AGPM Selects Prima XL as its Cloud-Based Reinsurance Management Platform.

GlobeNewswire | September 11, 2020

Prima Solutions, the leading French insurtech group for insurance and reinsurance professionals in North America, Europe, and Asia Pacific, has announced that AGPM has selected Prima XL as its cloud-based reinsurance management platform. The insurer is placing its confidence in Prima XL to optimize its reinsurance operations. The deployment of the Prima XL cloud platform is part of the group’s strategic initiative to streamline its information systems. After acquiring Prima P&C in 2004, Prima Analytics in 2007, and Prima Compliance in 2012, AGPM is reaffirming its commitment to Prima Solutions with the acquisition of a new tool, Prima XL, with the aim of standardizing its insurance/reinsurance tools and improving its performance in reinsurance calculations.  We chose Prima XL because we were impressed by the reliability of their cloud platform and the range of functionality offered,” says Philippe Auffray, Chief Financial Officer of AGPM.

Spotlight

If you want some insights into where the content marketing industry may be headed, it might just help to take a look at where it’s been. As we pointed out when CMI shared its History of Content Marketing infographic in 2012, brands have been telling their stories to audiences for hundreds of years. Not to mention that storytelling itself is one of the oldest forms of communication. Benjamin Franklin first publishes the yearly Poor Richard’s Almanack. The goal is to promote his printing business.

Spotlight

If you want some insights into where the content marketing industry may be headed, it might just help to take a look at where it’s been. As we pointed out when CMI shared its History of Content Marketing infographic in 2012, brands have been telling their stories to audiences for hundreds of years. Not to mention that storytelling itself is one of the oldest forms of communication. Benjamin Franklin first publishes the yearly Poor Richard’s Almanack. The goal is to promote his printing business.

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CORE INSURANCE

PCF Insurance Services Acquires Ohio-based Wilber-Price Insurance Group

PCF Insurance Services | September 01, 2022

PCF Insurance Services (PCF), one of the top 20 U.S. insurance brokerage firms, has acquired Wilber-Price Insurance Group, a full-service independent insurance agency offering commercial and personal lines solutions, as well as specialty products, for home, auto, crop, life, business, and more in the southern Ohio region. "Wilber-Price gives PCF Insurance strong leadership in an underrepresented geography, They have proven their ability to grow and now have the opportunity to collaborate with our expanding partner network to further accelerate their success." -Peter C. Foy, Chairman, Founder, and CEO of PCF Insurance In support of its long-term, sustainable growth strategy, PCF Insurance is intentional in supporting Agency Partners growth through investments in resources, technology, and best-in-class talent who are looking to grow beyond their current capacity. PCF Insurance's agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering Agency Partners alignment through equity ownership, significant leadership incentives, and resources throughout the United States. We chose PCF Insurance because they provided the optimal situation for our people, clients, and the future of our business, When a team has an equity stake in the performance of the business, attitude and overall performance will improve. And the career opportunities for our employees is something I would not have been able to achieve on my own,said John Wilber, Principal of Wilber-Price Insurance Group. The terms of the deal were not disclosed. To date in 2022, PCF Insurance has completed or has under the letter of intent 104 acquisitions, continuing its industry-leading M&A pace. PCF Insurance's well-diversified revenue stream continues to enable its strategic investments in technology and infrastructure buildouts to support its significant network expansion. About Wilber-Price Insurance Group Committed to providing a tailored experience uniting clients' needs and goals, Wilber-Price Insurance Group is a full-service independent insurance agency specializing in auto, home, crop and agriculture life, business, and specialty insurance from its offices in Chillicothe, Cincinnati, and Loveland, Ohio. About PCF Insurance Services A top 20 U.S. broker headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers' compensation solutions. Propelled by its people, PCF Insurance's agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partners alignment through equity ownership, significant leadership incentives, and resources to over 3,100 employees throughout the U.S. Recognized as a top acquirer by The Hales Report, ranked #20 on Business Insurance's 2022 Top 100 Brokers and #13 on Insurance Journal's 2022 Top Property/Casualty Agencies, PCF Insurance is a notable leader in the insurance space.

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INSURANCE TECHNOLOGY

BriteCore Platform Launch Expands Core Capabilities for P&C insurers

BriteCore | September 19, 2022

BriteCore, a next-generation provider of cloud-native core administration solutions for property and casualty (P&C) insurers, today announced the launch of the BriteCore Platform, a comprehensive suite for managing policies, billing, and claims complete with advanced analytics, a ratings engine, and agent and policyholder portals. As the insurance industry trends toward greater levels of customer-centricity, BriteCore is redefining the traditional boundaries and capabilities of policy administration systems (PAS) with the BriteCore Platform by enabling small to mid-size insurers and managing general agents (MGAs) to gain a competitive edge against larger companies. In fact, recent BriteCore research into current technology and industry trends in North America found 94 percent of survey respondents rely on core systems to support business growth initiatives, improve efficiency and productivity, and modernize operations. Further, the BriteCore P&C Core Systems Survey confirmed industry leaders see modern, cloud-native core systems as a solution to the challenges driving a continuous need for enhanced business operations and customer experiences. “When we decided to move away from the legacy system which had been running our business for years, we chose the BriteCore Platform since it enabled us to establish new business processes that deliver exceptional agent and policyholder experiences, all while providing options to better manage cost and grow our business, In addition, the BriteCore Platform decreased our dependency on on-prem solutions and future-proofed our IT environment by allowing us to easily integrate with existing and emerging technologies going forward.” -Nancy Newmister, President and CEO for Frederick Mutual Insurance Company In addition to the BriteCore Platform’s comprehensive digital core functionality, new and enhanced features available immediately include: E-Signature – Through a new partnership with DocuSign, the BriteCore Platform provides agents and policyholders with the option of signing documents electronically during the quoting and underwriting process. E-signature delivers faster time to revenue, greater ROI and cost savings, and reduced risk through improved compliance. Advanced Analytics & Reporting – BriteCore extended the core platform to deliver persona-based executive dashboards, advanced analytics and reporting. Now agents, executives, and line-of-business leaders (underwriting, claims, billing) can easily create custom and standard reports, identify new business opportunities for growth or cost savings, and translate their data into actionable insight. UI Enhancements – BriteCore performed a major update to the platform user interface to ensure the experience for agents, policyholders, and insurance carrier staff benefits from a simple, modern design that is easy to learn and use while delivering a consistent look-and-feel. Enhanced Comprehensive IT Environment – Backed by AWS for reliability, scalability, and enterprise-grade security, the BriteCore Platform is relied upon to provide a comprehensive IT environment for completion of mission-critical insurance processes. BriteCore added to the range of Amazon Web Services (AWS) services and technologies used to support the BriteCore platform in such areas as delivering fast and responsive query performance through a robust in-memory engine. The BriteCore Platform redefines and expands the capabilities P&C insurers industry-wide, and our ever-growing number of insurer customers, can expect from a core system, Historically, core systems focused on automating internal processes and workflows. The BriteCore Platform automates internal AND external processes, provide superior underwriting and claims processing experiences for agents and policyholders, and integrates a wide range of external services and data sources to improve the competitiveness of insurers. Today and into the future, the BriteCore Platform can be relied upon to provide a comprehensive IT environment for completion of mission-critical insurance processes,said Ray Villeneuve, CEO for BriteCore. About BriteCore BriteCore is a cloud-native platform for P&C insurers that unlocks business growth, enhances the customer experience, and delivers great efficiency gains. BriteCore provides end-to-end support for insurance operations that includes policy administration, an agent and policyholder portal, rapid product configuration, underwriting rules and rating, billing management, claims management, document management, and reporting. As a cloud-native solution, BriteCore is continually updated for maximum security, efficiency, and durability at scale.

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LIFE INSURANCE

OneAmerica® Launches Variable Universal Life Insurance

OneAmerica | September 21, 2022

The companies of OneAmerica announce the expansion of their product portfolio to offer OneAmerica® Variable Universal Life (VUL) insurance. Distributed through the Individual Life and Financial Services (ILFS) line of business, this new product provides customers with a strong vehicle for protection, while also offering them the opportunity to invest in the financial markets. VUL customers have the flexibility to use the policy for life insurance protection, cash value accumulation or other financial needs. "We're excited to bring our unique VUL product to today's marketplace, The product's guarantees and transparency make it an attractive, new option for people to help protect their loved ones and create an opportunity for potential financial growth." -Dennis Martin, president of ILFS The OneAmerica VUL life insurance policy includes a guaranteed death benefit provision and fully guaranteed policy charges, which are first-of-its-kind in the VUL space. These guarantees offer customers confidence that their policy charge structure won't change in the future. They also add an additional layer of protection against policy lapse and loss of the death benefit. In addition, the OneAmerica VUL offers two investment-related differentiators to the marketplace. The product offers a low-cost, transparent fund lineup of well-known industry asset managers, and it includes two defined outcome funds — again, a first in the industry for a VUL product. The investment lineup offers customers more than 50 diverse investment options, customizable to their portfolios and goals. These innovations reflect the client-centered approach that OneAmerica brings to the marketplace. VUL will give our distribution channels a strong product to match the needs of new and existing customers, Ultimately, our VUL is a robust product built on our strong foundation and commitment to deliver on our promises when customers need us most,said Mark Scalercio, senior vice president and head of distribution for ILFS. The new product also includes extra protection and added benefits through optional riders. OneAmerica VUL is currently available through the OneAmerica career agency distribution channel in all states except California, Florida, New York, North Dakota and South Dakota. About OneAmerica A national provider of insurance and financial services for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers.

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