Frederick Mutual enters commercial agreement with AI start-up

Frederick Mutual Insurance | September 18, 2019

Frederick Mutual Insurance Company has signed a commercial agreement with Betterview – a start-up that develops solutions for the property insurance market – to leverage the latter’s AI-powered property risk management platform. Terms of the agreement were not disclosed. Through the agreement, Frederick Mutual will utilize Betterview’s property analytics to enhance the lifecycle of its policies – from loss control and underwriting to claims and catastrophe response. Betterview’s platform is used by personal lines and commercial lines carriers to identify and score roofing conditions, as well as other related property risks. The start-up makes this possible through the use of machine learning and computer vision to analyze aircraft and satellite imagery. The data from the images is then combined with data on building records and weather history to determine the roofing’s characteristics and condition, as well as the risk of future loss.

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We partnered with BetterPlace to offer healthcare to millions of blue-collar and gig economy workers. Through integrating with XCover, our award-winning distribution platform, tailored protection can be created and distributed in one place, delivering a simplified and accessible healthcare experience for workers.

Spotlight

We partnered with BetterPlace to offer healthcare to millions of blue-collar and gig economy workers. Through integrating with XCover, our award-winning distribution platform, tailored protection can be created and distributed in one place, delivering a simplified and accessible healthcare experience for workers.

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Higginbotham Enters Missouri by Joining Forces with Connell Insurance

Connell Insurance and Higginbotham | December 06, 2022

Connell Insurance is the first agency in the state of Missouri to join Higginbotham, an insurance, financial and HR services firm ranked among the largest independent brokers in the U.S. Connell Insurance is one of the largest and fastest growing locally-owned property/casualty insurance and employee benefits brokers in southwest Missouri. The deal adds a 14th state to Higginbotham's footprint and gives Connell Insurance increased customer support that includes loss control, employee benefit plan services and human resources. Higginbotham is strategically growing to expand its reach and increase its service capability by selectively partnering with other independent agencies that have strong reputations in their local markets, a desire to keep growing by tapping into its single source solution and a strong cultural match. Connell Insurance has two Missouri offices in Branson and Springfield, with a combined 38 employees with immediate plans to hire more to accommodate growth. It's led by practicing insurance and employee benefits consultants Casey Chastain, Jay Hickman, Tom Jensen and Chase Marable. "We see Higginbotham as a larger version of our firm. We position ourselves as 'agents of change,' adapting to new market trends and evolving our model as the business environment changes. To be a long-term partner for our clients, change is essential, and joining Higginbotham is part of that strategy. The value-added services for our clients, the future growth opportunities for our firm and the ability to partner with a privately held organization that offers employee ownership are all welcome changes." -Connell Insurance's leadership, Jensen Higginbotham Chairman and CEO Rusty Reid said, We have offices in the states that border south Missouri, so we had our sight set on finding the right partner to help establish our presence there. Connell Insurance being one of the fastest-growing insurance agencies in the region is what prompted our interest, because obviously they're doing something right. The decision to cement our partnership was driven by their alignment with our people-first culture and forward-thinking attitude. Higginbotham gave the title of managing director to all four of Connell Insurance's leaders, and they will continue guiding their team. About Connell Insurance Connell Insurance is a property/casualty insurance and employee benefits brokerage firm that provides solutions that help companies and individuals manage risk. Established in 1970, Connell Insurance today is one of the largest locally-owned insurance brokers in southwest Missouri. It has concentrated experience in the public entity, manufacturing, transportation, social services, construction and hospitality sectors. About Higginbotham Employee owned and customer inspired, Higginbotham is a single source solution for insurance, financial and HR services. The firm was established in 1948 and ranks by revenue as the nation's 21st largest independent insurance firm. Serving thousands of businesses and individuals through locations coast-to-coast, Higginbotham's approach to finding insurance, employee benefit and risk management solutions is more individual and less institutional. By understanding customer priorities, eliminating inefficiencies and committing to transparency, Higginbotham is a place that leads with values so value leads.

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Hildene Capital Launches $1 Billion Reinsurer

Hildene Capital Management | November 25, 2022

Hildene Capital Management, LLC (“Hildene”), a $12 billion credit-focused asset manager, today announced the formation of Ludlow Re SPC, Ltd. (“Ludlow Re”), a Cayman Islands-based, Class B(iii) insurance company. Ludlow Re will offer reinsurance to the global insurance market and, as part of its inaugural transaction, will reinsure approximately $1 billion of fixed index annuity reserves through a quota share agreement entered into with a U.S.-based life insurance carrier. “Given its ability to provide long-term, flexible capital, Ludlow Re optimizes Hildene’s robust asset management capabilities, helping us as we seek to enhance returns for our investors, Since Hildene’s inception in 2008, we have taken a prudent approach to managing the size and scale of our assets and will continue to execute on this approach with Ludlow Re — opportunistically adding to our portfolio only when we believe we can confidently invest in assets that produce attractive returns for our clients.” -Brett Jefferson, Founder and Co-Chief Investment Officer of Hildene. Hildene’s structured credit assets, particularly TruPS CDOs, align well with the duration and liquidity profile of life and annuity insurance liabilities, We believe insurers and asset managers can benefit from a symbiotic relationship — money managers receive access to insurers’ expansive capital base while insurers receive access to sophisticated investment opportunities they may not have otherwise,added Dushyant Mehra, Co-Chief Investment Officer of Hildene. Ludlow Re received its B(iii) insurance license from the Cayman Islands Monetary Authority in September 2022. About Hildene Capital Management Founded in 2008, Hildene Capital Management, LLC is a diversified institutional asset manager specializing in asset-based and credit opportunities. Hildene Co-CIOs Brett Jefferson and Dushyant Mehra are backed by a senior investment team with a long and established track record of investing across various credit and distressed cycles, leveraging their expertise in managing complex assets. Today, Hildene manages over $12 billion for a broad range of clients across its flagship private funds, tailored managed accounts and securitized asset structures.

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Utah Business Insurance Company Wins Award for “Data and Analytics Innovator of the Year” at Excellence in Insurance Innovation, Sponsored by Insurity

Insurity and Utah Business Insurance Company | November 10, 2022

Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced that Utah Business Insurance Company (UBIC) is the recipient of the “Data and Analytics Innovator of the Year” award at Excellence in Insurance Innovation. The Excellence in Insurance Innovation awards ceremony took place in Las Vegas. It recognized the outstanding performances of P&C organizations in categories including exceptional policyholder service, digital transformation, and excellence in data and analytics. UBIC is a monoline workers’ compensation carrier that serves roofers, framers, and excavators, and it needed to be strategic in how it deployed resources in a traditionally high-risk sector. They effectively navigated these complexities using Insurity Predict’s real-time predictive insights and data consortium to process a significantly higher volume of submissions. “UBIC is a data-driven company, and we have fostered a culture around predictive modeling thanks to the ease of using Insurity Predict, We brought the Insurity Predict model into play just a few years ago, transforming how we do business. We went from running loss control on every risk to deploying our resources across submissions more intelligently. Instead of spending time servicing every account the same way, we now tailor these experiences for our policyholders based on the predictive risk scores.” -Tyler Nielsen, Chief Operating Officer at UBIC One of the ways UBIC innovated with this model was by extracting the data from the Insurity Predict system and integrating it with their business intelligence platforms. This way, everyone from the underwriters to loss control to customer service has access to this data in their reports. The sheer volume of data that insurance organizations have can overwhelm and make it difficult to write new business and quickly make the right underwriting decisions, Using the Insurity Predict Model, UBIC has made strides in leveraging predictive data and analytics to manage their risk portfolio better, giving them the ability to assess risk much more quickly and accurately over the long term,said Sylvester Mathis, Chief Insurance Officer at Insurity. About Insurity Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 15 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform and with unrivaled industry experience and the industry’s most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates. About Utah Business Insurance Company Based in South Jordan, Utah, UBIC has become an insurance industry leader in workers' compensation. UBIC is dedicated to meeting the needs of its agents and policyholders with a strong emphasis on providing outstanding customer service and results-oriented risk management programs.

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