Risk Management, Life Insurance
PR Newswire | August 11, 2023
Vitech Systems Group announced that it has been named a Leader of U.S. life and retirement (L&R) policy administration systems (PAS) in the ISG Provider Lens™ Insurance Platform Solutions report for the third year in a row. This report is conducted by Information Services Group (ISG) and offers an L&R PAS provider quadrant analysis and a comprehensive comparison of strengths, challenges, and competitive differentiators.
Vitech's V3locity cloud-native platform was commended in the study for its end-to-end functionality, flexible and agile operationalization, and robust support of group insurance benefits. Its capabilities enable quick time to value, straight-through processing, and an excellent user experience for employees, employers, and brokers.
Ashish Jhajharia, the author of the report, noted, "Vitech's V3locity cloud-native platform, which caters to the market with a system created exclusively for the group benefits area, offers a high degree of configurability, capabilities across the value chain and enhanced functionalities for carriers operating in this category."
According to ISG, L&R PAS quadrant Leaders possess a comprehensive product and service offering, a strong market presence, and an established competitive position. They also represent innovative strength and competitive stability.
"We are thrilled that Vitech has once again achieved the prestigious recognition of Life & Retirement Insurance Platform Solutions Leader by ISG," said David Burns, Vitech's CEO. "Receiving this recognition for the third consecutive time is market validation that our focus on innovation and unwavering commitment to providing market-leading capabilities and services continues to bring exceptional value to our customers and their beneficiaries."
V3locity is Vitech's cloud-native administration, engagement, and analytics platform. It is a transformative suite of complementary applications that offers full life cycle business functionality and robust enterprise capabilities. It marries core administration with a revolutionary digital experience. Its modular design enables flexible, agile deployment strategies. V3locity employs a cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency.
About Vitech®
Vitech is a global provider of cloud-native benefit and investment administration software. The organization helps their insurance, retirement, and investment clients expand their offerings and capabilities, streamline their operations, gain analytical insights, and transform their engagement models. Vitech employs more than 1,400 professionals, serving the world's most successful insurance, retirement, and investment organizations. An innovator and visionary, Vitech's market leadership has been recognized by industry experts, such as Gartner, Celent, Aite-Novarica, and ISG. For more information, please visit vitechinc.com.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 70 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry's most comprehensive marketplace data. For more information, visit isg-one.com.
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Core Insurance, Insurance Technology
PR Newswire | August 25, 2023
Careington Benefit Solutions, affiliate of Careington International Corporation, announces the expansion of its service offerings to now include customizable commercial lines for property and casualty insurance. Backed by more than 40 years of industry experience, Careington Benefit Solutions is a single-source solution for insurance, administrative and marketing solutions.
As a nationally licensed insurance agency and Third Party Administrator, Careington Benefit Solutions wanted to broaden its existing suite of insurance products to include business and commercial coverages including liability, business property, workers compensation, commercial automobile, cyber security and more. This new program is designed to provide businesses with a custom, industry-specific risk management solution. With a wide variety of carriers and products to choose from, Careington Benefit Solutions' High Performance Sales Unit consists of nationally licensed Life & Health and Property & Casualty agents that can help clients shop coverage options, get cost-free quotes and enroll in a commercial line insurance policy that is tailored to the specific needs of small employers.
"We are proud to expand our property and casualty coverage options to include commercial lines," said Chuck Misasi, Executive Vice President of Direct Marketing and Customer Engagement at Careington Benefit Solutions. "After successfully providing protection to individuals and their families with our personal lines coverage options, we recognized that we could bring the same white-glove approach to businesses to address their unique financial risks. With this new program, we're offering customized risk management solutions to businesses across a wide variety of industries."
Beyond commercial lines insurance, Careington Benefit Solutions offers a robust suite of insurance products, as well as 150+ money-saving health, wellness, lifestyle and virtual health products. Careington Benefit Solutions partners with industry-leading carriers nationwide to offer a range of innovative, competitive solutions. As a TPA, Careington Benefit Solutions is a single-source solution that expertly manages licensed enrollment, billing, claims processing, customer service, policy fulfillment, custom product development and more. Careington Benefit Solutions serves employers of any size or industry, carriers, Medicare Advantage companies, TPAs, associations, unions, affinity groups, municipalities, school districts, colleges and universities, dental support organizations and brokers and benefits consultants.
"Careington Benefit Solutions is dedicated to delivering competitive insurance product options and full-scale administrative services to our diverse clients nationally," said Careington Benefit Solutions Chief Executive Officer Stewart Sweda. "We are always looking to enhance our product and service offerings, and we are pleased to now be able to connect small employers with the coverage they need to protect their businesses against potential financial damages."
About Careington Benefit Solutions
Careington Benefit Solutions, an affiliate of Careington International Corporation, is a nationally licensed insurance agency and Third Party Administrator that provides a range of competitive insurance product options and comprehensive suite of administration services, including claims administration, individual and group billing, premium collection, enrollment, policy fulfillment, custom product manufacturing and more to support our many diverse clients, including large insurance companies. Our flexibility in the level of administrative support we provide allows us to customize any client solution as an a-la-carte scenario or a complete turnkey option as a single-source product, service and administrative solution. Careington Benefit Solutions includes a direct-to-consumer brand, QuoteSavant, created to help consumers navigate the complex process of buying insurance. Our licensed agents shop top plans and provide quotes to help individuals find coverage to fit their budgets. To learn more about QuoteSavant's personalized policy shopping process, visit www.quotesavant.com.
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Risk Management, Insurance Technology
PRnewswire | July 17, 2023
Today, HawkSoft welcomes Canopy Connect into its Solution Partner program. HawkSoft has worked with Canopy Connect in an informal capacity for several years, including a joint project involving API connectivity platform, InsuranceGIG that enabled automation between HawkSoft's agency management system and Canopy Connect's insurance verification system. This announcement celebrates the formal recognition of Canopy Connect as a key player in solving pain points for independent insurance agents including an ever-increasing portion of HawkSoft's customer base.
More than eight thousand insurance agents use Canopy Connect to easily collect verified insurance information from their prospects. Agents can send custom links that allow prospects to sign into an insurance carrier and securely share their policy details with the agency. All policy information, drivers, vehicles, and dwelling information can be exported directly into HawkSoft's insurance platform via an API connection through InsuranceGIG. Canopy Connect enables insurance professionals to demonstrate their expertise on navigating risk with a more complete view into a prospect's existing or prior policies.
"We share a common vision of helping agencies grow and removing friction from the agent and client experiences," said Tolga Tezel, founder and CEO at Canopy Connect. "That's why we're excited to be a Solution Partner with HawkSoft, which empowers us to deliver great experiences to agencies together."
"Independent agents need to become trusted experts for their policyholders," said Rushang Shah, CMO at HawkSoft. "To do that, agents need to intimately know their clients and their specific risk management needs. Canopy Connect makes this simple by automatically ingesting verified insurance information from each client's current personal and commercial policies. Agents no longer have to hunt and verify data from different carriers and policies."
Agencies that use HawkSoft as their management system can receive 10% off of Canopy Connect for the first year of service.
About HawkSoft
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.
About Canopy Connect, Inc.
Canopy Connect enables insurance agencies to collect verified insurance information directly from carriers in seconds, resulting in a better client and agent experience. Through its consumer consent-driven data sharing technology and secure cloud infrastructure, Canopy Connect enables insurance agencies, agents, carriers, lenders, and insurance innovators to deliver delightful, intelligent, and frictionless insurance services.
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