California to Toughen Rules on Group Discounts for Car Insurance

Wall Street Journal | December 23, 2019

California regulators are planning stiffer rules on car insurance sold through occupational, educational and other so-called affinity groups, contending some programs unfairly discriminate against low-income people. The state’s insurance department on Monday said it has launched an effort to toughen oversight of group-discount arrangements. The move follows an investigation that found the most-frequent beneficiaries of these arrangements were Californians in ZIP codes with higher average incomes, higher levels of education...

Spotlight

Welcome to the Nova Benefits portal!

With Nova’s tech-first employee portal, you can:

  1. Add, delete, and track employee data right from the data collection stage to the e-card mapping stage
  2. Simply invite employees to add their details as soon as they join your company. We support multiple channels to add new members to your Group Health Insurance Policy
  3. Invitation emails are shot out immediately so that employees can start activating their coverage from Day 1.
  4. Employees can add personal details and information regarding their dependants to activate coverage. Once approved, your employee’s Nova account goes LIVE!
  5. Keep track of all your data via the Monthly Endorsement Batch. You can also track missing data and send automated reminders to employees to complete adding their details.
  6. Edit and approve data before activating benefits, as well as keep track of your previous endorsements, ensuring that your employee database is always error-free.
  7. Seamlessly upload your existing employee database to Nova’s portal with HRMS integrations and Google Workspace integration. This automation enables you to fetch all your employee data and invite people to fill in any pending information. We have automated reminders enabled here as well.
  8. With the bulk upload feature, directly upload an excel sheet to the portal.
  9. Delete employee information in just a few clicks whenever someone exits the organisation.
  10. Access and sign-up for upcoming wellness events curated for your team.
  11. Access our dedicated customer service team via the portal for concerns, queries or questions.

About Nova Benefits
Nova Benefits is the one-stop tech platform for providing your employees with the best health and wellness benefits. We're building an employee wellness platform centred around health insurance. We find the best deals for your company and ensure your employees can access them easily. All while ensuring there is no administrative overhead for your HR.

Spotlight

Welcome to the Nova Benefits portal!

With Nova’s tech-first employee portal, you can:

  1. Add, delete, and track employee data right from the data collection stage to the e-card mapping stage
  2. Simply invite employees to add their details as soon as they join your company. We support multiple channels to add new members to your Group Health Insurance Policy
  3. Invitation emails are shot out immediately so that employees can start activating their coverage from Day 1.
  4. Employees can add personal details and information regarding their dependants to activate coverage. Once approved, your employee’s Nova account goes LIVE!
  5. Keep track of all your data via the Monthly Endorsement Batch. You can also track missing data and send automated reminders to employees to complete adding their details.
  6. Edit and approve data before activating benefits, as well as keep track of your previous endorsements, ensuring that your employee database is always error-free.
  7. Seamlessly upload your existing employee database to Nova’s portal with HRMS integrations and Google Workspace integration. This automation enables you to fetch all your employee data and invite people to fill in any pending information. We have automated reminders enabled here as well.
  8. With the bulk upload feature, directly upload an excel sheet to the portal.
  9. Delete employee information in just a few clicks whenever someone exits the organisation.
  10. Access and sign-up for upcoming wellness events curated for your team.
  11. Access our dedicated customer service team via the portal for concerns, queries or questions.

About Nova Benefits
Nova Benefits is the one-stop tech platform for providing your employees with the best health and wellness benefits. We're building an employee wellness platform centred around health insurance. We find the best deals for your company and ensure your employees can access them easily. All while ensuring there is no administrative overhead for your HR.

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CORE INSURANCE

Combined Insurance Opens New Regional Office in South Carolina

Combined Insurance | November 21, 2022

Combined Insurance Company of America, a Chubb company and a leading North American provider of supplemental insurance sold to employees at the worksite and directly to individuals, announced today that it has opened a new regional office in Columbia, South Carolina. "While the trend in many industries is to move away from in-person work, Combined believes it's important to offer our team members choice, flexibility, and a collaborative environment, Columbia is a wonderful place to do business. It offers a labor market talent-rich in insurance industry expertise, and the Southeast is a prime region for voluntary business sales growth." -Rich Williams, President of Combined Insurance Open, Flexible Space Combined's new regional office is located in 13,000 square feet on the 23rd floor of the Capitol Center, South Carolina's tallest building and more commonly called the Truist Building. The open floor plan provides an outstanding setting in which to host broker and customer meetings. Nearly 30 team members in the Columbia area, who previously worked remotely, will call the office home, including a cross-departmental mix of executives, sales and field support leadership, as well as members of the claims, compensation, finance, legal, licensing, marketing and operations teams. The office also provides additional space to accommodate additional staff as needed in the future. We have created a space where our teammates – not only from the Midlands but across the national Combined footprint – can gather to collaborate and work on behalf of our customers and policyholders, The area's abundant talent across job roles and the benefits industry makes it the perfect place for Combined to grow,said Eileen Castolene, Senior Vice President and Chief Operations Officer for Combined. Voluntary Benefits Sector Combined offers life, accident, cancer, critical illness and disability insurance, as well as hospital indemnity protection. These products, when offered through the worksite, allow employers to offer employees additional financial peace of mind during these times of rising healthcare costs and economic turbulence. In today's tight labor market, a competitive benefits package can assist employers in recruiting and retaining talent. In fact, more than three-quarters of employees say voluntary benefits positively affect their decision to work for, or stay with, an employer (Corestream, 2021). Centennial Year Today's announcement comes at an important time for Combined, as it celebrates its 100th anniversary in business. The company was founded Nov. 13, 1922 in Chicago. As we mark our 100th birthday this week, and celebrate our distinctive history, we're proud to start our second century by expanding our office footprint and investing in Columbia, This new office enhances our ability to provide insurance solutions of value and help individuals and families in times of need,Williams said. About Combined Insurance Combined Insurance Company of America is a Chubb company and a leading provider of supplemental accident, health, disability, and life insurance products in the U.S.* and Canada. Headquartered in Chicago with a tradition of 100 years of success, we are committed to making the world of supplemental insurance easy to understand. The company has an A+ rating by the Better Business Bureau and an A + (Superior) financial strength rating by A.M. Best. We are ranked by VIQTORY as the number one Military Friendly® Employer in 2022 (over $1 billion revenue category), marking Combined's eleventh consecutive year on the Top 10 list.

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CORE INSURANCE, INSURANCE TECHNOLOGY

Zywave Expands Carrier Offerings with Launch of Carrier Engagement Suite

Zywave | September 02, 2022

Leading insurtech provider, Zywave, today announced the release of a new offering, Carrier Engagement Suite, which leverages Zywave's Client Cloud to connect carriers with insureds at scale by harnessing industry-leading content, web portal access, and a learning management system, all in a single platform. The Carrier Engagement Suite fosters stronger relationships with insureds, while differentiating the carrier's offerings and services. This one-stop shop gives insureds the tools to take greater control of their insurance journey, while bolstering insurers' value as they provide these critical resources to individual employers and corporate policyholders. "Our Carrier Engagement Suite dramatically upticks the number of off-cycle customer touchpoints for carriers between policy inception and renewal, Providers are expected to engage with insureds and continually offer content and resources which effectively lower claims exposure and raise retention stickiness but that's a lot of work. Zywave's Carrier Engagement Suite lowers that burden by delivering these resources at scale. With content, courses, and tools available in one centralized location, carriers now have a streamlined process that enables them to meet the increasing expectations of their customers." -Zywave senior vice president Jeff Cohen This dynamic solution set allows carriers to access, curate, and share relevant resources with their insureds. In addition, the Carrier Engagement Suite is home to a vast library of comprehensive content, hundreds of compliance courses, and tool packages for multiple specialties. Carriers can customize the user experience and portal interface to match their branding and corporate style, creating a seamless extension of their coverage offerings. The Carrier Engagement Suite's web portal is also available to insureds 24/7, ensuring that they can connect to important information and resources at their convenience. About Zywave Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Zywave's all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals their own Modern RevOps Machine. More than 15,000 carriers, agencies and brokerages worldwide including all of the top 100 U.S. insurance brokerages use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety.

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INSURANCE TECHNOLOGY

Vouch Partners with Capsule To Support Startups Internationally

Capsule and Vouch | November 11, 2022

Capsule, a specialist insurance provider to high-growth companies in the UK, today announced a partnership with Vouch, a San Francisco-based insurance platform that provides business insurance for high-growth technology startups in the US. With this partnership, the two companies will work together to ensure that they can support their clients' needs internationally. The partnership comes just a year after Capsule's launch and will help startups and tech innovators across all the main markets protect themselves as they grow. As part of the partnership, Capsule will also assist Vouch's US venture and incubator partners with their UK portfolio companies, and Vouch has made an investment in Capsule. The additional funding will be used by Capsule to advance its technology and recruitment. Since Capsule launched in September 2021, the company acts for some of the country's top startups and scale-ups including Onfido, Codat, Otta, Hofy and Castore, and has in recent months partnered with SeedLegals, Crowdcube and a number of leading VCs. Prior to launching Capsule, co-founders Thomas Wynne and Liam Green successfully scaled and sold UK insurance group Kingsbridge in a nine-figure exit to US-based NSM in March 2020. Vouch, founded by CEO Sam Hodges (formerly CEO of Funding Circle US) and CRO Travis Hedge (formerly of Silicon Valley Bank), is a new kind of insurance platform for startups that offers fully digital, tailored coverage that takes minutes to activate. With over $160 million raised to date from the likes of Y Combinator, Ribbit Capital, Silicon Valley Bank and Index Ventures, as well as a recent valuation of over $550 million, Vouch has cemented its status as a 'soonicorn' with its sights firmly set on the next stage of business growth. "Vouch is committed to protecting founders and company builders where they are today and where they'll be tomorrow. Our partnership with Capsule represents an important first step in our plan to provide holistic international risk management solutions, so our clients can protect their global operations with the same ease and confidence they experience with us today. We're excited to start this journey with the Capsule team." -Sam Hodges, CEO of Vouch Thomas Wynne, Co-Founder and CEO of Capsule, added: The hyper-growth startups we support have global aspirations. Yet even the most sophisticated teams face a steep learning curve when scaling their risk management programs internationally. Our partnership with Vouch enables us to solve insurance holistically across markets and unlock further growth. About Capsule Capsule is a specialist insurance provider that helps startups and scale-ups in sectors such as Web3, Fintech, Enterprise (SaaS) and Consumer Tech navigate the risks of rapid expansion by ensuring they have the proper protection in place. Specialising in cover for businesses from seed stage through to IPO, Capsule offers policies including Directors' and Officers', Key Person, Professional Indemnity and Cyber Liability insurance, as well as many others. Their advice is geared for growth ('Capsule' is an anagram of 'scale-up') and backed by state-of-the-art technology that tracks clients across more than 300 data points. As a certified B Corporation, Capsule is also committed to using business as a force for good. Their team is equally passionate about helping similarly mission-driven and impactful organisations get these factors recognised and rewarded by the insurance sector. About Vouch Vouch is a US-based provider of business insurance to thousands of high-growth companies. Since its inception in 2018, the company has empowered its clients to get risk management right through niche expertise, a proprietary approach to pricing and underwriting, fast, digital-first procurement and coverages that scale as the company grows.

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