CORE INSURANCE

Chubb Launches a New and Improved Package Product for Commercial Clients

Chubb | May 24, 2021

Chubb has launched a new insurance product, Benchmarq Package, for the lower middle market segment, setting the standard for package plans based on broader, more scalable coverage and performance. Benchmarq provides a more comprehensive base coverage offering of both property and liability, resulting in insurance protection that is more robust than typical industry package policies. Although Benchmarq's base product is best suited to smaller or less complex package risks, coverage can be scaled up by higher limits and additional endorsements to build completely customized solutions for clients' unique and evolving needs in an underserved middle market space.

"Benchmarq addresses a gap in the lower middle market that isn't traditionally filled by a standard plan or company owners insurance scheme," said Ben Rockwell, Division President, Chubb Middle Market. "Chubb's latest modernized package broadens our presence in the middle market and allows us to include the esteemed insurance programs and offerings for which we've been popular to an ever wider range of customers, at a time when exposures in this space begin to emerge." We assume that the scalability, quicker quoting, and simplified product architecture would help agents and brokers—all backed by Chubb's advanced underwriting experience, excellent risk engineering, and claims scalability.

Benchmarq's key product features provide comprehensive and flexible property and general liability coverages that protect customers against the risks they are most likely to face within the sectors in which they specialize, which include education, food, manufacturing, professional services, real estate, retail, technology, wholesale, and wineries, with plans to expand into additional industries.

Benchmarq is currently accessible via field underwriters in 29 states, with more to follow in the coming months. Benchmarq will be available in the Fall of 2021 on Chubb's award-winning digital platform, the Chubb Marketplace. The Chubb Marketplace is intended to modernize the placement of insurance policies.

About Chubb
Chubb is the largest publicly traded property and casualty insurance corporation in the world. Chubb, which has operations in 54 countries and territories, offers a wide range to clients commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance. We assess, assume, and manage risk with insight and discipline as an underwriting company. We service and pay claimants in a fair and timely manner. The company is also defined by its broad product and service offerings, extensive distribution capabilities, exceptional financial ability, and global-local operations. Chubb Limited, the parent company, is a member of the S&P 500 index and is listed on the New York Stock Exchange. Chubb has executive offices in Zurich, New York, London, and Paris, among many other places, and employs about 31,000 employees globally.

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Healthcare insurance companies have become super another thing to check into regarding eligibility for subsidies my understanding is that 29 sep 2016 if you want understand short-term health and how it works, the 2017 open enrollment period individual family coverage view plans get quotes Obamacare. Complete health insurance family floater plan how to find affordable in 2017 the simple dollarindividual & plans open enrollment for nerdwallet.

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CORE INSURANCE, LIFE INSURANCE

CL Life and Annuity Insurance Company Launches New MYGA Product to Market in Eight Weeks with FireLight®

CL Life & Annuity Insurance Company and Insurance Technologies | September 26, 2022

Insurance Technologies, LLC., a provider of sales and regulatory automation solutions for the life and annuities insurance industries, announces that CL Life and Annuity Insurance Company (“CL Life”), a provider of insurance products that offer policyholders stable growth, tax deferral and income planning, has launched FireLight® e-Application. CL Life implemented FireLight to get new products to market quickly and efficiently while providing a superior digital agent and customer experience. “We wanted a digital solution that enabled quick speed to market and supported our digital strategies to make submitting annuity business with CL Life an easy and friendly process for agents, FireLight is the industry leader in the annuity and life market and provides us with the features and integration capabilities to efficiently create modernized and accelerated sales processes.” -Gary Sorensen, Director of Marketing & Sales, CL Life CL Life now provides agents with an easy way to sell CL Life annuity products through FireLight’s dynamic wizard e-application experience. The streamlined experience CL Life created includes e-Signature built-in into the sales workflow. So, agents can collect required signatures quickly and submit complete in-good-order application packages direct to CL Life. At Insurance Technologies, we know the importance of having the resources and tools to get products to market quickly and efficiently, We are happy to be able to supply CL Life the innovation and team support to create new digital sales processes and experiences and introduce new products to the industry quickly,said Clint Moore, Chief Operating Officer, Insurance Technologies. CL Life implemented FireLight with its new MYGA product released this month. Insurance Technologies has been a great partner in meeting our business, integration, and workflow requirements, The team at Insurance Technologies was easy to work with and provided the consultative support we needed to meet our implementation goals. We were able to go from concept to implementation in just eight weeks, said Sorensen. By using the standardized templates and rules within FireLight, we were able to provide a quick and efficient implementation experience, meeting CL Life’s timeline of two months, We are proud of the partnership with CL Life and look forward to working with them as they offer new products and expand their digital journey,said Moore. About CL Life & Annuity Insurance Company Headquartered in Fort Worth, Texas, CL Life and Annuity Insurance Company seeks to provide insurance products specially designed for retirement assets that offer stable growth, tax deferral, and income planning. Its mission is to provide competitive products that meet the financial goals of policy holders, investing in assets for the purpose of growing policy holder premiums aimed at generating strong returns with the flexibility to secure their future. CL Life is an affiliate of Crestline Investors, Inc., an institutional investment management firm with approximately $15.4 billion in assets under management. About Insurance Technologies Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance industry. Offering a suite of integrated sales solutions, from pre-sale functions to quoting and illustrations through e-application and e-delivery to post-sale services, Insurance Technologies provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across the life and annuities insurance industries. The unique architecture and flexibility of its solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth and evolve with regulatory changes.

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CORE INSURANCE

Hourly.io Announces MGA Collaboration with Great American Insurance Group

Hourly.io | November 14, 2022

Hourly.io, a fast-growing workers' comp and payroll startup, announced today that it is expanding its reach through its collaboration with Cincinnati-based Great American Insurance Group. In this expanded collaboration, Hourly will serve as a Managing General Agent (MGA), leveraging its underwriting expertise and unique workers' compensation and payroll technology with Great American's well-established reputation. Established in 2018, Hourly offers a full-service platform that connects workers' comp, time tracking, and payroll in real-time for small and medium-sized business owners with hourly workers, an innovation that ensures premiums are calculated accurately using real-time data analytics. Hourly is the only company in the industry to bridge the gap between workers' comp, payroll, and time and attendance. "Collaborating with Great American Insurance Group was the clear choice when deciding how we will expand and develop new business in our next phase of growth, Great American is the perfect match for Hourly's next stage of evolution. We're excited to align with them and help small businesses gain better insights into their exact labor costs and provide them with better tools to manage those costs, including workers' comp premiums." -Hourly Co-founder and CEO Tom Sagi As a longstanding player in the insurance industry, Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. The company provides insurance products and services aimed primarily at the property and casualty insurance markets and focuses on specialty commercial products for businesses. The relationship will bring together Hourly's leading-edge technology and Great American's established credibility to better meet the needs of more clients. We're excited to build on our collaboration with Hourly, Both Hourly and Great American Insurance Group share the same commitment to helping these businesses protect their employees. We are impressed with the cutting-edge technology Hourly will bring to Great American and the team's first-rate underwriting abilities,said Richard Suter, Divisional President, Great American Alternative Markets. In October 2022, Hourly announced that it expanded its $27M Series A to $32M. The Series A was led by Glilot Capital Partners with participation from S Capital, Vintage Investment Partners, J-Ventures, Upshot Ventures, MS&AD, and Sienna VC. Teh Chen, Hourly's Chief Revenue Officer said, The workers' comp industry is ripe for innovation and disruption—and I'm excited to leverage technology to simplify workers' comp for employers, help prevent injuries for employees, and outperform the market. Our expanded collaboration with Great American are big steps in making insurance more accessible and affordable for businesses across the country. About Hourly.io Headquartered in Palo Alto, California, Hourly.io is an insurtech startup offering workers' comp insurance and full-service payroll 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. About Great American Insurance Group Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses. Great American Insurance Company has received an "A" (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of "A+" (Superior) affirmed December 3, 2021). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG's common stock is listed and traded on the New York Stock Exchange under the symbol AFG. Policies are underwritten by Great American Insurance Company, Great American Alliance Insurance Company, Great American Assurance Company and Great American Insurance Company of New York, authorized insurers in all 50 states and the DC., 301 E. Fourth St., Cincinnati, OH 45202.

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CORE INSURANCE

Bluevine Expands Insurance Partnerships to Provide Small Businesses with Tailored Insurance Solutions

Bluevine and Coalition | October 18, 2022

Bluevine, the leading provider of holistic banking solutions designed for small businesses, today announced the expansion of its small business insurance offerings to include Active Cyber Insurance offered by Coalition, one of the world's leading cyber insurance providers, in addition to its existing small business insurance provider, NEXT Insurance. With the addition of Coalition's cyber insurance offerings, Bluevine is providing the small business community seamless access to explore insurance providers right from their account dashboard. Available now, Bluevine Business Checking customers can research a broad set of insurance products and complete the steps to receive a customized insurance quote from our partners. Finding the right business insurance provider remains a confusing and significant pain point for small business owners looking for reliable coverage from a trusted source. Often, small business owners rely on recommendations from the small business community to determine their insurance needs, but this can leave them with ill-fitting policies that don't address the specific needs of their small business. As many as 75% of small businesses in the U.S. are underinsured, and 40% do not have any insurance, pointing to an acute need for insurance solutions designed with this community in mind. "After the initial success of our small business insurance partnership with NEXT last year, we took a closer look at the gaps our customers might still have with their insurance policies and worked to close them, By partnering with Coalition and NEXT, Bluevine is serving the broader small business community by providing in-dashboard access to trusted insurance companies that support the small business community on their journey to grow and scale." -Eyal Lifshitz, CEO and co-founder of Bluevine Since the launch of Bluevine's insurance partner program, 28% of customers have clicked through to learn more, and thousands have continued on to receive quotes from Bluevine's licensed insurance partners. These partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform. When we first started our business, we looked for insurance from multiple sources, but when we signed up with Bluevine and learned more about what their insurance partners offer, it made the process so much easier, They helped us learn what we need for our business and get a quote. I would recommend it to anyone who is looking for insurance. We are very happy with our policy,said Daphne Simmons, owner of Ovrtake Fitness. Overall, these partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform. Active Cyber Insurance offered by Coalition provides a new integrated approach for companies to manage cyber risk. Coalition's offering provides small and midsize companies with cybersecurity tools, active monitoring, and anytime access to digital forensics and incident response services, combined with insurance coverage provided by well-known insurance carriers. By identifying and mitigating digital risk, policyholders that choose Coalition's offering experience 50% fewer cyber claims than the broader U.S. market, with 45% of incidents resolved at no cost. In our experience, many cyber criminals are opportunistic, particularly when it comes to small organizations. No company is too small to be an enticing financial opportunity for attackers, Choosing to go with Coalition's Active Cyber Insurance offering can help a small business avoid a potentially catastrophic cyber incident – like a ransomware attack – where financial costs could cripple a business. We are delighted to bring Coalition's product offering to Bluevine customers with the aim of increasing access to cyber insurance for organizations of all sizes and continuing to prevent digital risk before it strikes,said Catherine Lyle, Coalition's Head of Claims. By providing access to multiple insurance offerings for new and existing digital banking customers, Bluevine is providing entrepreneurs with curated partnership solutions that support their goals. Starting today, existing Bluevine Business Checking customers can log in to their account dashboard and determine the best insurance provider for the current stage of their business. This insurance dashboard expansion enables Bluevine to help solve the ongoing financial needs of small businesses by providing entrepreneurs with access to trusted and best-in-class insurance products quickly and seamlessly. About Bluevine Bluevine provides small businesses with fast and simple access to holistic banking solutions built with them in mind. Bluevine's advanced online platform offers an intuitive, convenient solution designed to meet the financial needs of today's business owners with a suite of products including Bluevine Business Checking, Bill Pay, and Line of Credit. Since launching in 2013, Bluevine has served more than 450,000 small businesses and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft's Venture Arm). Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Banking Services provided by Coastal Community Bank, Member FDIC. About Coalition Coalition is the leading provider of Active Insurance, combining comprehensive insurance coverage and cybersecurity tools to help businesses manage and mitigate digital risks. Through its partnerships with leading global insurers, including Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, and Vantage, Coalition offers its Active Insurance products in the U.S., U.K., and Canada, and its security products to organizations worldwide. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates both digitally and in office hubs.

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