CORE INSURANCE, INSURANCE TECHNOLOGY
IMG | March 01, 2023
On February 28, 2023, International Medical Group (IMG), an insurance services provider, was awarded Forbes Advisor's Best of 2023 Awards in the category of travel insurance companies. Forbes Advisor has recognized it for the second year in a row.
IMG's iTravelInsured Travel LX plan has particularly attracted the attention of Forbes Advisor. It is an excellent travel insurance solution for dog owners and a popular insurance plan of IMG. It provides insurance coverage for additional kennel fees, which a pet needs on a trip delay for an extended stay at a commercial kennel. In addition, it offers trip cancellation and interruption benefits and is applicable only when the service animal or pet suffers an injury, sickness or death during the trip.
Forbes Advisor is a trusted insights provider for finance and businesses through news, reviews and advice, assisting consumers with smart decisions and perfect products for their choice without effort. Forbes Advisor's awards recognize the company after in-depth analysis for being an impartial consumer champion. Its experienced reporters and editors have a keen eye on product features and consumer experience in the industry. With years of dedication, people expect authentic financial news and guidance from it. The recognition from Forbes Advisor represents that the brand has strong support and establishment in the business and consumer finance community.
IMG's Director of International Sales – Travel, Grant Hayes said, "IMG is honored to be recognized once again as one of the best travel insurance companies in the market." He added, "Our iTravelInsured Travel Series is a market-leading line of travel protection plans designed to meet the varying needs of travelers while they're away from home."
(Source – Cision PR Newswire)
IMG's Chief Commercial Officer, Scott Ackerman said, "At IMG, we understand that pets are like family. Our pet-related benefits set us apart from the competition and are valued greatly by our customers." He added, "Being recognized as a travel insurance company that is great for dog owners is truly a testament to the many unique benefits we offer our customers through our travel protection plans."
(Source – Cision PR Newswire)
Headquartered in Indianapolis, Indiana, IMG, an insurance company, offers solutions for expatriates, international students, missions organizations, marine crews, corporate group insurance, cost containment, stop loss insurance, medical management, assistance services, medical evacuation, travel insurance, and international medical insurance. It has provided insurance benefits and assistance services worldwide since 1990. Its well-known services are travel and health safety solutions, with insurance programs like international private medical insurance, trip medical insurance, and services like enterprise and insurance administrative services, 24/7 emergency medical, security, and travel assistance.
CORE INSURANCE,INSURANCE TECHNOLOGY
Coterie Insurance and Vertaforce | January 11, 2023
On January 10, 2023, Coterie Insurance officially launched Vertafore's award-winning Commercial SubmissionsTM platform, which handles business owner’s policies (BOP) and general liability policies. Coterie, the platform's first MGA, will make it easier for independent brokers to bind and quote small commercial insurance.
The time-consuming process of quoting small business insurance lines has been made simpler using Commercial Submissions by independent agencies since it became available last spring. The platform's automated data entry tasks and connectivity with carriers have produced significant results for independent agents, enabling them to offer their business clients a better experience.
Coterie's mission and goals, which focus on revitalizing the business through digital tools, are entirely consistent with those of Commercial Submissions. Using Coterie, agencies will have access to Commercial Submissions and be open to a wider variety of specialized commercial alternatives.
Becky Monfre, Coterie's Director of Digital Partnerships, said, "We are excited to engage with Vertafore's vast network of agents on the Commercial Submissions platform and offer our BOP and general liability quotes to their agents. She further added, "Coterie is uniquely positioned on the platform to offer bindable quotes with minimal questions, as a fully digitally underwritten insurance product. This puts a quote in the agent's hand to present to their clients within minutes, offering unique products and coverage in all 50 states."
(Source: Cision PRnewswire)
"We are thrilled to welcome Coterie Insurance to Commercial Submissions and to further increase connectivity across the entire insurance distribution channel. Coterie's addition expands access to their policy solutions and adds to the platform's momentum, providing participating agents with another communicative, world-class partner who can help them quickly match customers with the product options that are right for them," said James Thom, Chief Product Officer at Vertafore.
About Coterie Insurance
Coterie Insurance helps in getting quotes and buying insurance. Small businesses can get the services they need through their website, through an independent agent, or with help from the company's support team. The company, which started operations in 2018, has its main office in Cincinnati (Ohio).
Founded in 1969, Vertafore is modernizing and streamlining the insurance life cycle and helping its customers prioritize what's truly important to them. As a result, independent agencies, MGAs, and carriers can increase efficiency, productivity, and profitability with the help of Vertafore's solutions. It provides end-to-end connectivity across the distribution channel, enhances the client and agent experience, unlocks data's power, and streamlines essential workflows.
CORE INSURANCE, RISK MANAGEMENT
Idelic | January 19, 2023
Idelic Inc. recently announced the launch of Idelic Insurance Agency, LLC, a technology-driven managing general agent (MGA) aimed at providing commercial fleets with tailored insurance coverage. The insurance pricing will reflect the fleets’ risk improvement by using the Idelic Program, a comprehensive approach to improving driver safety and reducing crashes.
Idelic Insurance Agency also aims to provide a modern approach to improving insurance outcomes by allowing fleets to use technology and processes to reduce losses. The insurance agency will price renewals based on the fleets’ successful adoption and results.
The Idelic Program consists of two major components: Safety Suite® and Driver Safety Playbook. Safety Suite® is the best driver performance management platform in the trucking industry. It collects driver risk data and uses machine learning algorithms to identify high-risk drivers. Meanwhile, the Driver Safety Playbook is an excellent guide to engaging drivers, providing coaching and step-by-step professional development plans made by working with insurers and trucking's safest fleets.
On average, fleets utilizing Idelic Program can witness a 20% decrease in preventable crashes in the first year.
"Commercial auto fleet insurance is inherently complex with a multitude of nuances from fleet to fleet. The process of evaluating risks has traditionally relied on underwriter experience and judgment, but insurers are increasingly looking for a more data-driven way to evaluate risks. Idelic Insurance Agency will do just that," stated Michael Gramm, Senior Vice President of Insurance at Idelic Insurance Agency. "By working closely with fleets that choose to use the Idelic Program, we can better leverage critical driver behavior data to quote policies that reflect their reduced crash risk," he added.
(Source – Business Wire)
The Idelic Program and Idelic Insurance Agency are timely solutions to help fleets combat rising insurance rates and reduce losses significantly. However, fleet insurance costs and availability are once again among the Top 10 motor carrier executive concerns listed by American Transportation Research Institute (ATRI).
About Idelic Inc.
Pittsburgh-based Idelic is a software provider dedicated to delivering the best insurance outcomes for fleets. The Idelic Program combines process and technology in a tool designed for and proven successful among fleets and insurers alike. Additionally, the program uses predictive analytics to identify risky drivers and professional development plans to help change behavior patterns and provide insurers with evidence of long-term improvements in crash reduction to negotiate lower rates. The company's experienced technical and industry experts understand the trucking and insurance industries' needs and provide tailored solutions to clients' real problems.