CORE INSURANCE,WORKERS COMPENSATION
Inszone Insurance Services | January 06, 2023
Inszone Insurance Services, a leading national supplier of benefits, personal, and commercial lines insurance, has acquired Employers Choice Insurance Services Inc.
As part of the acquisition, Employers Choice Insurance Services staff and the current site in Oceanside, CA, will be retained by Inszone Insurance Services.
Employers Choice Insurance Services, founded in April 1998, has become the go-to firm for workers' compensation in Oceanside and the surrounding areas. Over the years, Employers Choice has successfully grown into one of California's premier commercial insurance agencies.
Employers Choice Insurance specializes in workers' compensation and also provides general liability, group health, commercial auto, and payroll insurance to its commercial clients.
Founded in 2002 in Rancho Cordova, CA, Inszone Insurance Services has grown into one of the big players in the insurance sector with offices in California, Arizona, Colorado, Utah, Nevada, Missouri, Texas and Illinois, serving all the 50 states. With a customer-centric mentality, it focuses on the relationship between agents and customers, ensuring customer satisfaction above all else. Inszone Insurance Services is a full-service insurance agency that can handle both personal and commercial insurance needs. With experienced and expert insurance professionals' insights, it simplifies shopping strategies for customers, making an otherwise complex process simple and streamlined.
Relation Insurance Services | November 17, 2022
Relation Insurance Services, Inc. (“Relation”) acquired the assets of Garrity Insurance (“Garrity”). The transaction went into effect on November 1, 2022; terms of the transaction were not disclosed.
“We joined Relation knowing that this partnership would enable us to better serve our customers, Partnering with Relation will allow us to tap into great resources of specialized expertise and a broad network of carrier relationships to truly offer our customers the very best coverage.”
-Bill Garrity, President of Garrity Insurance
Serving Massachusetts individuals and businesses for more than 100 years, Garrity has five office locations including Cambridge (headquarters,) Dedham, Marblehead, Salem and Belmont. Bill Garrity, President, will continue running the day-to-day operations at the Garrity offices as part of the Relation family of brands.
Tim Hall, Executive Vice President and Head of M&A for Relation said, By partnering with such a reputable and experienced company as Garrity, Relation has greatly enhanced its footprint in the East, Garrity brings tremendous experience in risk management solutions to Relation, and we are excited to welcome their team to ours.
About Relation’s Mergers & Acquisitions
Relation Insurance Services is actively seeking partnerships to expand its offerings, industry expertise, and geographic footprint. Relation offers a seat at the table to insurance entrepreneurs with equity ownership opportunities and a people-first approach that optimizes outcomes for employees and clients.
About Relation Insurance Services, Inc.
Relation Insurance Services is an insurance brokerage that offers superior risk management and benefits consulting services across the United States. It is ranked by Insurance Journal within the top 25 largest agencies in the country by revenue and has approximately 1,350 employees across more than 137 locations nationwide. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology.
Relm Insurance and CyberCube | November 22, 2022
Relm Insurance Ltd. (Relm), a market-leading specialty insurance carrier serving emerging industries, has inked a strategic partnership with renowned cyber risk analytics firm CyberCube to bolster its cyber underwriting business with advanced analytics, artificial intelligence and advanced risk modeling and assessment capabilities.
Launched in 2019 as the first commercial insurer licensed under the Bermuda Monetary Authority’s “Innovative Insurer General Business” (Class IIGB) regulatory framework, Relm partners with a global distribution network of brokers to develop insurance solutions for businesses and institutions operating at the forefront of emerging industries, with a focus on digital assets/Web3.0, cannabis and psychedelics.
Relm will leverage CyberCube’s sophisticated technology platforms, including Account Manager and Portfolio Manager, to enhance underwriting decision-making with industry-specific threat risk scores, financial loss frameworks, and real-time data and insights.
“This partnership with Relm demonstrates we are continuing to broaden our reach within other, non-traditional insurance markets. It will allow us to further demonstrate that our data accuracy, methodology and expert personnel can be utilized effectively to help create a profitable framework, regardless of industry. By licencing our products, Relm finds itself in a position for rapid success as it rolls out more in-depth risk selection protocols.”
-Sean Omar, CyberCube’s Sales Manager - Americas
Donavan Burgess, Relm Senior Vice President - Digital Assets, Cyber & Professional Lines, said: The advent of cryptocurrency and the utilization of blockchain technology have created a new set of cyber exposures. CyberCube’s mix of data, actionable insights, team of experts and footprint across the insurance value chain will provide us with the best springboard to grow our business over the coming years.
Portfolio Manager is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and underwriting teams. It also allows stress testing of portfolios of insurance risk so that loss drivers and areas of accumulation risk can be identified.
Account Manager is designed for risk carriers and is used by leading companies across the insurance ecosystem. It enables underwriters to make efficient, data-driven risk selection decisions.