CORE INSURANCE,INSURANCE TECHNOLOGY
World Insurance Associates LLC | December 19, 2022
World Insurance Associates LLC (World), a Top 50 Insurance Brokerage, announced today that it acquired DG&M Insurance Agency (DG&M) of Rochester, NY on November 1, 2022. Terms of the transaction were not disclosed.
DG&M Agency, Inc., was established in 1996 with the goal of providing customers with superior service by offering quality insurance products and services that satisfy their needs and exceed their expectations. Today the agency serves the needs of individuals and businesses in over a dozen states--providing auto, home, life, commercial, and disability insurance as well as bonds and employee benefits.
“Despite our growth over the years, our agents are still committed to providing the same small-town client-based service and attention to detail that has made us a leading choice among those seeking honest, reliable attention to their insurance needs, Our agents take pride in the individual service they offer to each and every customer, remaining abreast of industry trends, technology and changes that could affect their customers’ insurance products. I’m glad to be continuing this approach as part of World.”
-Dale K. Trott, Agency Principal, DG&M Insurance Agency
I’d like to welcome DG&M to the World family, Their vision and progressive way of doing business for more than 20 years has earned them industry recognition, and I am happy to have them as part of World,says Rich Eknoian, CEO and Co-Founder of WIA.
Giordano, Halleran & Ciesla provided legal counsel to World. Pullano & Farrow PLLC provided legal counsel to DG&M. No other advisors, diligence firms or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed over 170 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #2 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and is a Top-50 ranked personal lines agency by Insurance Journal.
CORE INSURANCE, INSURANCE TECHNOLOGY
Covr and Smart Choice | January 25, 2023
On January 24, 2023, Covr Financial Technologies and Smart Choice announced that they have teamed up to make Covr Pro available to 9,500 Smart Choice agencies thereby, enabling independent advisers to access Covr's cutting-edge digital solution.
Covr Pro is a digital platform for independent advisers that gives them a number of benefits, such as an easy-to-use interface, competitive pay, help with application intake, and full case management (including electronic signatures and document delivery). With industry-proven transporters, there is no output requirement, and access is also immediate.
Ron Alexander, Covr President and Chief Innovation Officer, said, "Covr Pro offers instant access to leading technology and comprehensive support that streamlines insurance transactions and improves client experiences." He further expressed, "We're thrilled that our digital BGA solution is now available to Smart Choice agencies and their advisors to help grow their insurance businesses."
(Source – Cision PR Newswire)
Covr Pro also comes with expert help from the Covr team as well as self-service tools and real-time rates from top insurance companies. Independent advisers who aren't insurance specialists can direct clients to Covr Assist for assistance with all aspects of coverage.
Joe Fisher, Chief Operating Officer of Smart Choice, remarked, "Smart Choice is thrilled to bring Covr's state-of-the-art digital insurance platform to our agencies." He further remarked, "Insurance solutions are an important part of building business, and the Covr Pro platform makes the process fast & simple."
(Source – Cision PR Newswire)
Covr is a web-based insurance platform that makes it simple to safeguard the relationships that matter most. The company's embedded insurance technology enables financial advisors and their clients to research and purchase insurance from well-known life insurance companies without the hassles of the traditional process and, in some cases, in a matter of minutes. This is made possible through partnerships with financial institutions and other national brands.
About Smart Choice
Smart Choice has over 9,000 independent agents and 100 insurance carriers. It is the only no-fee program that provides independent insurance agents with top-rated markets, product training, and sales and marketing support. The company supports and markets new, former captive, and seasoned agents. Meanwhile, its no-fee program gives Smart Choice Agents access to its bimonthly magazine and business solutions center.
WORKERS COMPENSATION,INSURANCE TECHNOLOGY
Axis Launches | January 04, 2023
AXIS Capital Holdings Limited has announced the implementation of a Specialty Package Policy for manufacturers through its Environmental business unit. The SPPm policy protects manufacturers against a wide range of general and environmental liability risks in a single insurance package.
Manufacturing, distribution, warehousing, and processing businesses, as well as waste storage, treatment, and disposal facilities, are all covered by SPPm. The new policy is accessible to US-based manufacturing and distribution enterprises with up to $2 billion in revenue.
According to AXIS, this new environmental product is just one element of its larger initiative to bring more advanced capabilities and fresh ideas to the niche market. As a result of the complexity of the risks they confront, manufacturers and wholesalers require insurance policies of an equally high level of sophistication.
SPPm offers ISO-based CGL, product and product pollution liability, non-owned site pollution liability, transportation pollution, premises pollution liability, employee benefits administration, emergency response expense coverage, and product withdrawal expense.
As general liability and environmental risks become more linked, AXIS says it's no longer prudent to examine them separately. With SPPm, the company can provide its partners with an integrated solution to managing complicated risk and coverage in a simple, smooth, and cost-effective way.
About AXIS Capital
AXIS Capital is a global provider of specialty lines insurance and treaty reinsurance through its operating subsidiaries. As of September 30, 2022, the company held shareholder equity of $4.3 billion with locations in Bermuda, the United States, Europe, Singapore, and Canada. The ratings of 'A+' ('Strong') and 'A' ('Excellent') that have been given to the company's operating subsidiaries by Standard & Poor's and A.M. Best, respectively, reflect the company's excellent financial standing.