Core Insurance, Risk Management
GlobeNewswire | August 31, 2023
Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced that it has acquired Benefit Design Group LLC, a retail agency specializing in health, life and retirement solutions. Terms of the deal were not disclosed.
Based in Portland, Oregon and led by Joel Biernat and Dennis Warneke, Benefit Design Group (BDG) is an independent insurance agency specializing in health insurance solutions for businesses, individuals and seniors. With a client base across Oregon and Washington, the firm serves businesses seeking tailored employee benefits programs across a wide range of industries, including aged care, education, hospitality and manufacturing, as well as individuals and seniors.
“As a national specialist in the increasingly complex world of employee benefits, we’re always seeking new partners who can add to both our geographic presence and expertise,” said John Greenbaum, National Employee Benefits Practice Leader, Risk Strategies. “It’s why we’re excited to bring Joel, Dennis and the BDG organization into the Risk Strategies family.”
BDG offers a broad array of products to its individual and group insurance clients including medical, dental, life insurance, Medicare and Medicare Advantage plans, among others. BDG as constituted today, was formed in 2017 when Biernat merged the firm with Warneke’s company, The Warneke Group, LLC. That firm primarily specialized in providing services and products for employers offering group employee benefits to their employees.
“We’re extremely excited to join Risk Strategies,” said Biernat, President, Benefit Design Group. “We know that being part of a true specialty brokerage with national scale will bring a myriad of benefits to our people, business and especially our clients.”
The purchase of BDG adds to Risk Strategies’ presence in the Pacific Northwest. It builds upon the firm’s previous acquisition of the Fournier Group, a full-service commercial and personal lines retail insurance agency.
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. RiskStrategies.com.
Core Insurance, Insurance Technology
PR Newswire | August 25, 2023
Careington Benefit Solutions, affiliate of Careington International Corporation, announces the expansion of its service offerings to now include customizable commercial lines for property and casualty insurance. Backed by more than 40 years of industry experience, Careington Benefit Solutions is a single-source solution for insurance, administrative and marketing solutions.
As a nationally licensed insurance agency and Third Party Administrator, Careington Benefit Solutions wanted to broaden its existing suite of insurance products to include business and commercial coverages including liability, business property, workers compensation, commercial automobile, cyber security and more. This new program is designed to provide businesses with a custom, industry-specific risk management solution. With a wide variety of carriers and products to choose from, Careington Benefit Solutions' High Performance Sales Unit consists of nationally licensed Life & Health and Property & Casualty agents that can help clients shop coverage options, get cost-free quotes and enroll in a commercial line insurance policy that is tailored to the specific needs of small employers.
"We are proud to expand our property and casualty coverage options to include commercial lines," said Chuck Misasi, Executive Vice President of Direct Marketing and Customer Engagement at Careington Benefit Solutions. "After successfully providing protection to individuals and their families with our personal lines coverage options, we recognized that we could bring the same white-glove approach to businesses to address their unique financial risks. With this new program, we're offering customized risk management solutions to businesses across a wide variety of industries."
Beyond commercial lines insurance, Careington Benefit Solutions offers a robust suite of insurance products, as well as 150+ money-saving health, wellness, lifestyle and virtual health products. Careington Benefit Solutions partners with industry-leading carriers nationwide to offer a range of innovative, competitive solutions. As a TPA, Careington Benefit Solutions is a single-source solution that expertly manages licensed enrollment, billing, claims processing, customer service, policy fulfillment, custom product development and more. Careington Benefit Solutions serves employers of any size or industry, carriers, Medicare Advantage companies, TPAs, associations, unions, affinity groups, municipalities, school districts, colleges and universities, dental support organizations and brokers and benefits consultants.
"Careington Benefit Solutions is dedicated to delivering competitive insurance product options and full-scale administrative services to our diverse clients nationally," said Careington Benefit Solutions Chief Executive Officer Stewart Sweda. "We are always looking to enhance our product and service offerings, and we are pleased to now be able to connect small employers with the coverage they need to protect their businesses against potential financial damages."
About Careington Benefit Solutions
Careington Benefit Solutions, an affiliate of Careington International Corporation, is a nationally licensed insurance agency and Third Party Administrator that provides a range of competitive insurance product options and comprehensive suite of administration services, including claims administration, individual and group billing, premium collection, enrollment, policy fulfillment, custom product manufacturing and more to support our many diverse clients, including large insurance companies. Our flexibility in the level of administrative support we provide allows us to customize any client solution as an a-la-carte scenario or a complete turnkey option as a single-source product, service and administrative solution. Careington Benefit Solutions includes a direct-to-consumer brand, QuoteSavant, created to help consumers navigate the complex process of buying insurance. Our licensed agents shop top plans and provide quotes to help individuals find coverage to fit their budgets. To learn more about QuoteSavant's personalized policy shopping process, visit www.quotesavant.com.
Risk Management, Insurance Technology
PRnewswire | June 27, 2023
Expert.ai, the industry leader in AI-powered language solutions, today announced availability of the expert.ai Platform for Insurance. The expert.ai Platform for Insurance powers underwriting and claims solutions so that insurers can use natural language processing to eliminate documents from review cycles, extract needed data and prioritize which submission or claims need an expedited review or to be assigned to a senior adjuster based on complexity.
The expert.ai Platform for Insurance provides insurance teams with a way to automate the repetitive tasks associated with document reviews, extraction and assessments, freeing up time to focus on de-risking underwriting decisions, determining coverage and conducting preliminary claims investigations. Key platform capabilities include:
Out-of-the-box data extraction for common data fields
Urgency, severity and intent routing for claims and submissions packages
Extraction of key exposure factors, e.g., coverage exclusions, limitations, pre-existing conditions, etc.
Accurate summarization for human review, e.g., pre-assignment of risk grades for human validation/evaluation from property risk engineers
Data redaction for GDPR and PII (personally identifiable information), etc.
Record type categorization and elimination of records from review cycles
A customizable insurance-trained language model
From submissions and claims management through policy comparison and risk engineering, the expert.ai Platform for Insurance supports even the most intricate, complex and language-intensive uses cases.
"At expert.ai, we've deployed insurance solutions for Global 100 providers across the range of workflows from claims automation and risk engineering through policy reviews and submissions intake. Artificial intelligence, in fact, offers insurers tremendous potential to transform their operations, improve combined ratios and establish a lasting competitive advantage," said Walt Mayo, expert.ai CEO. "The expert.ai Platform for Insurance provides AI-based NLP solutions to reduce time to production and scale in the future. From customizable language models to insurance use case trained models, we help insurers deliver real value across their organizations, with high levels of accuracy, significant time savings, tangible capacity gains and better customer engagement."
Expert.ai will be showcasing its Platform for Insurance during the Reuters "The Future of Insurance USA 2023" event in Chicago on June 27-28.
Expert.ai (EXAI:IM) is a leading company in AI-based natural language software. Organizations in insurance, banking and finance, publishing, media and defense all rely on expert.ai to turn language into data, analyze and understand complex documents, accelerate intelligent process automation and improve decision making. Expert.ai's purpose-built natural language platform pairs simple and powerful tools with a proven hybrid AI approach that combines symbolic and machine learning to solve real-world problems and enhance business operations at speed and scale. With offices in Europe and North America, expert.ai serves global businesses such as AXA XL, Zurich Insurance Group, Generali, The Associated Press, Bloomberg INDG, BNP Paribas, Rabobank, Gannett and EBSCO.