CORE INSURANCE, COMPLIANCE
PRnewswire | April 21, 2023
BrokerTech Ventures (BTV), the industry's first broker-led convening platform and accelerator program, today announced the addition of its newest industry-leading insurance wholesaler partner, Jencap Group.
"We could not be more pleased to announce the addition of Jencap to our wholesaler community network. We view our carrier and wholesale partners as integral in terms of our overall strategy in building out BrokerTech Ventures — and specifically, our Innovation Tower," said Dan Keough, Holmes Murphy chairman and CEO and co-CEO of BTV. "Insurance companies are individually spending multi-millions of dollars each year in innovation, and we believe that BTV can be the convening platform to provide access into the unknowns, idea-sharing, investing, and distribution for the benefit of all."
The addition of these renowned insurance brands brings the BTV industry portfolio to 13 of the most sizable and innovative brokerage firms in North America and 16 of the most notable and respected insurance companies and wholesalers with both domestic and international presence.
"Jencap is committed to employing innovative technology solutions that improve our speed to market, operational efficiencies, data analytics, and the overall platform experience of our partners," said John LaCava, Jencap's Chief Operational Officer. "We look forward to collaborating with BTV members and insurtech companies to maintain our position in the marketplace as industry leaders."
In addition to its expansive broker and carrier partner portfolio, BTV now also represents 60 insurtech startups from around the world, inclusive of those in the U.S., Israeli, and Latin American accelerator programs, with investments and commercial engagements with many.
About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures (BTV) is the first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry. Founded in 2019, BTV provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BTV invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels.
About Jencap Group
Jencap is one of the largest wholesalers in the U.S. with notable industry-leading expertise in wholesale brokerage, binding authority, and program management. Its specialized divisions and affiliate organizations provide niche underwriting prowess, broad market access, and nationwide influence. Headquartered in New York, Jencap leverages its collective power to exceed the expectations of more than 20,000 independent agency partners.
WORKERS COMPENSATION, INSURANCE TECHNOLOGY
PRnewswire | June 08, 2023
NEXT Insurance, a leading digital insurtech transforming small business insurance, today announced its expanded partnership with Gusto Embedded. The strengthened partnership will exclusively offer NEXT's pay-as-you-go workers' compensation to the small business customers of Gusto Embedded partners through NEXT's industry-leading, fully embedded insurance solution, NEXT Connect. Users can benefit from NEXT's technologically advanced, in-house pay-as-you-go offering for workers' compensation which enables better cash flow management for small businesses and ensures they only pay for the coverage they need. This solution marks the first time workers' compensation insurance is being offered through an embedded payroll experience.
Available now, small business owners can get a free quote within minutes and sign up for a pay-as-you-go workers' compensation policy to protect their businesses from unexpected expenses, all within the third-party SaaS platforms, taking advantage of this unique embedded fintech partnership.
"NEXT and Gusto Embedded unite under the shared goal of supporting small businesses across the U.S. with the tools they need to simplify two of the most complex functions they'll face at work: insurance and payroll," said Eran Liron, Chief Strategy Officer at NEXT Insurance. "Offering this digital embedded payroll experience together with Gusto allows us to streamline this process, making it easier and more convenient for small business owners to stay compliant and protect themselves, all from the partners they trust most."
With NEXT Connect, signing up for workers' compensation can be seamlessly integrated into a third-party software at the time of payroll onboarding or elsewhere in the user interface. This enables more contextual offers for payroll and workers' compensation based on customer data or activity, including in-app notifications about the next steps that should be taken once you've hired your first employee. NEXT and Gusto Embedded's partnership enables a more convenient way for small businesses to stay compliant and protect themselves.
"Allowing small businesses to access reliable payroll and pay-as-you-go workers' comp products embedded in the software solutions they use already saves them time, reduces errors, and gives them peace of mind," said Yi Liu, General Manager of Gusto Embedded. "The expanded solution with NEXT allows our partners to offer small businesses workers' compensation seamlessly and quickly, while also advancing our goal of helping businesses create great places to work and helping our partners grow revenue."
NEXT Connect enables small business partners in industries including payroll, POS (point of sale), accounting, e-commerce, banking and others to purchase fast and affordable insurance coverage in a way that is convenient for them, either entirely online or with the assistance of a licensed insurance agent.
About NEXT Insurance
NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by over 450 thousand business owners, NEXT offers policies that are easy to buy and provides 24/7 access to Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and provide more affordable coverage. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $881 million in venture capital funding, is rated "A- Excellent" by AM Best and has been recognized by CNBC Disruptor 50, Forbes Fintech 50, Inc.'s Best-Led Companies, and Forbes Best StartUp Employers. To learn more about partnering with NEXT and the value of embedded insurance, please visit NEXT's partner page. Stay up to date on the latest with NEXT on Twitter, LinkedIn, Facebook and our blog.
Gusto is a modern, online people platform that provides more than 300,000 SMBs with the tools and services they need to hire, pay, insure, and support their teams. Gusto Embedded, a developer platform and support infrastructure, enables software platforms to offer in-app, modern payroll products to their customers as well. With Gusto Embedded, SaaS developers can leverage Gusto's 10+ years of experience as well as Gusto's tax filing, payments, and compliance infrastructure in order to build deeply integrated, tailored payroll products that improve the user experience and drive revenue.
CORE INSURANCE, INSURANCE TECHNOLOGY
Globenewswire | May 22, 2023
Applied Systems® today announced that VP Custom Insurance Solutions has selected Applied Digital Agency to digitally transform their business and customer service models. The agency will leverage Applied Digital Agency to connect the digital roundtrip of insurance and automate day to day operations to increase staff productivity and enable their ambitious growth agenda beyond California.
“As a woman-owned business in a male-dominated field, we’re excited to make a name for ourselves with our forward-thinking approach,” said Ashlynne Vega, Co-Owner, VP Custom Insurance Solutions. “The insurance industry continues to become more tech-focused, so agencies need to keep up or risk getting left behind. Partnering with Applied will elevate our agency and help us stay ahead of the curve.”
Applied’s Digital Agency solution consists of a foundational management system, online customer self-service and mobile technology, commercial lines application digitization and automation, and insurer connectivity, all hosted in the cloud. The fully integrated solution enables agencies to create higher-value business transactions and deliver superior customer experiences throughout the entire insurance lifecycle. By leveraging integrated applications that enable agencies to manage their entire business and eliminate duplicative work typically caused by multiple, disparate systems, digital agencies operate more efficiently, improve customer service, and accelerate growth and profitability across all lines of business.
“Growth-minded agencies are smartly turning to technology more and more to modernize their sales and marketing efforts while automating low value tasks,” said Anupam Gupta, Chief Product Officer, Applied Systems. “Applied’s Digital Agency software will enable VP Custom Insurance Solutions to simply their staff’s daily tasks and make the customer lifecycle – from prospecting to quote, bind, service, and renewals – more modern at each touchpoint.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.