Cision PR Newswire | October 13, 2020
Many interactions between businesses hinge on the ability for one party to provide a proof of insurance to the other. For example, delivering commercial shipments, accessing construction sites, or renting a commercial space each require handing over paper attesting to your insurance coverage. HawkSoft is partnering with the dynamic verification platform Certificial to bring a more modern solution to independent agencies. Never before has insurance coverage data been able to connect and send dynamic updates directly to certificate holders. This end-to-end visibility not only eliminates fraud and the misuse of forms but can improve compliance. Certificial uses cloud technology to offer a digital and dynamic proof of insurance. Instead of the old static point-in-time Certificates of Insurance, Certificial allows companies of all sizes to directly monitor, in real time, that a person or business are properly insured. When integrated with the HawkSoft agency management system, insurance agencies can keep Certificial in sync with their client and policy data automatically.
Midwest Holding Inc. | January 13, 2022
Midwest Holding Inc. (NASDAQ: MDWT), a technology-enabled, services-oriented annuity platform, announced today that its subsidiary American Life & Security (ALSC) will begin offering exclusively to American Life's Fixed Index Annuity policy holders the Goldman Sachs Xenith Index.
The Goldman Sachs Xenith Index is a multi-asset strategy that uses the anticipated macro regime, as identified by a leading economic indicator, to make asset allocations. By using a leading economic indicator, the Goldman Sachs Xenith Index differs from indices that rely on a backward-looking methodology alone. Instead of relying purely on the S&P 500 Index for exposure to U.S. equities, the index employs an intraday overlay that can reduce equity exposure based on intra-day trading "signals". As a result, the strategy incorporates real-time market movements, in addition to other factors, in its rules-based methodology.
Depending on the prevailing market regime, the Goldman Sachs Xenith Index also provides commodity exposure by switching between copper and gold based on anticipated economic growth. In addition, regardless of the economic regime, the Goldman Sachs Xenith Index provides constant exposure to a long-short strategy taking positions on different points of the commodity curve in an attempt to capture performance that may be less correlated to other asset classes.
"The Goldman Sachs Xenith Index is quite meaningful to Midwest Holding and American Life as we are one of just a few select insurance providers offering this type of index. We are glad to be positioned front and center, as we collectively bring a new opportunity with strong potential to our investors,"
- Midwest Holding President and Chief Investment Officer Mike Minnich.
"Goldman Sachs is pleased to license the Goldman Sachs Xenith Index to American Life & Security. This is our first index licensing engagement with American Life and we are excited about working with their team"
- Pratik Pareek, Head of Insurance Equity Derivative Sales at Goldman Sachs.
About Midwest Holding Inc.
Midwest Holding Inc. is a technology-enabled, services-oriented annuity platform. Midwest designs and develops in-demand life and annuity products that are distributed through independent distribution channels, to a large and growing demographic of U.S. retirees. Midwest originates, manages and transfers these annuities through reinsurance arrangements to asset managers and other third-party investors, who are actively seeking these financially attractive products. Midwest also provides the operational and regulatory infrastructure and expertise to enable asset managers and third-party investors to form, capitalize and manage their own reinsurance capital vehicles.
About American Life & Security Corp.
American Life & Security Corp. is a wholly owned subsidiary of Midwest Holding Inc. In 2018, the company was recapitalized and reimagined by a team of seasoned insurance, technology and investment experts with a new purpose - build a platform on modern technology with simplicity, transparency and cost efficiency to remedy inefficiencies in the life and annuity industry.
FCCI Insurance Group | June 20, 2020
P&C insurer FCCI Insurance Group is expanding its commercial insurance business into the state of Pennsylvania, where it will begin writing insurance starting September 01, 2020. Prior to expanding its commercial insurance business in the state, FCCI had been providing Pennsylvania with commercial and contract surety since 2015. The business expansion brings the total number of states in which FCCI operates to 20, as well as the District of Columbia. FCCI began accepting new business submissions from appointed agents in the state on June 15, 2020.