Orchid Insurance | June 16, 2020
Orchid Underwriters Agency, LLC (Orchid Insurance), one of the largest independent managing general underwriters (MGUs) focused on catastrophe-exposed residential and commercial lines properties, has today announced the launch of a brand-new MGU called CrossCover Insurance Services (CrossCover). The new MGU will underwrite middle-market commercial property risks for wholesale broker clients beginning early in 2021. It was formed in partnership with veteran property insurance executive Scott Hansen, former chief underwriting officer and chief capacity officer at AmRisc. “Carriers now expect transparency of underwriting and accurate, timely portfolio metrics from MGUs,” said Hansen, president of CrossCover. “Orchid will provide us this with its existing portfolio tools and cutting-edge infrastructure. We believe that the current market loss results reflect an excessive focus on CAT-driven accounts, at the exclusion of other profitable E&S business, as well as an over-dependency on CAT modeling results.
Sentry Insurance | August 30, 2021
Sentry Insurance has launched Sentry Risk Factor, its proprietary risk management tool. By gathering detailed information through quality conversations with dealers, the tool helps evaluate, identify, and measure a dealership's potential risks that could lead to a large loss, and potentially, temporary business closure.
"We know how hard dealerships work to build their business and reputation, and we want to do our part by actively helping them reduce their risks," said John Hyland, president of direct writer at Sentry Insurance. "With Sentry Risk Factor we can help a business measure risks, including the ones that are less obvious and often unforeseen, to help prevent devastating loss at a dealership."
The first, and most important, step in the process is to have an in-depth conversation with a Sentry representative to discuss current operations and the safety culture at a dealership. The conversation allows a Sentry representative to identify risks across five different categories: safety culture, auto risk, building and inventory risks, service practices, and premises observations. Based on information gathered during this initial conversation, Sentry representatives use Sentry Risk Factor to assign a dealership one of three rankings—best in class, average, or red flag.
Based on the overall rankings, Sentry Risk Factor generates a report that details the results and proposes steps to help a dealership mitigate risk. An additional benefit for customers includes recommended safety resources that dealerships can access via their online accounts. Sentry Risk Factor is available for current and prospective customers.
Sentry is a leading provider of commercial insurance programs to more than 3,000 dealers throughout the country. Sentry is also endorsed by John Deere and Harley-Davidson as the preferred provider of commercial insurance for their dealerships. Visit the Sentry Risk Factor page to learn more.
Sentry Insurance is a part of one of the largest and most financially secure mutual insurance groups in the United States, holding a Financial Strength Rating of A+ (superior) from AM Best, current as of June 2021. See ambest.com/ratings/guide.pdf for rating information. Sentry and its subsidiaries and affiliates sell property and casualty insurance, life insurance, annuities, and retirement programs for business and individuals throughout the country. Headquartered in Stevens Point, Wisconsin, Sentry employs more than 4,300 associates across the country.
Grange Insurance, | April 30, 2021
The insurance claims process is commonly regarded as a pivotal point in the customer experience journey. Grange Insurance has enabled next-generation policyholder interactions through the claims journey in response to changing customer expectations in the modern age.
Digital updates include:
• Two-way texting to enable Grange claims associates to connect with policyholders within multiple modes of communication
• Electronic claims payments for faster claims resolution and payment
• Proactive customer texts to keep our policyholders informed of their claim status throughout the claims process.
• These improvements are part of Grange and its associate partner Integrity Insurance's dedication to engaging in new solutions to provide exceptional customer experiences.
Grange has implemented next-generation business technology to provide claims customers with text message services. Policyholders will text pictures of their assigned insurance claims and get real-time answers to their claims questions when they need them the most. This program, which is powered by Hi Marley, an AI-based conversational service interface designed specifically for the insurance sector, needs no IT integration or app to get started.
Grange saw an improvement in its already high customer loyalty scores within months of allowing two-way texting capability. Grange policyholders may connect with their adjuster in a variety of ways, including phone and email.
Paying claims electronically
Grange policyholders can also receive claims payments more quickly due to a secure electronic settlement system built to expedite restitution. Customers who file a home, vehicle, or business claim with Grange will choose to pay their claims electronically. Customers who use this payment method will collect their electronic payment in as little as a few hours by direct deposit to a checking or savings account, direct deposit to a debit card, or instant prepaid virtual cards.
Other advantages of this new capability include the ability to easily navigate payment status in a touchless experience and reduce the chance of fraud through mailed checks.
Grange allows customers to have a say in how they want to receive claims payment in the manner they find most convenient.
Claims status notification
Grange also offers automatic text messages, enabling policyholders to access claim status notifications on their mobile devices quicker than ever before. Grange's mission, with further updates already in the works, is to make the claims experience more manageable and less frustrating, allowing policyholders to get back on their feet as soon as possible. Policyholders do have the option of participating or not, and their choices can be changed at any time.
Grange is deeply committed to protecting individuals and enterprises with exceptional service and takes tremendous interest in consumer loyalty, as shown by strong ratings from J.D. Power and positive customer feedback. The business is dedicated to keeping ahead of user preferences, attitudes, and desires to have a customized and effortless customer experience.
About Grange Insurance
Grange Insurance Company, with $3 billion in assets and more than $1.3 billion in annual revenue, is an insurance provider founded in 1935 and based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home, life, and business insurance protection. Life insurance is offered by Grange Life Insurance and Kansas City Life Insurance. Grange Insurance Company and its affiliates serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and Wisconsin