CORE INSURANCE, INSURANCE TECHNOLOGY
Inszone | January 30, 2023
Austin Insurance was recently acquired by Inszone Insurance Services, a rapidly expanding nationwide provider of benefits, personal, and commercial lines insurance.
Founded by Cole Austin in 2005, Austin Insurance has been providing excellent insurance services to the Grand Prairie (Texas) area for over a decade. Through the years, Austin Insurance has been able to offer a variety of insurance products to the residents of Grand Prairie and contribute to the city's continued economic expansion and new job opportunities.
Inszone Insurance's Dallas office will now handle the day-to-day business previously run by Austin Insurance. As a result, customers may expect the same high quality of service from Inszone Insurance as they have in the past.
Chris Walters, CEO of Inszone Insurance Services, remarked, "Austin Insurance has built a strong reputation across Grand Prairie as a trusted partner for residents to protect their assets." He further added, "This acquisition is another important step in our growth in the Lone Star State as we continue to identify and invest in agencies that will help provide and offer increased services and options to our customer base."
(Source – Business Wire)
Nevertheless, in the coming days, Inszone Insurance is likely to reveal several acquisitions in addition to opening additional facilities.
About Inszone Insurance Services
Inszone is a full-service insurance brokerage founded in 2002 with headquarters in Sacramento (California). It offers various insurance products, including property, casualty, and employee benefits. Supported by a strong and experienced management team, it has grown both independently and by buying other companies. The organization currently has 37 sites across the states of California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Texas, and Illinois and hopes to continue expanding across the country.
CLAIMS, LIFE INSURANCE
Constellation Insurance | March 10, 2023
On March 9, 2023, SS&C Technologies Holdings announced that Constellation Insurance, Inc. has chosen SS&C Precision LMTM to assist in handling its expanding portfolio of commercial mortgages.
Precise LM software for loan origination and servicing will help track pipelines, service loans, account for assets, manage regulators, and report on its increasing commercial mortgage portfolio on a single platform.
Vice President of Mortgages and Real Estate at Constellation, Timothy Biggs, expressed, "We were impressed by SS&C's expertise, infrastructure, and continued enhancement to its commercial mortgage technology."
Timothy Biggs added, "Precision LM is a robust and scalable solution, which will provide increased data and automation and improve efficiency and accuracy. Having Precision LM is especially important as additional regulations continue to be implemented."
(Source – Cision PR Newswire)
Constellation thinks the new system will make the lending process faster and more accurate, bring in more money, and help the company manage risks better. Additionally, the cloud-based platform that Precision LM offers will help reduce the workload for Constellation's IT division.
Bhagesh Malde, General Manager and Global Head of SS&C GlobeOp, remarked, "SS&C is committed to providing innovative software and value-added services to commercial real estate lenders and insurance companies."
"This complex industry is evolving with increasingly complex stakeholder expectations. With our deep domain expertise and superior technology, we simplify commercial loan management for clients," he concluded.
(Source – Cision PR Newswire)
SS&C's Precise LM software also helps more than 130 banks, insurance companies, real estate investment trusts, and debt funds with lending.
About Constellation Insurance
Constellation Insurance, Inc., a leading insurance holding company, serves consumers and small business owners in the US and Latin America through its insurance subsidiaries - Ohio National Life Insurance Company, Ohio National Life Assurance Corporation, National Security Life and Annuity Company, and other affiliated (re)insurance entities in Latin America and the Cayman Islands. As of September 30, 2022, its insurance firms managed about $34 billion in assets. Furthermore, Constellation's equal partners, CDPQ and Ontario Teachers', oversee a combined net asset of roughly C$660 billion. This includes over C$140 billion in private capital investments.
RISK MANAGEMENT, INSURANCE TECHNOLOGY
Embroker | February 24, 2023
Embroker, a digital insurance platform that makes it easy to insure a business, just released a new malpractice and cyber bundle that is specifically made for legal practices.
This package, the company's first vertical offering built on its new ONE by Embroker platform, makes it easy for law firms to obtain customized malpractice and cyber coverage.
Ben Jennings, Chief Revenue Officer at Embroker, stated, "Regardless of size, law firms don't just want to 'tick' the insurance box; they need a strategic partner to create products where risk is dynamically modeled and tailored to their biggest exposure areas."
He further added, "This law liabilities and cyber bundle does exactly that, and represents the first of multiple vertical-specific bundles we'll be launching on ONE by Embroker in the coming months."
(Source – Business Wire)
Law companies' databases include massive volumes of personal and sensitive customer data, making cybersecurity breaches severe. After answering a few questions, law firms can identify their coverage needs and receive customized liability and cyber policy quotations. Custom product packaging, level pricing transparency, and one application for various coverages let them receive the proper coverage faster and easier.
ONE by Embroker uses AI and machine learning to synthesize and mix business insurance solutions depending on industry demands, simplifying the insurance buying process. Embroker's ONE by Embroker universal application and strong vertical expertise create a unique, streamlined shopping experience for legal professionals in this law package. It's suitable for companies of all sizes, but those with 25 attorneys or fewer are the most underserved by conventional brokers and carriers.
Due to these expanding concerns, many organizations are now carefully assessing their cyber exposure and adding cyber insurance to their cyber hygiene activities.
Embroker simplifies smart business insurance. It saves time and money by integrating technology and broker knowledge. Embroker, the largest internet insurance broker, wants to improve the $800 billion P&C insurance market. The company services customers in all 50 states from its San Francisco, Chicago, and Boston headquarters. According to Goldman Sachs and CB Insights, it is one of the innovators shaping the future of finance.