HawkSoft Partners with Certificial to Bring Modern Solution to Revolutionize Insurance Verification

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.

Spotlight

Small business insurance, sometimes called commercial insurance, helps cover a business' assets, property, and income against certain losses. A business owners policy (BOP) offers three basic types of coverage to help protect a business: business property coverage, general liability coverage, and business interruption coverage.

Spotlight

Small business insurance, sometimes called commercial insurance, helps cover a business' assets, property, and income against certain losses. A business owners policy (BOP) offers three basic types of coverage to help protect a business: business property coverage, general liability coverage, and business interruption coverage.

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iCover | September 13, 2021

iCover, a Missouri-based Insurtech that provides an algorithmic underwriting Platform as a Service (paas) for life insurance companies, raised an undisclosed amount in seed funding. The company intends to use the funds raised to expand insurance distribution through a direct-to-consumer offering, increase technical staff and expand sales and marketing efforts. iCover also announced a multi-year partnership with KSKJ Life, headquartered in Joliet, IL, that allows iCover to onboard KSKJ Life's full suite of products which includes Final Expense, Term Life, Whole Life and Annuities on the platform to digitize their new business processes. "We are excited about the partnership we have established with the iCover team. The experience and expertise that they offer, from the platform to business development, support our growth strategies and commitment to provide excellent service to our members and agents." (Tony Mravle, CEO for KSKJ Life) "KSKJ Life is an ideal partner for iCover, they have an innovative mindset, agile approach to delivery and the suite of products that could help enhance the iCover platform." (Hari Srinivasan, CEO for iCover) About iCover iCover is a cloud-based algorithmic underwriting platform that helps insurers sell to the middle market. By leveraging data and predictive analytics iCover can quote, underwrite, and deliver life insurance in under 5 minutes. iCover was built by industry insiders Hari Srinivasan and Nicole Mwesigwa who applied their 30+ years of InsurTech experience and intimate knowledge of automated underwriting technologies. About KSKJ Life KSKJ Life is a Christian, community-focused life insurance company that has provided financial security to its members and their families for over 127 years. Licensed to do business in 19 states across the US, KSKJ Life has experienced tremendous financial growth over the past decade reaching over $551 million in assets. Founded in Joliet, Illinois, KSKJ Life offers competitive life insurance and retirement products, premier personalized service and meaningful member benefits and programs, with over 50,000 members nationwide. As a not-for-profit organization, KSKJ Life makes a difference by reinvesting back into local communities and is dedicated to continuing its mission by helping families achieve financial security through the introduction of new products, increased technology and expansion of distribution channels.

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CORE INSURANCE

Chubb Launches a New and Improved Package Product for Commercial Clients

Chubb | May 24, 2021

Chubb has launched a new insurance product, Benchmarq Package, for the lower middle market segment, setting the standard for package plans based on broader, more scalable coverage and performance. Benchmarq provides a more comprehensive base coverage offering of both property and liability, resulting in insurance protection that is more robust than typical industry package policies. Although Benchmarq's base product is best suited to smaller or less complex package risks, coverage can be scaled up by higher limits and additional endorsements to build completely customized solutions for clients' unique and evolving needs in an underserved middle market space. "Benchmarq addresses a gap in the lower middle market that isn't traditionally filled by a standard plan or company owners insurance scheme," said Ben Rockwell, Division President, Chubb Middle Market. "Chubb's latest modernized package broadens our presence in the middle market and allows us to include the esteemed insurance programs and offerings for which we've been popular to an ever wider range of customers, at a time when exposures in this space begin to emerge." We assume that the scalability, quicker quoting, and simplified product architecture would help agents and brokers—all backed by Chubb's advanced underwriting experience, excellent risk engineering, and claims scalability. Benchmarq's key product features provide comprehensive and flexible property and general liability coverages that protect customers against the risks they are most likely to face within the sectors in which they specialize, which include education, food, manufacturing, professional services, real estate, retail, technology, wholesale, and wineries, with plans to expand into additional industries. Benchmarq is currently accessible via field underwriters in 29 states, with more to follow in the coming months. Benchmarq will be available in the Fall of 2021 on Chubb's award-winning digital platform, the Chubb Marketplace. The Chubb Marketplace is intended to modernize the placement of insurance policies. About Chubb Chubb is the largest publicly traded property and casualty insurance corporation in the world. Chubb, which has operations in 54 countries and territories, offers a wide range to clients commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance. We assess, assume, and manage risk with insight and discipline as an underwriting company. We service and pay claimants in a fair and timely manner. The company is also defined by its broad product and service offerings, extensive distribution capabilities, exceptional financial ability, and global-local operations. Chubb Limited, the parent company, is a member of the S&P 500 index and is listed on the New York Stock Exchange. Chubb has executive offices in Zurich, New York, London, and Paris, among many other places, and employs about 31,000 employees globally.

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WELIS Acquired by iPipeline

Business Wire | September 22, 2020

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