Acrisure Acquires AI Leader Tulco’s to the insurance brokerage industry

Business Wire | July 30, 2020

In a transformational move, Acrisure today announced that it has acquired artificial intelligence (AI) leader Tulco LLC’s insurance practice to bring best-in-class data science, AI, and machine learning capabilities to the insurance brokerage industry. This transaction enables true deployment of “insurtech at scale” as it combines the global distribution power of Acrisure, the fastest growing broker in insurance industry history, with the world-class, proven AI expertise of Tulco. The deal, which was conducted as a stock-for-stock trade resulting in Tulco becoming a significant minority shareholder in Acrisure was announced by Greg Williams, Co-Founder, CEO and President of Acrisure and Thomas Tull, Chairman and CEO of Tulco.

Spotlight

Many people assume that their basic homeowner’s insurance policy will pay for any type of damage that happens to their home and the property inside it, but what does homeowners’ insurance really cover? Before you assume you have the coverage you need, get to know the details of your specific policy to ensure your property is covered the right way at the right time.

Spotlight

Many people assume that their basic homeowner’s insurance policy will pay for any type of damage that happens to their home and the property inside it, but what does homeowners’ insurance really cover? Before you assume you have the coverage you need, get to know the details of your specific policy to ensure your property is covered the right way at the right time.

Related News

CORE INSURANCE,INTELLECTUAL PROPERTY

Brown & Brown, Inc. announces the asset acquisition of Smithwick & Mariners Insurance, MidCoast Insurance and Chapman & Chapman Insurance

Brown & Brown, Inc. | September 14, 2022

J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., and Scott Smithwick and Chris Smithwick, today announced that Brown & Brown of Massachusetts, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Smithwick & Mariners Insurance, MidCoast Insurance and Chapman & Chapman Insurance (collectively, Smithwick & Mariners). Originally founded in 1987 to service the marine industry (marinas, yacht clubs, boat builders, fishing vessels, tug operations and yachts), Smithwick & Mariners has evolved its capabilities to provide innovative risk solutions to business owners and individuals throughout Maine and greater New England. The Smithwick & Mariners companies are led by Scott Smithwick and Chris Smithwick. Following the acquisition, the Smithwick & Mariners team will continue doing business from their existing offices in Maine, Massachusetts and New Hampshire and will operate within Brown & Brown’s Retail segment. Scott and Chris will continue to lead the team and will report to Don McGowan, a regional president in Brown & Brown’s Retail segment. “The Smithwick & Mariners companies are recognized in Maine and throughout New England for their experience and industry knowledge in the commercial fishing, marine and personal yacht space. Scott, Chris and their dedicated team have a long and mutually successful relationship with their carriers, allowing them to deliver best-in-class insurance solutions to their customers. We are confident we share the same culture of customer-first solutions and are excited to welcome them to the Brown & Brown team.” -Don McGowan Scott Smithwick stated, The Smithwick & Mariners team is excited to be partnering with a firm like Brown & Brown who shares the same level of commitment to its customers, carriers and employees that we have for the past 35 years. We are very confident that this partnership will help to further strengthen Smithwick & Mariners’ product offering and level of service to both our marine and non-marine related customers. About Brown & Brown, Inc. Brown & Brown, Inc. is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With over 14,500 teammates in 450+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most.

Read More

INSURANCE TECHNOLOGY

Inszone Insurance Services Acquires B-W Insurance Agency, LLC

Inszone Insurance Services | July 22, 2022

Inszone Insurance Services, a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of B-W Insurance Agency, LLC. B-W Insurance was founded in 1984 by Bev Watenpaugh who entered the insurance industry after a successful professional career operating her own preschool. The agency was created to provide needed insurance for the more difficult driver and property owners. With the addition of husband Gene Watenpaugh and daughter and current owner Kim Steffen, this family-owned agency grew in the commercial space, supporting a diverse range of business industries. B-W Insurance was able to harness the power of word-of-mouth, as happy customers referred their friends and family to the agency and helped fuel their growth. “We are excited to bring B-W Insurance into the Inszone Insurance family, Through our acquisitions our agency has grown rapidly within the state of Colorado, we look forward to continuing to serve the state and provide additional resources and insurance options to protect all customers.” Norm Hudson, CEO of Inszone Insurance Services Inszone Insurance is expected to announce several acquisitions as well as new locations in the upcoming months. About Inszone: Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 30 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

Read More

INSURANCE TECHNOLOGY

Kanverse joins Guidewire Insurtech Vanguards Program – “Highlights its Zero-Touch Insurance Documents Processing for Insurers.”

Kanverse.ai | September 13, 2022

Kanverse.ai, a leading Hyperautomation platform, is pleased to announce that it has joined Guidewire’s Insurtech Vanguards Program. Through Insurtech Vanguards, Guidewire identifies and highlights the hottest insurance technology innovation in the P&C industry. The Insurtech Vanguards program takes this effort to the next level by offering a direct channel - that connects insurers with insurance technology companies. This program ensures that insurers can have exponential business impact through quick and decisive access to disruptive, cutting-edge insurance technology. “We are honored to showcase our product as an Insurtech Vanguard, Carriers can turbocharge insurance forms processing workflows with Kanverse Hyperautomation. Insurers can seamlessly integrate Kanverse across their business environments and witness zero-touch processing of inbound ACORD and supplemental forms with 99.5% accuracy.” -Dr. Akhil Sahai, Kanverse.ai CPO and Founding member We are thrilled to welcome Kanverse.ai to our Insurtech Vanguard Program, We launched Insurtech Vanguards to help P&C insurers gain new visibility into insurtechs’ cutting-edge technology and we are excited to introduce Kanverse to our customers,said Laura Drabik, chief evangelist, Guidewire. Insurers can now reimagine the insurance submission process with Kanverse. They can process ACORD and other supplemental forms with the Kanverse Insurance Document Processing product powered by hyperautomation. It automates ACORD and supplemental forms' ingestion, classification, and data extraction, approvals and filing. Kanverse Package View groups insurance forms for the submission intake process using AI (Artificial Intelligence). Furthermore, Kanverse AI can automatically adapt to changes witnessed in insurance forms without manual intervention or fine-tuning the system. About Kanverse.ai Kanverse.ai, a Hyperautomation company, offers a suite of AI-powered products. Key offerings include AP (Accounts Payable) Invoice Automation and Insurance Document Processing products. Kanverse supports various use cases across the enterprise to remove bottlenecks, streamline business processes, and minimize manual touchpoints across document processing heavy workflows.

Read More