Core Insurance, Insurance Technology
Businesswire | July 18, 2023
FINEOS Corporation (ASX:FCL) announced today that Securian Canada has selected FINEOS for its disability management claims administration software solution. Securian Canada is a leading insurance provider of innovative, life-ready insurance and protection solutions in Canada. The FINEOS claims administration solution is scheduled to go live this fall to support Securian Canada’s short- and long-term disability benefits programs.
FINEOS is the global leader providing end-to-end core software systems for life, accident and health insurance. The FINEOS Platform is purpose-built for the group and supplemental employee benefits market. More than a dozen customers in Canada use the FINEOS Platform, and FINEOS serves 7 of the 10 largest employee benefits insurers in the U.S.
“We are delighted Securian Canada has chosen FINEOS and look forward to building a long-term, mutually beneficial relationship,” said CEO Michael Kelly. “The FINEOS Platform will help Securian deliver an excellent customer experience and will bring automation and efficiencies to their operations, enabling their staff to maximize their time caring for Canadians in the moments that matter the most.”
“Securian Canada needs a best-in-class partner to support our ambitious strategic plans in the disability space,” said Sharla Postic, SVP Insurance Operations for Securian Canada. “We believe the FINEOS purpose-built platform and industry-leading capabilities in disability claims administration will help us continue to raise the bar in providing innovative insurance products and services to our customers.”
About FINEOS Corporation
FINEOS is a leading provider of core systems for life, accident and health insurers globally with 7 of the 10 largest employee benefits insurers in the U.S., as well as a 70% market share of group insurance in Australia. With employees and offices throughout the world, FINEOS continues to work with innovative, progressive insurers in North America, EMEA, and Asia Pacific.
PR Newswire | October 03, 2023
NSM Insurance Group, a global specialty insurance provider with more than $1.6B in premium across 25+ niche insurance programs, today announced the completion of its acquisition of Envisage International. Based in Neptune Beach, Fla., Envisage is a leading provider of global health and travel insurance plans for international students and cultural exchange participants around the world.
"The travel insurance market is booming and will continue to grow at a rapid pace — with the industry predicted to reach $41B by 2027. We plan to seize this market opportunity and become a dominant player in the space," said Bill McKernan, President of NSM Insurance Group. "Envisage is a market leader in international education and cultural exchange insurance with a talented team, strong customer base, established revenue relationships and cutting-edge technology infrastructure. They are an enterprising addition to our portfolio as we look to build our footprint in the international health and travel insurance space."
Envisage offers a wide range of international health and travel medical insurance products through its two brands, International Student Insurance (ISI) and Envisage Global Insurance (EGI). ISI serves colleges, universities, ESL programs, study abroad programs, students, teachers and scholars with A+ rated plans and best-in-class resources. EGI is the leading provider of group insurance plans to organizations in the J1 cultural exchange and global youth travel market, offering unparalleled service and custom-built technology to its clients around the world.
"We're absolutely thrilled to join forces with NSM to help us continue to grow and scale the business," said Keith Clausen, President of Envisage International. "Over the last two decades, our dedicated and talented team has helped us grow into the force we are today, and we look forward to extending that growth with NSM. NSM has the prowess and proven track record to help ISI and EGI grow by expanding our distribution channels, further enhancing our technology platforms and expanding our global market reach."
Over the past 33 years, NSM has developed a winning formula for building the industry's most successful and sustainable insurance programs, consistently outperforming competitors and driving industry-leading growth and profitability over the last four years. This latest acquisition complements NSM's robust portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance — backed by the company's state-of-the-art resources, including IT, operations, marketing, HR and finance.
For more information about NSM or for investment opportunities, please visit nsminc.com.
About NSM Insurance Group
NSM Insurance Group is a global specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.6 billion in premium across 25+ specialty insurance programs and brands around the world focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; general contractors; medical stop loss and managed care; staffing; and workers' compensation. For more information on NSM, visit nsminc.com.
About Envisage International
Envisage International Corporation specializes in international health and travel insurance under its two key brands, International Student Insurance (ISI) and Envisage Global Insurance (EGI). With more than 20 years of experience, we take a consultative approach to helping our clients understand their insurance needs, creating customized solutions and providing support every step of the way. With offices in the United States, Mexico, China and Europe, Envisage is well placed to help organizations around the world with their international insurance needs. You can find more information about Envisage, ISI and EGI at envisageinternational.com
Core Insurance, Insurance Technology
GlobeNewswire | August 10, 2023
Celina Insurance Group, a community-focused provider of P&C insurance for over 100 years, recently announced their selection of insurtech company Betterview. Celina will utilize Betterview’s Property Intelligence and Risk Management solution to drive more accurate assessments of property conditions during policy renewal.
Celina sought out an insurtech partner to obtain reliable and consistent data on roof condition, an especially relevant factor for Midwestern insurers dealing with inclement weather. Previously, Celina’s underwriters relied on time-consuming physical inspections to assess roof condition and often had to make adjustments later in the policy lifecycle. Betterview provided Celina with more accurate property data upfront and an extensive selection of roof-related property insights for improved risk selection and efficient underwriting.
“Betterview gave us even more than we asked for,” says Trish Harlamert, vice president of underwriting at Celina. “There are so many great datasets and tools on their platform, including a full, transparent assessment of overall roof condition and the ability to flag changes in property condition over time. This is extremely useful for renewals because we can see if a policyholder has added a swimming pool, trampoline, or even an additional structure since the last time we had eyes on the property.”
Betterview is confident their platform will drive more efficient renewal workflows for Celina. “Our platform empowers insurers like Celina with an instant, AI-powered view of current and historical roof condition. Our mature machine models can detect over two dozen relevant risk drivers, including staining, ponding, and missing shingles,” says Dave Tobias, chief operating officer and co-founder at Betterview. “Equipped with the best property data, they can make more informed decisions and collect adequate premiums without relying on costly, time-consuming physical inspections.”
Betterview is the Property Intelligence & Risk Management Solution the insurance industry depends on to identify and mitigate property risk, improve underwriting and inspection efficiency, and build a more transparent customer experience. Applying Artificial Intelligence (AI) and computer vision to aerial imagery and geospatial data, Betterview generates the most accurate property information insurers trust to automate pricing, underwriting, and renewals while focusing strategic action on critical properties. Combined with flagging, continuous monitoring, and pre-filed peril risk scores, Betterview is helping transform property insurance from Repair and Replace to Predict and Prevent. For more information, please visit www.betterview.com
About Celina Insurance Group
Celina Insurance Group is comprised of four mutual property and casualty insurance companies. The companies provide protection for autos, homes, businesses and farms through more than 500 independent agencies in five states. Founded in 1914 with headquarters in Celina, Ohio, the organization is committed to supporting its policyholders and communities. https://www2.celinainsurance.com