Arch Insurance to Buy Coastal Commercial Property MGU Ventus Risk Management

Arch Insurance | August 19, 2019

Arch Insurance North America has agreed to acquire Ventus Risk Management, a technology and analytics-driven managing general underwriter that specializes in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Ventis, founded in 2016, has 30 employees and offices in Atlanta, Columbia, S.C., Houston, and Richmond, Va. Ventus provides commercial property insurance from several carrier partners Including XL. Its proprietary technology improves automation, efficiency and risk selection by augmenting data submitted by insureds with third-party sources and proprietary algorithms. It also reports on risks in real-time, which the firm says makes risks more attractive to both traditional (re)insurers and capital markets investors.

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Spotlight

You can enhance your business’s revenue stream and customer experience by implementing a tailored insurance program powered by Marsh Affinity’s digital platform. Sourcing for and managing the appropriate insurance program can be challenging, but Marsh Affinity’s digital platform is designed to help you monitor and optimise your program with ease.

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CORE INSURANCE,INSURANCE TECHNOLOGY

Verlingue Expands in Grand Est Region with Two New Acquisitions

Verlingue | January 17, 2023

Verlingue, a French Adelaïde Group subsidiary specializing in corporate protection, is expanding into the Grand Est region (France) with two new acquisitions. Cabinet Depeyre, an insurance broker founded in 1997, specializes in consulting and managing complex business risks. Meanwhile, Depeyre Solutions, established in 2014, is a business risk underwriting agency for brokers and general agents. The group employs 23 people for commissions of just over €4 million. Cabinet Depeyre, an insurance broker specializing in complex business risks, works with its clients to analyze, prevent, and manage their risks. The Cabinet Depeyre teams have expert knowledge in high-pressure industries like wood processing, transportation, and logistics, building material producers and traders, etc., whether in civil liability or property damage cases. Jean-Michel Depeyre, Head of both companies, stated, "With Verlingue, I firmly believe that our teams will be able to provide even better support to our customers and provide them with all the solutions offered by a company with which we already share common values and a vision of our role as a trusted partner in risk management." (Source- Business Wire) Following the acquisition of RT Global Insurance in Portugal at the end of 2022, Cabinet Depeyre and Depeyre Solutions in France strengthen Verlingue's external growth dynamics as part of its strategic plan for 2024. About Verlingue The company uses corporate risk management and employee protection to help clients create value and perform. Intending to make insurance simple, Verlingue advises and manages insurance programs for over 3,200 corporate clients. With offices in Portugal, France, Great Britain, and Switzerland and partners in over 100 countries, it creates simple yet practical solutions to safeguard the client's company (corporate risk) and employees. In addition, Verlingue collaborates with its clients to better identify and plan for future threats (supplementary social protection schemes and pensions).

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CORE INSURANCE,CLAIMS

APRIL signs strategic partnership with KKR for its next phase of growth

APRIL | November 28, 2022

With a turnover of €544 million in 2021, double-digit growth dynamics for 2022 and a nearly 20-point rise in its NPS, the APRIL Group has completed its transformation, achieving its objectives more than a year in advance. Building on this upward trajectory and its position as the French leader in wholesale insurance, the group has decided to take its ambitions to the next level and secure the means to become a key player at an international level. To support this new stage of growth, the APRIL Group will now be supported by KKR, which, as a majority shareholder, will bring its global expertise in insurance and financial services. The transaction will be subject to the usual legal and regulatory approvals. "The APRIL Group was created 35 years ago by a visionary entrepreneur. After a great collaboration with CVC Capital Partners, April recovered its original strength. Our aim is to continue the history of this great company and to make it a French champion on a global scale. This next chapter will be enabled by the management team, our 2,300 employees, and KKR, for the benefit of our partners and policyholders," - Eric Maumy, President & CEO of APRIL Group Over the past 3 years, the APRIL Group has reinvented itself: Organic growth of +8% in 2021 thanks to substantial work on products in France and worldwide across all its markets - loan insurance, health / personal protection, casualty niche insurance, international medical insurance - and entering a new market, property insurance, through the acquisition of Magnacarta; Improvement in customer experience, as recognised by 24-point NPS; Returned to its position as an industry leader, with all actors mobilised around the liberalisation of the loan insurance market; Strengthened digital and technological capabilities, with the creation of the dedicated APRIL X hub and the acquisition of ELOA and Comparadise; 800 employees recruited in 3 years; International expansion, with offices opened in Germany and Dubai. About APRIL APRIL is the leading wholesale broker in France, with a network of 15,000 partner brokers. The group's 2,300 staff members aim to offer their customers and partners – individuals, professionals and companies – an outstanding experience, combining the best of human relationships and technology, for health and personal protection for individuals, professionals and VSEs; loan insurance; international health insurance; property and casualty niche insurance; and asset management. By 2023, APRIL aspires to become an agile, omnichannel, digital operator, a champion of customer experience and a leader in its markets, while committing to the social responsibility goals in its Oxygen programme. The APRIL Group operates in 17 countries and recorded turnover of €544m in 2021.

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RISK MANAGEMENT,INSURANCE TECHNOLOGY

Insurtech Company Vouch Introduces Policy for Web3 Companies

Vouch | December 27, 2022

Vouch, known as the 'Insurance of Tech,' recently launched the first insurance solution for Web3 companies. Under this, it will cover Web3 companies with insurance policies, including smart contract vulnerabilities, DAOs, crypto, and more. "The global insurtech market size is expected to expand at a compound annual growth rate (CAGR) of 51.7% from 2022 to 2030." - Grand View Research In the past year and a half, about 3,000 startups have raised almost $40 billion. Many of these are run by founders who are building strong companies that solve real problems for real users. Till now, Web3 companies had to settle for insurance that didn't meet their needs or make do with what they already had, which eventually slowed their growth. Vouch has become the most trusted partner by getting $160 million from the best companies in Silicon Valley. Its newest market includes Web3 companies, while Ansible Labs, Bitwave, Stardust, and Utopia Labs are some of its launch clients. Traditional policies tend to leave crypto out, but Vouch's Web3 Protection Policy covers that. In addition, the policy includes four coverages that can be expanded to cover key Web3 risks based on the needs of the client: Directors & Officers (D&O) insurance helps protect the company and the personal assets of its founders, officers, and board members from claims of wrongdoing, such as misrepresentation or breach of fiduciary duty, as well as the costs of responding to or defending against the claims. Errors and Omissions (E&O) insurance protects the company when a customer claims that the company's services caused them to lose money. Cyber: It helps pay for data breaches caused by mistakes, hacking, and social engineering. It also protects against privacy violations, security failures, and system failures. Crime: Helps protect the company from employee theft, forgery, and fraud, as well as some digital assets. Vouch has built a strong partner network to meet the needs of its Web3 customers in addition to its coverage. In the partner network, Fireblocks is responsible for direct custody technology, Silicon Valley Bank for banking, Upside for token management, and Tactic for accounting. AboutVouch Vouch Insurance is a new type of insurance platform for startups that is trusted by the startup industry's biggest names, including Y Combinator and Silicon Valley Bank. Everything has been designed for startups by experienced founders, from onboarding to claims. The company, which has offices in San Francisco and Chicago and whose fully digital coverage can be activated in minutes, assists clients in managing, mitigating, and avoiding risks.

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