Cision PR Newswire | August 24, 2020
Church Mutual Insurance Company, S.I. (a stock insurer)1 is launching a preferred vendor program with SafelyYou to introduce revolutionary fall prevention technology to its memory care customers. This technology will ultimately decrease fall risks, emergency room visits and the long-term cost of insurance premiums. Our research shows that SafelyYou's memory care-focused technology reduces resident falls by an average of 40%, so we are excited to share this game-changing technology with our senior living customers," said Jim Ketterson, Director – Special Business Unit/Senior Living for Church Mutual®. "By accelerating the adoption of the technology, our goal is to help keep professional liability loss costs down and offset increasing insurance rates. Once our customers get to experience the technology in action, we are confident they will be interested in deploying it more fully throughout their communities.
Constellation Affiliated Partners, RedBird Capital Partners, Coastal Insurance Underwriters | December 29, 2020
Constellation Affiliated Partners (Constellation) today announced the acquisition of Coastal Insurance Underwriters (Coastal) and Cybercom. Financial terms of the transaction were not disclosed.
Through the acquisition of Coastal and Cybercom, Constellation will continue to expand its product offerings to the Condominium Association and Homeowner’s Association marketplace. “These new business classes complement many of our existing programs and will provide increased product access to our clients,” said Bill Goldstein, CEO of Constellation. “The Coastal and Cybercom team bring a wealth of knowledge and innovative web-based programs. Their proprietary technology platform and deeply experienced underwriters will be a great addition to our growing portfolio of innovative, high-quality MGAs, program administrators, and wholesalers in the insurance industry.”
Coastal Insurance Underwriters, founded by President/CEO Charles “Chuck” Bushong in 2007, is an insurance program administrator providing unique products to the Community Association marketplace. Coastal underwrites property, general liability, crime, D&O, golf & country club, equipment breakdown, workers’ compensation, inland marine, umbrella, small business, and private flood insurance products. Coastal currently underwrites insurance in Florida, California, Alabama, Texas, Georgia, Kentucky, and Tennessee.
“Over the last 13 years Coastal has grown to offer a multitude of unique insurance products and cutting-edge technology designed to meet the needs of the ever-changing insurance marketplace,” stated Bushong. “We look forward to accelerating our growth as part of the Constellation portfolio of companies, utilizing Constellation’s established relationships to continue to diversify our programs and expand our footprint throughout the U.S.”
“This powerful tool quotes, underwrites, binds, and issues insurance policies to agents in real-time,” added Bushong. “The platform was designed to leverage automation and provide agents with a simple, 24/7 solution to even the most complex insurance opportunities, while providing carriers access to timely underwriting data and risk exposure information.”
Cybercom currently provides technology development services to Coastal and third-party clients throughout the country.
“The acquisition of Coastal and Cybercom demonstrates Constellation’s commitment to technology-enabled and data-driven programs and to the continued diversification of programs and product offerings available throughout our company,” commented Goldstein.
About Constellation Affiliated Partners
Constellation Affiliated Partners is a New York-based insurance consolidator platform that specializes in acquiring MGA, program administrator and wholesale companies in the United States and Canada. Constellation's partners use a set of core values to evaluate and pursue strategic partnerships with companies that have demonstrated superior underwriting principles and have earned a solid industry reputation. The diverse group of companies within Constellation's portfolio bring a vast array of insurance and re-insurance offerings to the North American marketplace. Constellation is backed by RedBird Capital Partners, a private investment firm focused on building high-growth companies with flexible, long-term capital.
About RedBird Capital Partners
RedBird Capital Partners is a private investment firm focused on building high-growth companies with flexible, long-term capital in partnership with its Entrepreneur & Family Office Network. Founded by former Goldman Sachs Partner Gerry Cardinale, RedBird today manages $4 billion of capital principally across its core industry verticals in Sports, TMT, Financial Services and Consumer. RedBird invests with an entrepreneurial, company-building mentality, with an emphasis on capital appreciation and compounding equity returns over longer holding periods. RedBird’s network of business founders and entrepreneurs is central to its investment sourcing strategy, and its highly curated group of limited partners are active co-investors who provide scalable capital support. For more information, please go to www.redbirdcap.com
About Coastal Insurance Underwriters
Coastal Insurance Underwriters, Inc. founded in 2007 is a program administrator specializing in designing, creating, and managing insurance products for a variety of business classes, including condominium associations, homeowner associations and golf and country clubs.
Coastal has grown to become one of the largest Managing General Underwriters in the United States focused on community association products with over 8,000 homeowners and condominium associations currently insured.
Coastal continues to advance in automation to ensure that they remain on the cutting edge of changes necessary in this marketplace. They continue to develop and launch new products and expand into additional states. Coastal will continue to strive to be a leader in providing highly specialized, and financially sound insurance products through automated and simple-to-use solutions.
Cybercom International Corporation, Inc. was established in 1997 as a custom software development company in Ponte Vedra Beach, FL. During the past 23 years, Cybercom has been building high-performance enterprise-level applications for a number of vertical markets, including insurance, e-commerce, industrial, medical, and manufacturing.
Coastal acquired the assets of Cybercom on January 2, 2020.
Cybercom’s capabilities include new product development, existing product support, analytical reporting, document generation, third-party integration, and workflow automation. In the insurance marketplace, Cybercom has built tools for a number of coverage lines, including Property, General Liability, Crime, Directors & Officers, Umbrella, Commercial Auto Liability, and more.
Westland Insurance | July 09, 2021
Westland Insurance Group Ltd. is delighted to announce the acquisition of Nuera Insurance, a digital brokerage, effective July 1, 2021.
Calgary-based Nuera Insurance is a national pioneer in the development of digital insurance experiences and value-added partnerships. It provides customers with an easy-to-use and rewarding online insurance-buying experience, as well as expert assistance. Clients benefit from its relationships with well-known companies, and its collaborations with property management, real estate, and mortgage experts ensure a smooth experience for renters and homeowners.
“With the acquisition of Nuera Insurance, Westland becomes Canada’s leading digital tenant insurance provider,” says Jamie Lyons, President and Chief Operating Officer of Westland. “We are already pleased to work with rental property managers throughout Canada via our Zipsure platform to ensure that their residents are insured and to offer useful data to assist them in managing risk. The combined power of these two brands puts us in a great position to continue innovating and adding value in that space.”
“I am proud of the experience that Nuera provides to both its customers and partners,” says Nuera Insurance owner Braden Bosch. “I am confident that Westland has the scale, innovative culture, and digital focus to carry Nuera’s exciting trajectory forward.”
About Westland Insurance Group
Westland Insurance Group is Canada’s biggest and most rapidly expanding independent property and casualty insurance broker. The company’s nationwide presence of more than 170 sites and over 2,000 employees continues to grow from coast to coast. Westland’s brokers provide expert advice to clients seeking a home, business, farm, life, and auto insurance. Westland has been a family-owned company dedicated to helping its local communities since its inception in 1980.