INSURANCE TECHNOLOGY
Hub International | November 10, 2021
Hub International Limited (HUB), a leading global insurance brokerage and financial services firm announced today the launch of its HUB Drive Safe App, a fleet risk management solution that provides driver coaching at scale, automatically detects collisions and helps fleets reduce their insurance costs through safer driving behavior on iOS and Android mobile devices.
"The HUB Drive Safe App is our newest fleet risk management solution to help clients across various industries, including transportation , agribusiness , construction and hospitality , to keep their drivers safe, manage driver behavior and reduce collisions and loss. Technology continues to revolutionize the world we live in, and we have been focused on using digital technology to streamline our clients' experience and helping them better manage their costs for doing business."
- Lisa Paul, Chief Strategy Officer of HUB's Transportation Specialty.
According to a study 1 , the bottom quartile of commercial line drivers account for more than 50% of collisions. With the use of technology that relies on artificial intelligence and machine learning algorithms and leverages massive datasets of driving behavior data, a driver's behavior can improve and reduce collision risk by up to 49%.
The HUB Drive Safe App offers immediate feedback and coaching after every trip to ensure that commercial drivers avoid collisions and remain safe on the roads. The mobile app also allows fleet managers to get a detailed overview of the safety and efficiency of their drivers - all via one comprehensive dashboard. The HUB Drive Safe App is powered by a global dataset and first-of-its-kind mobility risk intelligence (MRI) platform to ensure the most precise collision detection and first notice of loss capabilities on the market.
Additional safety features on the HUB Drive Safe App include:
View and customize a driver profile to improve driving behavior with tips based on performance tracked in the app
Gain high-level insights on the fleet's performance with a fleet score
Automatically detect collisions, alert the fleet manager and notify an emergency contact or trigger insurance claims process
Encourage consistent improvements in driving behavior with positive reinforcements and/or rewards
With the HUB Drive Safe App, HUB continues its commitment to providing tailored insurance solutions designed to best manage its clients' risks and needs.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.
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LIFE INSURANCE
Resolution Life | January 05, 2021
Resolution Life Group Holdings LP, a global manager of in-force life insurance businesses, is charmed to declare today that it has finished the acquisition of Voya Financial, Inc.'s, individual life in-force business.
The fulfillment sees Voya offer to Resolution Life significantly the entirety of its in-force individual life business, including Security Life of Denver Insurance Company, Midwestern United Life Insurance Company and certain different subsidiaries, just as the reinsurance of Voya's remaining in-force individual life and annuity blocks.
Voya moved roughly 350 employees, along with the resources and frameworks used to deal with the business. On finish more than $25 billion of resources were added to the Resolution Life accounting report and it accepts accountability for the administration of the obtained business.
Following a transition period, which is relied upon to require as long as two years, Resolution Life will supplant Voya's corporate frameworks with its own frameworks. Resolution Life's more current platforms will give improved customer administration at lower cost.
Resolution Life has raised over US$3 billion of capital since 2018. Notwithstanding the acquisition of Voya's individual life in-force business, acquisitions to date include the A$3 billion acquisition of AMP Life in Australia and the fulfillment of a reinsurance transaction with Symetra Life Insurance Company with US$5.7 billion of stores.
The transaction gives Resolution Life a strong platform to benefit from future development openings in the US market, expands the Group risk profile against the Resolution Australasia and Resolution Re liabilities, and quickens its development story.
Sir Clive Cowdery, Resolution Founder and Executive Chairman of Resolution Life, said:
“We are delighted to welcome our new customers and colleagues to Resolution Life. By acquiring or reinsuring businesses from partners such as Voya, Symetra and AMP, we provide a well-capitalised and stable environment to deliver on long-term customer promises.
There is great opportunity for growth in the United States and completion of this transaction gives us an excellent platform to build from.”
About Resolution Life
Resolution Life is a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies. Since 2003, prior Resolution entities together with Resolution Life have deployed US$16 billion of equity in the acquisition, reinsurance, consolidation and management of 30 life insurance companies. Together, these companies have served the needs of 12.6 million policyholders while managing over US$354 billion of assets. Resolution Life has operations in Bermuda, the U.K., the United States, Australia and New Zealand.
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Vertafore | May 29, 2020
Vertafore announced the expansion of its open agency management system architecture with the addition of five new members to the Vertafore Orange Partner Program.
API-backed open platform to give AMS users the ability to choose and get the most from the solutions and services that meet their needs.
Vertafore unveiled AMS360 Connect to sync and streamline the flow of customer, prospect and policy information between AMS360 and the industry's leading CRM systems in real-time.
Today Vertafore announced the expansion of its open agency management system architecture with the addition of five new members to the Vertafore Orange Partner Program and the release of AMS360 Connect™.
The new integrations of leading business solutions with Vertafore products were made possible through the company's unique, API-backed open platform to give AMS users the ability to choose and get the most from the solutions and services that meet their needs.
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Introducing AMS360 Connect
Vertafore unveiled AMS360 Connect to sync and streamline the flow of customer, prospect and policy information between AMS360 and the industry's leading customer relationship management (CRM) systems in real-time. Through CRM integration, AMS360 Connect:
Helps producers provide timely advice, leading to improved retention, cross-sell and proactive outreach to customers.
Enables faster new business quoting by automatically passing prospect data from the CRM to start a submission in AMS360.
Improves data accuracy and completeness by eliminating duplicate data entries, which reduces E&O exposure and supports better reporting and analytics.
Enhances the agent experience by freeing up time to deepen customer relationships.
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New Orange Partners, New Options
Vertafore launched its Orange Partner Program (OPP) last year to enable agencies to integrate complementary, best-in-class business solutions with their Vertafore agency management systems (AMS) and products. Vertafore welcomes Rocket Referrals, Formstack Sign, InsCipher, Levitate and Lightspeed Voice to join its existing roster of 14 partners.
Through these vetted partnerships, Vertafore customers can quickly implement business tools—ranging from marketing automation to advanced customer communications to process facilitation—to help them better manage and grow their agency.
Our focus is always on helping our customers to run their businesses better, faster and smarter, we’ve heard from agents that one-size-fits-all systems can limit their choice of tools. Our Orange Partner Program and AMS360 Connect are part of our open approach to enable independent agencies to select and take advantage of the solutions that are right for them.
- Chad Hawkinson, Chief Product and Data Officer at Vertafore.
About Vertafore
For more than 50 years, Vertafore has built insurance technology to simplify and automate the insurance lifecycle so that our customers can focus on what matters most to them – people. Vertafore's solutions for agency management, client management, ratings, regulation, compliance and connectivity empower simpler, smarter insurance distribution for every stakeholder. More than 20,000 agencies, 1,000 carriers and 23 state governments rely on Vertafore to streamline their workflows, improve efficiency and drive productivity. Through a fierce devotion to customer success, a continual focus on excellence and a commitment to delivering modern, innovative InsurTech solutions, Vertafore is delivering results that make a difference for the entire distribution channel.
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