LIFE INSURANCE

Carothers Insurance Agency Builds on Historic Legacy by Joining Integrity's Leading Platform

Integrity Marketing | March 07, 2022

Carothers_Insurance_Agency
Integrity Marketing Group, LLC ("Integrity"), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired Carothers Insurance Agency, a leading independent marketing organization ("IMO") based in Las Vegas, Nevada. As part of the acquisition, Chris Carothers, President of Carothers Insurance Agency, will become a Managing Partner in Integrity. Financial terms of the transaction were not disclosed.

It's so meaningful to partner with a company with the longevity of Carothers Insurance Agency, which has been making a difference in its community for half a century, Chris and his team focus on fostering personal interactions with every one of their customers. They have been incredibly proactive in the insurance community and bring a strong reputation for hard work. Carothers Insurance Agency can help us make our vision of innovating insurance a reality — all while utilizing Integrity's industry-leading technology and resources to fuel their growth. They have a rich legacy in Las Vegas, and we can't wait to extend that legacy another 50 years and beyond."
Bryan W. Adams, Co-Founder and CEO of Integrity.

Founder Michael D. Carothers opened Carothers Insurance Agency in 1969, offering health and life insurance products to seniors in the Las Vegas market. His son, Chris Carothers, joined the team more than 30 years ago and has continued to build on his father's deep personal commitment to love and serve, while establishing a strong national presence. Under Chris's direction, the agency provides incomparable industry knowledge, resources and training to help their brokers succeed. Additionally, the business has expanded to include Your Insurance Agency centers — retail locations where brokers can interact face-to-face with clients, matching Integrity's focus on meeting clients where they are. Chris has also led Carothers Insurance Agency toward regional and national positions of industry leadership.

Our agents and employees love to serve — whether it's our community, our industry organizations or our clients — and we feel like extended family with the people we serve, We've already built a time-honored company. What we needed was a partner who matched our commitment to service and could provide the rocket fuel for thoughtful expansion. Integrity offers our brokers innovative thinking and systems to help them succeed while staying ahead of changes in the industry. We're proud of our past and, as an Integrity partner, we have the world-class resources we need to look to the future with excitement."
Chris Carothers, President of Carothers Insurance Agency.

Integrity's partnership platform is designed to help successful companies like Carothers Insurance Agency reach their full potential. Integrity's infrastructure of business services, including finance, Technology & Innovation, People & Culture, legal and compliance, ensure partners are focused more on agents and consumers rather than on administration and back-office tasks. As an insurtech leader, Integrity offers robust technology-driven solutions for all stakeholders, encompassing data and analytics, proprietary customer relationship management systems, and quoting and enrollment solutions, as well as access to a industry-expert advertising and marketing firm.

To offer perspective and refine best practices, innovators and legends collaborate through Integrity's fast-growing partner network. These leading companies develop and optimize insurance and financial systems and help American consumers prepare for the good days ahead by offering life, health and wealth solutions.

out Integrity Marketing Group
Integrity, headquartered in Dallas, Texas, is an omnichannel insurtech leader of life and health insurance, and provider of innovative solutions for wealth management and retirement planning. Through its partner network, Integrity helps millions of Americans protect their life, health and wealth with a commitment to meet them wherever they are — in person, over the phone and online. Integrity's cutting-edge technology helps streamline the insurance and financial planning experience for all stakeholders. In addition, Integrity develops products with carrier partners and markets them through its distribution network of agencies, brokerages and RIAs throughout the nation. Integrity's nearly 5,500 employees work with more than 420,000 agents and advisors who serve over 10 million clients annually. In 2021, Integrity helped carriers place more than $7 billion in new sales and oversaw more than $20 billion of assets under management and advisement through its RIA and broker-dealer platforms.

Spotlight

BM Customer Insight for Insurance helps you leverage dynamic customer segmentation to create a more personalized policyholder experience based on financial and life events. This demo shows how to view and share actionable insights from easy-to-use, customizable dashboards to segment policyholders based on behavior, determine churn propensity and choose retention or replacement actions and analyze life events across the span of the customer relationship.

Spotlight

BM Customer Insight for Insurance helps you leverage dynamic customer segmentation to create a more personalized policyholder experience based on financial and life events. This demo shows how to view and share actionable insights from easy-to-use, customizable dashboards to segment policyholders based on behavior, determine churn propensity and choose retention or replacement actions and analyze life events across the span of the customer relationship.

Related News

RISK MANAGEMENT

Surefire Cyber Introduces Incident Response Company to Aid the Cyber Insurance Industry

Surefire Cyber | June 01, 2022

Surefire Cyber, a new incident response company, debuted today to assist cyber insurers, brokers, legal firms, and the enterprises they support in better managing cyber events like ransomware, email hacking, and other cybercrimes. The firm received a $10 million Series A round of funding from Forgepoint Capital. Surefire Cyber's goal is to work with our clients and partners to swiftly manage a cyber incident and then bring forward capabilities to help them become more cyber resilient. Our delivery of end-to-end digital forensics and incident response capabilities is built on a tech-enabled framework and delivered through a platform that aligns and connects an organization's executives, technical team, insurance carrier, and legal counsel." Billy Gouveia, the CEO and Founder of Surefire Cyber. Surefire Cyber is committed to being great partners to carriers, brokers, Breach Coaches®, and the clients they work together to support. We are pleased to welcome them as new contributors to the cyber insurance ecosystem who offer deep experience and a valuable perspective." Mark Greisiger, President and Founder of NetDiligence®. Based on two long-term trends: the rising cost of cyber incidents and the growing adoption of cyber insurance, industry veterans found Surefire Cyber as a purpose-built response firm that leverages a proven team and a tech-enabled platform to improve transparency, improve decision making, minimize business interruption, and guide organizations from recovery to long-term resilience. Forgepoint Capital, the world's most active early-stage cybersecurity venture capital firm, is backing Surefire Cyber. Before he started Surefire Cyber, Gouveia worked as an Entrepreneur-in-Residence at Forgepoint. There, he helped develop the company's strategy, business model, technology, and team, as well as build important partnerships with companies across the firm's portfolio.

Read More

INSURANCE TECHNOLOGY

EY and FINEOS Partnered to Promote Smart Digital Transformation for Insurers

EY | May 26, 2022

FINEOS and Ernst & Young Business Consultants have announced an alliance (EY Ireland). The Alliance will support intelligent digital transformation for insurers. Furthermore, it will positively impact the entire employee benefits value chain, from insurers to employers to employees, while also achieving tangible operational efficiencies. The Alliance has also been expanded to include the United States, with further global expansion planned. FINEOS is a global market leader in core life, accident, and health insurance systems. EY teams have worked with FINEOS on software implementations with different life, accident, and health insurance carriers. The goal of assisting these companies is to realize their transformation journeys through multiple technologies and services ranging from consulting to on-site execution and integration. Many insurance companies currently use manual processes, which create a slew of inefficiencies. As a result, carriers are increasingly required to influence digital and analytical solutions while redesigning customer operations and service models. The Alliance provides clients with the technology they need to achieve their transformation objectives. It will also assist EY teams in developing services around the already successful teams deploying the FINEOS Platform. FINEOS has also developed a leading cloud-based end-to-end software-as-a-service (SaaS) core product suite covering the insurance lifecycle, including rating and underwriting, quotes, claims, absence, billing, and policy administration. Through FINEOS Insight, FINEOS Engage, and EY Nexus, FINEOS and EY teams can bring artificial intelligence (AI) and machine learning capabilities and data analytics software. The industry knowledge and global reach of the EY organization and FINEOS will assist clients worldwide in accelerating smart digital transformation. Finally, this Alliance will aid in the acceleration of innovation and digitization in the employee benefits market. The collaboration between EY and FINEOS will assist clients in maximizing the value of their digital transformation efforts. Insurance carriers are likely to increase their success rate and total value as they build future-ready organizations by combining the FINEOS Platform with the consulting capabilities of EY teams." Matthias Loh, the EY Global FINEOS Alliance Sponsor. As the global life, accident, and health insurance market continues to evolve at a rapid pace, this new alliance with the EY organization brings additional business and technology experience, as well as systems integration capabilities, to assist clients in achieving their goals. As FINEOS continues to invest proactively in new products and growth plans, we want to ensure that our clients access the market support and system integration knowledge required for their transformation plans. With FINEOS New Business & Underwriting, FINEOS Claims, and FINEOS Absence implementations underway, this announcement reinforces our commitment to forging strategic alliances to better support our clients' digital transformation efforts." FINEOS CEO and Founder Michael Kelly.

Read More

INSURANCE TECHNOLOGY

Imperial PFS Introduces Quivit, a Gamechanger for the Insurance Industry

Imperial PFS | October 04, 2021

Imperial PFS Introduces Quivit, a Gamechanger for the Insurance Industry. Called a "gamechanger" by its first users, Quivit is the first insurance-specific product to merge document signing, storage and an integrated payment processing system – allowing for both paid-in-full and financed transactions. The result is a dramatically streamlined workflow, transforming a complex, high-touch process into an efficient, digitally-driven sales closer. Until Quivit, there was no way for insurance agents to quickly prepare insurance quotes and applications for their insureds within the same secure digital space. We listened to our clients, recognized a gap, and found a way to provide a solution, We worked with agents to develop a digital product that merges selling, managing account communication, and collecting payments for policies in a single step, without the need for additional software from other providers. Now, work that once took days takes only minutes – which means Quivit will help expedite sales and improve payment collection in a single step. - Herb Chirico, IPFS's Chief Marketing Officer and Senior VP. User-friendly and intuitive, Quivit makes it easy to send premium finance quotes, track progress, understand the status, send alerts, obtain signatures, collect payments and close the sale. Quivit also integrates seamlessly with existing systems and processes, which means it doesn't require replacing your current technology or agency management system (AMS). Quivit is going to revolutionize the insurance industry, Quivit shortens the sales cycle, so agents can close sales far faster. It's the key to unlocking untapped revenue opportunities. - Frank Friedman, IPFS's CEO and President. Even its name has special significance, as Quivit combines the words 'quick,' 'pivot' and 'IT.' Quivit is available now to select IPFS Clients and will be widely-released later this fall. About Imperial PFS: Imperial PFS uses state-of-the-art technology and legendary Customer service to lead the way in the premium finance and payments industry. IPFS offers flexible lending with multiple benefits for our agency partners and insureds. With more than 500 Associates at 30 locations across the United States and Canada, we bring the strength of an international company reinforced by local relationships and service. Visit us on LinkedIn. About Herb Chirico: Herb is responsible for overseeing Marketing as Chief Marketing Officer, as well as Credit, Insurance Company Management, Product Management and Project Management. Herb joined IPFS in 2001. His prior positions with IPFS have included Branch Manager in Buffalo, New York, SVP of Operations and Credit and SVP of National Sales. Before joining IPFS, he held management positions at Transamerica Insurance Finance Corp. and HSBC. Herb has a BS from Boston University. About Frank Friedman: Frank joined Imperial PFS in 2019 and serves as the CEO and President. His extensive financial experience comes from more than 40 years at Deloitte where he served as Interim CEO, COO, CFO, and, most recently, Global Chief Operations Officer. Frank has a BS degree in Accounting and Business Administration from the University of Kansas.

Read More