CORE INSURANCE

High Street Insurance Partners Successfully Acquires GTA Insurance Group

High Street Insurance Partners | December 14, 2021

Reinsurance News
High Street Insurance Partners ("HSIP") announced today that it has acquired Nebraska-based GTA Insurance Group.

GTA Insurance Group provides comprehensive insurance and risk management solutions across Nebraska. It has an extensive agricultural practice and offers business and personal insurance, as well as benefits.

"We are thrilled to have GTA Insurance Group join HSIP, This represents over 30 new offices across Nebraska, which greatly expands our footprint in communities across the Midwest. More importantly, this partnership allows us to provide deep agricultural expertise to our clients."

- Scott Wick, CEO of HSIP.

We are excited to join HSIP. Together we will be able to better serve our clients, our employees, and our communities. We'll also be able to add new clients who will benefit greatly from this partnership and its shared, community focused philosophy.

- Krae Dutoit, President, GTA Insurance Group

HSIP is one of the fastest growing insurance brokerages in North America. The firm has now completed 83 acquisitions since forming the company in mid-2018.

About High Street Insurance Partners
High Street Insurance Partners (HSIP) is a full-service, independent insurance brokerage firm.  Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies.  HSIP employs over 1,700 insurance specialists & consultants in offices based in Arkansas, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, & Washington.

Spotlight

Healthcare insurance in the U.S. is considered to have started with the Great Depression in the 1930s. Since then, spending on healthcare has risen to over $7 trillion globally. Today, the healthcare industry is being shaped by advancements in technology and healthcare consumerism.

Spotlight

Healthcare insurance in the U.S. is considered to have started with the Great Depression in the 1930s. Since then, spending on healthcare has risen to over $7 trillion globally. Today, the healthcare industry is being shaped by advancements in technology and healthcare consumerism.

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LIFE INSURANCE

Policygenius and CBIZ Announce Partnership to Expand Life Insurance Offerings and Empower Agents to Place More Term Life Coverage

Policygenius and CBIZ | October 04, 2022

Policygenius and CBIZ announced today a partnership to bring Policygenius Pro, a term life fulfillment platform, to CBIZ's extensive network of insurance professionals. Policygenius Pro is a turnkey partnerships platform that helps advisors accelerate and streamline life insurance sales. With this tool, advisors can refer their clients to Policygenius to take them through the process, from finalizing policy selection to placing coverage in-force. This partnership enables CBIZ to expand its term life insurance offerings by giving their clients access to Policygenius' wide variety of insurers and policy options, including accelerated underwriting offerings exclusively available on the Policygenius platform. CBIZ plans to harness Policygenius' award-winning services for term life cases that are a great match for these services, enabling them to better focus on other goals. This ultimately provides clients with the best service possible, while also helping CBIZ save time and make their term life production more profitable. "Policygenius Pro gives us a way to both expand and streamline our term life production, We trust Policygenius Pro to provide top-tier service to our clients while also empowering our agents to have more thorough and holistic conversations about life insurance." -Anne Long, RICP and President of Life Insurance Solutions at CBIZ The partnership is initially rolled out to CBIZ advisors who have each been equipped with unique landing pages and engagement tools to launch into life insurance conversations with their clients. They can take advantage of Policygenius' expansive carrier shelf to provide clients with a breadth of coverage options and confidently discuss how these may fit in with their larger financial plans. With Policygenius Pro, CBIZ agents and clients receive support from an expert staff of 200+ dedicated specialists for case management, underwriting, and product support. To date, the platform has helped partners cut placement times by half, on average, and reduced the average time an advisor spends on an application from 2.5 hours to about 15 minutes. Advisors often shy away from placing term life coverage for their clients because it can be so time- and cost-intensive. CBIZ is different. They've made it their mission to provide both robust and personalized financial guidance for their clients, including the right life insurance coverage, We're thrilled to be able to partner with such a forward-thinking organization that values the customer experience and trusts us to be the life insurance fulfillment partner for their customers,said Jennifer Fitzgerald, CEO and co-founder of Policygenius. About Policygenius Pro Policygenius Pro is a turnkey partnerships platform that helps independent agents and financial advisors accelerate and streamline life insurance sales. With this program, Policygenius provides its one-stop-shop insurance solution to financial advisors, independent agents, community banks, credit unions, and more, with the goal of helping partners' clients get the insurance coverage they need. Partners receive access to a wide variety of insurers, coverage types, and policy options, including accelerated underwriting offerings exclusively available on the Policygenius platform. About Policygenius Policygenius transforms the insurance journey for today's consumer, providing a one-stop platform where customers can compare options from top insurance carriers, get unbiased expert advice, buy policies, and manage their insurance portfolio, in one seamless, integrated experience. Our proprietary technology platform integrates with the leading life, disability, and home and auto insurance carriers and delivers an exceptional digital experience for both consumers and insurance carriers. Since 2014, our content, digital tools, and experts have served as a resource for millions of people on their insurance journey, and we have sold more than $170 billion in coverage. About CBIZ CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services, including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting and executive recruitment. As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company's services are provided through more than 100 Company offices in 33 states. About CBIZ Life Insurance Solutions CBIZ Life Insurance Solutions, Inc. is a full-service brokerage general agency with a 40-year legacy. We offer solutions utilizing life insurance, annuities, long-term care, disability, executive benefits and life settlements. We take advantage of our unique access to seasoned professionals servicing other products lines within the broader CBIZ organization. In addition, we continue to support and grow our legacy relationships with independent producers. Our industry intelligence is carefully integrated to help ensure the most favorable result is obtained.

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CORE INSURANCE

PCF Insurance Services' Earns Recognition as Industry Leader

PCF Insurance Services | September 22, 2022

PCF Insurance Services (PCF), a leading national insurance brokerage, was recently named a top 20 insurance broker on Business Insurance's "2022 Top 100 Brokers of U.S. Business" list. The list, which ranks companies by their 2021 brokerage revenue generated by U.S.-based clients, identifies the highest-grossing companies in the insurance industry. The company also placed within the top 15 on Insurance Journal's "2022 Top 100 Property/Casualty Agencies" list, which ranks companies by total property and casualty (P&C) agency revenue. With 2021 revenue of $590 million, PCF Insurance increased its Business Insurance ranking from No. 27 last year to No. 20 in 2022, representing the largest year-over-year jump among top 20 companies. The company's year-over-year revenue increase of more than 150% was also the largest percentage increase of any company in the top 20. PCF Insurance's 167% P&C revenue increase from $176 million in 2021 to $470 million in 2022 provided the momentum for the company to boost its standing in the Insurance Journal ranking from No. 20 last year to No. 13 in 2022. Over a three-year period, PCF Insurance has seen a 3,830% growth in revenue. "In just under four years, PCF has scaled from an agency with more than $10 million in revenue to a leading national insurance brokerage with annual revenue exceeding $640 million, This recognition is a testament to our pursuit thoughtful, value-accretive expansion and our partners' commitment to delivering best-in-class services to clients." -Peter C. Foy, Chairman, Founder and CEO of PCF Insurance The rapid ascension among the industry's leading brokerage firms is a testament to PCF Insurance's collaborative partnership model and culture. PCF Insurance has an intentional approach to attracting and bringing on entrepreneurial-minded, growth-focused agency owners who perform at a high level, deliver year-over-year increases in organic growth, and retain clients. PCF Insurance has earned a reputation as being a preferred partner for entrepreneurs because even though our partners are independent, everyone has a stake in the success of our organization, Our Agency Partners are the fuel to our success. They collaborate, share knowledge, and as a result, propel our growth strategy. Because when one of us grows, we all grow.,said Peter C. Foy. In addition to the expansion of its technology and infrastructure investments, PCF Insurance completed six acquisitions in 2019, 36 in 2000, 89 in 2021, and is on pace to complete more than 100 acquisitions this year. Of these acquisitions, XX% of these deals were a direct result of referrals from within the PCF partner network. To continue to add value and diversification to its network of offerings, PCF recently announced acquisitions of California-based Andreini & Company, Utah-based MGA United Underwriters, and specialty MGA Professional Warranty Service Corporation (PWSC). According to analysis by Chicago-based Optis Partners LLC. Through the company's collaborative structure, PCF Insurance currently serves more than 465,000 clients through its network of nearly 165 Agency Partners* across 37 states. About PCF Insurance Services A top 20 U.S. broker headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers' compensation solutions. Propelled by its people, PCF Insurance's agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partners alignment through equity ownership, significant leadership incentives, and resources to over 3,100 employees throughout the U.S. PCF Insurance is a notable leader in the insurance space, ranked #20 on Business Insurance's 2022 Top 100 Brokers and #13 on Insurance Journal's 2022 Top Property/Casualty Agencies.

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CORE INSURANCE

Securian Financial collaborates with “BenefitBump” to enhance education among expectant parents

SECURIAN FINANCIAL | September 30, 2022

To provide greater assistance to employees growing their families, Securian Financial in a first among insurance carriers is adding “BenefitBump” as a value-added service. The BenefitBump service can be used with Securian Financial’s group hospital indemnity insurance issued by Securian Life Insurance Company. BenefitBump improves outcomes for both employers and employees by helping growing families navigate their employers’ benefits and time off programs to build plans for balancing work and life. The program was designed for all paths to parenthood, including childbirth, adoption and families seeking fertility support. Participants are provided with education tools and live support from licensed emotional health clinicians. “Employees expecting a new child are often overwhelmed with information and unaware of all the benefits available to them through their employers, BenefitBump’s trained care navigators are experts in workplace benefit programs for expecting parents. They guide parents through the journey of growing their families from pre-birth planning to post-birth childcare while ensuring that they are maximizing their available benefits. For employers, this can be a powerful tool for retention, especially of working mothers.” -Darin Reeser, regional director of supplemental health benefit sales for Securian Financial According to ongoing BenefitBump participant survey responses, 66% of participants say the service reduces stress and anxiety and 83% say it increases benefit awareness and utilization. In addition, a 2021 study of program participants found that 98% successfully returned to work. Group hospital indemnity insurance is a workplace supplemental health policy that pays a pre-determined benefit to insured employees who experience a hospital stay covered by the policy. Employees can use the benefit to pay for out-of-pocket expenses not covered by their major medical insurance, or however they wish. With Securian Financial, insured employees do not have to experience a hospital stay to use BenefitBump. In fact, according to BenefitBump, since the service’s inception, nearly one-fifth of participants have engaged the service while family planning. Workplace supplemental health benefits on the rise According to a study conducted by benefits broker WTW, more employers are turning to supplemental health benefits to help protect employees from big medical bills and loss of income. The study, conducted between February 23 and March 12, 2021, found that among 238 organizations employing 3.7 million people, 42% offered group hospital indemnity insurance and 57% offered group critical illness insurance. By 2022, 65% of the organizations said they would offer hospital indemnity insurance to their employees, and 76% said they would offer critical illness insurance. Additionally, LIMRA, a life insurance researcher and trade organization, reported recently that workplace supplemental health benefit premium rose 6% in 2021, to nearly $2.6 billion. A group insurance leader Securian Financial offers group life, accidental death and dismemberment (AD&D) and supplemental health insurance products to employers nationwide. The company specializes in large public and private employer plans with 1,000 or more participants. Since issuing its first group life insurance policy in 1917, Securian Financial through its subsidiaries, Minnesota Life Insurance Company and Securian Life Insurance Company has grown to become the third-largest direct writer of group life insurance in the United States. The company is the top provider of group life insurance to state governments, 16, and has an extensive list of Fortune 500 employer clients, including 18 of the Fortune 100. ABOUT SECURIAN FINANCIAL At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.

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