Insurance and innovation share common goal

insurancebusinessmag | May 27, 2019

The insurtech tide is rising. Innovation has reached such heights in Canada that incumbent or legacy insurers can no longer swim against the tide and survive. Now, the onus lies with insurance companies in Canada to surf the insurtech riptide and build partnerships and alliances in order to bring innovation to Canadian consumers.Surfing the insurtech riptidewas the theme of the Insurtech North 2019 conference, held last week in Toronto. Emcee Guy Fracker, chief innovation officer at Insurance Thought Leadership, said the theme represents the wave of insurance and risk-focused start-ups emerging in North America, as well as the budding partnerships they’re starting to build with incumbent insurance firms.

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CORE INSURANCE

Ascend Partners with Agency Collective As The Preferred Payments & Financing Platform For 700+ Insurance Agencies & Independent Agents Across The US

Ascend and The Agency Collective | August 22, 2022

Ascend, the first modern insurance payments platform, has been officially endorsed by The AC as their preferred payments and financing platform for its vast member network. Ascend is the first modern insurance payments platform that provides automated all-in-one financing, collections, and payables. The AC is a premier network partner for insurance agencies. They host a network of over 700 agencies and help agents transition from captive to independent models. They are committed to the success of the independent agency channel across the insurance industry. "We are thrilled to partner with The AC and their network of agency members as we believe in serving the independent agency channel and their clients, This partnership will help ease the transition so many agents are making into the independent model by providing them with our modern payments platform that simplifies and streamlines the insurance payments process for all parties involved – including agents and agencies of all sizes." -Chris Peabody, Head of Strategic Partnerships The AC is aligned with Ascend in terms of forward-thinking technology solutions for independent agents to improve internal processes and provide a modern checkout. Their network of agency members will be able to leverage Ascend's technology to solve the inefficiencies of today's agency bill and premium financing processes. We pride ourselves on working with innovators and companies that not only align with our mission to help independent agents but also enhance it, Ascend is tackling one of, if not the, biggest pain points that agents are dealing with – the antiquated and cumbersome payments system. We're proud to endorse them and engrain them into our network of agents,says Kenny Urbania, CEO at The AC. This is one of many partnerships and alignments Ascend has been a part of this year, as they deepen their relationships with other insurtechs, MGAs, AMS, and carriers to complement the innovations being made by companies in the insurance market. About Ascend Ascend is the modern insurance payments platform that provides automated all-in-one financing, collections, and payables. Founded by two-time insurtech entrepreneurs Andrew Wynn and Praveen Chekuri, Ascend helps distributors sell more by eliminating labor-intensive, expensive processes while providing customers with the great online checkout and financing experience they've come to expect. About The Agency Collective The AC is a new type of agency network that offers a suite of tools to its partner agencies. It was founded in 2019 by a group of formerly Nationwide agents who are now independent. The AC currently works with close to 700 agencies of all sizes, whose continued growth is supported through carrier access, business tools, and services.

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INSURANCE TECHNOLOGY

Embedded Insurance Platform Mulberri Raises $4M Seed

MULBERRI | July 29, 2022

Mulberri, the business insurance platform for modern PEOs and brokers, announced it has raised a $4 million Series Seed led by a consortium that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio). A shared platform that makes business insurance easier to access and manage, Mulberri will use the funding to continue to expand its infrastructure and data modeling to help make business insurance more simple, efficient, and transparent. “For far too long, business insurance has been stuck in the 20th century, and that has had major ramifications for PEOs and brokers who have wanted modern solutions, but lacked access to them,” said Hamesh Chawla, CEO and co-founder of Mulberri. “For far too long, business insurance has been stuck in the 20th century, and that has had major ramifications for PEOs and brokers who have wanted modern solutions, but lacked access to them,” said Hamesh Chawla, CEO and co-founder of Mulberri. “We’ve been gratified by the enthusiastic response to Mulberri from investors and insurtechs alike. Looking towards the future, we’re excited to continue building out our technology so we can help even more PEOs and brokers reach their highest potential.” The process of buying, selling, and managing business insurance has always been complex, but increasingly it has become too slow. With manual workflows, archaic processes, and low-tech solutions, business insurance processes have lagged behind other insurance sectors, which have embraced automation and data-first approaches. But that’s where Mulberri comes in. Launched in 2021, Mulberri is the first business insurance solution purpose-built for PEOs and brokers. Mulberri’s technology enables PEOs, brokers, and carriers to come together to write business and helps them make intelligent data-driven decisions. “Business insurance processes have been long overdue for an overhaul,” said Jon Soberg, Managing Partner at MS&AD Ventures. “Mulberri recognized this problem and has developed an innovative, streamlined solution.” Mulberri delivers on the speed, transparency, and efficiency that PEOs and brokers have been asking for. The platform provides smart submission intake, automated quote and bind, data-driven insurance management, and easily accessible protection and monitoring services. It also optimizes PEO business workflows, speeds up client acquisition, and provides risk analytics by integrating with multiple systems like HRIS, Payroll and others. “Mulberri’s embedded platform empowers each one of the critical parties –– the SMB, the PEO, the broker, and the carrier –– while meaningfully leveling up automation and ease of doing business for the industry as a whole. Mulberri uses the sort of convolutional neural networks that we have successfully deployed in other industries, from energy to defense,” said Joseph Malchow, founding partner of Hanover Technology Investment Management. “Ultimately, that means a faster-growing book of business and happier customers. Hanover is proud to partner with Hamesh and the Mulberri team to transform business insurance.” ABOUT MULBERRI Mulberri is a pioneering embedded insurtech that is revamping the way insurance is delivered. Launched in 2021, Mulberri is the first business insurance solution purpose-built for PEOs and brokers. Mulberri’s technology enables PEOs, brokers, and carriers to come together to write business and helps them make intelligent data-driven decisions. To learn more, visit https://www.mulberri.io/.

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LIFE INSURANCE

OneAmerica® Launches Variable Universal Life Insurance

OneAmerica | September 21, 2022

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