G&M International unveils accident & health proposition

Insurance Business America | April 05, 2019

Lloyd’s broker G&M International has rolled out its worldwide accident & health offering designed for a wide range of occupations including the likes of firefighters, medical practitioners, and expatriates. “We are proud to have the ability to develop our accident & health business – creating bespoke, niche solutions for our clients both in the UK and internationally,” commented Graham Roberts, London Market broker for G&M International. “We have access to and full support of certain Lloyd’s syndicates and also A+ rated London carriers.” Cover options include duty of care insurance and trauma insurance, as well as kidnap & ransom and accidental death. Citing data from the Health and Safety Executive, G&M International said 1.4 million people in the UK suffered from a work-related illness in the 2017-2018 period while over half a million injuries occurred at work.

Spotlight

Decades ago, a group of merchants created a concept of general average—which is when all parties in a maritime venture share in losses resulting from a sacrifice of cargo in an emergency. What this group fashioned in 1890 was a method for merchants to insure their shipped goods. Upon landing, merchants whose cargo landed safely were expected to contribute a portion to merchants whose goods had been lost at sea. With this, an early form of insurance was born.

Spotlight

Decades ago, a group of merchants created a concept of general average—which is when all parties in a maritime venture share in losses resulting from a sacrifice of cargo in an emergency. What this group fashioned in 1890 was a method for merchants to insure their shipped goods. Upon landing, merchants whose cargo landed safely were expected to contribute a portion to merchants whose goods had been lost at sea. With this, an early form of insurance was born.

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INSURANCE TECHNOLOGY

Styra Announces Styra Run, a New Application Authorization Service for Developers, Built on Open Policy Agent

Styra | July 18, 2022

Styra, Inc., the creators and maintainers of Open Policy Agent (OPA) and leader of cloud-native authorization, today announced Styra Run. Designed for application development teams, this new OPA-based authorization service provides enterprise-grade authorization to developers via a simple drop-in API, allowing teams to accelerate time to market, remove ongoing maintenance demands and improve end user experience. Styra Run, using OPA, is the first cloud-hosted application authorization service to completely decouple policy logic and data from the underlying application. This turnkey service frees software developers from the complex, time-consuming tasks of building, maintaining and operating their own authorization capabilities, collaboration features and permissions for each of their applications. Styra Run features: Seamless integration into the application UI, API, and data layer Offloaded storage and global replication of end-user permissions data Pre-built OPA logic for application authorization use cases like adding sharing capabilities for consumer apps or team-based controls for enterprise apps “Styra Run revolutionizes the way that app developers think about and implement authorization for end-users,” said Tim Hinrichs, co-founder and CTO of Styra “Every app on the planet has permissions, access control, sharing or other authorization built in. But by eliminating the need to constantly recreate authorization in each application, Styra Run improves time to market and quality, and provides better features than teams would build themselves. Similar to how ‘Sign in with Google’ eliminated the need for local user identity and passwords, Styra Run eliminates the need for custom built-per-app permission systems, so app developers and product teams can focus on better features and end-user experience.” “Styra Run revolutionizes the way that app developers think about and implement authorization for end-users,” said Tim Hinrichs, co-founder and CTO of Styra Styra Run is hosted, managed and maintained by Styra and is developed by OPA’s creators. OPA is the de facto standard for authorization in the cloud-native environment with over 130M downloads to date, and is used by global organizations such as Goldman Sachs, Atlassian and Pinterest. The current state of SaaS authorization Before Styra Run, access control functionality — such as defining who can edit a document, see photos or create new users within an application — had to be implemented differently for every application, based on the application’s particular coding language and database type. Authorization controls are considered a tier-0 service and thus require high availability, very low latency, global replication and strict consistency guarantees. Building a solution that meets these demands typically requires 6-18 months of work by a team of specialists. Once built, the authorization system must be maintained, upgraded and patched throughout the entire application lifecycle. Styra Run eliminates the need for custom authorization deployment Styra Run provides customers an enterprise-grade authorization service, available via simple drop-in APIs, for companies who build and manage SaaS applications. This service allows end users to control their own account and access permissions, and as such is equally valuable in both consumer and business applications. With Styra Run, organizations can: Speed up time-to-production with a turnkey approach to authorization system development Avoid re-building authorization as SaaS application requirements change Remove the operational burden of replicating permissions data across the world Implement immediate permission updating and access for near-zero latency across all users “We heard firsthand from the OPA community and Styra customers that users needed a faster and better way to implement authorization for multi-tenant SaaS apps – both B2B and B2C,” said Torin Sandall, VP of Open Source at Styra. “OPA already solves the policy logic problem, but the community still needed a way to manage the contextual data that’s required for access decisions — like which roles, groups and permissions should be available to end users. We worked with the OPA community to combine hosted OPA logic, with contextual data management, to give developers a turnkey access control and authorization service that provides immediate, global policy across all their end users.” Styra Run is currently available in private Beta. Those interested in integrating Styra Run into their SaaS application, or using a pre-built sample app for sandbox exploration should contact Styra. About Styra Styra enables enterprises to define, enforce and monitor policy across their cloud-native environments. With a combination of open source (Open Policy Agent) and commercial products (Declarative Authorization Service), Styra provides security, operations and compliance guardrails to protect applications, as well as the infrastructure they run on. Styra policy-as-code approach lets developers, DevOps, and security teams mitigate risks, reduce human error and accelerate application development. Learn more at Styra.

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INSURANCE TECHNOLOGY

Embedded Insurance Platform Mulberri Raises $4M Seed

MULBERRI | July 29, 2022

Mulberri, the business insurance platform for modern PEOs and brokers, announced it has raised a $4 million Series Seed led by a consortium that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio). A shared platform that makes business insurance easier to access and manage, Mulberri will use the funding to continue to expand its infrastructure and data modeling to help make business insurance more simple, efficient, and transparent. “For far too long, business insurance has been stuck in the 20th century, and that has had major ramifications for PEOs and brokers who have wanted modern solutions, but lacked access to them,” said Hamesh Chawla, CEO and co-founder of Mulberri. “For far too long, business insurance has been stuck in the 20th century, and that has had major ramifications for PEOs and brokers who have wanted modern solutions, but lacked access to them,” said Hamesh Chawla, CEO and co-founder of Mulberri. “We’ve been gratified by the enthusiastic response to Mulberri from investors and insurtechs alike. Looking towards the future, we’re excited to continue building out our technology so we can help even more PEOs and brokers reach their highest potential.” The process of buying, selling, and managing business insurance has always been complex, but increasingly it has become too slow. With manual workflows, archaic processes, and low-tech solutions, business insurance processes have lagged behind other insurance sectors, which have embraced automation and data-first approaches. But that’s where Mulberri comes in. Launched in 2021, Mulberri is the first business insurance solution purpose-built for PEOs and brokers. Mulberri’s technology enables PEOs, brokers, and carriers to come together to write business and helps them make intelligent data-driven decisions. “Business insurance processes have been long overdue for an overhaul,” said Jon Soberg, Managing Partner at MS&AD Ventures. “Mulberri recognized this problem and has developed an innovative, streamlined solution.” Mulberri delivers on the speed, transparency, and efficiency that PEOs and brokers have been asking for. The platform provides smart submission intake, automated quote and bind, data-driven insurance management, and easily accessible protection and monitoring services. It also optimizes PEO business workflows, speeds up client acquisition, and provides risk analytics by integrating with multiple systems like HRIS, Payroll and others. “Mulberri’s embedded platform empowers each one of the critical parties –– the SMB, the PEO, the broker, and the carrier –– while meaningfully leveling up automation and ease of doing business for the industry as a whole. Mulberri uses the sort of convolutional neural networks that we have successfully deployed in other industries, from energy to defense,” said Joseph Malchow, founding partner of Hanover Technology Investment Management. “Ultimately, that means a faster-growing book of business and happier customers. Hanover is proud to partner with Hamesh and the Mulberri team to transform business insurance.” ABOUT MULBERRI Mulberri is a pioneering embedded insurtech that is revamping the way insurance is delivered. Launched in 2021, Mulberri is the first business insurance solution purpose-built for PEOs and brokers. Mulberri’s technology enables PEOs, brokers, and carriers to come together to write business and helps them make intelligent data-driven decisions. To learn more, visit https://www.mulberri.io/.

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CORE INSURANCE

Relation Insurance Services Acquires the Assets of Insurance, Inc.

Relation Insurance Services | July 20, 2022

Relation Insurance Services (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of Maryland-based Insurance, Inc. Terms of the transaction were not disclosed. Insurance, Inc. provides personal and commercial lines insurance solutions and employee benefits to clients throughout Maryland and is headquartered in Owings, MD. Amir Krell and Tracy Sutton will continue to lead Insurance, Inc. under Relation going forward. “We are excited to welcome Amir, Tracy and the entire Insurance, Inc. team to Relation,” said Tim Hall, Executive Vice President and Head of Mergers and Acquisitions for Relation. “We are excited to welcome Amir, Tracy and the entire Insurance, Inc. team to Relation,” said Tim Hall, Executive Vice President and Head of Mergers and Acquisitions for Relation. “Insurance, Inc. has provided high-quality insurance services in Maryland, and their diverse offerings of commercial, personal and employee benefits insurance solutions will be an excellent fit at Relation.” About Relation Insurance Services Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services across the United States. It is ranked by Insurance Journal within the top 35 largest agencies in the country by revenue and has approximately 1,200 employees across more than 125 locations nationwide. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology. Visit www.relationinsurance.com for more information.

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