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

There are some common misconceptions about life insurance. These range from people believing they don't need it to whether insurance companies pay out when they should.

Spotlight

There are some common misconceptions about life insurance. These range from people believing they don't need it to whether insurance companies pay out when they should.

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CORE INSURANCE

Bluevine Expands Insurance Partnerships to Provide Small Businesses with Tailored Insurance Solutions

Bluevine and Coalition | October 18, 2022

Bluevine, the leading provider of holistic banking solutions designed for small businesses, today announced the expansion of its small business insurance offerings to include Active Cyber Insurance offered by Coalition, one of the world's leading cyber insurance providers, in addition to its existing small business insurance provider, NEXT Insurance. With the addition of Coalition's cyber insurance offerings, Bluevine is providing the small business community seamless access to explore insurance providers right from their account dashboard. Available now, Bluevine Business Checking customers can research a broad set of insurance products and complete the steps to receive a customized insurance quote from our partners. Finding the right business insurance provider remains a confusing and significant pain point for small business owners looking for reliable coverage from a trusted source. Often, small business owners rely on recommendations from the small business community to determine their insurance needs, but this can leave them with ill-fitting policies that don't address the specific needs of their small business. As many as 75% of small businesses in the U.S. are underinsured, and 40% do not have any insurance, pointing to an acute need for insurance solutions designed with this community in mind. "After the initial success of our small business insurance partnership with NEXT last year, we took a closer look at the gaps our customers might still have with their insurance policies and worked to close them, By partnering with Coalition and NEXT, Bluevine is serving the broader small business community by providing in-dashboard access to trusted insurance companies that support the small business community on their journey to grow and scale." -Eyal Lifshitz, CEO and co-founder of Bluevine Since the launch of Bluevine's insurance partner program, 28% of customers have clicked through to learn more, and thousands have continued on to receive quotes from Bluevine's licensed insurance partners. These partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform. When we first started our business, we looked for insurance from multiple sources, but when we signed up with Bluevine and learned more about what their insurance partners offer, it made the process so much easier, They helped us learn what we need for our business and get a quote. I would recommend it to anyone who is looking for insurance. We are very happy with our policy,said Daphne Simmons, owner of Ovrtake Fitness. Overall, these partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform. Active Cyber Insurance offered by Coalition provides a new integrated approach for companies to manage cyber risk. Coalition's offering provides small and midsize companies with cybersecurity tools, active monitoring, and anytime access to digital forensics and incident response services, combined with insurance coverage provided by well-known insurance carriers. By identifying and mitigating digital risk, policyholders that choose Coalition's offering experience 50% fewer cyber claims than the broader U.S. market, with 45% of incidents resolved at no cost. In our experience, many cyber criminals are opportunistic, particularly when it comes to small organizations. No company is too small to be an enticing financial opportunity for attackers, Choosing to go with Coalition's Active Cyber Insurance offering can help a small business avoid a potentially catastrophic cyber incident – like a ransomware attack – where financial costs could cripple a business. We are delighted to bring Coalition's product offering to Bluevine customers with the aim of increasing access to cyber insurance for organizations of all sizes and continuing to prevent digital risk before it strikes,said Catherine Lyle, Coalition's Head of Claims. By providing access to multiple insurance offerings for new and existing digital banking customers, Bluevine is providing entrepreneurs with curated partnership solutions that support their goals. Starting today, existing Bluevine Business Checking customers can log in to their account dashboard and determine the best insurance provider for the current stage of their business. This insurance dashboard expansion enables Bluevine to help solve the ongoing financial needs of small businesses by providing entrepreneurs with access to trusted and best-in-class insurance products quickly and seamlessly. About Bluevine Bluevine provides small businesses with fast and simple access to holistic banking solutions built with them in mind. Bluevine's advanced online platform offers an intuitive, convenient solution designed to meet the financial needs of today's business owners with a suite of products including Bluevine Business Checking, Bill Pay, and Line of Credit. Since launching in 2013, Bluevine has served more than 450,000 small businesses and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft's Venture Arm). Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Banking Services provided by Coastal Community Bank, Member FDIC. About Coalition Coalition is the leading provider of Active Insurance, combining comprehensive insurance coverage and cybersecurity tools to help businesses manage and mitigate digital risks. Through its partnerships with leading global insurers, including Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, and Vantage, Coalition offers its Active Insurance products in the U.S., U.K., and Canada, and its security products to organizations worldwide. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates both digitally and in office hubs.

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AUTOMOBILE INSURANCE

Verisk launches EV Database for UK and Irish motor insurance markets

Verisk | October 17, 2022

The number of electric vehicles sold in the UK and Ireland continues to rise. The risk profile of cars on the road is changing, making access to technical electric vehicle data critical for insurers and brokers. To help support strategic underwriting and pricing decision making, Verisk (Nasdaq: VRSK), a leading global data analytics provider, announced the launch of its Electric Vehicle Database for the UK and Ireland. Verisk’s Electric Vehicle Database is a proprietary, technical dataset for all new and existing models of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The Database provides insurers, brokers, and MGAs with a pivotal advantage in the electric vehicle space, with access to over 175 technical attributes. These attributes include an EV’s battery, efficiency, and performance, as well as information on each vehicle’s acceleration, top speed, range of a single charge in different conditions, battery capacity, charger location and warranty period. “We’ve entered the electric motor age, and Verisk is uniquely equipped to help insurers to create new rating attributes for prediction of risk associated with EVs, Verisk is working with its customers to bring new datasets and services that help them to continue to make well-informed decisions as technologies and regulations change.” -Jonathan Guard, commercial director, Ireland, Verisk All of the electric vehicle datasets are available via batch append services or through Verisk’s Data Insight Hub, a continuously expanding source of insurance data and analytics accessible at any part of the customer journey, including the point of quote. Verisk is a leading provider of motor vehicle data and services to insurers, MGAs and brokers in the UK and Irish market. Such services include matching vehicle registrations to rating code groups, claims alerts, technical data and new datasets such as windscreen data. The Verisk Data Insights Hub provides these datasets and services, including the Electric Vehicle Database in a fast automated API service that meets the needs of the market’s point of quote services. About Verisk Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong.

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LIFE INSURANCE

Industry’s first indexed whole life insurance product combines guaranteed protection with significant growth potential

Ohio National | September 07, 2022

In the life insurance industry, something totally new comes along only once in a great while. Game changers are rare, and this is one of them. Ohio National Financial Services, Inc. proudly announces the first and only indexed whole life insurance product, providing what no other life policy can: guaranteed protection, stability and index-based growth potential. Indexed whole life from Ohio National provides a lifelong death benefit and cash accumulation guarantee, along with fixed premiums regardless of changes in health. These features have served generations of policyholders in the company’s traditional whole life products. With new indexed whole life, customers can get similar guarantees plus the opportunity to grow cash value in relation to stock market indexes such as the S&P 500® and Russell 2000®. Indexed-based allocation options offer significant growth potential, but because funds are not invested directly in the market, there is no risk of loss due solely to market performance. The cash value can be accessed during the insured’s lifetime, generally on a tax-preferred basis, for almost any purpose, from supplementing retirement income to starting a business. “Our new indexed whole life product is an important breakthrough for Ohio National and the financial professionals who sell our products, We’re thrilled to offer them a unique tool to help their clients reach their financial goals.” -Karl Kreunen, vice president of product marketing This product is something financial professionals can’t find anywhere else, We’re passionate about helping them develop client relationships and build their businesses with the addition of indexed whole life to their portfolios,added Pat McEvoy, senior vice president of life distribution and sales. Ohio National’s debut indexed whole life product, Prestige Indexed 10 Pay, features 10 years of fixed premium payments and is currently available through independent financial professionals in all states except CA and NY. About Ohio National Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2021, its affiliated companies have $40.8 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Recognized as a Leader in Workplace Equity by Ellequate.

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