CORE INSURANCE, INSURANCE TECHNOLOGY
Inszone Insurance Services | February 20, 2023
Inszone Insurance Services, a personal and commercial lines insurance services provider, has recently announced the integration of David Tennant Insurance Agency. This acquisition would enhance its insurance services and provide more options for insurance to its customers in California.
David Tennant Insurance Agency started in 2002 and has name after its founder Dave Tennant. Dave Tennant started as an insurance agent in his father’s Lake Tahoe Insurance agency from 1982 to 1986 when his father sold the company. He has also worked as an exclusive agent in Allstate Insurance company from 1996 to 2002. Being an experienced insurance professional, he decided to open his agency and is now acting as a Principle in the Tennant Insurance Agency. Here, he strategizes client relationship management, controls the products, and can give his clients the best rather than meet company quotas. Being principle he has fostered his relationships with his clients over decades, extending the relationship from professional to personal. He was also a member of his local rotary club for 25 years, where he was also nominated as president and will continue to be active in his community.
Inszone always strives to improve the customer experience at every stage of policy purchase. It ensures that customers understand their insurance needs, coverage, and the insurance policy they are about to purchase. It acts like an insurance partner to the customers rather than an insurance agency. This acquisition represents its commitment to customer enhancement.
CEO of Inszone Insurance Services, Chris Walters, said, “The acquisition of David Tennant Insurance Agency will make a great addition to the Inszone family.” He added, “This acquisition is an essential step on our continued journey to providing more options and enhanced service to customers in California.”
(Source – Business Wire)
Headquartered in Rancho Cordova, California, Inszone, an insurance services provider, has expanded its insurance space since 2002. It is a full-service insurance agency handling the customers' personal and business insurance requirements. In addition, it provides services for umbrella insurance, group dental and vision insurance, group health insurance, group life insurance, special event insurance, landlord insurance, renters insurance, motorcycle insurance, auto insurance, commercial property insurance, general liability insurance, workers compensation, homeowners insurance pet insurance, disability insurance, and employee benefits. It has offices in California, Illinois, Texas, Missouri, Nevada, Utah, Colorado, and Arizona, serving all 50 states of America.
RISK MANAGEMENT,INSURANCE TECHNOLOGY
Vouch | December 27, 2022
Vouch, known as the 'Insurance of Tech,' recently launched the first insurance solution for Web3 companies. Under this, it will cover Web3 companies with insurance policies, including smart contract vulnerabilities, DAOs, crypto, and more.
"The global insurtech market size is expected to expand at a compound annual growth rate (CAGR) of 51.7% from 2022 to 2030."
- Grand View Research
In the past year and a half, about 3,000 startups have raised almost $40 billion. Many of these are run by founders who are building strong companies that solve real problems for real users. Till now, Web3 companies had to settle for insurance that didn't meet their needs or make do with what they already had, which eventually slowed their growth.
Vouch has become the most trusted partner by getting $160 million from the best companies in Silicon Valley. Its newest market includes Web3 companies, while Ansible Labs, Bitwave, Stardust, and Utopia Labs are some of its launch clients.
Traditional policies tend to leave crypto out, but Vouch's Web3 Protection Policy covers that. In addition, the policy includes four coverages that can be expanded to cover key Web3 risks based on the needs of the client:
Directors & Officers (D&O) insurance helps protect the company and the personal assets of its founders, officers, and board members from claims of wrongdoing, such as misrepresentation or breach of fiduciary duty, as well as the costs of responding to or defending against the claims.
Errors and Omissions (E&O) insurance protects the company when a customer claims that the company's services caused them to lose money.
Cyber: It helps pay for data breaches caused by mistakes, hacking, and social engineering. It also protects against privacy violations, security failures, and system failures.
Crime: Helps protect the company from employee theft, forgery, and fraud, as well as some digital assets.
Vouch has built a strong partner network to meet the needs of its Web3 customers in addition to its coverage. In the partner network, Fireblocks is responsible for direct custody technology, Silicon Valley Bank for banking, Upside for token management, and Tactic for accounting.
Vouch Insurance is a new type of insurance platform for startups that is trusted by the startup industry's biggest names, including Y Combinator and Silicon Valley Bank. Everything has been designed for startups by experienced founders, from onboarding to claims. The company, which has offices in San Francisco and Chicago and whose fully digital coverage can be activated in minutes, assists clients in managing, mitigating, and avoiding risks.
CORE INSURANCE, INSURANCE TECHNOLOGY
Branch | February 13, 2023
Branch®, a full-stack insurance business that uses technology, data, and automation to make home and vehicle insurance more accessible and affordable, has introduced condo insurance, increasing its selection of instantly bindable products. Condo insurance will be launched across Branch's accessible states, beginning with Ohio, in the coming months.
Branch transformed the purchasing process by needing just a consumer's name and address to get an instant estimate for combined home and vehicle insurance. The National Association of Realtors reports that more than 10% of existing home sales in the last three years were condos. By offering a condo product, Branch can provide quick bundling to millions of more homeowners.
Branch co-founder and CEO, Steve Lekas, said, "Bundling has always been at the core of what Branch can do, so we're thrilled to offer another product to help consumers quickly and easily bundle their insurance." He added, "By enabling more people to access Branch's bundle, and the deep savings that come with it, we're taking meaningful steps towards our mission of getting more people insured."
(Source – PR Newswire)
Including a condo product adds tremendous value to Branch's rapidly expanding independent agency channel, allowing Branch-appointed agents to meet their customers' insurance requirements better. Moreover, by increasing its product offerings, Branch provides its partners with a seamless, integrated experience. On the Branch website, consumers can rapidly acquire condo insurance with only a few pieces of information and bundle it with vehicle insurance.
Branch®, is a company that provides home and car insurance that is easy to purchase and designed to save money. Through its groundbreaking instant-bind capabilities, Branch eliminates all of the hassle involved with obtaining coverage, making it simple for clients to combine home and vehicle insurance. The Branch Insurance Exchange was designed as a reciprocal exchange to make insurance more accessible and inexpensive for everybody. Branch is a public benefit corporation and a certified B corporation dedicated to achieving the highest levels of social and environmental performance and responsibility.