INSURANCE TECHNOLOGY

Great American Insurance Group’s PolicySweet® Introduces Coverage for Home-Based Businesses

Great American Insurance Group | September 20, 2021

Great American Insurance Group is pleased to announce a new product offering through PolicySweet®, its end-to-end online experience for small business customers. PolicySweet, which allows small business owners to research, shop, quote and purchase insurance online, is expanding its coverage to include HomeHQSM, a policy designed for home-based businesses to provide coverage for business liabilities that a homeowners or renters policy does not typically include.

A HomeHQ policy can protect at-home businesses and their owners from the unexpected. Our research indicates that most home-based businesses do not have insurance. HomeHQ is an affordable, easy-to-purchase option for home entrepreneurs, giving them peace of mind that their operations are covered for the most common risks.

- Rich Suter, Divisional President, Great American Alternative Markets.

HomeHQ coverage from PolicySweet is designed for home-based businesses with four or fewer employees, and includes the following coverage:
  • Business Liability Insurance: It may protect against third-party bodily injury, associated medical costs and legal claims filed against your business.
  • Business Property Insurance: It could protect your business from loss due to fire, wind and more. Property liability insurance replaces business property caused by a covered loss.
  • Business Stock Insurance: It may cover the cost of replacing business inventory or merchandise in the event that it is lost, stolen or damaged.

About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of “A+” (Superior) affirmed January 28, 2021. The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.

Spotlight

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Spotlight

Term life insurance vs permanent state farm. To borrow against the savings portion of a permanent life insurance policy, there is usually waiting period after purchase your policy for sufficient cash provides lifelong protection, and ability to accumulate value on a tax-deferred basis. Unlike term insurance, a permanent insurance policy will remain in force for as long you continue to pay your premiums 30 jun 2016 get life details of whole and endowment etc, also know about limited.

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CORE INSURANCE, INSURANCE TECHNOLOGY

Zywave and DataCrest Announce Digital Forms Integration Between Partner Platform and AppEase

Zywave and DataCrest | September 29, 2022

Partner Platform, a Zywave company, and DataCrest, a leading P&C insurance tech provider, today announced a new integration between Partner Platform and AppEase digital forms to digitize the process of data collection for forms and supplemental applications. The integration of Partner Platform, a leading provider of web-based agency management systems and customer relationship management solutions for P&C insurance agencies, with AppEase, enables agents to increase efficiency to attract and retain more clients. "A top concern for agency owners is the efficiency of their teams, As their business partners, we continually look for ways to help them eliminate roadblocks and improve their processes across the entire lifecycle of selling and servicing policies. We are excited to announce this integration, which improves the experience for both the agent and insured." -Vice President of SIS Revenue Operations Michael Doran Tom Young, DataCrest's founder, adds, Supplemental applications and other documents slow down deal flow, are redundant and are not specific to the insured's operations. We are thrilled by the value this integration can bring to all involved and are confident we can help solve longstanding communications and application issues for agents and their clients. About Zywave Partner Platform was acquired by Zywave in June 2022. Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Zywave's all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals—their own Modern RevOps Machine. More than 15,000 carriers, agencies and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety. About DataCrest DataCrest is a technology company built by P&C veterans to solve inefficiencies they have recognized in various roles over their careers. Those include solutions for commercial supplemental applications, Quote Bind Issue wizards, and claims probability analytics.

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CORE INSURANCE

Aspida Chooses FireLight® to Help Power Annuity Sales

Aspida and Insurance Technologies | October 11, 2022

Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the life and annuity industry, announced that Aspida Life Insurance Company (“Aspida”), a life insurance and annuity company, plans to use Insurance Technologies’ digital sales platform, FireLight, to help distribute its WealthLock℠ suite of annuity products to the broker-dealer channel. Carriers and distributors use the multi-carrier platform FireLight to create and enable a seamless sales experience for their advisors and consumers. FireLight powers easy, digital data collection; improves in-good-order sales; increases efficiency; and meets regulatory requirements. “We’re excited to partner with Aspida and help power their growth in the broker-dealer channel, Aspida’s dedication to technology helps them deliver their products with a simple, easy, and quick process. FireLight checks all those boxes and will help support them as they continue to grow in the broker-dealer channel.” -Insurance Technologies’ Chief Operating Officer, Clint Moore Aspida’s goal of being a tech-leading, agile insurance company that provides retirement solutions with speed, simplicity and security aligns well with the features – and flexibility – the FireLight platform offers. When we decided to enter the broker-dealer channel with our WealthLock℠ suite of annuities, we wanted to make sure we chose a platform that would complement our strategy and enhance our capabilities, With a number of broker-dealers already using FireLight for their annuity e-Applications for the flexibility it provides, FireLight was an excellent choice for us as we continue to grow and help our clients achieve and protect dreams,said Sol Osterkatz, chief technology officer at Aspida. About Aspida Aspida Holdings Ltd., through its subsidiaries (collectively “Aspida”), is focused on providing retirement and reinsurance solutions, having operations in the U.S. and Bermuda with total assets of $4.4 billion as of June 30, 2022. Aspida, through its U.S. platform, Aspida Life Insurance Company, is focused on leveraging technology and acting with agility to help clients achieve – and protect – their dreams. Its Bermuda-based reinsurance platform, Aspida Life Re, is focused on providing efficient and secure life and annuity reinsurance solutions. Aspida seeks to be a trusted partner in its clients’ financial security while driving its growth by doing good for the communities it serves. Aspida is an indirect subsidiary of Ares Management Corporation. About Insurance Technologies Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance industry. Offering a suite of integrated sales solutions, from pre-sale functions to quoting and illustrations through e-application and e-delivery to post-sale services, Insurance Technologies provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across the life and annuities insurance industries. The unique architecture and flexibility of its solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth and evolve with regulatory changes.

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RISK MANAGEMENT

MetricStream and C-Risk Partner to Accelerate the Adoption and Value of Cyber Risk Quantification

MetricStream | November 01, 2022

MetricStream, the global market leader in integrated risk management (IRM) and governance, risk, and compliance (GRC), and C-Risk, a leading international authority in cyber risk quantification (CRQ), today announced a partnership to jointly offer MetricStream’s CyberGRC and C-Risk’s CRQ enablement and training services to customers. The combination of MetricStream’s CyberGRC that includes advanced CRQ and Simulation, and C-Risk’s enablement services will enable faster time to value and help operationalise CRQ initiatives for organisations. Cyber risk management has become a critical business issue for companies of all sizes and industries. However, decisions concerning insurance, controls to be implemented, investments in IT and security projects, tools, and resources are often made without understanding the plethora of risks that exists in each scenario and how a proposed solution can reduce those risks in monetary terms. CRQ, in particular the Factor Analysis of Information Risk™ (FAIR™) standard, allows modelling of risk scenarios and quantification of the financial impact using statistical and probabilistic techniques. "Cyber risk quantification is a decision support tool that helps organisations present risk in financial terms to general management, justify and prioritise cyber security budgets as well as optimise a company's cyber insurance. It is the obvious next step in the GRC program of any organisation wanting to improve its cyber security governance,” - Christophe Forêt, President of C-Risk CISO’s and cyber leaders across industries are looking to prioritise and address their cyber risks, as well as drive maximum ROI from their cyber investments, We are excited to partner with C-Risk to accelerate the value of MetricStream’s CRQ capabilities with targeted FAIR™ training and enablement,said Raghuram Srinivas, Senior Vice President, Product Management, MetricStream. About MetricStream MetricStream is the global SaaS (Software as a Service) leader of Integrated Risk Management and GRC solutions that empower organizations to thrive on risk by accelerating growth via risk-aware decisions. We connect governance, risk management and compliance across the extended enterprise. Our ConnectedGRC and three product lines – BusinessGRC, CyberGRC, and ESGRC – are based on a single, scalable platform that supports you wherever you are on your GRC journey. MetricStream is headquartered in San Jose, California, with an operations and R&D center in Bangalore, India, and sales and operations support around the globe. About C-Risk: C-Risk provides solutions to quantify information security and technology risk in financial terms. We help organisations understand information risk in business terms, decide how to prioritize investments to improve cyber resilience and information security compliance. Recognized internationally for its expertise in cyber risk quantification (CRQ), C-Risk offers training on the FAIR™️ methodology, CRQ as a Service as well as Cyber Risk Quantification Enablement Services to help organization build their internal risk quantification capabilities and improve their overall information security governance.

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