CORE INSURANCE

Hub International Acquires Assets of The Olson Insurance Agency LLC And Insure All LLC

Hub International Limited | November 03, 2020

Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the insurance brokerage assets of The Olson Insurance Agency LLC (The Olson Agency) and Insure All, LLC (Insure All). Terms of the transaction were not disclosed. The owner of The Olson Agency and Insure All, Max Olson and Michael Forney, respectively, were each previously part of Nationwide Mutual Insurance Company's (Nationwide) exclusive distribution model and recently transitioned to independent brokers. Both The Olson Agency and Insure All provide personal and commercial insurance services, including home, auto, life and business. The agencies are based in the following cities in Virginia: The Olson Agency in Springfield, Arlington and Woodbridge; and Insure All in Stanley.

Spotlight

As a family physician, your job is to help protect your patient's health. As a spouse and parent, your job is to protect your family's well-being. Life insurance is one of the many ways that you can help financially protect the ones you love in the event that you are no longer around Get the facts on why family doctors like you should make sure you are covered.

Spotlight

As a family physician, your job is to help protect your patient's health. As a spouse and parent, your job is to protect your family's well-being. Life insurance is one of the many ways that you can help financially protect the ones you love in the event that you are no longer around Get the facts on why family doctors like you should make sure you are covered.

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ANNUITIES

Unqork Expands Strategic Alliance with SE2

Unqork, SE2 | December 22, 2020

Unqork, the leading enterprise no-code platform, today announced an expansion of its strategic partnership with SE2, a life and annuities insurance technology and services firm, to use the Unqork platform as a feature of its pre-incorporated, end-to-end life and annuity digital ecosystem. This partnership will empower SE2 to offer life and annuity insurance carriers a suite of solutions to streamline and modernize across the whole strategy lifecycle. "SE2's partnership with Unqork provides insurers with a pre-built and fully integrated ecosystem, now with the added benefit of Unqork's no-code platform, to drive efficiencies and cost savings for insurers," said Mark Schultis, CEO, SE2. "I'm excited to partner with Unqork and jointly accelerate the digitization efforts of the insurance and retirement solutions industry." SE2 has utilized Unqork's absolutely visual, intuitive no-code platform alongside the SE2 Aurum® digital platform to additional improve its insurance ecosystem for supporting the whole arrangement lifecycle, from beginning, new business, however strategy administration, servicing, claims, and payout. Together, SE2 and Unqork have made industry-specific digital capabilities needed for the end-to-end transformation of life and annuity insurance carriers. These capabilities support all distribution channels, including direct-to-consumer for both digital self-service and back office processing. "Our partnership is driving the much-needed replacement of legacy systems and accelerating the trend towards automation and digitization in the life insurance and retirement solutions industry. Unqork's no-code platform is uniquely positioned to address this need in the market," said Rabih Ramadi, Head of Financial Services, Unqork. "Joining forces with an industry expert like SE2 provides an opportunity to showcase the real power of our platform and to build fully digital experiences for insurance carriers and the clients they serve." About Unqork Unqork is the industry pioneer no-code enterprise application platform that helps large companies build, deploy, and manage complex applications without writing a single line of code. Organizations like Goldman Sachs, Liberty Mutual, the Cities of New York and Washington, DC and Maimonides Medical Center are using Unqork's drag-and-drop interface to build enterprise applications faster, with higher quality, and lower costs than conventional approaches. About SE2 SE2, an Eldridge business, is a life and annuities insurance technology and services firm. SE2 has a proven track record of enabling technology driven transformations. SE2 uniquely combines industry knowledge stemming from its 125+ years of life insurance heritage along with its end-to-end SE2 Aurum® technology platform to enable the rapid launch of new and innovative products through both traditional as well as digital channels. SE2 currently administers nearly 2 million active policies on behalf of its 25+ clients. SE2 has over $100 billion in assets under administration and handles more than 200,000 new business applications annually.

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CLAIMS

LexisNexis Risk Solutions Launches Innovative Insurance Customer Data Management Solution

LexisNexis Risk Solutions | February 03, 2022

LexisNexis® Risk Solutions, a leading provider of data, analytics and technology for the insurance industry, now offers U.S. insurance carriers superior assistance in linking and connecting disparate customer records through LexID® for Insurance. LexID is the unique identifier built from proprietary linking technology, more than 35 years of referential data and thousands of data sources to match disparate identity information and help insurers create the sought-after single customer view across their enterprise. For auto, home and life insurance carriers that aggregate tremendous amounts of data to optimize risk-decision making and meet rising consumer expectations, legacy systems, fragmented data and organizational silos have made customer data management (CDM) one of the insurance market's biggest impediments. "Insurance carriers are moving from a policy-centric approach to an enterprise customer-centric approach to be able to better understand the household's insurance needs, offer more personalized options to consumers, and ultimately retain these consumers as long-time customers," Robert McConn, senior director of product management, insurance, LexisNexis Risk Solutions, said. "Insurers understand that the quantity of data they're managing is growing exponentially, and to deliver a great marketing, underwriting or claims experience where the consumer feels appreciated, they have to implement an effective customer data management strategy. As a result, LexID can be integral to helping carriers remain competitive in a rapidly changing digital insurance environment." A CDM program using LexID for Insurance allows insurers to collect, manage and analyze consumer data from various sources to form a single, comprehensive view of each customer. Disparate consumer records can be linked into a common LexID consumer identifier using LexisNexis® Scalable Automated Linking Technology, a patented method of linking and clustering data. By pulling together data from multiple touchpoints – marketing, quote, renewal and claims – insurance providers can build a comprehensive and accurate representation of their customer. Not only can LexID for Insurance improve data accuracy across the enterprise, but it can also assist carriers with delivering products and services better suited to the needs of their customers. "While customer data within an insurer is the lifeblood of its business – one of its greatest assets and competitive advantages, insurers of all sizes face the hurdle of harnessing their data and using it to its full potential, The financial costs are obvious, however, other consequences of inaccurate or unused data can run deeper such as customer service inefficiencies, missed opportunities, fraud and even harmed brand reputation. Centralizing the management of customer information is critical for a business's continued success." -Mark Breading, partner, Strategy Meets Action. Data continues to fuel the future of consumer engagement for insurers. A proven matching solution, LexID has been the foundation of LexisNexis Risk Solutions products and services for over a decade and can help bring sense and order or organization to insurance provider-held customer databases. Visit our LexID for Insurance page or LexID video for more information. About LexisNexis Risk Solutions LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers.

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INSURANCE TECHNOLOGY

DRC Releases Enhanced Product APIs for its RS X Rating solution.

Decision Research Corporation | November 06, 2020

Decision Research Corporation (DRC), a leading provider of enterprise software solutions for the P&C insurance industry, announced today the release of enhanced Product APIs for its RS X Rating solution. RS X Rating empowers business users and subject matter experts by allowing them to model, design and configure new insurance products using a familiar, easy-to-use Excel® interface. DRC's release of new Product APIs for RS X Rating now allows even complex and custom products to integrate effortlessly with third-party systems. By continuing to invest significantly in their development, DRC recognized the increasing value to insurers of creating custom touch points through APIs. RS X Product APIs make the development process easier, and faster, by providing all essential information needed to seamlessly integrate with RS X Rating, DRC Quote and DRC Policy. This, in turn, allows insurers and brokers to curate and enrich the experience of their customers without sacrificing the power, speed and security of DRC's processing platform.

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