Protective Life | March 22, 2022
Protective Life Corporation announced today that its subsidiary Protective Life Insurance Company (“Protective Life”) would acquire AUL Corp, a leading automotive finance and insurance provider. Protective Life Corporation is a well-known U.S. subsidiary of Dai‑ichi Life Holdings, Inc.
With a national footprint of agents and dealers, an experienced team in the vehicle service contract business in addition to distribution channel growth opportunities in the higher-mileage and the financial institution space, AUL’s product portfolio is a strong complement to Protective’s Asset Protection Division. Our Asset Protection Division has grown steadily through acquisitions and organic growth over recent years. It continues to be an essential part of our business, and we look forward to continuing the momentum with the acquisition of AUL.”
Rich Bielen, President and CEO of Protective.
AUL is enthusiastic about the opportunity to join the Protective family. Combining Protective’s resources and reach with our rapidly growing platform will allow us to provide more robust solutions for our agents and dealers. Protective and AUL also align in our focus on culture and opportunities for our employees, contributions to our communities, and award‑winning customer service. We’re excited to move forward together.”
Jimmy Atkinson, President and CEO of AUL.
Protective Asset Protection will offer guaranteed asset protection and ancillary products to protect consumers’ investments in automobiles, recreational vehicles, extended service contracts, watercraft, and powersports vehicles. In addition to this, it will also offer an incredible portfolio of dealer participation programs solutions regarding training and technology through a network of general agents and a direct sales force.
Meanwhile, Protective Asset Protection holds significant importance in the policy industry as it has served customers for 60 years by offering multiple and various insurance products. Whereas AUL, founded in 1990, is also a pioneer name in the industry and serves its customers with the finest solutions for insurance, service guarantee, and asset protection services.
AUL is an established industry leader in the automotive finance and insurance space. It offers a full suite of products and services for agents and their dealers. Through this acquisition, we are excited to continue growing Protective Asset Protection by serving the needs of more agents, dealers, and consumers across the country.”
Scott Karchunas, president of Protective Asset Protection.
Therefore, subject to the receipt of regulatory approvals and satisfaction of customary closing conditions, the closing of the acquisition is anticipated to happen in the second quarter of 2022.
Sapiens International Corporation | November 04, 2020
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, today announced the launch of IDIT Go, a pre-configured, cloud-native solution that streamlines implementation and operations, enabling general (non-life) insurers to rapidly launch new offerings. The completeness of the solution, together with Sapiens' agile methodologies, deliver tangible business benefits within a very short time frame, at a fixed price.
Sapiens' fully digital solution, IDIT Go, is a cloud-first platform that delivers benefits only the cloud can provide, including streamlined upgrades, 24/7 accessibility from anywhere, increased operational efficiencies and security. By also providing full managed services in the cloud, Sapiens enables insurers to focus on their core business objectives without worrying about IT.
IDIT Go can be deployed within just a few months, with complete core PAS capabilities. IDIT Go is a new, pre-configured version of the Sapiens IDITSuite core insurance solution and provides access to a diverse array of product configurations for personal and commercial lines.
Designed to offer 'plug 'n play' business functionality and enhanced user experience, IDIT Go provides the following key benefits: faster time to market based on low-code architecture, digital-first configurable portals, resilient policy administration system (PAS), and cloud-native benefits and scalability for future growth.
"Empowering insurers in their quest to be more agile and adapt to ever-changing market requirements is at the core of Sapiens' mission. IDIT Go is a scalable solution that serves as a catalyst for growth," said Roni Al-Dor, Sapiens president and CEO. "IDIT Go leverages our depth of industry expertise, innovative technology and robust capabilities to ensure we support our clients' needs in every step of their digital transformation and assist them to achieve a rapid time to value."
IDIT Go also features a menu of open APIs, which offers P&C providers full access to Sapiens' insurtech ecosystem, enabling the quick addition of tools for customer engagement, sales and marketing, product enhancements and more. IDIT Go serves established industry players, greenfield insurers and digital startups alike. The solution offers multi-lingual, multi-currency and multinational functionality.
Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers' compensation and financial markets. With more than 35 years of experience delivering to more than 500 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements.
Hub International Limited | November 08, 2021
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Calculated Risk Advisors, LLC (Calculated Risk Advisors). Terms of the transaction were not disclosed.
Located in Chicago, Illinois, Calculated Risk Advisors is a boutique risk consulting firm and professional liability insurance brokerage, which supports its clients on alternative risks, complex insurance and errors and omissions. Tom Firestine, Managing Principal, and the Calculated Risk Advisors team will join Hub Midwest West.
About Hub's M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.