INSURANCE TECHNOLOGY

Agentero Partners with Digital Insurance Carriers

Agentero | December 03, 2020

Agentero, a tech-enabled insurance aggregator, announced that it has integrated with five leading digital carriers and partners, including Openly, Clearcover, Cover, Haven Life Insurance Agency and Aon Edge to provide tech-enabled market access for independent insurance agents on its platform. Agentero's platform combines market access to digital carriers with data-driven technology that proactively identifies the needs of policyholders, matches them to the best products and streamlines the selling process for agents.

Founded in 2017, the company raised a $10 million seed round of funding led by Foundation Capital and Union Square Ventures in early 2020. Today it works with more than 500 independent agencies and is growing rapidly. Through its network of insurance carriers, Agentero provides access to homeowners, auto, flood, and life insurance, and is continually adding tech-forward carriers to help agents meet the needs of the modern consumer.

"Agents, which today sell more than 50% of P&C and life insurance in the US, are the present and future of insurance distribution, helping consumers select the right coverage for their risks. At the same time, most consumers are seeking a highly customized, digital buying experience. Our vision is to create a smarter, more intuitive insurance ecosystem that is built on strengthening agents' ability to compete in the digital market by giving them best-in-class data-driven technology combined with direct access to today's most innovative leading digital carriers," said Luis Pino, CEO of Agentero.

"Openly's value proposition to independent agents is a transparent and efficient platform that provides agents' customers with superior and comprehensive coverages," said Matt Wielbut, Openly CTO and co-founder. "Partnering with Agentero brings together two teams that are focusing on revolutionizing the insurance purchasing process by aligning cutting-edge technology and superior products.

About Agentero
With more than 500 insurance agencies, Agentero uses robust data and analytics enabling agents to proactively offer insurance choices to customers at the right time, every time, mitigating risks for consumers while growing relationships and revenue for agents. Founder and CEO Luis Pino was the first employee at insurtech CoverWallet, and has also worked for McKinsey & Co. The company is backed by Foundation Capital, Union Square Ventures in addition to other investors.

Spotlight

Digital claims processing offers significant benefits for both insurers and their customers. Based on this assumption, Post and PayPal held a roundtable to explore how the sector can keep up the momentum, and discuss what might be considered as a best-in-class experience for an online claims journey.

Spotlight

Digital claims processing offers significant benefits for both insurers and their customers. Based on this assumption, Post and PayPal held a roundtable to explore how the sector can keep up the momentum, and discuss what might be considered as a best-in-class experience for an online claims journey.

Related News

CORE INSURANCE

Inszone Insurance Services Acquires Capizzi Insurance

Inszone Insurance | November 24, 2022

Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of Capizzi Insurance. Capizzi Insurance was founded in 1971 by Vincent Capizzi. With one location Capizzi Insurance primarily operated as a standard-preferred personal lines and small-mid commercial lines property and casualty agency. Throughout their history they have focused on helping their clients in finding the best program that fits their specific needs. The Capizzi Insurance team will transition over to Inszone’s Lakewood location and continue serving customers under the Inszone Insurance brand. Customers will experience a seamless transition and continue to receive the same standards of service they have come to expect. “We’re excited to welcome Capizzi Insurance into the Inszone Insurance family, We continue to grow within specific areas in California, we are happy to be able to add additional avenues of support and additional service offerings as we expand in the state." -Chris Walters, CEO of Inszone Insurance 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 32 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

Read More

CORE INSURANCE

Utah Business Insurance Company Wins Award for “Data and Analytics Innovator of the Year” at Excellence in Insurance Innovation, Sponsored by Insurity

Insurity and Utah Business Insurance Company | November 10, 2022

Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced that Utah Business Insurance Company (UBIC) is the recipient of the “Data and Analytics Innovator of the Year” award at Excellence in Insurance Innovation. The Excellence in Insurance Innovation awards ceremony took place in Las Vegas. It recognized the outstanding performances of P&C organizations in categories including exceptional policyholder service, digital transformation, and excellence in data and analytics. UBIC is a monoline workers’ compensation carrier that serves roofers, framers, and excavators, and it needed to be strategic in how it deployed resources in a traditionally high-risk sector. They effectively navigated these complexities using Insurity Predict’s real-time predictive insights and data consortium to process a significantly higher volume of submissions. “UBIC is a data-driven company, and we have fostered a culture around predictive modeling thanks to the ease of using Insurity Predict, We brought the Insurity Predict model into play just a few years ago, transforming how we do business. We went from running loss control on every risk to deploying our resources across submissions more intelligently. Instead of spending time servicing every account the same way, we now tailor these experiences for our policyholders based on the predictive risk scores.” -Tyler Nielsen, Chief Operating Officer at UBIC One of the ways UBIC innovated with this model was by extracting the data from the Insurity Predict system and integrating it with their business intelligence platforms. This way, everyone from the underwriters to loss control to customer service has access to this data in their reports. The sheer volume of data that insurance organizations have can overwhelm and make it difficult to write new business and quickly make the right underwriting decisions, Using the Insurity Predict Model, UBIC has made strides in leveraging predictive data and analytics to manage their risk portfolio better, giving them the ability to assess risk much more quickly and accurately over the long term,said Sylvester Mathis, Chief Insurance Officer at Insurity. About Insurity Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 15 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform and with unrivaled industry experience and the industry’s most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates. About Utah Business Insurance Company Based in South Jordan, Utah, UBIC has become an insurance industry leader in workers' compensation. UBIC is dedicated to meeting the needs of its agents and policyholders with a strong emphasis on providing outstanding customer service and results-oriented risk management programs.

Read More

CORE INSURANCE, COMPLIANCE

Utmost Group Upgrades Financial Compliance Capabilities with Napier

Napier and Utmost Group | February 01, 2023

On January 31st, 2023, Utmost Group, which offers insurance and savings solutions, enhanced its financial compliance capabilities in collaboration with Napier, a customizable anti-financial crime compliance provider. Napier's client screening solution, which started operations in just 21 days, was implemented to bolster the company's existing compliance strategy and to facilitate future expansion. The Napier team met these stringent deployment deadlines to meet the time constraints imposed by the expiration of licenses held by the outgoing partner. The Client Screening solution from the company will enhance existing systems by automatically screening clients against sanctions, PEP (Politically Exposed Persons) lists, and other essential watchlists at appropriate intervals. In addition, the AI capabilities will allow for faster screening and help lower the number of false alarms. Paul Smith, Chief Risk Officer at Utmost International Isle of Man, shared, "We needed to rapidly migrate and then implement our existing screening protocols to the new system, so we were delighted that Napier was able to merge two legacy systems neatly into a single hosted instance while levelling up our capabilities. This really made the difference when managing the upgrade of systems that were being made end-of-life earlier than expected." He added, "Compliance requirements inevitably evolve over time as risks also change and criminals become more sophisticated, so we are delighted to have a robust system now in place that will keep us one step ahead of our obligations and enhance our overall services." (Source – Business Wire) About Napier London-based Napier is a compliance technology specialist that operates a platform based on extensive experience and in-depth knowledge. Combining big data technologies with AI and machine learning, the company offers products that improve efficiency and reduce risk. Its strategy underpins the client's policy, process, and procedure, allowing them to concentrate on specific outcomes. The compliance platform is quick, scalable, easily configurable, and intuitive. It rapidly bolsters AML defense and trade compliance capabilities while achieving the compliance requirements and challenges of any industry. About Utmost Group Utmost Group, headquartered in London, is a leading insurance and savings solutions provider. The company offers innovative, adaptable solutions that help clients secure their financial futures. The main divisions of the Group are Utmost International, Utmost Life and Pensions. The key business lines of Utmost International consist of Utmost Corporate Solutions and Utmost Wealth Solutions. The Group has approximately £58 billion in AUA and 550,000 customers as of June 30th, 2022, with over 1,500 employees across all its businesses.

Read More