Harford Mutual Insurance Group, One Inc. | July 26, 2022
One Inc, the leading digital payments network for the insurance industry, announced today that property and casualty carrier, Harford Mutual Insurance Group (Harford Mutual), has selected One Inc’s ClaimsPay® to help process claims payments and synchronize the company’s workflow. The success of ClaimsPay marks the growing number of clients utilizing One Inc for payment digitization.
Headquartered in Bel Air, Maryland, Harford Mutual is represented by nearly 450 independent insurance agencies and is licensed in nine states and the District of Columbia. Harford Mutual’s selection of One Inc’s ClaimsPay is its latest step forward in assuring that its policyholders are taken care of in the critical moments when a claim is initiated, adjusted, and completed.
As part of their campaign to digitize its customer experience and more efficiently manage its property and casualty policies, Harford Mutual will integrate One Inc’s ClaimsPay technology with their claims administration software provider, Origami Risk. With ClaimsPay, Harford Mutual’s policyholders will have seamless and efficient access to multiple payment options, and underwriters will have a powerful tool to aid in customer retention while reducing expenses and bolstering data security and compliance.
“Integrating One Inc’s ClaimsPay with Origami was a natural choice as we sought to innovate this vital area of our business,” said Wayne Gearhart, Vice President of Claims at Harford Mutual. “We are very happy with the selection and the benefits both platforms can provide to our team and, more importantly, our customers. Along with security, speed, and ease of the process, these technology solutions are of paramount importance to us as we upgrade our customer and employee experiences.”
“Instant payments deliver a compelling customer value proposition and a competitive advantage to businesses,” said Ian Drysdale, CEO at One Inc.
“Instant payments deliver a compelling customer value proposition and a competitive advantage to businesses,” said Ian Drysdale, CEO at One Inc. “As Harford Mutual adopts new ways to be more efficient, many insurers are eyeing their claims technology to provide digital infrastructure that can help them rapidly adapt to the ever-changing needs of customers and stay ahead of the competition. We are proud that carriers like Harford Mutual are choosing One Inc for claims payment transformation and additionally pleased to run these integrations with partners like Origami.”
About One Inc
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payment, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments. For more information, please visit www.oneinc.com.
About Harford Mutual Insurance Group
Harford Mutual Insurance Group (HMIG), founded in 1842 in Harford County, Maryland, provides property and casualty insurance products and services to a regional market. Headquartered in Bel Air, Maryland, the company is represented by nearly 450 independent insurance agencies who in turn, are supported by expert in-house staff of underwriters, claims professionals, and insurance specialists. Licensed in Delaware, Georgia, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and Washington D.C., HMIG wrote $290 million in direct written premium in 2021. For more information, please visit https://www.harfordmutual.com/.
Tokio Marine and Arbor Ventures | August 12, 2022
Tokio Marine Asia Pte. Ltd. today announced a strategic partnership with Arbor Ventures, a leading global Fintech / InsurTech-focused venture capital firm, headquartered in Singapore. This partnership, established through its Innovation Lab in Singapore, marks Tokio Marine's commitment to accelerating the digital transformation of the global insurance industry.
The Tokyo-headquartered insurance group has been promoting transformational digital initiatives on a global basis, leveraging on collaborations with startups and service providers with key strategic capabilities.
To accelerate the identification and development of new business models, Tokio Marine Holdings, Inc. (Tokio Marine Holdings) has announced earlier in April 2022 on the launch of its corporate venture capital (CVC) fund partnering with World Innovation Lab, Tokio Marine Future Fund, to invest in early-stage startups.
Tokio Marine will identify and invest directly in high-growth potential startups through the CVC Fund in addition to partnering with Arbor and other leading VCs for unique insights and access to promising startups leading the digital transformation in Insurance. Arbor's addition to Tokio Marine's group of collaborative VCs significantly heightens its future opportunities.
Arbor is a global FinTech/InsurTech-focused VC with offices in Singapore, USA, Japan as well as a presence in EMENA. Arbor's global connectivity and portfolio as well as its engagement in local markets will further enable Tokio Marine group's innovation labs, spread across seven cities, including Singapore, to collaborate broadly with synergy beyond borders.
"Arbor's target to create the future of FinTech resonates with Tokio Marine's digital strategy. With Arbor's network and astute scouting of startups with strong potential in the FinTech space, it will greatly complement Tokio Marine's collaborative efforts to serve innovative products and services in insurance industry and beyond."
-Masashi Namatame, Group Chief Digital Officer at Tokio Marine Holdings
Melissa Guzy, Managing Partner of Arbor Ventures, similarly commented: Tokio Marine is a world-renowned leader that Arbor is proud to add as a strategic partner in building the future of FinTech / InsurTech. Arbor looks forward to building the next generation of transformational InsurTech startups together.
About Tokio Marine Group
Tokio Marine was established in the year 1879 as the first insurance company in Japan and has grown over the decades, now offering an extensive selection of General and Life insurance products and solutions in 46 countries and regions worldwide.
About Arbor Ventures
Founded in 2013, Arbor Ventures is a global investment firm focused on companies that leverage advanced technologies such as artificial intelligence, cloud computing, composable service offerings and blockchain applications to facilitate, broaden or fundamentally change the way financial services are served, consumed, and managed. Arbor uses its global vantage point, extensive network and deep sector knowledge to identify key trends and partner closely with leading entrepreneurs to build transformational companies. Notable investments include Paidy, True Accord, Forter, Nomi Health, Tabby, Fundbox and HiBob.
Integrity Marketing Group and Richman Insurance Agency | August 10, 2022
Integrity Marketing Group, LLC, a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has acquired Richman Insurance Agency, an insurance marketing organization ("IMO") based in Dallas, Texas. As part of the acquisition, Rob Richman, President of Richman Insurance Agency, will become a Managing Partner in Integrity. Financial terms of the acquisition were not disclosed.
Richman Insurance Agency has quickly become an influential leader in the markets it serves. With more than a decade of experience in the insurance industry, Rob Richman understands how to provide fundamental agent training so his team can best meet client needs. He guides the company's fast-growing network of agents to success through a proven system of in-depth coaching and support. Richman Insurance Agency provides $15 million in mortgage protection, life insurance and final expense products to a wide range of consumers, serving more than 20,000 Americans annually.
"A great business needs great leaders, and Rob has proven he has the attitude and passion to make an impact on this industry, His hard work and dedication have built his agency into the success it is today, and his well-trained team is now ready for the next step forward. Adding Integrity's resources and technology will accelerate Richman Insurance Agency's growth path, allowing them to reach more people while enhancing our efforts to serve the life, health and wealth needs of all Americans. We're proud to welcome Rob and his team to Integrity — I'm confident their biggest successes are ahead of them."
-shared Bryan W. Adams, Co-Founder and CEO of Integrity
At Richman Insurance Agency, we specialize in helping agents maximize their potential, Adding Integrity's world-class support and services to our team's commitment and work ethic creates the perfect combination to supercharge our business. Integrity is pioneering the future of life, health and wealth protection, and we want to be part of it. When we see the group of industry leaders Integrity has assembled, we can't help but be thrilled to join their ranks. We know we're just getting started with what we can achieve,explained Richman, President.
Integrity helps Americans prepare for the good days ahead by partnering with industry leaders and icons who come together as peers to optimize insurance processes and financial services. Unified by their common goal of improving insurance and financial services experiences for everyone, members of Integrity's partner network learn from each other and collaborate to design strategies that better protect the life, health and wealth of consumers.
Rob has always done his utmost to help his team fulfill their goals — it's what makes him the type of leader we're thrilled to partner with, Richman Insurance Agency is ready to take a big leap forward and grow faster and serve more people than ever before. Partnering with the best minds in the business and gaining access to Integrity's cutting-edge technology and resources will springboard their future success. Richman Insurance Agency will be a great addition to the Integrity family. We're grateful they've chosen to be part of our mission to help more Americans plan for the good days ahead,explained Shawn Meaike, President of Family First Life and Managing Partner at Integrity.
To take full advantage of Integrity's partner benefits and agent resources, Richman Insurance Agency will utilize Integrity's vast infrastructure of business services. Partners can streamline administrative functions through centralized areas, such as People & Culture, Technology & Innovation, finance, legal and compliance, and world-class advertising and marketing. In addition, Integrity offers partners access to proprietary technology through its omnichannel insurtech platform. These comprehensive insurance and financial services offerings include valuable agent resources, such as product development, quoting and enrollment systems and customer relationship management software.
All these benefits are further accentuated by Integrity's Employee Ownership Plan, which offers employees the exciting opportunity for meaningful company ownership.
About Integrity Marketing Group
Integrity, headquartered in Dallas, Texas, is a leading distributor of life and health insurance, and provider of innovative solutions for wealth management and retirement planning. Through its partner network, Integrity helps millions of Americans protect their life, health and wealth with a commitment to meet them wherever they are — in person, over the phone and online. Integrity's cutting-edge technology helps streamline the insurance and financial planning experience for all stakeholders. In addition, Integrity develops products with carrier partners and markets them through its nationwide distribution network. Integrity's nearly 6,000 employees work with approximately 500,000 agents and advisors who serve more than 11 million clients annually. In 2022, Integrity will help carriers place almost $20 billion in new sales and oversee more than $30 billion of assets under management and advisement through its RIA and broker-dealer platforms.
About Richman Insurance Agency
Richman Insurance Agency, founded in 2019, is based in Dallas, Texas and is a leader in the life insurance industry. The agency specializes in mortgage protection, final expense, and retirement planning. To provide the best products and services, Richman Insurance Agency partners with industry leading carriers, and develops agents and leaders to provide quality service in the senior market. In 2021, Richman Insurance Agency served over 20,000 Americans and provided over $15 million in annual paid premium.