Chartered Insurance Institute publishes ethical culture guide for SMEs

Chartered Insurance Institute | September 06, 2019

“Every firm has a culture, whether you employ 10 or 10,000 people.” Those were the words of Sian Fisher (pictured), chief executive of the Chartered Insurance Institute (CII), when the professional body released a new resource called Building trust through ethical culture: A guide for SME firms. The 30-page document, which is available on the CII website, is designed to serve as a practical framework for small- and medium-sized enterprises when it comes to promoting ethical culture and how it relates to client and public trust. It was written by insurance and ethics expert Duncan Minty, who is a Chartered Insurance Practitioner. “This guide sets out the steps that small to medium firms can take to understand and influence the culture at their firms, so that as a result, trust in their firm is legitimately earned from their employees and clients, and will be more sustainable,” said Fisher.

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This position paper addresses key issues pertaining to the problem of illegal substance abuse in today’s society. The paper presents background information on the drug problem and ways in which the government has sought to fix it. The costs of drug abuse are astounding, but the criminal justice approach focusing on interdiction and incarceration has been unsatisfactory. ACP-ASIM believes that the time is right to enlist a medical model to treat this crisis.

Spotlight

This position paper addresses key issues pertaining to the problem of illegal substance abuse in today’s society. The paper presents background information on the drug problem and ways in which the government has sought to fix it. The costs of drug abuse are astounding, but the criminal justice approach focusing on interdiction and incarceration has been unsatisfactory. ACP-ASIM believes that the time is right to enlist a medical model to treat this crisis.

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Azentio Software wins the InsureTek Core Transformation Leader of the Year Award 2022

Azentio Software | February 17, 2022

Azentio Software ("Azentio"), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, announced that it has won the InsureTek Core Transformation Leader of the Year Award 2022. The award was presented during the InsureTek Middle East 2022 International Conference and Golden Shield Excellence Awards ceremony, at the Address Dubai Marina, UAE, on February 9 &10. InsureTek's Awards recognise leading companies from within the sector that are helping the insurance industry evolve. The InsureTek Core Transformation Leader of the Year category is created to recognise technology innovations, digital solutions, rich product functionality, customer value, lines of business supported, implementation methodology, pricing, and support services. Across all these facets, Azentio Software has been especially deserving. "We are very pleased to see Azentio Software win the InsureTek Core Transformation Leader of the Year award. This incredible industry validation reaffirms the trust our clients have in our software and is therefore a powerful driver to keep on investing in our Insurance platform. Further, this recognition reflects our client-centric approach and commitment to bring the best of emerging technologies which enable our clients to be future-ready," - Vipul Sud, Head – Insurance at Azentio Software. Azentio's Insurance Suite is a fully developed, highly configurable, and multi-line administration suite, with configurable ratings and business rules engines that can help meet the industry's most stringent requirements. It enhances the speed for standard transactions by fast-tracking them with automation and straight-through processing. More than 250 leading insurers across the globe have adopted Azentio Insurance Suite to transform their businesses using innovative technology for improved operating models, better premium growth, customer retention and profits. About Azentio Software Azentio Software provides mission critical, vertical-specific software products for clients in banking, financial services and insurance verticals including key products such as Kastle™ (universal banking platform), iMAL™ (Islamic core banking platform), Amlock™ (compliance software suite), Premia™ Astra (core insurance software), Orion™ (enterprise resource planning software) and MFund Plus™ (asset and wealth management platform). Azentio has over 800 clients in more than 60 countries with a team of over 2,400 employees across offices in 9 countries globally.

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CoreLogic and QOMPLX Join Forces to Expand Insurance Data and Model Offering

CoreLogic | August 05, 2021

QOMPLX is proud to announce a new relationship with CoreLogic, an industry-leading provider of property intelligence and data analytics, providing industry access to CoreLogic’s Oasis LMF- enabled models via the QOMPLX:OS marketplace. Q:HELM will include access to CoreLogic’s next level contiguous US Earthquake Model and Japan Earthquake Model, which provide insight into the damage that can occur following an earthquake and how aftershocks can amplify the effects months after an event. Similar to QOMPLX’s other collaborations, the relationship with CoreLogic expands the geographic range and catastrophe offerings of Q:HELM. “CoreLogic is seeking to help the market take advantage of the additional flexibility and choice provided by placing its catastrophe models onto the Oasis Loss Modeling Framework. We are delighted to be providing our models as part of QOMPLX offering to further increase that opportunity,” said William Forde, Senior Director, Product Management, Insurance and Spatial Solutions at CoreLogic. Broadly, this relationship will further expand QOMPLX’s offering of cutting-edge insurance data, services, and models to the insurance and reinsurance industry. “We provide a high-performing ecosystem of diverse offerings inside Q:HELM, and the CoreLogic models will be a major addition to the platform,” said Steve Smith, QOMPLX Director, Insurance Product & Modeling. “QOMPLX has an important role to play in bringing together more complete information and insights needed for industry to address broader weather and climate risk challenges on an ongoing basis” said Jason Crabtree, CEO of QOMPLX. The QOMPLX:OS marketplace provides customers access to services that can be purchased on-demand and offers significant advantages to provide more informed insurance underwriting decisions and better risk selection. Key features include: One-Stop Shop – A single platform with a common user interface Mix and Match – Choose offerings based on your specific needs Multiple Contract Options – Customers can pay as you go Diverse Suite of Offerings – Variety in models, data and services This robust offering for insurers and reinsurers is emblematic of QOMPLX’s unique role in risk analytics. We provide solutions to mitigate major long-term risks to capital and climate that are foundational to our modern global economy. The underlying capabilities of the QOMPLX core data factory fuel our cloud insurance risk analytics offering with the ability to rapidly ingest, transform and contextualize data at scale, much faster than traditionally seen across the industry. About CoreLogic CoreLogic, a leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy, and protect their homes.

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Encova Insurance Expands Relationship with Bold Penguin to Improve Distribution Capabilities

Encova Insurance, Bold Penguin | January 07, 2021

Bold Penguin, a rapidly growing insurance technology supplier, reports today that it has started revealing a digital commercial insurance solution as a team with Encova Insurance. Encova joins other territorial and public key insurance organizations to offer a quoting experience for entrepreneurs' approaches for its autonomous agents. As the small business space across the United States keeps on moving to digital, the requirement for precise, proficient admittance to commercial insurance has expanded. Small businesses and insurance agents the same profit by extended digital quoting capabilities that are controlled by Bold Penguin's technology. "Independent agents and businesses alike need a solution for quick, easy to use, accurate software when it comes to quoting small commercial opportunities. Encova has proven to be one of the more advanced organizations and we are happy to work together," said Marc DeLeonibus, Co-founder of Bold Penguin. "Our partnership with Encova is the latest example of how large insurance companies are being nimble and meeting their agency force in a more digital way." Encova and Bold Penguin declared their association in 2018. From that point forward, the two associations have been working intently on picking the correct enterprises, items, and key agents to move toward small commercial. The recently declared work smoothes out the rate, statement and tie measure and permits select Encova organizations to get to their items. "We're committed to creating the user experience our small business customers and our agents expect," Encova Executive Vice President, Commercial Lines and Life, Grady Campbell said. "Partnering with Bold Penguin allows us to execute this vision quickly and efficiently, allowing more small businesses to access the coverage they need to grow their businesses." Bold Penguin proceeds with its development by offering admittance to its Exchange to merchants, agents, insurtechs, and select key accomplices who work in taking care of small business insurance. Since the underlying dispatch of its foundation, Bold Penguin has helped handle in excess of 2 million statement begins. The organization has prepared applications across all significant lines of commercial inclusion, including overabundance and excess (E&S) and commercial auto by helping a developing rundown of dispersion and transporter accomplices. About Encova Insurance A super-regional carrier ranked in the top 20 mutual insurance companies in the United States, Encova includes more than 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.65 billion and assets in excess of $4.3 billion. The group markets insurance solutions through more than 2,000 independent agencies in the Midwest, Northeast and South. About Bold Penguin Bold Penguin is where technology enhances the human touch in commercial insurance. With a heavy focus on agents, Bold Penguin upgrades the user experience for businesses, creates an easy tool for agents, and offers a streamlined process of underwriting for carriers. Bold Penguin was founded in 2016 by a group of entrepreneurs who spent their early days working with Allstate, Nationwide and Progressive alongside regional carriers and established insurance agencies.

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