CORE INSURANCE
Allianz Global Corporate & Specialty | July 15, 2022
Allianz is aiming to substantially expand its business from customers in the global insurance program sector to serve the increasing demand from large and medium-size companies needing cross-border coverage. Its international corporate insurance carrier, Allianz Global Corporate & Specialty (AGCS), is strengthening its capabilities, including a new market-facing team as well as dedicated investments in data and technology, and will expand its customer services.
To support its Multinational customers, AGCS has moved the Management Board responsibility to the ‘Regions and Markets’ area led by Henning Haagen, who oversees market-facing activities including distribution. The new AGCS Multinational set-up also includes a strengthened global leadership team and enhanced regional responsibilities. Guy Money, currently Global Head of Product at AGCS, has been appointed Global Head of Multinational Business.
The well-established AGCS Captive Solutions team, led by Brian McNamara, will be integrated into the Multinational business to serve customers with a broad range of services from traditional, multi-line global programs to captive fronting and reinsurance as well as hybrid combinations of traditional and alternative risk transfer.
“With our new strategy and set-up, integrated with the network strength of Allianz Group, we are well positioned to capture new business in this sophisticated segment of corporate insurance. This ambition is very much in line with our overall market leadership aspiration,” says AGCS Chief Executive Officer Joachim Mueller.
“With our new strategy and set-up, integrated with the network strength of Allianz Group, we are well positioned to capture new business in this sophisticated segment of corporate insurance. This ambition is very much in line with our overall market leadership aspiration,” says AGCS Chief Executive Officer Joachim Mueller.
New AGCS Multinational team
Further key leadership appointments in the new AGCS Multinational team include Jayesh Patel who is leading the Multinational Market Practice Team. He and his regional representatives will work closely together with AGCS’ global and regional distribution teams to drive business development in target markets. Karol Dobias remains in charge of the Business Excellence unit responsible for global standards, performance tracking and steering. The Network Management Team is overseen by Melanie Windirsch, who is responsible to deliver local services across all network countries. Nigel Leppitt will oversee the Multinational transformation program.
About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across nine dedicated lines of business and six regional hubs.
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses. Among them are not only the world’s largest consumer brands, financial institutions, tech companies and the global aviation and shipping industry, but also satellite operators or Hollywood film productions. They all look to AGCS for smart solutions and global programs to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.
Worldwide, AGCS operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,250 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2021, AGCS generated a total of €9.5 billion gross premium globally.
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CORE INSURANCE
World Insurance Associates LLC | August 30, 2022
World Insurance Associates LLC (WIA), a Top 50 Insurance Brokerage, announced today that it acquired The Woody Insurance Group (Woody Insurance) of Prairie Village, KS on August 1, 2022. Terms of the transaction were not disclosed.
The Woody Insurance Group has been providing insurance to individuals and businesses in the Kansas and Missouri communities for over 20 years. They also have a focus on the construction industry.
“Our top goal is to make the insurance-buying process easy and thorough for our customers, We provide highly customized solutions to any business or personal need and look forward to continuing this approach as part of World.”
-Chris Woody, President, The Woody Insurance Group
I’m pleased to welcome Woody Insurance to the World family, They are well known for their unparalleled customer service and will be a nice fit within the World company,says Rich Eknoian, CEO and Co-Founder of WIA.
Giordano, Halleran & Ciesla provided legal counsel to WIA. Myers Longhofer LLC provided legal counsel to The Woody Insurance Group. No other advisors, diligence firms or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed 155 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #2 on the Fastest Growing Brokers list by Business Insurance and is a Top-50 ranked personal lines agency by Insurance Journal.
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INSURANCE TECHNOLOGY
First American | August 29, 2022
First American Title Insurance Company, a leading provider of title insurance and settlement services and the largest subsidiary of First American Financial Corporation, today announced the launch of its PRISM™ digital platform, which combines automation and marketing tools, allowing First American policy-issuing title agents to offer valuable products and services directly to their customers via any computer or mobile device at any time. In a transitioning market, title agents are looking for easy-to-implement, cost-effective digital platforms and tools that increase efficiency, strengthen customer engagement and enhance the real estate transaction experience.
“Our PRISM platform is another example of First American’s leadership of the digital transformation of title and settlement, By leveraging innovative digital technology and the company’s industry-leading public records data, the PRISM platform delivers a more efficient, more convenient real estate transaction experience for our title agents and the lenders, real estate agents, buyers and sellers they serve.”
-Kevin Wall, president of First American Title’s Agent and Lender Group
The PRISM platform automates the personalized quote delivery and title ordering process, eliminating the need for lenders or real estate agents to call their title agent for a quote for title and settlement fees or to order title, which helps accelerate the transaction and strengthen relationships with the parties involved. Through the PRISM platform, real estate agents can access co-branded or white-labelled seller net sheets, buyer estimates, refinance quotes, marketing materials, and property reports, where permitted, that highlight the title agent’s role, helping both the real estate agent and title agent establish relationships with home buyers and sellers earlier in the real estate transaction and, ultimately, helping the title agent secure more title orders.
PRISM provides a branded digital platform that helps engage and support my lender and real estate agent customers as well as home buyers and sellers, My customers can easily order and edit fee quotes on the fly 24/7, helping my people spend more time on the closings they have in their queue,Chris Medina, director of sales at Navi Title Agency.
The PRISM platform also connects title agents to the following services available only from First American Title:
Customizable marketing materials through Agent Print Pro
Property data, including transaction history and current owner information
Policy rates and endorsement fees, local recording fees, and transfer taxes through First American’s Comprehensive Calculator.
The PRISM platform will include a number of integrations with third-party services to further enhance the efficiency and convenience of the settlement process for First American policy-issuing title agents and their customers.
About First American Title Insurance Company
First American Title Insurance Company, the largest subsidiary of First American Financial Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operations and an extensive network of agents throughout the United States and abroad. First American Title provides comprehensive title insurance coverage and professional services for real estate purchases, construction, refinances and equity loans.
About First American
First American Financial Corporation is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $9.2 billion in 2021, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2022, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the seventh consecutive year.
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