Core Insurance, Insurance Technology
GlobeNewswire | August 10, 2023
Celina Insurance Group, a community-focused provider of P&C insurance for over 100 years, recently announced their selection of insurtech company Betterview. Celina will utilize Betterview’s Property Intelligence and Risk Management solution to drive more accurate assessments of property conditions during policy renewal.
Celina sought out an insurtech partner to obtain reliable and consistent data on roof condition, an especially relevant factor for Midwestern insurers dealing with inclement weather. Previously, Celina’s underwriters relied on time-consuming physical inspections to assess roof condition and often had to make adjustments later in the policy lifecycle. Betterview provided Celina with more accurate property data upfront and an extensive selection of roof-related property insights for improved risk selection and efficient underwriting.
“Betterview gave us even more than we asked for,” says Trish Harlamert, vice president of underwriting at Celina. “There are so many great datasets and tools on their platform, including a full, transparent assessment of overall roof condition and the ability to flag changes in property condition over time. This is extremely useful for renewals because we can see if a policyholder has added a swimming pool, trampoline, or even an additional structure since the last time we had eyes on the property.”
Betterview is confident their platform will drive more efficient renewal workflows for Celina. “Our platform empowers insurers like Celina with an instant, AI-powered view of current and historical roof condition. Our mature machine models can detect over two dozen relevant risk drivers, including staining, ponding, and missing shingles,” says Dave Tobias, chief operating officer and co-founder at Betterview. “Equipped with the best property data, they can make more informed decisions and collect adequate premiums without relying on costly, time-consuming physical inspections.”
About Betterview
Betterview is the Property Intelligence & Risk Management Solution the insurance industry depends on to identify and mitigate property risk, improve underwriting and inspection efficiency, and build a more transparent customer experience. Applying Artificial Intelligence (AI) and computer vision to aerial imagery and geospatial data, Betterview generates the most accurate property information insurers trust to automate pricing, underwriting, and renewals while focusing strategic action on critical properties. Combined with flagging, continuous monitoring, and pre-filed peril risk scores, Betterview is helping transform property insurance from Repair and Replace to Predict and Prevent. For more information, please visit www.betterview.com
About Celina Insurance Group
Celina Insurance Group is comprised of four mutual property and casualty insurance companies. The companies provide protection for autos, homes, businesses and farms through more than 500 independent agencies in five states. Founded in 1914 with headquarters in Celina, Ohio, the organization is committed to supporting its policyholders and communities. https://www2.celinainsurance.com
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Core Insurance, Insurance Technology
Business Wire | August 04, 2023
Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, has announced the acquisition of Jackson Insurance Solutions, a well-known insurance agency in Albuquerque, New Mexico. This acquisition is part of Inszone's strategic plan to expand its presence and service offerings in the Southwest region.
Jackson Insurance Solutions, founded by Joshua Jackson in 2010, has been serving the Albuquerque area for over a decade, delivering innovative insurance solutions to both individuals and businesses. Renowned for its unwavering dedication to the local community, the agency is recognized for its commitment to finding effective and affordable insurance solutions for the Albuquerque community.
"I had numerous concerns about my staff's future and the complexities of the merging process," said Joshua Jackson, former owner of Jackson Insurance Solutions. "However, after extensive discussions with Chris, it became clear that our goals were aligned, and merging with Inszone was the perfect path to expedite our growth. I look forward to a future of continued shared success, empowering our clients with even more comprehensive insurance solutions as part of the Inszone family."
With this acquisition, Jackson Insurance Solutions will continue to operate under the Inszone Insurance brand and will remain in its current location. All employees will be retained, ensuring that clients receive the same high-quality service they have come to expect from the agency.
"We are absolutely thrilled to extend a warm welcome to Jackson Insurance Solutions as the newest addition to the Inszone family," said Chris Walters, CEO of Inszone Insurance Services. "New Mexico becoming the 11th state in our ever-growing network marks a significant milestone for us. Jackson Insurance Solutions' stellar reputation in the Albuquerque community perfectly aligns with our commitment to delivering exceptional services. We are excited to leverage their expertise to better serve clients in the Southwest region and ensure a seamless experience as we embark on this exciting new journey together."
Inszone Insurance is expected to announce a number of important acquisitions in the upcoming months as it continues to build its national presence.
About Inszone Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 42 locations across California, Arizona, Colorado, Illinois, Michigan, Missouri, Nevada, New Mexico, Oregon, Texas, and Utah, the company is looking to further expand throughout the United States.
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Risk Management, Life Insurance
PR Newswire | August 11, 2023
Vitech Systems Group announced that it has been named a Leader of U.S. life and retirement (L&R) policy administration systems (PAS) in the ISG Provider Lens™ Insurance Platform Solutions report for the third year in a row. This report is conducted by Information Services Group (ISG) and offers an L&R PAS provider quadrant analysis and a comprehensive comparison of strengths, challenges, and competitive differentiators.
Vitech's V3locity cloud-native platform was commended in the study for its end-to-end functionality, flexible and agile operationalization, and robust support of group insurance benefits. Its capabilities enable quick time to value, straight-through processing, and an excellent user experience for employees, employers, and brokers.
Ashish Jhajharia, the author of the report, noted, "Vitech's V3locity cloud-native platform, which caters to the market with a system created exclusively for the group benefits area, offers a high degree of configurability, capabilities across the value chain and enhanced functionalities for carriers operating in this category."
According to ISG, L&R PAS quadrant Leaders possess a comprehensive product and service offering, a strong market presence, and an established competitive position. They also represent innovative strength and competitive stability.
"We are thrilled that Vitech has once again achieved the prestigious recognition of Life & Retirement Insurance Platform Solutions Leader by ISG," said David Burns, Vitech's CEO. "Receiving this recognition for the third consecutive time is market validation that our focus on innovation and unwavering commitment to providing market-leading capabilities and services continues to bring exceptional value to our customers and their beneficiaries."
V3locity is Vitech's cloud-native administration, engagement, and analytics platform. It is a transformative suite of complementary applications that offers full life cycle business functionality and robust enterprise capabilities. It marries core administration with a revolutionary digital experience. Its modular design enables flexible, agile deployment strategies. V3locity employs a cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency.
About Vitech®
Vitech is a global provider of cloud-native benefit and investment administration software. The organization helps their insurance, retirement, and investment clients expand their offerings and capabilities, streamline their operations, gain analytical insights, and transform their engagement models. Vitech employs more than 1,400 professionals, serving the world's most successful insurance, retirement, and investment organizations. An innovator and visionary, Vitech's market leadership has been recognized by industry experts, such as Gartner, Celent, Aite-Novarica, and ISG. For more information, please visit vitechinc.com.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 70 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry's most comprehensive marketplace data. For more information, visit isg-one.com.
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