Corvus Insurance to provide free cyber risk analysis to healthcare entities

Insurance Business America | April 13, 2020

Corvus Insurance has announced a new initiative to provide cyber risk analysis and reports for hospitals, healthcare organizations and any other organization on the front line of the healthcare response to the COVID-19 outbreak. The reports are free and can be requested through the Corvus Insurance website. The COVID-19 outbreak comes amid a spike in cyberattacks on healthcare entities. The Corvus initiative offers free Dynamic Loss Prevention (DLP) reports in response to the heightened need to strengthen IT security in healthcare. “Healthcare organizations and first responders require stronger IT security now more than ever before, as more operations move online in an effort to reduce human interaction,” said Philip Edmundson, CEO of Corvus Insurance. “Sadly, cyber criminals are hacking healthcare organizations more at this time knowing that resources and staff are stretched due to the pandemic. We want to do our part to strengthen the defenses of healthcare organizations during this time of crisis.”

Spotlight

In this edition of sigma, Swiss Re Institute examines the development of premiums in the global primary insurance industry (direct premiums written) for the life and non-life sectors. We also analyse profitability trends and provide an outlook for the sectors in the context of industry trends as well as the global macroeconomic environment and financial markets. The global economy improved considerably in 2017, with real gross domestic product (GDP)1 rising 3.3%. Advanced markets, except for the UK, experienced a broad-based cyclical upswing. In emerging markets, the improvement in commodity exporting countries, continued expansion of China and robust growth in Central and Eastern Europe (CEE) contributed positively as well. Inflation began to rise in advanced markets, and largely remained within central bank targets, while easing in most emerging markets. Long term interest rates remain low by historical standards, but approaches to monetary policy have diverged.

Spotlight

In this edition of sigma, Swiss Re Institute examines the development of premiums in the global primary insurance industry (direct premiums written) for the life and non-life sectors. We also analyse profitability trends and provide an outlook for the sectors in the context of industry trends as well as the global macroeconomic environment and financial markets. The global economy improved considerably in 2017, with real gross domestic product (GDP)1 rising 3.3%. Advanced markets, except for the UK, experienced a broad-based cyclical upswing. In emerging markets, the improvement in commodity exporting countries, continued expansion of China and robust growth in Central and Eastern Europe (CEE) contributed positively as well. Inflation began to rise in advanced markets, and largely remained within central bank targets, while easing in most emerging markets. Long term interest rates remain low by historical standards, but approaches to monetary policy have diverged.

Related News

INSURANCE TECHNOLOGY

Imperial PFS Introduces Quivit, a Gamechanger for the Insurance Industry

Imperial PFS | October 04, 2021

Imperial PFS Introduces Quivit, a Gamechanger for the Insurance Industry. Called a "gamechanger" by its first users, Quivit is the first insurance-specific product to merge document signing, storage and an integrated payment processing system – allowing for both paid-in-full and financed transactions. The result is a dramatically streamlined workflow, transforming a complex, high-touch process into an efficient, digitally-driven sales closer. Until Quivit, there was no way for insurance agents to quickly prepare insurance quotes and applications for their insureds within the same secure digital space. We listened to our clients, recognized a gap, and found a way to provide a solution, We worked with agents to develop a digital product that merges selling, managing account communication, and collecting payments for policies in a single step, without the need for additional software from other providers. Now, work that once took days takes only minutes – which means Quivit will help expedite sales and improve payment collection in a single step. - Herb Chirico, IPFS's Chief Marketing Officer and Senior VP. User-friendly and intuitive, Quivit makes it easy to send premium finance quotes, track progress, understand the status, send alerts, obtain signatures, collect payments and close the sale. Quivit also integrates seamlessly with existing systems and processes, which means it doesn't require replacing your current technology or agency management system (AMS). Quivit is going to revolutionize the insurance industry, Quivit shortens the sales cycle, so agents can close sales far faster. It's the key to unlocking untapped revenue opportunities. - Frank Friedman, IPFS's CEO and President. Even its name has special significance, as Quivit combines the words 'quick,' 'pivot' and 'IT.' Quivit is available now to select IPFS Clients and will be widely-released later this fall. About Imperial PFS: Imperial PFS uses state-of-the-art technology and legendary Customer service to lead the way in the premium finance and payments industry. IPFS offers flexible lending with multiple benefits for our agency partners and insureds. With more than 500 Associates at 30 locations across the United States and Canada, we bring the strength of an international company reinforced by local relationships and service. Visit us on LinkedIn. About Herb Chirico: Herb is responsible for overseeing Marketing as Chief Marketing Officer, as well as Credit, Insurance Company Management, Product Management and Project Management. Herb joined IPFS in 2001. His prior positions with IPFS have included Branch Manager in Buffalo, New York, SVP of Operations and Credit and SVP of National Sales. Before joining IPFS, he held management positions at Transamerica Insurance Finance Corp. and HSBC. Herb has a BS from Boston University. About Frank Friedman: Frank joined Imperial PFS in 2019 and serves as the CEO and President. His extensive financial experience comes from more than 40 years at Deloitte where he served as Interim CEO, COO, CFO, and, most recently, Global Chief Operations Officer. Frank has a BS degree in Accounting and Business Administration from the University of Kansas.

Read More

INSURANCE TECHNOLOGY

DealerPolicy Appoints Insurance Industry Veteran Tom Super as Head of Agency Solutions

DealerPolicy | December 23, 2021

DealerPolicy, the leading insurance marketplace for automotive retail, has appointed Tom Super as the company's Head of Agency Solutions. In this role, Tom will report directly to DealerPolicy Co-Founder and CEO Travis Fitzgerald and oversee the company's insurance sales and service business, which includes DealerPolicy's growing network of local agencies. Super's appointment to expand insurance operations comes as DealerPolicy enters its next phase of accelerated growth. In 2021, DealerPolicy announced a $110 million Series C funding round led by Goldman Sachs Asset Management, and Fitzgerald was recognized as one of Travelers' 2021 Agents of the Year. The company has grown in headcount by 50% over the past year and now supports over 1,200 dealerships nationwide, with more joining each month. A recognized insurance industry veteran, Super brings 15 years of experience in strategy, general management and leadership to DealerPolicy, having previously held positions at Farmers Insurance Group, Booz & Company, AT&T and The White House. Most recently, Super served as Head of P&C Insurance for J.D. Power and Associates, where he led the expansion of the company's insurance practice and oversaw its vast data-driven research and analysis on insurance consumers. While at Farmers, he helped to establish the company as a national brand while serving in strategy and consumer research areas during his tenure. He holds a master's degree in public administration from the American University School of Public Affairs and received his bachelor's degree in business from Robert Morris University. "We're thrilled to have Tom join us. In addition to being an established expert who people turn to for all matters related to property and casualty insurance, Tom is a passionate and dedicated leader, His track record in establishing J.D. Power and Associates and Farmers as authorities in the industry makes for a tremendous addition to our team. Very few have more insight on insurance customers than Tom, and his expertise on the needs of modern insurance consumers is invaluable to DealerPolicy's mission of delivering a better, more seamless car buying experience for dealers and consumers alike." -Travis Fitzgerald, Co-Founder and CEO of DealerPolicy. About DealerPolicy DealerPolicy is the most trusted and complete digital insurance marketplace for automotive retailers and their valued customers. The company's innovative mobile technology enables car-buyers to view multiple insurance quotes and immediately purchase online and/or connect with licensed insurance agents to complete the process. With an exclusive combination of partnerships among premier automotive retailers and data providers, an industry-best insurance carrier network, and access to DealerPolicy Insurance licensed agents, DealerPolicy is recognized for its place at the forefront of Insurtech. DealerPolicy Insurance is a licensed insurance agency, with licenses to operate in the lower 48 states.

Read More

CORE INSURANCE

Betterfly and Chubb Announce Alliance to Offer Wellbeing, Insurance, and Social Impact Solutions across Latin America

Betterfly | December 06, 2021

Chubb, the world's largest publicly traded property and casualty insurer, announced its most recent digital alliance with Betterfly, a Latin America digital benefits platform used by companies to encourage employees' commitments to self-care. The platform rewards healthy habits with charitable donations and life insurance protection that grows at no cost based on lifestyle choices that foster physical, mental, and financial wellbeing. Betterfly has developed a unique embedded insurance B2B2C model and has chosen Chubb as its preferred insurance provider for Mexico, Colombia, Ecuador, Chile, and Argentina. Chubb will make Betterfly's membership and benefits platform available to its consumer line insureds in these countries through existing distribution channels. The integration of Chubb's digital insurance into the Betterfly ecosystem uses the capabilities of Chubb Studio, Chubb's global digital product distribution platform. "We are thrilled to start working together with Chubb to bring our Betterfly Effect to every corner of Latin America. This alliance combines Chubb's global expertise in risk management, data analytics, and superior claims service with our AI-based customer behavioral science to complement our prevention, protection, and purpose solutions. This is a huge step towards scaling our platform throughout the region and to our vision of protecting the future of 100 million people by 2025," - Eduardo della Maggiora, Founder and CEO of Betterfly. "We are excited by this new digital alliance. Betterfly's wellbeing platform will convert good habits into tangible benefits, combining social purpose with financial protection, I am pleased to join efforts with Betterfly for a healthier Latin America and to provide greater access to insurance protection for people, families, and businesses." - Marcos Gunn, Senior Vice President, Chubb Group and Regional President, Latin America. Most people in Latin America do not have life insurance coverage. According to a Swiss Re Institute's Report from October 2020, the region had an estimated total mortality protection gap of US$14 trillion. Betterfly is making it easier and more affordable for individuals and companies in Latin America to access financial, insurance, and lifestyle benefits. Integrated with apps like Google Fit, Apple Health, and Strava, the platform tracks members' activities and rewards healthy habits, such as walking, exercising, sleeping, and meditation, with "Better Coins" that can be exchanged for charitable donations, lifestyle rewards, and increased life insurance coverage. Chubb's technology, analytics, and data capabilities provide its global partners and their customers with a seamless experience. These capabilities are being utilized in Latin America with partners like Betterfly and in other regions around the world, including Asia and Europe. Specifically, Chubb's global digital product distribution platform, Chubb Studio, allows business partners to quickly and easily add "white label" insurance offers to their existing digital platforms, with significant speed-to-market capabilities. Additionally, it provides a secure and scalable platform with multiple APIs to simplify the process. The platform enables Chubb's partners in retail, e-commerce, banking, fintech, airline, telecommunications, and other industries to add digital insurance options to their product and service offerings, as well as the ability for their customers to submit claims 100% digitally within their ecosystems and platforms. About Chubb Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. As an underwriting company, we assess, assume, and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris, and other locations and employs approximately 31,000 people worldwide. About Betterfly Betterfly, one of Latin America's most valuable insurtech startupi, is a leading technology company that combines wellbeing, insurance, and social purpose with a mission to help people do better, live better, and be better. The company is pioneering a new way of bringing flexible and simple financial protection to all by empowering people to help others and take care of their own mental, physical, and financial wellbeing. Betterfly is making it easier and more affordable for individuals in Latin America to access financial, insurance, and lifestyle benefits and for organizations to provide these benefits to their employees. Its fully digital benefits subscription gives each member smart life insurance coverage. The company leverages its platform to track and rewards members' good habits with charitable donations options and life insurance coverage that grows at no cost. As a Public Benefit Corporation and Certified B-Corp, Betterfly is reimagining insurance with a purpose-driven approach that empowers members to protect their families, communities, and the environment.

Read More