The Standard and Noyo | October 21, 2022
Standard Insurance Company (The Standard), a leading provider of financial protection products and services for employers and individuals, has entered into a strategic partnership with Noyo. This partnership reinforces The Standard's commitment to digital transformation by bridging member enrollment and eligibility data across benefits technology platforms. The solution will enable faster group connection and processing times, as well as decreasing operational overhead for benefits administration.
By incorporating Noyo's capabilities around handling, standardizing, and transmitting data quickly and accurately, The Standard is making it easier for employers to administer their benefits and employee enrollments and reducing data issues that can disrupt coverage. The partnership will provide an enhanced billing experience and access to data, allowing information to pass quickly and seamlessly between stakeholders.
“The Standard is making a significant investment in our group insurance business to transform the way we connect with and provide service to our customers, We are investing to deliver a superior outcome for our customers through a unique combination of expertise, caring and digital experience."
-Jill Schlofer, second vice president of Implementation and Enrollment for The Standard
Key Partnership Benefits
Streamlines member maintenance updates including open enrollment, new hires, qualifying life events and demographic and termination changes across all group sizes.
Allows brokers to connect clients faster, spend more time advising their clients and less time on administration.
Performs member enrollment data audits to ensure eligibility changes are processed quickly and accurately.
I am incredibly excited to see an insurance carrier with more than a hundred years of history adopt the technology of the future, We look forward to transforming the way key benefits data is managed and enabling The Standard to focus on their mission to protect the lifestyles of their customers,said Shannon Goggin, CEO at Noyo.
About The Standard
The Standard is a family of companies dedicated to helping customers achieve financial well-being and peace of mind. In business since 1906, we are a leading provider of financial protection products and services for employers and individuals. Our products include group and individual disability insurance, group life, dental and vision insurance, voluntary (employee-paid) benefits, absence management services, and retirement plans and annuities for employers and individuals.
Noyo is the modern data infrastructure that makes frictionless employee benefits possible. Founded by leaders in benefits, insurance and API technology, Noyo is the first company transforming the underlying infrastructure of the benefits industry with seamless digital connectivity. With Noyo, crucial benefits data is instantly available anywhere it’s needed, unlocking new possibilities for how benefits are designed and delivered.
Wright National Flood Insurance | November 02, 2022
Wright National Flood Insurance Company, the nation's leading provider of federal flood insurance, has announced an agreement to acquire the flood insurance policy book from IAT Insurance Group Inc. and its affiliate Occidental Fire and Casualty Company of North Carolina ("IAT").
Wright Flood will service, administer and issue flood coverage under the National Flood Insurance Program (NFIP) for IAT policyholders and agents. Additionally, Wright will also assume the servicing of IAT Insurance Group's private flood business.
Wright Flood has more than 40 years of experience exclusively in the flood insurance industry. It is widely recognized for its industry-specific knowledge, claims response and long-standing commitment to partner with agents and policyholders, especially at the time of a flood loss. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing the service customers deserve.
Patricia Templeton-Jones, Wright National Flood Insurance Services president, said she is excited about the partnership with IAT agents.
"IAT Insurance Group has provided flood coverage solutions for the past 15 years for its agent partners and policyholders, We look forward to continuing their long history and providing their agents with our experience in the flood insurance industry. Since the inception of the NFIP, Wright Flood has been a premier provider of flood coverage and private flood options for homeowners and business owners."
Wright has a well-established reputation of providing excellent service to customers and agents, especially at the time of a flood loss, We are confident customers will continue appreciating the peace of mind that comes with having flood coverage, said Joe Tracy, IAT's executive vice president of inland marine, property and aviation.
Beginning in early 2023, Wright Flood will manage IAT's NFIP flood placements. Wright National Flood Insurance Company, which is AM Best-rated as A (Excellent) for financial strength, will issue all new policies and renewals. For retail agents accessing flood coverage through IAT, there will be minimal change in the process to continue to provide NFIP coverage for policyholders.
About Wright National Flood Insurance Company
Wright National Flood Insurance Company, the largest flood insurance provider in the nation, offers federal, excess, and private flood insurance with leading industry experience, rated A (Excellent) by AM Best. Wright Flood takes pride in its exceptional claims reputation, providing superior service customers deserve and its user-friendly technology.
IAT Insurance Group is a privately-owned, specialty insurance group providing property-casualty and surety insurance products for niche markets. With more than 900 employees and office locations across the country, IAT Insurance Group's specialty units include Commercial Transportation, Excess and Surplus, Inland Marine, Reinsurance, Surety and Management Liability. The IAT Insurance Group companies are rated A- (Excellent) by AM Best.
CORE INSURANCE, LIFE INSURANCE
CL Life & Annuity Insurance Company and Insurance Technologies | September 26, 2022
Insurance Technologies, LLC., a provider of sales and regulatory automation solutions for the life and annuities insurance industries, announces that CL Life and Annuity Insurance Company (“CL Life”), a provider of insurance products that offer policyholders stable growth, tax deferral and income planning, has launched FireLight® e-Application. CL Life implemented FireLight to get new products to market quickly and efficiently while providing a superior digital agent and customer experience.
“We wanted a digital solution that enabled quick speed to market and supported our digital strategies to make submitting annuity business with CL Life an easy and friendly process for agents, FireLight is the industry leader in the annuity and life market and provides us with the features and integration capabilities to efficiently create modernized and accelerated sales processes.”
-Gary Sorensen, Director of Marketing & Sales, CL Life
CL Life now provides agents with an easy way to sell CL Life annuity products through FireLight’s dynamic wizard e-application experience. The streamlined experience CL Life created includes e-Signature built-in into the sales workflow. So, agents can collect required signatures quickly and submit complete in-good-order application packages direct to CL Life.
At Insurance Technologies, we know the importance of having the resources and tools to get products to market quickly and efficiently, We are happy to be able to supply CL Life the innovation and team support to create new digital sales processes and experiences and introduce new products to the industry quickly,said Clint Moore, Chief Operating Officer, Insurance Technologies.
CL Life implemented FireLight with its new MYGA product released this month.
Insurance Technologies has been a great partner in meeting our business, integration, and workflow requirements, The team at Insurance Technologies was easy to work with and provided the consultative support we needed to meet our implementation goals. We were able to go from concept to implementation in just eight weeks, said Sorensen.
By using the standardized templates and rules within FireLight, we were able to provide a quick and efficient implementation experience, meeting CL Life’s timeline of two months, We are proud of the partnership with CL Life and look forward to working with them as they offer new products and expand their digital journey,said Moore.
About CL Life & Annuity Insurance Company
Headquartered in Fort Worth, Texas, CL Life and Annuity Insurance Company seeks to provide insurance products specially designed for retirement assets that offer stable growth, tax deferral, and income planning. Its mission is to provide competitive products that meet the financial goals of policy holders, investing in assets for the purpose of growing policy holder premiums aimed at generating strong returns with the flexibility to secure their future. CL Life is an affiliate of Crestline Investors, Inc., an institutional investment management firm with approximately $15.4 billion in assets under management.
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.