INSURANCE TECHNOLOGY
Patriot Growth Insurance | July 01, 2022
Patriot Growth Insurance Services, LLC (Patriot), one of the nation's largest and fastest-growing insurance agencies, announces a new partnership with Massachusetts' McCormick & Sons Insurance Agency. McCormick & Sons Insurance, based in Avon and Waquoit, has been serving the communities of Norfolk and Barnstable County as an independent agency since 2007.
McCormick & Sons, led by David McCormick, offers personal and commercial insurance to over 2,000 customers. The McCormick agency will merge with FBinsure, a Patriot partner agency, and the entire customer service team will continue to serve their clients with the same high-level professional care they have come to expect.
It was important for us to ensure our clients would be able to work with the same familiar faces they have trusted for years, all while increasing their access to additional products and services. This partnership is right for our clients and employees, and the benefits will be felt for years to come."
David McCormick, President of McCormick & Sons.
We are delighted to welcome McCormick & Sons Insurance Agency to the FBinsure family. We are delighted that, as a well-known agency in a new community, they have chosen Patriot and FBinsure to propel their agency forward while maintaining critical client relationships. We are confident that their clients will notice a difference in their future experiences."
Russ Martorana, President and CEO of FBinsure.
This is Patriot and FBinsure's fifth collaboration in the last year. Tino's Insurance Agency joined in January, followed by the Durand Insurance Agency of Seekonk, Exchange Insurance, and Paul B. Sullivan Insurance.
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INTELLECTUAL PROPERTY
MarshBerry | January 19, 2022
MarshBerry, a leading investment banking and consulting firm serving the Insurance Distribution and Wealth Management industries, is pleased to announce its partnership with Atlas Merchant Capital ("Atlas").
The new partnership will help MarshBerry accomplish its growth goals by improving and expanding services to create even better outcomes for clients. This partnership provides access to additional resources to help execute on strategic growth initiatives including expanded client solutions and acquisitions domestically and in Europe.
"This is a really important event for our company. Partnering with Atlas advances our ongoing efforts to aggressively and intentionally grow and improve in all facets of our business, which will translate directly into benefits for our growing client base, Our leadership team remains committed, invested and excited about how this will help us continue to grow by enhancing the solutions provided to our client base."
-John Wepler, MarshBerry CEO and Chairman.
"We have been impressed with the accomplishments, growth and vision of MarshBerry and believe our investment will serve as a springboard to achieve the near-term and long-term strategic goals,"
- Colin Savage, Atlas Managing Director, Head of North America Investments.
Houlihan Lokey served as financial advisor to MarshBerry in connection with the transaction.
About MarshBerry – Helping Clients Learn, Improve & Realize Value
Founded in 1981, MarshBerry serves the insurance distribution and wealth management industries, including insurance agents & brokers, specialty distributors, private equity firms and wealth management firms. MarshBerry's industry-specific services help clients build, enhance and sustain value through: Merger & Acquisition Advisory*, Debt & Equity Capital Raising, Financial Consulting, Market Intelligence & Benchmarking, Organic Growth Consulting, Connect Executive Peer Exchange and Connect Platform Aggregation. Learn more at www.MarshBerry.com.
About Atlas Merchant Capital LLC
Atlas Merchant Capital LLC was founded to participate in compelling market opportunities in the financial services sector. Based in New York and London, Atlas Merchant Capital was founded by Bob Diamond and David Schamis, who together with their partners form a complementary partnership with extensive operating and investing expertise across the financial services landscape.
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INSURANCE TECHNOLOGY
OWIT Global | December 02, 2020
OWIT Global, a provider of insurance-specific microservices solutions for the global insurance industry, declares a serious arrival of their Bordereaux Management Solution. The new delivery grows insurance-specific business rules, furthers usefulness to help approaching and active data takes care of, and contains extra pre-characterized execution dashboards.
The Bordereaux Management Solution fathoms the insurance business' need to automate bordereaux preparing for MGAs, Carriers, and Brokers.
“We continue to advance our solution with input from our existing customers. For the carrier, we support complex data sets from multiple formats, such as excel spreadsheets with multiple cross-referenced tabs and delimited/fixed-length file formats. For our MGAs, we support extraction and mapping of the data from multiple databases to various carrier contract formats,” said Wendy Aarons-Corman, Chief Executive Officer of OWIT Global. “Our solution also has an analytics service built-in, providing our customers with operational dashboards to evaluate the data running through the solution.”
The OWIT Global Bordereaux Management Solution is a no-code, configurable climate, giving the intensity of onboarding and overseeing bordereaux data streams to the business client. Data is burned-through, scrubbed, and changed into an ideal yield record. Rules and outsider calls to approve data is likewise upheld.
“Our customers are experiencing an immediate ROI. The time to configure and test has a dramatic reduction compared to the traditional model,” Aarons-Corman continued. “We encourage the industry to take some time to investigate our solution. There is a huge advantage in leveraging an insurance-specific solution that is continually advancing with input from other insurers. It is a great opportunity to get a feature-rich solution at a reasonable cost.”
About OWIT GLOBAL
OWIT is a global insurance technology provider offering solutions built on a modern architecture designed to simplify innovation and integrate with existing customer environments to maximize their investments. The OWIT portfolio is comprised of discrete, value-add insurance-based microservices for Bordereaux, Rules, Rating, Portal Configuration, A&H, and Specialty Point of Sale and Document Generation with future capability to tailor a full suite of Policy Administration System (PAS) microservices. The company's offerings can be deployed standalone or integrated with an insurer’s existing environment. OWIT's architecture is also designed to support emerging technologies and functionality, such as blockchain and IoT.
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