Gallagher starts the year with insurance agency acquisition in NY

Gallagher | January 03, 2020

Arthur J. Gallagher & Co. has acquired Walsdorf Agency in Huntington, NY. Terms of the transaction were not disclosed. Walsdorf Agency, founded in 1926, is a third generation, family-owned commercial and personal lines insurance agency; a release noted that the agency has “strong real estate niche expertise.” Following the acquisition, David L. Walsdorf, Louis J. Walsdorf and their associates will be relocating to Gallagher’s Jericho, NY office. They will be working under the supervision of Gallagher Northeast region retail P&C brokerage operations head Patrick Kennedy.

Spotlight

History of insurance dates back to early human society. Granaries were the earliest form of insurance (riskpooling) which over time adapted by merchants to transport their products on ships. And, in 1968, Lloyds was born in a coffee house. Between 1968 and today, the insurance industry has been working on four fundamental principles of insurance and among them the most prominent is ‘utmost good faith’ or ‘Uberrima fides’. Although the insurance business runs on TRUST, but it has been breached by several times, due to which many insurance companies have paid the fraudulent claims, due to lack of evidences.

Spotlight

History of insurance dates back to early human society. Granaries were the earliest form of insurance (riskpooling) which over time adapted by merchants to transport their products on ships. And, in 1968, Lloyds was born in a coffee house. Between 1968 and today, the insurance industry has been working on four fundamental principles of insurance and among them the most prominent is ‘utmost good faith’ or ‘Uberrima fides’. Although the insurance business runs on TRUST, but it has been breached by several times, due to which many insurance companies have paid the fraudulent claims, due to lack of evidences.

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LIFE INSURANCE

Policygenius and CBIZ Announce Partnership to Expand Life Insurance Offerings and Empower Agents to Place More Term Life Coverage

Policygenius and CBIZ | October 04, 2022

Policygenius and CBIZ announced today a partnership to bring Policygenius Pro, a term life fulfillment platform, to CBIZ's extensive network of insurance professionals. Policygenius Pro is a turnkey partnerships platform that helps advisors accelerate and streamline life insurance sales. With this tool, advisors can refer their clients to Policygenius to take them through the process, from finalizing policy selection to placing coverage in-force. This partnership enables CBIZ to expand its term life insurance offerings by giving their clients access to Policygenius' wide variety of insurers and policy options, including accelerated underwriting offerings exclusively available on the Policygenius platform. CBIZ plans to harness Policygenius' award-winning services for term life cases that are a great match for these services, enabling them to better focus on other goals. This ultimately provides clients with the best service possible, while also helping CBIZ save time and make their term life production more profitable. "Policygenius Pro gives us a way to both expand and streamline our term life production, We trust Policygenius Pro to provide top-tier service to our clients while also empowering our agents to have more thorough and holistic conversations about life insurance." -Anne Long, RICP and President of Life Insurance Solutions at CBIZ The partnership is initially rolled out to CBIZ advisors who have each been equipped with unique landing pages and engagement tools to launch into life insurance conversations with their clients. They can take advantage of Policygenius' expansive carrier shelf to provide clients with a breadth of coverage options and confidently discuss how these may fit in with their larger financial plans. With Policygenius Pro, CBIZ agents and clients receive support from an expert staff of 200+ dedicated specialists for case management, underwriting, and product support. To date, the platform has helped partners cut placement times by half, on average, and reduced the average time an advisor spends on an application from 2.5 hours to about 15 minutes. Advisors often shy away from placing term life coverage for their clients because it can be so time- and cost-intensive. CBIZ is different. They've made it their mission to provide both robust and personalized financial guidance for their clients, including the right life insurance coverage, We're thrilled to be able to partner with such a forward-thinking organization that values the customer experience and trusts us to be the life insurance fulfillment partner for their customers,said Jennifer Fitzgerald, CEO and co-founder of Policygenius. About Policygenius Pro Policygenius Pro is a turnkey partnerships platform that helps independent agents and financial advisors accelerate and streamline life insurance sales. With this program, Policygenius provides its one-stop-shop insurance solution to financial advisors, independent agents, community banks, credit unions, and more, with the goal of helping partners' clients get the insurance coverage they need. Partners receive access to a wide variety of insurers, coverage types, and policy options, including accelerated underwriting offerings exclusively available on the Policygenius platform. About Policygenius Policygenius transforms the insurance journey for today's consumer, providing a one-stop platform where customers can compare options from top insurance carriers, get unbiased expert advice, buy policies, and manage their insurance portfolio, in one seamless, integrated experience. Our proprietary technology platform integrates with the leading life, disability, and home and auto insurance carriers and delivers an exceptional digital experience for both consumers and insurance carriers. Since 2014, our content, digital tools, and experts have served as a resource for millions of people on their insurance journey, and we have sold more than $170 billion in coverage. About CBIZ CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services, including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting and executive recruitment. As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company's services are provided through more than 100 Company offices in 33 states. About CBIZ Life Insurance Solutions CBIZ Life Insurance Solutions, Inc. is a full-service brokerage general agency with a 40-year legacy. We offer solutions utilizing life insurance, annuities, long-term care, disability, executive benefits and life settlements. We take advantage of our unique access to seasoned professionals servicing other products lines within the broader CBIZ organization. In addition, we continue to support and grow our legacy relationships with independent producers. Our industry intelligence is carefully integrated to help ensure the most favorable result is obtained.

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CORE INSURANCE

CoverEase Partners With Beam Benefits

CoverEase and Beam Benefits | October 07, 2022

CoverEase, a digital insurance broker, announced today a partnership with the digitally-native employee benefits provider, Beam Benefits, via the addition of Beam's dental and vision products to their digital platform. CoverEase is the first company in the United States to offer businesses the ability to get instant online dental and vision quotes for their employees. The new integration adds Beam's dental and vision options to the company's marketplace which quotes workers' compensation, business liability and property, cyber liability insurance, group health insurance and term life insurance for up to $2 million in coverage. CoverEase CEO Shawn Edgington shared her excitement for the future of CoverEase with the incorporation of Beam, As our platform evolves and expands with additions like Beam Benefits, we're able to accelerate innovation, reduce costs, and save business owners time and money. "Beam is thrilled to partner with CoverEase, a proven leader in the employee benefits ecosystem, Through our integration, businesses using CoverEase can access dynamic & transparent dental and vision benefit pricing. We are excited about the technology enabling this partnership, and look forward to working further with CoverEase and their customers." -Alex Frommeyer, Co-founder and CEO of Beam Benefits CoverEase uses decades of best practices research, plus today's most advanced InsurTech to un-complicate the complicated. This approach results in a lightning fast, easy and awesome way to shop, compare, and buy business insurance and employee benefits. About CoverEase: CoverEase, a digital insurance broker, has reinvented the way businesses shop, purchase, and save on the insurance products that businesses need most. CoverEase utilizes an online "Amazon-like" shopping experience with unmatched quotes from the best insurance brands in the country. CoverEase, headquartered in Livermore, California, with offices in New York, is WBENC certified and led by CEO Shawn Marie Edgington. About Beam Benefits: Beam Benefits is a digitally-native employee benefits company that offers dental, vision, life, disability, and supplemental health coverage for employers of all sizes. The company simplifies and modernizes the $100+ billion ancillary benefits industry through its intuitive online platform, self-service tools, AI-powered underwriting, and thoughtful coverage for improved overall wellness. Its Beam Perks™ program* offers incentives to members and rewards them for healthy behaviors. Beam has raised over $160 million in funding and is available in 44 states across the U.S.

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CORE INSURANCE

Riskonnect Named in Business Insurance’s Best Places to Work in Insurance Program for Second Consecutive Year

Riskonnect | September 17, 2022

Riskonnect, the leader in integrated risk management (IRM) solutions, today announced it has been named in Business Insurance’s annual Best Places to Work in Insurance program, which recognizes employers for their outstanding performance in establishing workplaces where employees can thrive, enjoy their work, and help their companies grow. “It’s a huge honor to be recognized once again as one of the Best Places to Work in Insurance. The accolade is a testament to our team’s dedication to creating an incredible and empowering work environment at Riskonnect, Every day we aim to foster a positive culture where our team is inspired, encouraged, and poised to deliver the best service to customers and help them manage risk under one roof.” -Kevin Crow, chief human resources officer at Riskonnect Best Places to Work in Insurance is an annual program that highlights the agents, brokers, insurance companies, and other providers with the highest levels of employee engagement and satisfaction. The leading employers in the insurance industry are identified through a two-part assessment of each company. The first part is a questionnaire completed by the employer about company policies, practices, and demographics. The second part is a confidential employee survey on engagement and satisfaction. This achievement follows several others for Riskonnect, including being named one of the UK’s Best Workplaces™ for Women and certified as a Great Place to Work® in the United Kingdom by Great Place to Work®. The Company was also named a Best and Brightest Company to Work For® by the U.S. National Association for Business Resources in Atlanta and Chicago for the fourth consecutive year. About Riskonnect Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 2,000 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 800 risk management experts in the Americas, Europe, and Asia.

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