PCF Insurance Services | September 22, 2022
PCF Insurance Services (PCF), a leading national insurance brokerage, was recently named a top 20 insurance broker on Business Insurance's "2022 Top 100 Brokers of U.S. Business" list. The list, which ranks companies by their 2021 brokerage revenue generated by U.S.-based clients, identifies the highest-grossing companies in the insurance industry. The company also placed within the top 15 on Insurance Journal's "2022 Top 100 Property/Casualty Agencies" list, which ranks companies by total property and casualty (P&C) agency revenue.
With 2021 revenue of $590 million, PCF Insurance increased its Business Insurance ranking from No. 27 last year to No. 20 in 2022, representing the largest year-over-year jump among top 20 companies. The company's year-over-year revenue increase of more than 150% was also the largest percentage increase of any company in the top 20.
PCF Insurance's 167% P&C revenue increase from $176 million in 2021 to $470 million in 2022 provided the momentum for the company to boost its standing in the Insurance Journal ranking from No. 20 last year to No. 13 in 2022. Over a three-year period, PCF Insurance has seen a 3,830% growth in revenue.
"In just under four years, PCF has scaled from an agency with more than $10 million in revenue to a leading national insurance brokerage with annual revenue exceeding $640 million, This recognition is a testament to our pursuit thoughtful, value-accretive expansion and our partners' commitment to delivering best-in-class services to clients."
-Peter C. Foy, Chairman, Founder and CEO of PCF Insurance
The rapid ascension among the industry's leading brokerage firms is a testament to PCF Insurance's collaborative partnership model and culture. PCF Insurance has an intentional approach to attracting and bringing on entrepreneurial-minded, growth-focused agency owners who perform at a high level, deliver year-over-year increases in organic growth, and retain clients.
PCF Insurance has earned a reputation as being a preferred partner for entrepreneurs because even though our partners are independent, everyone has a stake in the success of our organization, Our Agency Partners are the fuel to our success. They collaborate, share knowledge, and as a result, propel our growth strategy. Because when one of us grows, we all grow.,said Peter C. Foy.
In addition to the expansion of its technology and infrastructure investments, PCF Insurance completed six acquisitions in 2019, 36 in 2000, 89 in 2021, and is on pace to complete more than 100 acquisitions this year. Of these acquisitions, XX% of these deals were a direct result of referrals from within the PCF partner network. To continue to add value and diversification to its network of offerings, PCF recently announced acquisitions of California-based Andreini & Company, Utah-based MGA United Underwriters, and specialty MGA Professional Warranty Service Corporation (PWSC). According to analysis by Chicago-based Optis Partners LLC.
Through the company's collaborative structure, PCF Insurance currently serves more than 465,000 clients through its network of nearly 165 Agency Partners* across 37 states.
About PCF Insurance Services
A top 20 U.S. broker headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers' compensation solutions. Propelled by its people, PCF Insurance's agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partners alignment through equity ownership, significant leadership incentives, and resources to over 3,100 employees throughout the U.S. PCF Insurance is a notable leader in the insurance space, ranked #20 on Business Insurance's 2022 Top 100 Brokers and #13 on Insurance Journal's 2022 Top Property/Casualty Agencies.
CLAIMS, INSURANCE TECHNOLOGY
One Inc | October 27, 2022
One Inc, the leading digital payments network for the insurance industry, announced today that it has integrated the Hi Marley Insurance Cloud with One Inc’s ClaimsPay® platform. This valuable new integration allows carriers to conduct text message conversations with claimants inclusive of digital payment, a unified and modern approach.
The text-based opt-in for Hi Marley customers seamlessly integrates payments within their active insurance workflows, ensuring policyholders have a modern, complete experience within a single text engagement. This increased automation and simplification of the claims process, from digital claims initiation with Hi Marley straight through to claim payment with One Inc, improving the experience for adjusters, policyholders and vendors.
Designed with a seamless policyholder experience in mind, no app download is required for policyholders to use the service. One Inc’s ClaimsPay configuration will include the option to seamlessly integrate with Hi Marley, running Hi Marley-generated Case IDs through the ClaimsPay API. One Inc clients may utilize their existing APIs to access the service.
“Better user touchpoints are a key priority for insurers looking to transform the experience around claims workflow and payments, and One Inc has long sought to make these interactions as seamless as possible, By using text functionality from Hi Marley in ClaimsPay, carriers can literally put payments flexibility at their policyholder’s fingertips. We are thrilled with this partnership and fully expect that expansive new communications channels, enabled by partners like Hi Marley, will prove critical as we reimagine the way claims are initiated, managed, and distributed.”
-One Inc CEO, Ian Drysdale
The pace of change in our insurance industry lies with leaders who provide breakthrough simplicity while managing customer expectations and removing points of friction, The magic is delivering an empathetic and streamlined policyholder experience, where human interaction is facilitated by technology. We’re excited about our One Inc partnership, as together we can enable carriers to connect and build trust with customers and communicate and transact simply meeting policyholders where they are,said Mike Greene, CEO of Hi Marley.
About One Inc
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payment, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claims payments.
About Hi Marley
Hi Marley is the intelligent collaboration platform for the insurance industry. Built by people who know and love insurance, the platform enables hassle-free texting across the entire ecosystem, empowering insurance professionals and delighting policyholders. Hi Marley’s industry leading analytics deliver novel insights that fuel continuous improvement. The solution is built for the enterprise - fast to deploy, easy to use and seamlessly integrates with other core systems. Hi Marley is empowering the world’s leading insurance carriers to reinvent the customer and employee experience.
OneAmerica | September 21, 2022
The companies of OneAmerica announce the expansion of their product portfolio to offer OneAmerica® Variable Universal Life (VUL) insurance. Distributed through the Individual Life and Financial Services (ILFS) line of business, this new product provides customers with a strong vehicle for protection, while also offering them the opportunity to invest in the financial markets. VUL customers have the flexibility to use the policy for life insurance protection, cash value accumulation or other financial needs.
"We're excited to bring our unique VUL product to today's marketplace, The product's guarantees and transparency make it an attractive, new option for people to help protect their loved ones and create an opportunity for potential financial growth."
-Dennis Martin, president of ILFS
The OneAmerica VUL life insurance policy includes a guaranteed death benefit provision and fully guaranteed policy charges, which are first-of-its-kind in the VUL space. These guarantees offer customers confidence that their policy charge structure won't change in the future. They also add an additional layer of protection against policy lapse and loss of the death benefit.
In addition, the OneAmerica VUL offers two investment-related differentiators to the marketplace. The product offers a low-cost, transparent fund lineup of well-known industry asset managers, and it includes two defined outcome funds — again, a first in the industry for a VUL product. The investment lineup offers customers more than 50 diverse investment options, customizable to their portfolios and goals. These innovations reflect the client-centered approach that OneAmerica brings to the marketplace.
VUL will give our distribution channels a strong product to match the needs of new and existing customers, Ultimately, our VUL is a robust product built on our strong foundation and commitment to deliver on our promises when customers need us most,said Mark Scalercio, senior vice president and head of distribution for ILFS.
The new product also includes extra protection and added benefits through optional riders.
OneAmerica VUL is currently available through the OneAmerica career agency distribution channel in all states except California, Florida, New York, North Dakota and South Dakota.
A national provider of insurance and financial services for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers.