Allstate to payback $600 million to auto insurance customers amid coronavirus pandemic

Allstate | April 07, 2020

Allstate, one of the largest auto insurance companies in the United States, has today announced it will return more than $600 million to auto insurance customers amid the COVID-19 pandemic. Personal auto insurance customers of Allstate, Esurance and Encompass (two subsidiaries of Allstate) will be reimbursed approximately 15% of their monthly premium in April and May through a Shelter-in-Place Payback. They will get the money through a credit to their bank account, credit card or Allstate account. “Allstate has been helping customers overcome catastrophes for 89 years since our purpose is to make sure they are in Good Hands. We have learned to move quickly and put people first,” said Tom Wilson, chair, president and chief executive officer. “This crisis is pervasive. Given an unprecedented decline in driving, customers will receive a Shelter-in-Place Payback of more than $600 million over the next two months. This is fair because less driving means fewer accidents.”

Spotlight

Whether your car insurance prices have gone up, your policy is expiring soon, you have a new teen driver in the house or an old speeding ticket finally fell off your record, you may find yourself in a situation where shopping for car insurance quotes could help you save some money. The scenarios in the infographic below can help you determine if spending a little time reviewing auto quotes now might pay off.

Spotlight

Whether your car insurance prices have gone up, your policy is expiring soon, you have a new teen driver in the house or an old speeding ticket finally fell off your record, you may find yourself in a situation where shopping for car insurance quotes could help you save some money. The scenarios in the infographic below can help you determine if spending a little time reviewing auto quotes now might pay off.

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CORE INSURANCE

Quility Insurance Announces Partnership With NFL Alumni Association

Quility Insurance | August 23, 2022

Quility, an award-winning insurtech company, announced its partnership with the National Football League Alumni Association (NFLA), one of the oldest, most well-known, and well-respected retired player organization in professional sports. During this partnership, Quility will be the official life insurance provider of the NFLA. Through this partnership, Quility will support more than 17,000 former NFL players and members of the association with life insurance offerings and financial solutions. Quility will also offer a membership benefits savings program to association members and supporters of the NFL Alumni. MyQuility is a centralized digital membership platform with access to significant savings from more than 300K retailers and 1 million travel destinations. "We are fired up to partner with the NFL Alumni Association as their official life insurance provider, Quility's financial products are designed to provide the best-in-class experience for our clients, and we are thrilled for the opportunity to give the best to the members of this elite organization." -Quility Co-Founder Brandon Ellison During Quility's national conference in August 2022, NFL Alumni Dan Marino and Terrell Davis joined Quility founders Brandon Ellison and Casey Watkins onstage to announce the partnership. Partnering with Quility provides us with a unique opportunity to offer essential life insurance solutions to our members, We are so excited to not only provide these benefits to our NFL alumni, but also to help more families secure essential financial protection through life insurance,said Najee Goode, Director of Digital Technology and Strategic Marketing for the NFL Alumni Association. As the official life insurance provider for the NFLA, Quility will be featured as a partner of the NFL Alumni in a number of television and radio commercials throughout the regular and post season. The partnership will launch this fall with various events and activations through 2025. About Quility Quility uses innovative and proprietary technology to modernize the process of qualifying for and purchasing life insurance. The Quility digital platform offers clients the option to apply for life insurance online through a 10-minute application or with the support of a licensed insurance agent. About the NFL Alumni Association Founded in 1967, the NFL Alumni Association was formed to serve its retired player members and their families. The association's primary purpose is to engage former players through a fraternal structure supporting their ability to live better in retirement. Part of that mission is to build career opportunities, social engagements and social responsibility. Historically, the Chapter leaders' philanthropic and charitable efforts allow the association to donate an average of 1.5 million dollars to children's charities within the local chapter areas.

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CORE INSURANCE

PCF Insurance Services' Earns Recognition as Industry Leader

PCF Insurance Services | September 22, 2022

PCF Insurance Services (PCF), a leading national insurance brokerage, was recently named a top 20 insurance broker on Business Insurance's "2022 Top 100 Brokers of U.S. Business" list. The list, which ranks companies by their 2021 brokerage revenue generated by U.S.-based clients, identifies the highest-grossing companies in the insurance industry. The company also placed within the top 15 on Insurance Journal's "2022 Top 100 Property/Casualty Agencies" list, which ranks companies by total property and casualty (P&C) agency revenue. With 2021 revenue of $590 million, PCF Insurance increased its Business Insurance ranking from No. 27 last year to No. 20 in 2022, representing the largest year-over-year jump among top 20 companies. The company's year-over-year revenue increase of more than 150% was also the largest percentage increase of any company in the top 20. PCF Insurance's 167% P&C revenue increase from $176 million in 2021 to $470 million in 2022 provided the momentum for the company to boost its standing in the Insurance Journal ranking from No. 20 last year to No. 13 in 2022. Over a three-year period, PCF Insurance has seen a 3,830% growth in revenue. "In just under four years, PCF has scaled from an agency with more than $10 million in revenue to a leading national insurance brokerage with annual revenue exceeding $640 million, This recognition is a testament to our pursuit thoughtful, value-accretive expansion and our partners' commitment to delivering best-in-class services to clients." -Peter C. Foy, Chairman, Founder and CEO of PCF Insurance The rapid ascension among the industry's leading brokerage firms is a testament to PCF Insurance's collaborative partnership model and culture. PCF Insurance has an intentional approach to attracting and bringing on entrepreneurial-minded, growth-focused agency owners who perform at a high level, deliver year-over-year increases in organic growth, and retain clients. PCF Insurance has earned a reputation as being a preferred partner for entrepreneurs because even though our partners are independent, everyone has a stake in the success of our organization, Our Agency Partners are the fuel to our success. They collaborate, share knowledge, and as a result, propel our growth strategy. Because when one of us grows, we all grow.,said Peter C. Foy. In addition to the expansion of its technology and infrastructure investments, PCF Insurance completed six acquisitions in 2019, 36 in 2000, 89 in 2021, and is on pace to complete more than 100 acquisitions this year. Of these acquisitions, XX% of these deals were a direct result of referrals from within the PCF partner network. To continue to add value and diversification to its network of offerings, PCF recently announced acquisitions of California-based Andreini & Company, Utah-based MGA United Underwriters, and specialty MGA Professional Warranty Service Corporation (PWSC). According to analysis by Chicago-based Optis Partners LLC. Through the company's collaborative structure, PCF Insurance currently serves more than 465,000 clients through its network of nearly 165 Agency Partners* across 37 states. 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. PCF Insurance is a notable leader in the insurance space, ranked #20 on Business Insurance's 2022 Top 100 Brokers and #13 on Insurance Journal's 2022 Top Property/Casualty Agencies.

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HEALTH INSURANCE

Alegeus and HealthSherpa Experience Significant Momentum for ICHRA

Alegeus, HealthSherpa | July 19, 2022

Alegeus, the market leader in healthcare payment solutions, and HealthSherpa, the leading enrollment platform for individual ACA health coverage, have outpaced the industry in individual coverage health reimbursement arrangements (ICHRA) since announcing an integration partnership in the summer of 2020. With updates to their partnership in 2022, both companies are poised to increase their ICHRA enrollments even faster. HealthSherpa, which has seen more than 10X growth in ICHRA pipeline, has enrolled more than three million individuals on its platform in just the last year. ICHRAs, which were launched at the start of 2020, allow employers to reimburse employees for individual coverage insurance premiums in place of offering them a traditional group-sponsored health plan. ICHRAs can also be used by employees to pay for out-of-pocket healthcare expenses. 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With our new off-exchange options, employers and brokers alike have more options for employees looking to make the transition away from group-sponsored health insurance,” said George Kalogeropolous, CEO, HealthSherpa. “Millions of consumers have enrolled in health insurance through HealthSherpa and experienced the increasing appeal of individual coverage. With our new off-exchange options, employers and brokers alike have more options for employees looking to make the transition away from group-sponsored health insurance,” said George Kalogeropolous, CEO, HealthSherpa. “ICHRA is changing the dynamic of the relationship between employers and employees on the critical question of health insurance, and we’re thrilled to partner with Alegeus to help employers understand the benefits and communicate them with their employees.” Alegeus and HealthSherpa recently presented a webinar, “The (Present and) Future of ICHRAs,” showcasing how to simplify the administration of ICHRA benefits and make it easier for consumers to find the care and coverage that meets their needs. To learn more about ICHRAs and view the webinar presentation, please click here or visit https://www.alegeus.com/webinars/. About HealthSherpa HealthSherpa builds technology that increases access to health care. 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