Cision PR Newswire | October 06, 2020
CGI and Fennia Mutual Insurance Company have expanded their strategic relationship. CGI will assume responsibility for a majority of Fennia's IT services under a contract valued at approximately 48 million euros. Under the new agreement, CGI will manage Fennia's application development and maintenance services and also provide support services for Fennia's end-users and operating environments. Fennia will benefit from CGI's strong combination of business consulting, systems integration and managed IT services to support its ambitious digital transformation journey. The agreement also includes the transition of about 60 Fennia IT employees to CGI.
MIB, Paperless Solutions Group | November 30, 2020
MIB, the life insurance industry's generally trusted and secure partner for data-driven services, declared that it has acquired Paperless Solutions Group (PSG), a computerized solutions supplier. The obtaining extends MIB's arrangement of solutions pointed toward making the application and endorsing processes snappier and more productive.
MIB's extended portfolio will incorporate PSG's items and apparatuses that mechanize and encourage the application process, including necessity gathering, signatures, policy conveyance, application accommodation and endorsing risk appraisal. These services incorporate deftly and effectively with transporter frameworks and supplement MIB's current items, which assist guarantors with evaluating risk during and after the endorsing process.
"PSG has a long history of service to the life & health space with a special eye to process improvement," said Jeff McCauley, President of PSG. "The team and I are very excited to join the MIB Group as we believe the alignment of our products, services and personnel will bring even more innovation to the industry."
PSG's tools can be used individually, or on a bundled basis, and are easily incorporated into a carrier's existing systems through robust API plug-in capabilities. "We believe PSG's platform could provide significant value to the life insurance industry by streamlining the underwriting process and providing an efficient and reliable portal to collect key data closer to the point of sale," said Winikoff. That value is of critical importance as the life insurance industry looks to new technologies to help them drive efficiencies.
About Paperless Solutions Group
PSG is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Our products and services provide unparalleled automation and integration for the insurance services industry. These innovative offerings conduct millions of transactions annually by enabling the presale, new business and underwriting, point of sale, and post-sale support.
MIB Group, Inc. is the life and health insurance industry's most trusted and secure partner for data-driven risk management and digital solutions that protect the financial integrity of its members and clients while addressing their evolving needs. Owned by its members who span the life insurance industry, MIB is uniquely positioned to provide data-driven solutions that address common industry challenges and enable clients to gain efficiencies, manage their risks, and grow profitably.
Insurance Business | August 04, 2020
Axon Underwriting Services has announced the acquisition of the renewal portfolio of Allianz Global Corporate & Specialty’s (AGCS) US contaminated and consumer products recall insurance business written through Allianz Global Risks US Insurance Company.We at Axon Crisis Management are excited to obtain the renewal rights for contaminated products and consumer products recall insurance policies previously underwritten by AGCS in the United States,” said Alex Pittignano, senior vice president at Axon. “Our staff of experienced recall underwriters is prepared to ensure a smooth renewal for clients during this transition.Axon expanded its suite of specialized insurance products in January with the addition of underwriting capabilities to offer contaminated product recall, consumer goods product recall, and restaurant foodborne illness and contamination insurance. All three will be underwritten on a non-admitted basis in partnership with the E&S and specialty companies of Nationwide. They will offer a capacity of $10 million.