RISK MANAGEMENT, INSURANCE TECHNOLOGY
Cybercube | January 24, 2023
Accretive Insurance Solutions, a consortium of top-tier, nationally-recognized independent specialty and wholesale insurance carriers and administrators, announced on January 23, 2023, that it has partnered with top-tier cyber analytics firm CyberCube to provide better risk transfer counseling.
Accretive is licensing CyberCube's Broking Manager to assist retail agents and their clients in making better risk transfer decisions. CyberCube's Broking Manager is the company's first software-as-a-service (SaaS) solution designed exclusively for the insurance brokerage sector. It provides a streamlined approach to evaluate potential financial exposure implications from cyber catastrophes, allowing clients to make informed coverage and limit decisions.
CyberCube Sales Manager Nate Brink remarked, “Today, CyberCube's market-leading analytics are helping thousands of insurance buyers quantify their cyber risk exposure. This partnership with Accretive will drive better-informed risk transfer decisions when clients are considering buying cyber insurance."
(Source – Business Wire)
Meanwhile, Rob Roth, Executive Vice President of Wholesale at Accretive, stated, "Accretive is focused on propelling growth for our agencies by providing the best resources and expertise in the industry. CyberCube's analytics will enable us to support our retailers and their insureds in making data-driven decisions and help grow our cyber business."
(Source – Business Wire)
CyberCube provides the insurance industry's best cyber risk analytics. The company's cloud-based technology helps insurance companies place insurance, underwrite cyber risk, and manage cyber risk aggregation by providing best-in-class data access and advanced multi-disciplinary analytics. CyberCube's enterprise intelligence layer gives information on millions of enterprises worldwide and models thousands of technology failure spots. In 2015, Symantec launched the CyberCube platform, which now functions as a standalone insurance firm with an unprecedented data partner ecosystem with support from ForgePoint Capital, HSCM Bermuda, MTech Capital, and Stone Point Capital individuals.
CORE INSURANCE,INSURANCE TECHNOLOGY
Alera Group | January 05, 2023
Alera Group, a national insurance, wealth, and retirement plan services provider, has acquired The Ascent Group and allied firms. The deal adds $1.5 billion to Alera Group Wealth Services' RIA business and $1.3 billion to Alera Group Retirement Plan Services.
The Summit Group in Virginia and Walsh & Nicholson Financial Group in Pennsylvania are connected to the Ascent Group. The Ascent Group has 42 employees, 15 of whom are financial advisors. By the end of 2022, Alera Group Wealth Services had $7.5 billion in assets, which included $1.5 billion in RIA assets and about $6 billion in AUM.
One of the most fundamental components of the Ascent Group's investment infrastructure is the turnkey asset management program (TAMP), which was created to lower the overall client expenses by bringing crucial operations in-house and eliminating vendors.
According to Alera Group, The Ascent Group is a good fit for the company's strategy of providing synergies and strategic benefits across its employee benefits and property and casualty verticals. It lets the company offer more complete solutions to clients, which can really help plan sponsors and participants come together. The organization is delighted to have the team join its expanding division in a role that will serve as a cornerstone.
Meanwhile, the terms of the transaction were not disclosed.
About Alera Group
Alera Group serves thousands of clients, offering various services such as employee benefits, P&C, wealth, and retirement plans. It merged 24 dynamic US offices. The organization blends national experience and resources with local, tailored service. It is the nation's 7th largest privately-held employee benefits firm, 15th-largest independent insurance agency, and 16th-largest privately-held insurance firm.
CLAIMS, RISK MANAGEMENT
CCIG | February 21, 2023
On February 20, 2023, CCIG, a risk management and insurance solutions provider, announced its acquisition of Cairn Advisors, LLC, for business expansion. With the Texas-based firm Cairn Advisors, it expands its reach in Austin with expectations of 20% organic growth in 2023.
With this acquisition, it opened its new office located in Austin in 2021. It will improve Cairn Advisors' client services and establish operations in its new office location. Even after the acquisition, co-founders of Cairn Advisors, Taylor Rogers and Rich Hejny, would continue to drive growth and provide employee benefits services in Texas. It would reflect CCIG's dedication to customer experiences. With a customized boutique approach, it would adhere to CCIG's aim of delivering the products and resources of a more prominent insurance firm.
With extraordinary organic growth, CCIG is listed in the Top 100 Brokers of the United States. It is one of the fastest-growing private companies in the country. Independent Insurance Agents and Brokers of America have constantly recognized it as the "Best Practices" Insurance Broker for nine years. It has also been rewarded with multiple Denver Top Workplace awards.
Chief Operating Officer of CCIG, JB Richardson, said, "This acquisition enhances our ability to serve more clients across the Southwest region, underscoring our strategic expansion, with a focus on employee benefits." He added, "The Cairn Advisors team shares our passion for creating personalized, forward-thinking insurance solutions, and we are thrilled to leverage their expertise for our current and future clients."
(Source – Cision PR Newswire)
Co-founder of Cairn Advisors, Taylor Rogers, said, "We are thrilled to join the CCIG team as we continue to rapidly expand our employee benefits practice," Rogers said. "CCIG's curious approach aligns with our vision for how to best serve our clients. The culture aligns with what we believe is critical to building a great business and we look forward to a bright future together."
(Source – Cision PR Newswire)
Headquartered in Englewood, Colorado, CCIG, an insurance company, provides solutions for personal and commercial insurance, risk and claims management, surety, employee benefits, home, auto, claims advocacy, risk management and claims analysis since 1985. It has been recognized as one of the top insurance brokerage providers for Property, Casualty, Risk Management, Benefits, Life and Wealth Management services across the United States. It offers customized and cost-effective solutions for business and personal insurance requirements for every company category, from international public trade companies to local family businesses. This customization assists in the management of exposures to risks.