Insurance Endurance returns for the benefit of The Insurance Charities

Insurance Business America | April 18, 2019

Insurance Endurance, which saw more than 100 drivers participate in last year’s edition of the insurance industry motor sports event, returns to the 1,382 metre PFI Racetrack on June 25. The largest outdoor karting circuit in the UK is the site of the six-hour endurance kart race, where those working in or around the British insurance market get to ride Sodi GT5 karts while sporting racing suits. Also featuring a Pit Stop Challenge, the annual event is for the benefit of The Insurance Charities, which aids insurance workers in the UK and Ireland. In 2018 the charity provided over £1.2 million in assistance. Teams of between four and eight drivers compete in the race. The cost per team is £1,500 while individual day tickets, at £50, are available for sale to those who wish to spectate or mingle during the event.

Spotlight

The insurance industry is well on its way to going digital. Digital transformation has become the norm for companies across all industries, and insurance is no different. Nearly 70% of insurers in our study reported that their company is on the journey to digitally transform their infrastructure. Their top goals in this process are to better meet rising customer expectations and to derive greater insights through data.

Spotlight

The insurance industry is well on its way to going digital. Digital transformation has become the norm for companies across all industries, and insurance is no different. Nearly 70% of insurers in our study reported that their company is on the journey to digitally transform their infrastructure. Their top goals in this process are to better meet rising customer expectations and to derive greater insights through data.

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INSURANCE TECHNOLOGY

Sedgwick acquires Temporary Accommodations

Sedgwick | November 22, 2021

Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, announced it has acquired Temporary Accommodations, which provides high-quality, temporary housing and related services to displaced policyholders. As part of this strategic transaction, Temporary Accommodations joins Sedgwick's property Americas division and further builds on the company's end-to-end claims services from intake to field adjusting to temporary housing to building repairs, with solutions that enable insurers to fully support their policyholders. Founded in 1996 and headquartered in Atlanta, Temporary Accommodations locates temporary housing options for displaced insurance policyholders and helps to manage additional living expenses during home insurance claims following fire, water, wind and storm damage and emergency evacuations. As one of the largest providers of claims-related housing services, Temporary Accommodations focuses on cost management and stress reduction for a better customer experience, negotiating preferential housing and hotel rates and reducing insurers' indemnity spend. "The Temporary Accommodations team is well-known by insurance professionals and homeowners for their dedication to service and solutions for displaced homeowners, They are often on the front lines when disaster strikes, providing care and comfort to displaced families. Temporary Accommodations is a natural fit with the Sedgwick team, and joining forces will allow us to work together to support the entire claims journey and recovery process. We look forward to this partnership and to providing clients with end-to-end property claims solutions." - Steve Powell, Sedgwick executive vice president. "Our company grew from humble entrepreneurial roots into one of the largest providers of temporary housing services in the insurance space. Joining an industry leader like Sedgwick will take our work to the next level, Moreover, our 'TA cares' motto perfectly aligns with Sedgwick's 'caring counts' philosophy. TA's mission has always been to operate with unsurpassed empathy, integrity, service and attention to detail, and we will continue to do so as part of the Sedgwick family." - Aaron Wilson, founder, president and CEO of Temporary Accommodations. About Sedgwick Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to our clients' specific needs in casualty, property, marine, benefits, brand protection and other lines. At Sedgwick, caring counts; through the dedication and expertise of more than 27,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick's majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ), Onex and other management investors are minority shareholders.

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INSURANCE TECHNOLOGY

Cybersecurity Solutions for Buildings: A Launch by Schneider Electric and Claroty to Reduce Cyber and Asset Risks for Smart Buildings

Schneider Electric | June 20, 2022

Schneider Electric, the global leader in energy management, automation, and digital transformation, announced the launch of Cybersecurity Solutions for Buildings. This solution assists all building customers in securing their building management systems (BMS) to protect their people, assets, and operations. The collaborative solution with Claroty, a security company for cyber-physical systems in industrial, healthcare, and commercial environments, will combine award-winning technology with Schneider Electric industry expertise and services to identify all facility-wide assets, deliver unparalleled risk and vulnerability management capabilities, and provide continuous threat monitoring to protect enterprise investments. By 2050, it is expected that half of today's buildings will still be in use. This is causing commercial buildings to digitize their assets, including updating their building management system. Indeed, IoT technology for buildings is expected to grow from 1.7 billion connected devices at the end of 2020 to more than 3 billion by 2025. The integration of IoT in buildings is sparking an exciting shift across the sector, but like with any innovation, it also presents new risks, For threat actors looking to disrupt operations, benefit financially and/or achieve other objectives, and in so doing to put individuals at risk, buildings can appear to be the perfect target. It is with this in mind that we are partnering with Claroty to bring our customers a comprehensive, industry-leading solution that meets the unique security and operational risks facing buildings of today and of the future.” Annick Villeneuve, Vice President Digital Enterprise Solutions, Schneider Electric. Schneider Electric and Claroty's Cybersecurity Solutions for Buildings offer includes the following steps: asset discovery, risk assessment, remote access control, threat detection, and response. It will provide building owners, facility operators, and security teams with a simple solution that identifies baseline risks, reduce both cyber and asset risks and identify and remediates threats in their environment before service interruption. Schneider Electric's core mission in developing Cybersecurity Solutions for Buildings for our customers remains unchanged: by improving the resiliency of their buildings today. In the future, through an enhanced cybersecurity posture with the right technology and expertise, Schneider Electric works hand-in-hand with our customers as their digital partner for sustainability and efficiency, assisting them in making the most of their investments.

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CORE INSURANCE

Sapiens ReinsurancePro is Selected by Clear Blue Insurance Group

Sapiens, Clear Blue Insurance Group | April 29, 2021

Sapiens Americas, a completely possessed auxiliary of Sapiens International Corporation, a main worldwide supplier of programming answers for the insurance business, today reported a consent to convey Sapiens ReinsurancePro by the Clear Blue Insurance Group, a property and loss endeavor that gives business and individual insurance programs in organization with general offices and reinsurers. As a program expert organization that gives reinsurance markets admittance to essential US property and loss business, Clear Blue has many surrendered reinsurance contracts. To help meet the one-of-a-kind requirements and hazard hunger of their reinsurance accomplices, Clear Blue has an enormous assortment of agreement arrangements and equal reinsurance programs. Clear Blue is carrying out ReinsurancePro to help deal with the expanding volume and intricacy of its surrendered reinsurance technique. "Sapiens' answer hangs out in the business for its demonstrated capacity to improve productivity while extending our abilities to oversee for complex designs and absolute limit," said Peter Klope, Clear Blue COO. "This will empower Clear Blue to more readily serve our accomplices. ReinsurancePro's solid computerization and profoundly straightforward, the proficient stage will give auditable preparing, oversee complex reinsurance exchanges and rapidly react to new reinsurance contributions." Made and planned only for the reinsurance market by a portion of the business' driving specialists, Sapiens ReinsurancePro deals with the whole scope of reinsurance agreements and exercises for all lines of business. Underlying robotization of agreements, estimations, and cycles gives adaptable and full monetary control of the reinsurance measures, including reviewing necessities and legal consistency. Over 100, safety net providers overall utilize Sapiens' reinsurance arrangements. The choice to pick a cloud-based reinsurance framework was incited by two viewpoints: 1) openness of stage 24*7 from any spot, and 2) the requirement for extra IT assets now accessible as a feature of Sapiens oversaw administrations bundle. Sapiens' wide scope of oversaw administrations permits safety net providers to zero in on the fundamental business while utilizing the expert help of a group with personal information and aptitude. "Clear Blue was looking for a straightforward, smoothed out reinsurance organization stage with a limit with regards to following approach and claims exchanges, that robotizes complex bookkeeping assignments and is truly adaptable enough to change with new terms and conditions," said Roni Al-Dor, Sapiens president and CEO. "Sapiens incredible ReinsurancePro arrangement, our utilization of the Microsoft Azure stage, and the receptiveness of the information base tables were solid main considerations for Clear Blue. We are extremely satisfied to engage Clear Blue as they continued looking for full monetary control of the reinsurance measures and to empower them to address the issues of their reinsurance accomplices." About Sapiens Sapiens International Corporation enables backup plans to prevail in a developing industry. Sapiens offers advanced programming stages, arrangements, and administrations for the property and loss, life, benefits and annuity, reinsurance, monetary and consistency, laborers' remuneration, and monetary business sectors. With over 35 years of involvement conveying to more than 600 associations internationally, Sapiens has a demonstrated capacity to fulfill clients' center frameworks, information, and advanced necessities. About Clear Blue Insurance Group The Clear Blue Insurance Group is a property and loss insurance bunch furnishing insurance programs cross country in association with MGAs/program managers and reinsurers across the world. Clear Blue represents considerable authority in a wide assortment of business and individual line inclusions through its conceded lines and E&S transporters. The Clear Blue gathering comprises four P&C insurance organizations bunch appraised A - (Excellent) by A.M. Best: Clear Blue Insurance Company, Clear Blue Specialty Insurance Company, Highlander Specialty Insurance Company, and Rock Ridge Insurance Company.

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