Cyber Insurance Will Reshape Cybersecurity

Insurance Journal | October 11, 2019

Cybersecurity is broken. It’s a bold statement, but given the increasing frequency of cyber breaches, along with the presence of more varied and evolving threats, there is growing uncertainty about the ability of the cybersecurity industry to protect its customers. There is virtually no company that isn’t a potential target. From mom-and-pop storefronts to Fortune 500 companies, no business is immune to cyber risk. Even with the best possible cybersecurity posture, there is always a threat of a breach. There are several factors driving the rise in cyber threats. They break down into a few core categories: more areas of exposure, difficulty in law enforcement and more creative hackers.

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You buy whole life insurance as protection for your loved ones and your legacy. But it can be so much more. Whole life can help address these retirement challenges. Social Security is expected to be depleted by the 2030s. Couples can expect to pay $285,000 in health care costs in retirement (not including long-term care)².

Spotlight

You buy whole life insurance as protection for your loved ones and your legacy. But it can be so much more. Whole life can help address these retirement challenges. Social Security is expected to be depleted by the 2030s. Couples can expect to pay $285,000 in health care costs in retirement (not including long-term care)².

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AUTOMOBILE INSURANCE

High Street Insurance Partners Successfully Acquires Insurance Services Group.

High Street Insurance Partners | January 24, 2022

High Street Insurance Partners ("HSIP") announced its December acquisition of Insurance Services Group (ISG), a full-service, regional insurance brokerage firm. ISG is headquartered in Washington and serves clients in 12 states, with a large concentration in the West. "This acquisition represents our continued expansion in the West, With the addition of ISG, we can assist a greater number of clients with a full spectrum of insurance needs." -Scott Wick, CEO of HSIP. "We are excited to join HSIP. Their vision aligns perfectly with ours; commitment to our clients and the local communities in which we live. We will be able to leverage the partnership to continue to provide best-in-class solutions to all our clients." -Trevor Campbell, President of Insurance Services Group This acquisition is one of 17 finalized in December, making HSIP one of the most active brokerage firms in 2021, in terms of acquisitions. HSIP has acquired 97 agencies in just three years. The firm has a geographical footprint spanning 23 states. About High Street Insurance Partners High Street Insurance Partners (HSIP) is a full-service, independent insurance brokerage firm. Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies. HSIP employs over 1,700 insurance specialists & consultants in offices based in Arkansas, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, & Washington.

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NerdWallet Selects QuinStreet to Power Auto Insurance Marketplace

Cision PR Newswire | September 19, 2020

QuinStreet, Inc. A leader in performance marketplace products and technologies, and NerdWallet, a website and app that provides financial guidance to more than 160 million consumers every year, announce today that NerdWallet has selected QuinStreet to exclusively power its auto insurance marketplace, leveraging QuinStreet's best-in-class consumer shopping and matching solutions. QuinStreet is the leader in digital auto insurance shopping, with more than 10 years of experience matching and connecting auto insurance shoppers with insurance carriers and agents. The company provides access to over 65 national, regional and specialty insurance carriers and a network of approximately 6,000 insurance agents, providing broad choice and options to online insurance shoppers. QuinStreet has expanded its presence in the auto insurance marketplace five-fold over the past six years, now connecting close to 30 million consumers annually to insurance carriers and agents.

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INSURANCE TECHNOLOGY

PZU group adopts Akur8 to improve the charging process in the Baltic countries

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. About Akur8 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. About PZU 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.

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