PayCloud.io | May 27, 2021
PayCloud.io is pleased to introduce a digital payment platform specialized for insurers and MGAs to fulfill the continuously expanding need for digital payment solutions. While the name payCloud.io is new, the core systems and team have been in the insurance industry for over two decades. PayCloud.io spun out of insurance software pioneer Silvervine Software, uses the same forward-thinking digital payment technology as Silvervine Software, but with a dedicated payment focus.
PayCloud.io provides a comprehensive suite of modern payment solutions, each of which provides a safe, convenient, and user-friendly customer experience. Its efficient digital payment systems allow insurers to receive payments as well as initiate a wide range of outbound payments to insureds, claimants, vendors, and others. payCloud.io allows premium payments both online and by phone. The company, which is ultra-secure and always reliable, achieved 99.99% uptime in 2020 and the previous five years.
"We're pleased to formally launch payCloud.io and expand our digital payment offerings," said Timothy Cunningham, payCloud.io's director of payments. Cunningham, who has over 20 years of product and software development expertise in the insurance sector, is in charge of many new product developments that will be deployed in the coming weeks. "Because our entire payCloud.io team has prior expertise in the insurance sector, we can easily help both existing and new customers. Because we are familiar with insurance operations, structuring, and digital payment requirements, we can quickly support customers, capitalize on new digital payment opportunities, and grow within the industry."
"We are excited to offer payCloud.io, which provides customers with an expert team committed to digital payment innovation, exceptional customer support, and highly competitive rates," said Shurre Hampton, Silvervine's general manager. "Silvervine can now focus completely on developing cutting-edge insurance software to meet the rising demands of the insurance sector, due to payCloud.io. Best of all, Silvervine clients will benefit from the all-star payCloud.io team's products and services."
payCloud.io helps insurers improve their performance by providing quick, friendly digital payment experiences at the industry's lowest rates. The company provides an ultra-secure digital payment platform with inbound and outbound payment options that are also specifically tailored to the needs of insurers and MGAs. All payCloud.io solutions include simple implementation, extensive customer support, and PCI hosting for efficient risk management.
PZU insurance group | September 07, 2021
The Baltic activities of the PZU insurance group, one of the most important financial institutions in Central and Eastern Europe, and Akur8 announce the start of a collaboration aimed at improving PZU's pricing process in two of its entities in the Baltic area. This agreement strengthens Akur8's international reach as a next-generation charging platform, as well as its presence in Central and Eastern Europe.
“This new collaboration with PZU represents an important result for Akur8: it marks our entry into the Central and Eastern European insurance market and strengthens our international presence. It also represents a validation of the value of Akur8 for insurers already well positioned in the use of AI applied to internal processes "
With 200 years of experience in offering the best protection in the industry to its clients, the PZU Group is one of the leading Polish and Central and Eastern European insurers. By choosing Akur8 to drive the transformation of its pricing process, PZU strengthens its commitment to the adoption of innovation and AI at scale to stay at the forefront of insurance.
"We are thrilled to adopt Akur8 as an insurance pricing platform for two important businesses. We are the best technology on the market and this choice further confirms our deeply innovative DNA. PZU Estonia is committed to researching the best insurtechs in the industry to continuously raise its standards. and offer customers the best protection at the fairest rates, "commented Mihkel Uibopuu, CEO of PZU Estonia.
"Compared to manual solutions, Akur8 offers a totally innovative approach to pricing, which we believe is particularly interesting to adopt. In terms of speed and performance, the advantages offered are considerable, and the process is solid and secure. Even the collaborative and intuitive interface, the intelligent functions and responsive and competent support were highly appreciated by our pricing teams, "added Julius Kondratas, technical director and member of the board of directors of Lietuvos Draudimas AB.
Akur8 is revolutionizing the pricing process of insurance products thanks to transparent AI. The company has developed an exclusive pricing solution, intended for insurance companies, which automates modeling, but without compromising on transparency and total control over the models created, as required by international regulatory bodies. Akur8 is the only solution in the industry to harmonize the actuarial world with that of machine learning.
The Powszechny Zakład Ubezpieczeń SA group (PZU group) is the largest financial institution in Poland and in Central and Eastern Europe. PZU SA is the leader of the group, with traditions dating back to 1803, the year of the creation of the first insurance company in Poland. The PZU group manages consolidated assets for a total value of 90 billion euros. The group enjoys the trust of 22 million customers in five countries and offers products and services to customers in the retail and commercial sectors, as well as small and medium-sized enterprises. By diffusion and number of customers, Poland represents the core market of the PZU group, but its subsidiaries play an important role in areas such as Lithuania, Latvia, Estonia and Ukraine. According to spontaneous brand recognition surveys, PZU scored 92% and 100% in aided recognition, thus establishing itself as Poland's most recognized brand. Since 2010, PZU SA has been listed on the Warsaw Stock Exchange, where it is among the leading stocks in the blue chip segment with the largest capitalization since the start of listing.
Hub International Limited | November 08, 2021
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Calculated Risk Advisors, LLC (Calculated Risk Advisors). Terms of the transaction were not disclosed.
Located in Chicago, Illinois, Calculated Risk Advisors is a boutique risk consulting firm and professional liability insurance brokerage, which supports its clients on alternative risks, complex insurance and errors and omissions. Tom Firestine, Managing Principal, and the Calculated Risk Advisors team will join Hub Midwest West.
About Hub's M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.