Home > News > featured news > AIG to transition upper-middle-market clients to other insurers

AIG to transition upper-middle-market clients to other insurers

American International Group | June 30, 2020

American International Group has announced that it has entered into an agreement with Safeco Insurance, a Liberty Mutual company, and Heritage Insurance Holdings to offer AIG Private Client Group’s (PCG) agents the ability to transition their upper-middle-market personal insurance business to Safeco and Heritage. The transition will take place beginning in the fourth quarter, subject to regulatory requirements.
AIG said it would transition “a select portion” of its personal insurance business that provides upper-middle-market clients with home, auto and umbrella coverage to Safeco and Heritage. The agreement is part of AIG PCG’s strategy to focus on the high-net-worth segment.

Spotlight

DMS For Insurance Industry

One of the most paper intensive industries is insurance industry. There are endless forms to fill, copies of proofs to be preserved, and claims to deal with on regular basis. Under the circumstances, using simple word processors, insecure repository and emails or not adopting a streamlined process of document management can have serious negative consequences.

More featured news

Spotlight

DMS For Insurance Industry

One of the most paper intensive industries is insurance industry. There are endless forms to fill, copies of proofs to be preserved, and claims to deal with on regular basis. Under the circumstances, using simple word processors, insecure repository and emails or not adopting a streamlined process of document management can have serious negative consequences.

Related News

CORE INSURANCE, INSURANCE TECHNOLOGY

Morris Insurance Group Joins World Insurance Associates

Globenewswire | May 17, 2023

World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Morris Insurance Group, Inc. (“Morris Insurance”) of Clinton Township and Rochester, MI on April 1, 2023. Terms of the transaction were not disclosed. Morris was founded over 60 years ago, and is a full-service agency providing personal insurance, commercial insurance and health and life insurance. “At Morris Insurance Group, we dedicate ourselves to answering our clients’ questions and providing solutions for their specific needs,’ says Bruce Morris, Owner, Morris Insurance Group. “Our reputation is built on integrity, expertise, and exceptional customer service and we are thrilled to be joining World, a company that exemplifies these same principles.” “I’d like to welcome Morris Insurance to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They are a knowledgeable group of insurance professionals, and I know they will be successful as part of World.” Giordano, Halleran & Ciesla provided legal counsel and TAG Consulting advised World on the transaction. MacElree Harvey provided legal counsel and Sica Fletcher advised Morris Insurance on the transaction. No other advisors, diligence firms or legal counsel were disclosed. About World Insurance Associates LLC World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed over 190 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and ranked #20 on the Top 50 Personal Lines Agencies by Insurance Journal.

Read More

CORE INSURANCE, RISK MANAGEMENT

Falvey Insurance Group Partners with Canopius U.S. on Inland Marine

PRnewswire | April 06, 2023

Falvey has partnered with Canopius U.S. and is now accepting inland marine submissions following the recent appointment of the dedicated team at Falvey Insurance Group. "Since onboarding the team about 30 days ago, we have implemented a fully functional and customized underwriting system, which includes invoicing and claims filing, and have secured paper with Canopius U.S.," says Jack Falvey, Chief Operating Officer at Falvey. "Our team worked tirelessly to make this launch quick-to-market as we wanted to make the inland marine product available to our broker partners as soon as possible." Mike McKenna, Chief Underwriting Officer at Falvey, adds, "This partnership with Canopius will allow Falvey to expand into new lines of business and offer complementary products to our clients. We look forward to working together to provide top-tier service to our clients." Inland Marine products offer broad terms and conditions that cover many risk types emanating from a wide range of commercial business applications that may not be covered in the standard property market. The many insurance needs considered in the Inland Marine market include the following: property moving over land, property that is stored at a third-party location, builders' risk, care, custody and control of others property in warehouses, infrastructure and/or individual high valued properties. These are just a few examples of the many Inland Marine insurance coverage needs that Falvey Insurance Group will consider. About Falvey Insurance Group At Falvey Insurance Group, our value starts with the strength of our products, but we believe that your premium should provide more than just great coverage. With Falvey Insurance Group, you receive a breadth of additional value-added services at no additional cost. We have spent decades developing a reputation in the industry for commitment to going the extra mile for our clients and broker partners, providing solutions that put your needs first and exceed expectations. If you have a broker agreement with Falvey, you have access to all Group products and a universal claim handling and loss control experience. Plus, you can expect World-Class service from any one of our underwriting teams.

Read More

WORKERS COMPENSATION, RISK MANAGEMENT

Fleming Selects Origami Risk's Multi-tenant Core Solution Platform

Origami Risk | March 09, 2023

Fleming Insurance Holdings informed on March 8, 2023, that it has chosen the multi-tenant core solution platform from Origami Risk to improve its data and analytics capabilities for liabilities, including workers' compensation, auto liability, and general liability lines. Fleming Insurance Holdings is a provider of property and casualty capital solutions. Origami's platform is set to give it several tools and capabilities for data collection, reporting, and advanced analytics that the company can use to speed up and improve its underwriting and claims management processes. Benjamin Bomhoff, CTO of Fleming, stated, "As our insurance carrier partners look to us for innovative reinsurance and capital solutions, we are committed to leveraging state-of-the-art technology to facilitate timely and accurate decision-making." He added, "Origami's end-to-end solution should be a real difference-maker for our enterprise, enabling us to operate with expanded data/analytics capabilities, greater speed and efficiency." (Source – Business Wire) Chris Bennett, President of Core Solutions division at Origami Risk, remarked, "By implementing Origami's risk management information system, Fleming will be able to drive efficiency in its underwriting and claims operations, and deliver added value to its carrier partners." "These capabilities are among several innovative solution sets we've developed to help carriers and other insurance providers drive efficiencies across critical functions, meet customer needs and improve overall performance," he concluded. (Source – Business Wire) Origami Risk offers all internal and external stakeholders a complete digital engagement experience and integrated SaaS solutions for policy, rating, billing, loss control, claims administration, reporting, and analytics. About Origami Risk Origami Risk offers comprehensive SaaS solutions that make insurance, risk, and safety easier for insurers, including managing general agents, program administrators, third-party claims administrators, risk pools, brokers, and others. The company's core insurance system, risk management, and safety solutions are all delivered through a secure, multi-tenant platform that can be accessed through a web browser or a mobile app.

Read More

CORE INSURANCE, INSURANCE TECHNOLOGY

Morris Insurance Group Joins World Insurance Associates

Globenewswire | May 17, 2023

World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Morris Insurance Group, Inc. (“Morris Insurance”) of Clinton Township and Rochester, MI on April 1, 2023. Terms of the transaction were not disclosed. Morris was founded over 60 years ago, and is a full-service agency providing personal insurance, commercial insurance and health and life insurance. “At Morris Insurance Group, we dedicate ourselves to answering our clients’ questions and providing solutions for their specific needs,’ says Bruce Morris, Owner, Morris Insurance Group. “Our reputation is built on integrity, expertise, and exceptional customer service and we are thrilled to be joining World, a company that exemplifies these same principles.” “I’d like to welcome Morris Insurance to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They are a knowledgeable group of insurance professionals, and I know they will be successful as part of World.” Giordano, Halleran & Ciesla provided legal counsel and TAG Consulting advised World on the transaction. MacElree Harvey provided legal counsel and Sica Fletcher advised Morris Insurance on the transaction. No other advisors, diligence firms or legal counsel were disclosed. About World Insurance Associates LLC World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed over 190 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and ranked #20 on the Top 50 Personal Lines Agencies by Insurance Journal.

Read More

CORE INSURANCE, RISK MANAGEMENT

Falvey Insurance Group Partners with Canopius U.S. on Inland Marine

PRnewswire | April 06, 2023

Falvey has partnered with Canopius U.S. and is now accepting inland marine submissions following the recent appointment of the dedicated team at Falvey Insurance Group. "Since onboarding the team about 30 days ago, we have implemented a fully functional and customized underwriting system, which includes invoicing and claims filing, and have secured paper with Canopius U.S.," says Jack Falvey, Chief Operating Officer at Falvey. "Our team worked tirelessly to make this launch quick-to-market as we wanted to make the inland marine product available to our broker partners as soon as possible." Mike McKenna, Chief Underwriting Officer at Falvey, adds, "This partnership with Canopius will allow Falvey to expand into new lines of business and offer complementary products to our clients. We look forward to working together to provide top-tier service to our clients." Inland Marine products offer broad terms and conditions that cover many risk types emanating from a wide range of commercial business applications that may not be covered in the standard property market. The many insurance needs considered in the Inland Marine market include the following: property moving over land, property that is stored at a third-party location, builders' risk, care, custody and control of others property in warehouses, infrastructure and/or individual high valued properties. These are just a few examples of the many Inland Marine insurance coverage needs that Falvey Insurance Group will consider. About Falvey Insurance Group At Falvey Insurance Group, our value starts with the strength of our products, but we believe that your premium should provide more than just great coverage. With Falvey Insurance Group, you receive a breadth of additional value-added services at no additional cost. We have spent decades developing a reputation in the industry for commitment to going the extra mile for our clients and broker partners, providing solutions that put your needs first and exceed expectations. If you have a broker agreement with Falvey, you have access to all Group products and a universal claim handling and loss control experience. Plus, you can expect World-Class service from any one of our underwriting teams.

Read More

WORKERS COMPENSATION, RISK MANAGEMENT

Fleming Selects Origami Risk's Multi-tenant Core Solution Platform

Origami Risk | March 09, 2023

Fleming Insurance Holdings informed on March 8, 2023, that it has chosen the multi-tenant core solution platform from Origami Risk to improve its data and analytics capabilities for liabilities, including workers' compensation, auto liability, and general liability lines. Fleming Insurance Holdings is a provider of property and casualty capital solutions. Origami's platform is set to give it several tools and capabilities for data collection, reporting, and advanced analytics that the company can use to speed up and improve its underwriting and claims management processes. Benjamin Bomhoff, CTO of Fleming, stated, "As our insurance carrier partners look to us for innovative reinsurance and capital solutions, we are committed to leveraging state-of-the-art technology to facilitate timely and accurate decision-making." He added, "Origami's end-to-end solution should be a real difference-maker for our enterprise, enabling us to operate with expanded data/analytics capabilities, greater speed and efficiency." (Source – Business Wire) Chris Bennett, President of Core Solutions division at Origami Risk, remarked, "By implementing Origami's risk management information system, Fleming will be able to drive efficiency in its underwriting and claims operations, and deliver added value to its carrier partners." "These capabilities are among several innovative solution sets we've developed to help carriers and other insurance providers drive efficiencies across critical functions, meet customer needs and improve overall performance," he concluded. (Source – Business Wire) Origami Risk offers all internal and external stakeholders a complete digital engagement experience and integrated SaaS solutions for policy, rating, billing, loss control, claims administration, reporting, and analytics. About Origami Risk Origami Risk offers comprehensive SaaS solutions that make insurance, risk, and safety easier for insurers, including managing general agents, program administrators, third-party claims administrators, risk pools, brokers, and others. The company's core insurance system, risk management, and safety solutions are all delivered through a secure, multi-tenant platform that can be accessed through a web browser or a mobile app.

Read More

More featured news