Bamboo Insurance | June 18, 2021
Bamboo Insurance, an insurance company, focused on transparency, customer advocacy, and a frictionless experience, has purchased certain assets from parent company First American Financial Corporation, a leading provider of title insurance, settlement services, and risk solutions for real estate transactions. In October 2020, First American announced its intention to quit the property and casualty business and focus on its core business.
Over $22 million in premium was purchased in personal and commercial policies underwritten by prominent third-party carriers. As part of the Bamboo team, FAPCIA's staff will continue to deliver exceptional service to policyholders.
Bamboo Insurance has long provided flexible and transparent insurance alternatives in California, including homeowners, dwelling fire, and auxiliary products. Beginning today, Bamboo's new agency business will be able to satisfy the requirements of its clients across the country by offering auto, renters, condominium, commercial lines, and a variety of other insurance coverages in addition to its existing products.
With the addition of an agency of this caliber, Bamboo Insurance will grow faster and further in the insurance value chain.
About Bamboo Insurance
Bamboo Insurance, founded by insurance industry veterans, is a fast-growing insurtech firm that offers commercial and personal line products.
Unitas Financial Services | September 27, 2021
Lenders Service Corporation (LSC) is excited to announce its merger with Unitas Financial Services (Unitas) whose mission is to provide the nation's simplest portfolio protection to lenders and real estate investors across the country. LSC is a licensed Managing General Insurance Agency that has served the insurance needs of the lending community since 1981. Unitas, pronounced [YOO-ni-tahs], is a Latin word that means "Oneness or Unity". The merger with Unitas serves to provide an even broader range of highly specialized lender and real estate investor protection programs to all clients, backed by exceptional customer service.
The merger of LSC with Unitas brings together a total of 14 insurance carriers and 510 clients across 30 states. LSC is based in Louisville, KY, and Unitas is based in Dublin, OH with offices in Debary, FL, and representatives across the United States. The merger builds upon the "customer first" service philosophy that has guided both companies to success. Clients will also have access to a robust range of new products, including insurance tracking, mortgage settlement solutions, blanket mortgage, blanket consumer protection (VSI), blanket equipment coverage, and more.
In addition, the merger between LSC and Unitas brings unmatched claims handling experience, better coverage for lenders, and a depth of leadership and staff experience that is unmatched in the industry. Previously, LSC had acquired the Financial Products Division of Assured Partners NL, LLC's Lexington, KY office. The merger with LSC is a clear signal of Unitas's dedication to the lender protection market, as well as its commitment to provide the most up-to-date and innovative products, services, and concepts in financial institution coverage.
With the talent, industry knowledge, and carrier access that comes with our combined organizations, we will be able to provide our clients with a more diverse, creative, and comprehensive lineup of products and services. We cannot say thank you enough for your loyalty to our agency over these last 40 years. We will continue to work hard in earning that loyalty as we move into the future as a part of the Unitas family.
- LSC President Gary Criscillis
Unitas was formed in 2020 when Golden Eagle Insurance, founded in 1995, merged with Innovative Risk Solutions, founded in 2005. Unitas provides portfolio protection services for lenders, such as vendor's single interest (VSI), blanket mortgage hazard, blanket commercial equipment, collateral protection insurance (CPI), lender-placed hazard and flood coverage, loan default coverage (Protequity), tax tracking, guaranteed asset protection (GAP), as well as portfolio protection for real estate investors. Lenders in the property and automotive sectors will benefit from a combined 82 years of industry experience from LSC and Unitas. The merged companies will be in a strong market position to offer their services to lenders and real estate investors going forward.
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.