RISK MANAGEMENT, INSURANCE TECHNOLOGY
Businesswire | May 19, 2023
Socotra, Inc. announced availability of their insurance policy core platform Connected Core in AWS Marketplace. This move will make it easier for insurers to adopt the platform, resulting in faster implementation times and improved efficiencies. AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS).
Socotra's availability in AWS Marketplace is an important step forward in the company's mission to serve the insurance industry through better innovation and technology. It further solidifies Socotra's position as a leading provider of modern enterprise insurance platforms, offering insurers the ability to quickly launch new products, reduce operational costs, and improve customer experiences. Socotra's Connected Core is built on a modern cloud-native architecture, providing insurers with greater flexibility and agility to adapt to evolving market conditions. The platform is highly configurable, enabling insurers to rapidly launch new products and services, and automate underwriting, billing, and claims processes.
“For years, Socotra has valued and enjoyed our enduring relationship with AWS. As we introduce this new facet to our relationship, we believe AWS Marketplace opens the door for insurer customers to leverage Socotra’s Connected Core to modernize and speed their product and service offerings to market,” said Mike Benayoun, Director of Partnerships at Socotra. “AWS Marketplace provides our customers a trusted, convenient, and standardized means of purchasing our software, while confidently deploying on AWS.”
This news comes on the heels of the recent launch of Socotra CorePlus, a line of complete insurance IT solutions designed for Homeowners and Auto, composed of Socotra Connected Core, seamlessly integrated via Socotra App MarketPlace with industry-leading software and data providers. Socotra CorePlus is designed to decrease risk and costs, while increasing speed-to-market and standardization. Through the new availability in AWS Marketplace, insurers can shorten procurement times, implement the controls needed to operate with confidence, and enable their organizations to unlock innovation.
Socotra brings unparalleled speed, flexibility, and choice that gives insurers more control over their businesses. With Socotra’s complete insurance solutions, insurers and MGAs of all sizes can accelerate product development, reduce costs, and improve customer experiences. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable.
CORE INSURANCE, RISK MANAGEMENT
Businesswire | May 30, 2023
Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today that it has acquired Citizens General Insurance Brokers, Inc, located in Auburn, CA.
Citizens General Insurance Brokers, Inc., founded in 2011 by Philip McClendon, has created a niche for itself in the industry by providing value-based insurance solutions specifically tailored to small businesses and construction industries. Their focus on quality and swift customer care has propelled them to the forefront of the industry in a short span of time.
With the acquisition of Citizens General Insurance Brokers, Inc, Inszone has further solidified its position as a leader in the commercial insurance industry. Inszone’s capabilities and resources will enable them to provide an even better service experience to customers of Citizens General Insurance Brokers, Inc and help them manage their risks more effectively.
“At Inszone, we share Citizens General’s passion for serving customers and providing them with the best possible solutions,” said Chris Walters, CEO of Inszone Insurance Services. “We are thrilled to integrate them into the Inszone family and look forward to collaboratively reaching out to a wider demographic across various industries.”
Philip McClendon, the previous owner of Citizens General Insurance Brokers, Inc, said, “The process of the merger with Inszone has been an absolute pleasure. From the highest levels of leadership to the entire team, everyone at Inszone has been professional, supportive, and aligned with our values. Despite their rapid growth and size, Inszone maintains a warm and personable culture that resonates with our own, and it does not feel like a typical corporate environment.”
Inszone Insurance is confident that their shared vision of providing value-based insurance and quality customer care will enable them to achieve even greater success in the future.
About Inszone Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that 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 42 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.
CORE INSURANCE, COMPLIANCE
PRnewswire | April 21, 2023
BrokerTech Ventures (BTV), the industry's first broker-led convening platform and accelerator program, today announced the addition of its newest industry-leading insurance wholesaler partner, Jencap Group.
"We could not be more pleased to announce the addition of Jencap to our wholesaler community network. We view our carrier and wholesale partners as integral in terms of our overall strategy in building out BrokerTech Ventures — and specifically, our Innovation Tower," said Dan Keough, Holmes Murphy chairman and CEO and co-CEO of BTV. "Insurance companies are individually spending multi-millions of dollars each year in innovation, and we believe that BTV can be the convening platform to provide access into the unknowns, idea-sharing, investing, and distribution for the benefit of all."
The addition of these renowned insurance brands brings the BTV industry portfolio to 13 of the most sizable and innovative brokerage firms in North America and 16 of the most notable and respected insurance companies and wholesalers with both domestic and international presence.
"Jencap is committed to employing innovative technology solutions that improve our speed to market, operational efficiencies, data analytics, and the overall platform experience of our partners," said John LaCava, Jencap's Chief Operational Officer. "We look forward to collaborating with BTV members and insurtech companies to maintain our position in the marketplace as industry leaders."
In addition to its expansive broker and carrier partner portfolio, BTV now also represents 60 insurtech startups from around the world, inclusive of those in the U.S., Israeli, and Latin American accelerator programs, with investments and commercial engagements with many.
About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures (BTV) is the first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry. Founded in 2019, BTV provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BTV invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels.
About Jencap Group
Jencap is one of the largest wholesalers in the U.S. with notable industry-leading expertise in wholesale brokerage, binding authority, and program management. Its specialized divisions and affiliate organizations provide niche underwriting prowess, broad market access, and nationwide influence. Headquartered in New York, Jencap leverages its collective power to exceed the expectations of more than 20,000 independent agency partners.