Zurich | November 12, 2021
Zurich American Insurance Company ("ZAIC"), a leading provider of insurance products and services to businesses in multiple industries, has signed an agreement to acquire Special Insurance Services, Inc. ("SIS"), a Texas-based program manager whose offerings include gap medical and occupational accident insurance products. The acquisition will expand ZAIC's supplemental health insurance solutions that help businesses and individuals better manage medical costs.
ZAIC's Accident and Health products for employers and other groups include voluntary benefits, travel insurance and assistance, gap medical, medical stop-loss, occupational accident and student accident insurance. The acquisition of SIS, which is expected to be completed in early 2022, will help expand ZAIC's ability to deliver solutions in gap medical, occupational accident and primary employer indemnity insurance.
"As medical costs continue to increase, employers are seeking solutions that enable migration to higher deductible major medical plans while ensuring healthcare affordability for workers. Gap medical is gaining popularity because it can help employees cover their deductibles and coinsurance, reducing out-of-pocket expenses. Through the acquisition of SIS, ZAIC can build our capacity to deliver high-quality supplemental health products like this — products that businesses and workers need, desire and deserve."
- David Fike, Head of Life, Accident and Health for ZAIC.
SIS has capabilities to develop, underwrite, distribute and administer specialty insurance products for small- and midsize employers. SIS has been managing programs since 1987 and today provides some level of administrative services to more than 5,000 employers and their employees, with annual premium of approximately $55 million.
"Zurich and SIS share a commitment to listening to the needs of the marketplace and putting customers first. That's one reason our talented team at SIS looks forward to joining the Zurich family and amplifying our positive impact. Together, we will help solve for some of the most pressing health challenges that businesses and individuals face today."
- SIS President Philip Rearick.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. In North America, Zurich is one of the largest providers of insurance solutions and services to businesses and individuals. Customers are served through the individual member companies of Zurich, including Zurich American Insurance Company. Life insurance and disability coverage issued in the United States in all states except New York is issued by Zurich American Life Insurance Company, an Illinois domestic life insurance company. In New York, life insurance and disability coverage is issued by Zurich American Life Insurance Company of New York, a New York domestic life insurance company. For more information about the products and services Zurich offers and the people Zurich employs in the U.S. and Canada.
vipHomeLink | January 20, 2022
HawkSoft, the Oregon-based insurance technology developer, and vipHomeLink, a leading InsurTech company focused on innovative digital home management solutions, announced a formal partnership today. vipHomeLink is the latest company to join HawkSoft's Referral Partner Program. Through this new relationship, vipHomeLink will offer a suite of digital home management tools for homeowners.
Independent insurance agents can leverage vipHomeLink to enhance the protection they offer their insureds – expanding the care beyond coverage and into proactive home maintenance. vipHomeLink allows a homeowner to digitally track and organize key documents pertaining to their home, stay current with necessary inspections, and be proactive with maintenance. Agencies that provide vipHomeLink to their clients see an increase in engagement and a reduction in their loss ratios as they shift conversations from being reactive towards sudden claims to being proactive around home ownership.
"Many agencies using HawkSoft to power their insurance businesses view themselves as not just selling insurance products but also providing knowledge and protection to their communities, Our partnership with vipHomeLink allows agencies to further expand their relationship with insureds beyond risk coverage and into proactive risk mitigation. It changes the narrative for the agent from managing claims to preventing problems."
-Rushang Shah, VP of Marketing for HawkSoft.
"We are very excited to be partnering with HawkSoft, a leader in the agency management world. Together, we can help drive client engagement for independent insurance agencies. Our solution helps make a policyholder's home safer and more enjoyable, which reflects back on the agency who made that possible."
-Geoff Martin, vipHomeLink's President and Co-founder
Independent agencies that use HawkSoft are eligible for special pricing on vipHomeLink's services and platform.
Since 1995, HawkSoft is a leader in management systems for independent insurance agencies that want effective workflows and a delightful experience for staff and policyholders. Created by independent agents, HawkSoft continues to evolve as a cutting-edge system that powers thousands of agencies. HawkSoft offers the following promise to insurance agents: your investment in HawkSoft will pay for itself in the first year. Learn more about HawkSoft's unique father-and-son story at www.hawksoft.com/story.
vipHomeLink is a digital home management solution that helps homeowners maintain, organize, and improve their homes. The Company partners with insurance carriers, agencies and others across the insurance ecosystem to drive engagement with homeowners and improve home safety by building awareness of the home, providing customized reminders and home recommendations, and by sharing expert, multi-channel content with members. vipHomeLink is based in Morristown, New Jersey.
NFP, NetDiligence, CyberCube | February 12, 2021
NFP, a main insurance broker and advisor that gives property and casualty (P&C), corporate benefits, retirement, and individual solutions, is joining forces with NetDiligence and CyberCube to offer new analytical tools and resources to help clients as they face an assortment of cybersecurity challenges.
NetDiligence gives cyber risk management software zeroed in on cyber risk status and responsive administrations. The platform offers tools for clients to evaluate cyber risk and data breach reaction arranging. Moreover, NetDiligence discharges a cyber claims concentrate every year to feature drifts in cyber security across different business sizes and ventures.
CyberCube offers cyber examination that educate risk choices. Data accumulated by the platform is curated into data sets that recognize risks and venture the effect of a cyber occasion. The platform predicts patterns that manage insurance placement decisions and makes reports to measure the expected loss of an uncovered vulnerability.
“Our focus is on helping companies enhance their cyber preparedness and mitigate the disruption of a cyber attack,” said Elissa Doroff, managing director and cyber technical leader at NFP. “Utilizing tools like NetDiligence ensures we provide a wide variety of solutions as our clients navigate cyber threats. Cyber related incidents are on the rise, making it critical that we identify the latest tools and resources, collaborate with partners to evolve and adapt innovative coverage solutions, and continually advance our clients' preparation."
“CyberCube provides our clients with actionable, data-driven insights that support a proactive approach to cybersecurity,” said Akhil Chopra, managing director and head of NFP’s cyber liability practice. “It’s imperative that we continue to expand our solutions to help our clients navigate a dynamic environment of cyber threats.”
NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,800 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 5th best place to work in insurance and 6th largest US-based privately owned broker (Business Insurance); 9th commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).
NetDiligence® specializes in Cyber Risk Readiness & Response services. With 20 years of experience in cyber, NetDiligence is an award-winning provider of innovative cyber risk management software and services to the insurance industry, including QuietAudit® Cyber Risk Assessments, the eRiskHub® cyber risk management portal, and Breach Plan Connect®, a securely hosted solution designed to help senior managers plan and execute their organization’s response to a cyber incident, and which also includes a free mobile app for convenient access and alternative means of communication if company systems are compromised. NetDiligence publishes an annual Cyber Claims Study and traditionally hosts annual Cyber Risk Conferences in Philadelphia, Santa Monica, Toronto, London, and Bermuda. NetDiligence also offers a variety of virtual programs that are free of charge to attendees and qualify for CE/CLE credits.
CyberCube delivers the world’s leading cyber risk analytics for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations make better decisions when placing insurance, underwriting cyber risk and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modelling on thousands of points of technology failure. The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners and backing from ForgePoint Capital, HSCM Bermuda, MTech Capital and individuals from Stone Point Capital.