow in the region and guide clients, - Randy Perkins, President of Hub Southwest. EPG Insurance Principals Tim Schmidt, Greg Budiac and Jeff Schmidt, and the rest of the EPG Insurance team will join Hub Southwest. We are committed to our clients and look forward to continuing to help them protect their businesses and assets with expanded services, solutions and value through Hub, - Mr. Tim Schmidt. About Hub's M&A Activities Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.

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Noyo Secures $12.5M Series A Funding and Announced Partnerships with Humana, Ameritas

Cision PR Newswire | September 28, 2020

Noyo, the leading API platform for improving the speed and accuracy of health insurance data exchange, today announced that it has closed $12.5M in Series A funding from Costanoa Ventures and Spark Capital, with continued support from early investors including Homebrew, Fika Ventures, Precursor Ventures, Core Innovation Capital, Garuda Ventures and Webb Investment Network. The new funding will extend Noyo's breakthrough technology to support the entire insurance lifecycle from start to finish, with APIs for everything from price quotes through member enrollment. Noyo also announced new partnerships with leading insurance carriers Humana and Ameritas, aimed at improving the overall consumer experience by enabling seamless and secure data connections to enroll members faster and eliminate coverage-impacting errors.

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