Business Wire | October 17, 2023
Hourly.io, a fast-growing workers’ compensation and payroll startup, has selected Origami Risk’s multi-tenant Software-as-a-Service (SaaS) P/C core solution to bring critical automation to its breakthrough insurance platform for small and mid-sized businesses with hourly and mobile workers.
Hourly will use Origami’s API to instantly quote policies. The platform integrates rates and rules from NCCI and other bureaus with Hourly’s underwriting models. Hourly combines payroll with time and attendance data to determine workers’ compensation premiums with to-the-penny accuracy in real time. The rating information will be instantly applied to applications submitted by insurance agents and brokers through Hourly’s instant quote portal.
As we continue our rapid growth across the United States, choosing and deploying the best available technology has enabled us to drive down costs and streamline the rate-to-bind process for small and mid-sized employers, said Tom Sagi, Co-Founder and CEO, Hourly. Origami’s solution seamlessly integrates with our platform so we can scale while maintaining our speed, efficiency and accuracy.
“Our automated solution aligns perfectly with Hourly’s objectives and the needs of its distribution network and clients,” said Christopher Bennett, Chief Strategy Officer, Core Solutions division at Origami Risk. “This proprietary capability is among several innovative solution sets we’ve developed to help carriers, pools, program administrators and other insurance providers drive efficiencies across critical functions, meet customer needs and improve overall performance.”
Origami Risk offers a full suite of end-to-end, integrated SaaS solutions for policy, rating, billing, loss control and claims administration, reporting and analytics, along with a comprehensive digital engagement experience for all internal and external stakeholders.
Established in 2018, Hourly offers workers’ comp insurance and an integrated platform that connects workers’ comp, time tracking, and payroll in real time—an innovation that ensures premiums are calculated with unprecedented precision. Hourly is first of its kind in the industry to bridge this gap seamlessly with a mobile-first platform.
Headquartered in Palo Alto, California, Hourly.io is an insurtech startup offering full-service payroll and workers' comp insurance for small and medium businesses with hourly workers. Powered by real-time data, Hourly's platform ensures running payroll is as quick as pressing a button and that you get accurate workers' comp premiums down to the penny. For more information, visit www.hourly.io.
About Origami Risk – Core Solutions Division
Origami Risk provides integrated SaaS solutions that simplify insurance, risk, and safety for insurers, managing general agents (MGAs), program administrators, third party claims administrators (TPAs), risk pools, brokers and more. Origami Risk delivers its highly configurable and completely scalable integrated insurance core system, risk management and safety solutions from a secure, multi-tenant platform accessible via web browser and mobile app. Visit origamirisk.com or contact Origami at email@example.com.
GlobeNewswire | September 26, 2023
Applied Systems® today announced that Fisher Brown Bottrell Insurance, Inc. has selected Applied Pay to make their business units more efficient across all workflows and simplify the payment process for their customers. The agency is taking advantage of Applied Pay’s integration with Applied Epic to automate payment collection, processing, and reconciliation, while providing an effortless, modern checkout experience that internet-savvy clients have come to expect.
“We’ve used other payment solutions in the past but didn’t get the buy-in we expected because the process was too cumbersome for our customers,” said Tiffany Johnston, Senior Vice President, Technology Operations Manager, Fisher Brown Bottrell Insurance, Inc. “We’ve been long-time customers of Applied, so migrating to Applied Pay was the obvious choice. Not only do we get that ease of client payment through a link, but our accounting staff can streamline their back-end processes, a benefit that really made Applied Pay stand out.”
Applied Pay is a cloud-based electronic payments hub that enables agents and brokers to provide their clients with a secure, online way to pay new and recurring premiums. Directly integrated into Applied Epic®, Applied CSR24® and EZLynx Client Center, Applied Pay provides intuitive, branded checkout pages where policyholders can pay premiums via credit card or ACH. It automatically handles payment authorization and tokenizes sensitive information to increase security and ensure compliance. The solution also reconciles receivables at the account level, reducing manual workflows and improving the accuracy and timeliness needed to reconcile payments.
“In today’s e-commerce climate, consumers can make a purchase with just the click of a button, and paying for an insurance premium shouldn’t be any different,” said Chase Petrey, president of Applied Pay, Applied Systems. “It’s always a win-win when one solution can simplify processes for both customers and staff at once, something Applied Pay will allow Fisher Brown Bottrell Insurance, Inc. to do by offering their customers an intuitive payment hub that models the modern online shopping cart experience while providing a speedy and secure reconciliation process for their accounting staff.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.
PR Newswire | October 03, 2023
NSM Insurance Group, a global specialty insurance provider with more than $1.6B in premium across 25+ niche insurance programs, today announced the completion of its acquisition of Envisage International. Based in Neptune Beach, Fla., Envisage is a leading provider of global health and travel insurance plans for international students and cultural exchange participants around the world.
"The travel insurance market is booming and will continue to grow at a rapid pace — with the industry predicted to reach $41B by 2027. We plan to seize this market opportunity and become a dominant player in the space," said Bill McKernan, President of NSM Insurance Group. "Envisage is a market leader in international education and cultural exchange insurance with a talented team, strong customer base, established revenue relationships and cutting-edge technology infrastructure. They are an enterprising addition to our portfolio as we look to build our footprint in the international health and travel insurance space."
Envisage offers a wide range of international health and travel medical insurance products through its two brands, International Student Insurance (ISI) and Envisage Global Insurance (EGI). ISI serves colleges, universities, ESL programs, study abroad programs, students, teachers and scholars with A+ rated plans and best-in-class resources. EGI is the leading provider of group insurance plans to organizations in the J1 cultural exchange and global youth travel market, offering unparalleled service and custom-built technology to its clients around the world.
"We're absolutely thrilled to join forces with NSM to help us continue to grow and scale the business," said Keith Clausen, President of Envisage International. "Over the last two decades, our dedicated and talented team has helped us grow into the force we are today, and we look forward to extending that growth with NSM. NSM has the prowess and proven track record to help ISI and EGI grow by expanding our distribution channels, further enhancing our technology platforms and expanding our global market reach."
Over the past 33 years, NSM has developed a winning formula for building the industry's most successful and sustainable insurance programs, consistently outperforming competitors and driving industry-leading growth and profitability over the last four years. This latest acquisition complements NSM's robust portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance — backed by the company's state-of-the-art resources, including IT, operations, marketing, HR and finance.
For more information about NSM or for investment opportunities, please visit nsminc.com.
About NSM Insurance Group
NSM Insurance Group is a global specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.6 billion in premium across 25+ specialty insurance programs and brands around the world focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; general contractors; medical stop loss and managed care; staffing; and workers' compensation. For more information on NSM, visit nsminc.com.
About Envisage International
Envisage International Corporation specializes in international health and travel insurance under its two key brands, International Student Insurance (ISI) and Envisage Global Insurance (EGI). With more than 20 years of experience, we take a consultative approach to helping our clients understand their insurance needs, creating customized solutions and providing support every step of the way. With offices in the United States, Mexico, China and Europe, Envisage is well placed to help organizations around the world with their international insurance needs. You can find more information about Envisage, ISI and EGI at envisageinternational.com