GEICO and Progressive positioned to take State Farm's dominant insurance position by 2021- 23

GEICO | July 17, 2020

A new report by Fitch Ratings reveals that not only are US personal line insurers expected to see underwriting profits this year despite the pandemic, but there could be soon a reshuffle of America’s top insurers. The report said that the ongoing pandemic is “substantially affecting” the insurance industry in terms of underwriting and investment. Personal line insurers, in particular, are heavily impacted by the decline in risk exposures related to changes in economic and social activity, Fitch Ratings said. These changes include reductions in drivers’ miles, which have led to falls in near-term claims frequency for auto insurers, boosting their profits.

Spotlight

As insurance executives seek to better manage customers, loss ratios and risk & compliance, while ensuring profitability, actionable analytics is emerging as a critical success factor contributing to industry differentiation. Despite the emergence of technologies and applications in business intelligence and analytics, many insurers still struggle with how to access, integrate and analyze data from a variety of legacy systems. Organizations that are able to leverage analytics will be positioned to achieve a sustainable competitive advantage. In the near future, analytics will play a vital role in helping insurance executives navigate the technical and operational complexities to accelerate time-tovalue from such investments.

Spotlight

As insurance executives seek to better manage customers, loss ratios and risk & compliance, while ensuring profitability, actionable analytics is emerging as a critical success factor contributing to industry differentiation. Despite the emergence of technologies and applications in business intelligence and analytics, many insurers still struggle with how to access, integrate and analyze data from a variety of legacy systems. Organizations that are able to leverage analytics will be positioned to achieve a sustainable competitive advantage. In the near future, analytics will play a vital role in helping insurance executives navigate the technical and operational complexities to accelerate time-tovalue from such investments.

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WORKERS COMPENSATION

Simply Business Partners with biBERK to Offer Workers' Compensation Coverage to Small Business Customers

Simply Business and biBERK | September 27, 2022

Simply Business, LLC., a Boston-based digital insurance agency focused on small businesses, today announced the launch of a partnership with biBERK Business Insurance, a Berkshire Hathaway company, to offer workers' compensation products online to small business owners in the United States. Through this new partnership, small business owners can receive a biBERK workers' compensation quote through the Simply Business website. They also have the option to digitally bind policies and speak to a licensed insurance agent to ensure that the coverage they've selected best meets the needs of their business. "We're committed to helping small businesses grow by providing specially tailored insurance solutions, and this new partnership makes it easier for our customers to get exactly what they need, With the help of biBERK, we're able to provide more comprehensive coverage to entrepreneurs across the country." -David Summers, Group CEO of Simply Business This offering is currently available to small business owners in Washington D.C. and all 46 states where private carriers are eligible to operate. About Simply Business Simply Business is changing the way small business owners find business insurance by offering customers tailored insurance coverage online. The company began in the United Kingdom and expanded to the United States in 2017, naming Boston home. With over 850,000 customers globally, Simply Business has become a leader in the space through its commitment to a customer-first model, focusing heavily on simplicity, choice and value. biBERK biBERK is a small business insurance company that's part of the Berkshire Hathaway Insurance Group. All of Company's major insurance subsidiaries are rated A++ by A M Best Company with millions of customers and over 75 years of insurance experience.

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CORE INSURANCE

Erie Insurance 'Future Focus' program recognized as a RISE Elite 50 industry internship program

Erie Insurance | September 20, 2022

The Erie Insurance (ERIE) Future Focus internship program has been named to the Rising Insurance Star Executive (RISE) list of the insurance industry's 50 best internship programs in 2022. This is the second consecutive year that ERIE has been honored. ERIE's summer internship program offers opportunities for college students to gain relevant and real-world business experience in the insurance industry and at a Fortune 500 company. "We're excited to be included on the RISE Elite 50 list for the second consecutive year. Our interns often tell us that our program is a premier offering in the industry, and this recognition is certainly a bonus, Year after year, the most impactful feedback comes directly from our interns, who, through an overwhelming response to our end-of-program survey, gave our 'Future Focus' program an average satisfaction rating of 4.8 out of 5 this year." -JR Wilwohl, talent acquisition partner and ERIE's internship program coordinator ERIE's internship program, which began more than 20 years ago and has helped launch the careers of hundreds of current ERIE employees, offers paid, competitive internships across several areas of the company. According to Jon O'Camb, talent acquisition manager, ERIE's Future Focus internships are one of the company's largest pipelines for early career talent and ERIE is committed to growing diversity within its talent pool. Our commitment to celebrating and valuing diversity continues, and our internship program is an extension of that. We're widening our talent pipeline by strengthening relationships with historically Black colleges and universities across ERIE's footprint and working with ERIE's affinity networks and DEI leadership to help further reach diverse candidates, Once our interns are hired, we also provide them with multiple opportunities to engage with our company's DEI and community outreach teams and encourage them to become active in ERIE's nine employee affinity networks during their internship with us,said O'Camb. In 2022, more than 100 ERIE interns worked in ERIE's IT, Underwriting, Risk Control, Actuarial, Data, Sales & Marketing, Claims, Corporate Services, Customer Service, Finance, Accounting, Internal Audit, Investments and ERIE Experience departments. Rising Insurance Star Executive (RISE) is an industry group founded to help bridge the talent gap by recognizing and advancing the best young talent in the insurance industry. There is nothing more impactful to building the talent pipeline for the Insurance Industry than our internships, Companies can test drive talent, learn from fresh perspectives, expose young professionals to their brand, foster leadership in current employees, and the list goes on. Interns gain real world experience, learn about their strengths and weaknesses and gauge whether a job or industry is the right career for them,read an announcement of the annual list from RISE. About Erie Insurance According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer, 13th largest automobile insurer and 13th largest commercial lines insurer in the United States based on direct premiums written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 19th largest property/casualty insurer in the United States based on total lines net premium written. Rated A+ (Superior) by A.M. Best, ERIE has more than 6 million policies in force and operates in 12 states and the District of Columbia.

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INSURANCE TECHNOLOGY

Breeze Disability Insurance Platform Now Available to Appalachian Underwriters Network

Breeze and Appalachian Underwriters | September 05, 2022

Breeze, the insurtech simplifying how disability insurance is bought and sold, announced today a new partnership with leading insurance wholesaler Appalachian Underwriters, Inc. (AUI). Health-licensed agents and brokers partnered with AUI can now use Breeze's turnkey disability insurance platform to rapidly scale income protection sales. Breeze's proprietary technology makes it possible to quote disability insurance in seconds and submit client applications in minutes – entirely online. Breeze also handles case management, making this new partnership a low-strain, high-growth opportunity for AUI's partner agents. "Whether you're focused on home, auto, health or life insurance sales, income protection is a natural next conversation for agents and advisors. We're thrilled that Appalachian Underwriters has selected Breeze to power their disability income insurance offerings, and we look forward to supporting their agents," - Colin Nabity, CEO & co-founder of Breeze AUI has an impressive network of around 30,000 insurance agencies comprising roughly 70,000 agents. It was recently ranked the fifth largest MGA in the country by Business Insurance. We're extremely excited to partner with Breeze to continue our mission to support our agents and agency partners with diverse new product solutions and tools that increase efficiency, After seeing strong success with our recent entrance into the life insurance space, the partnership with Breeze is perfect to represent AUI's first voyage into the health market,said William Chambers, Director of Digital Partnerships at Appalachian Underwriters. With AUI already having strong commercial P&C and workers' compensation lines, disability insurance through Breeze should fit nicely into the wholesaler's newly-launched health business. Small business owners and employees could find financial peace of mind in disability insurance that protects their income against injuries and illnesses that happen on and off the job. Breeze currently offers two long-term disability insurance products, short-term disability insurance, and critical illness insurance. AUI's health-licensed agents and brokers can seamlessly and near-effortlessly offer any of these products to their clients via Breeze's simple online platform that uses predictive analytics to expedite underwriting. Despite the average employee being 3.5 times more likely to need disability insurance instead of life insurance during their career, just 14% of consumers own disability insurance due to an overly-complex application process that has kept both buyers and sellers away. Breeze has simplified disability insurance and is now uniquely-positioned to be the leader in an untapped market. The partnership with Appalachian Underwriters is a major step towards making disability insurance accessible for a range of workers. About Breeze Breeze is an online insurance broker simplifying how disability and critical illness insurance are bought and sold. Leveraging industry expertise and innovative technology, our team is building a better way to distribute income protection insurance for life's most financially vulnerable moments like cancer, depression, and bad accidents. Policies offered through Breeze replace a portion of a policyholder's regular income and can be used to help with large medical bills, mortgage payments, groceries, and more. Breeze currently offers long-term disability insurance, short-term disability insurance, and critical illness insurance. About Appalachian Underwriters Appalachian Underwriters, Inc. (AUI) is a full-service MGA and wholesale insurance brokerage, providing independent agents a national outlet to multiple specialized markets for workers' compensation, commercial, life, and personal lines of insurance. Appalachian Underwriters is wholly owned by Acrisure, LLC.

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