BCGI to launch global aviation reinsurance brokerage

insurancebusinessmag | June 18, 2019

BCG Insurance Group (BCGI), a division of global brokerage and fintech company BCG Partners, has announced plans to launch a specialist global aviation and aerospace reinsurance brokerage. Marcel Chad has been named president of the new BCGI brokerage.

Spotlight

At a recent roundtable held by Insurance Post in association with LexisNexis Risk Solutions, an expert panel discussed how motor insurers could make better use of data to improve the customer journey post-loss, improve efficiency and, ultimately, create a seamless claims process.

Spotlight

At a recent roundtable held by Insurance Post in association with LexisNexis Risk Solutions, an expert panel discussed how motor insurers could make better use of data to improve the customer journey post-loss, improve efficiency and, ultimately, create a seamless claims process.

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RISK MANAGEMENT,INSURANCE TECHNOLOGY

Oakbridge Insurance Expands Presence in Tennessee Through Partnership With NorthShore Insurance

Oakbridge Insurance Agency | December 20, 2022

Oakbridge Insurance Agency LLC (Oakbridge), one of the largest independent insurance and risk management agencies in the United States, today announced a new partnership with NorthShore Insurance LLC, an independent agency located in Chattanooga, Tennessee. The partnership supports Oakbridge's continued expansion throughout the southeast. NorthShore Insurance offers a broad range of personal insurance products and advice with expertise in addressing the unique and varied needs of the affluent and high net worth clients. For decades, NorthShore has helped individuals protect their personal assets and reduce risk. "We are excited to welcome NorthShore as our newest partner in Tennessee, Vickie and her team's expertise in personal insurance will serve as an asset for the management of Oakbridge's business in Tennessee and throughout the southeast." -Oakbridge CEO Robbie Smith The partnership provides both firms with access to a broader pool of resources, industry knowledge and niche expertise, and further expands its focus on specialization in personal lines. We look forward to joining the talented team at Oakbridge, We feel certain that the partnership with Oakbridge will further enhance our commitment to client service excellence and move NorthShore to the next level of capabilities for our clients,said Principal Vickie Champion. About Oakbridge Insurance Agency Founded in 2020, Oakbridge Insurance Agency LLC is a rapidly growing partnership model for firms seeking accelerated growth, access to capital, and an expanded suite of resources with which to serve clients. Ranked a "Top 100" insurance brokerage by Business Insurance and Insurance Journal magazines, Oakbridge is one of the largest privately owned insurance, risk management and employee benefits agencies in the nation. The agency has specific experience in the agriculture, bond/surety, construction, financial, health care, manufacturing, municipalities, non-profit, senior living, affluent personal and transportation industries. About NorthShore Insurance LLC Northshore Insurance serves the insurance needs of individuals, families and businesses. As an independent insurance agency, NorthShore represents many top-rated insurance companies. NorthShore is centrally located on the Northshore of Chattanooga, Tennessee.

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CORE INSURANCE,INSURANCE TECHNOLOGY

Arbella Insurance Group Adds One Inc’s PremiumPay® and ClaimsPay® With Diversified Digital Payment Options

Arbella Insurance Group and One Inc | December 09, 2022

One Inc, the leading digital payments network for the insurance industry, announced today that Arbella Insurance Group, a customer-focused, regional property, and casualty insurance company based in Massachusetts, has selected One Inc’s best-in-class suite of digital payment solutions with PremiumPay® and ClaimsPay®, for both inbound and outbound payments. With the implementation of One Inc’s digital platform and the delivery of Duck Creek Technologies’ integrated core systems platform for P&C carriers, Arbella will be fully equipped with the payments features and functionality needed to digitally empower its agents and customers. The result will be the seamless handling of inbound customer payments paired with faster claims disbursal, improved customer service, and reduced operational costs. “As our customers’ needs continue to evolve, we wanted a modern process payments solution with the flexibility to allow us to quickly adapt and respond, We believe that the integration of One Inc followed by the integration of Duck Creek will provide us a solution for our current needs, while also giving us the runway to scale as our business grows and our offerings become more inventive for our agents and regional customers.” -Janet Corcoran, EVP and Chief Operating Officer, Arbella Insurance Group We are thrilled to support Arbella’s commitment to enhancing the quality of their products and services through the modernization of their payment solution, We look forward to our partnership as Arbella transforms its business and realizes the benefits of modern digital payments,said Ian Drysdale, Chief Executive Officer of One Inc. About One Inc One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payment, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments. About the Arbella Insurance Group Established in 1988, the Arbella Insurance Group is an A rated company by AM Best, with more than $800 million in revenue and approximately $1.8 billion in assets. Headquartered in Quincy, Massachusetts, Arbella is a customer-focused, regional property and casualty insurance company, providing commercial insurance products in Massachusetts, Connecticut, Rhode Island and New Hampshire, and personal insurance products in Massachusetts and Connecticut. Recognized as one of the Boston Business Journal’s “Best Places to Work” for 14 consecutive years, Arbella is deeply committed to maintaining high levels of employee satisfaction and supporting a positive and inclusive workplace culture. Arbella attributes its success to their dedicated employees, strong agent partnerships and community focus.

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WORKERS COMPENSATION,INSURANCE TECHNOLOGY

Insurity Launches New Payroll Validator Feature for Sure Premium Audit, Enabling Workers’ Comp Carriers to Streamline the Audit Process

Insurity | November 29, 2022

Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced that it had launched a Payroll Validator feature for workers’ compensation carriers leveraging Sure Premium Audit. The Payroll Validator will automate payroll data collection from over 100 payroll service providers and streamline the audit process for both workers’ comp carriers and policyholders. The Payroll Validator feature is available for immediate purchase for existing Sure Premium Audit users. Sure Premium Audit enables P&C carriers to uncover additional premiums by automatically screening a carrier’s entire book of business to generate audits based on business-defined rules without human intervention. For example, a top 25 P&C carrier recently presented at Insurity’s customer conference, Excellence in Insurance Innovation, that Sure Premium Audit’s automation tools have allowed them to reduce the operational time of their audit staff by over 24,000 hours a year. Now, with the new Payroll Validator feature, workers’ compensation carriers can further automate their audit process by transferring raw payroll data from over 100 payroll service providers, decreasing wait times as payroll data is imported directly to the field audit tool. Policyholders can log in once and provide permission to pull payroll data throughout the policy period or shortly after. Sure Premium Audit’s Payroll Validator also reduces the opportunity for fraud. Carriers can increase security by eliminating the sending of sensitive data through email or other unsecured channels and minimize fraud by having the unaltered payroll data come directly from the source of the payroll system. “The faster and more efficient workers’ comp providers can make their premium auditing process, the faster they can send out bills, and more likely they are to collect payments, Sure Premium Audit’s Payroll Validator automates a historically time-consuming process for workers’ comp providers by capturing that payroll data directly from the payroll service provider. Not only does this eliminate the time auditors must spend obtaining messaging and payroll data from policyholders, but it creates a more streamlined experience for your policyholders.” -Sylvester Mathis, Chief Insurance Officer at Insurity About Insurity Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 15 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform and with unrivaled industry experience and the industry’s most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates.

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