ISU Centinel Agency Acquired By Heffernan Insurance Brokers

Cision PR Newswire | September 07, 2020

Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States, has acquired ISU Centinel Agency. The firm purchased the assets of the San Francisco-based ISU Centinel Agency to join Heffernan's retail operations, effective September 1, 2020. Josh Ferenc, Senior Vice President, David Costello, Vice President, and the remainder of the Centinel team have joined Heffernan's San Francisco branch. With over 15 years' experience in the insurance industry, ISU Centinel Agency specializes in insurance for the construction and hospitality industries, as well as private client personal insurance. Their extensive knowledge will be a pronounced enhancement to Heffernan's niche practices.

Spotlight

Term life insurance vs permanent state farm. To borrow against the savings portion of a permanent life insurance policy, there is usually waiting period after purchase your policy for sufficient cash provides lifelong protection, and ability to accumulate value on a tax-deferred basis. Unlike term insurance, a permanent insurance policy will remain in force for as long you continue to pay your premiums 30 jun 2016 get life details of whole and endowment etc, also know about limited.

Spotlight

Term life insurance vs permanent state farm. To borrow against the savings portion of a permanent life insurance policy, there is usually waiting period after purchase your policy for sufficient cash provides lifelong protection, and ability to accumulate value on a tax-deferred basis. Unlike term insurance, a permanent insurance policy will remain in force for as long you continue to pay your premiums 30 jun 2016 get life details of whole and endowment etc, also know about limited.

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CORE INSURANCE

Sensa Launches the First Proactive, Life-Saving Insurance in the U.S.

Sensa | February 09, 2022

Sensa, the first proactive insurance company, launched its auto insurance offering in the U.S., including real-time help with every policy. Powered by parent company MDgo's technology, Sensa's smart sensor automatically detects an accident and precisely analyzes damages and injuries, ensuring the right assistance is dispatched quickly to the scene. The launch comes as U.S. car fatalities are on the rise, with the lack of real-time assistance contributing to 44% of avoidable deaths. Sensa's U.S. launch kicks off in Illinois, with Texas, Indiana, and Ohio scheduled for the coming weeks and a rapid rollout coming to the rest of the country soon. Sensa will be introducing additional proactive insurance offerings, with home insurance scheduled to launch later this year. Itay Bengad, MD, Sensa CEO and Cofounder, applies the medical 'Point of Care' doctrine to insurance, bringing "bedside" care to "roadside" (or "carside") assistance and treatment. "Every minute counts and every diagnostic detail makes a difference at the scene of a crash, After even a minor accident, people are at their most vulnerable and should never feel alone. Launching Sensa in the U.S. ensures our policyholders are professionally supported in their time of greatest need. True disruption of the insurance industry requires an insurance offering that goes the extra mile for policyholders and addresses the pain points of insurers, The scene of an accident is the only time when the interests of both policyholders and insurance companies are completely aligned. The policyholder wants to resolve the situation with the least amount of hassle, and the insurer wants the situation resolved according to its preferred distributors. With the knowledge and power to make a difference, insurers can provide policyholders with medical and logistical help – and reduce claim severity." -Itay Bengad, MD, Sensa CEO and Cofounder Sensa shifts the 'moment of truth' for insurance companies from the First Notice of Loss to the loss event itself. Personalized, professional help at the moment of truth provides an added value to policyholders and real-time situational awareness empowers Sensa to mitigate damages and injuries at the scene of an accident. The Sensa sensor, activated only when the force of impact indicates a collision, guarantees the privacy of all policyholders with no ongoing data collection or monitoring. Combined with frictionless installation in seconds and 24/7 support, the sensor's adoption rate far surpasses industry averages, standing at over 90%. Sensa's technology was successfully beta tested in Europe and reached over 35,000 satisfied policyholders in the last year alone. Throughout this period, 94% of loss events were proactively managed within the first few minutes of a loss event. MDgo's technology and Sensa's insurtech offering are backed by funding from investors including Bessemer Venture Partners, Target Global, Volvo, Hyundai Motors, and Nationwide. About Sensa Sensa is the first proactive insurance company, guaranteeing premium emergency services to all its policyholders. Sensa provides proactive, real-time professional support 24/7 at the scene of a loss event, at no extra cost. Powered by its innovative sensor, Sensa automatically detects an incident and precisely analyzes damages and injuries, ensuring the best medical and logistical support at the moment of truth. Founded by Itay Bengad, MD, and engineers Gilad Avrashi and Eli Zerah, Sensa is backed by investors including Bessemer Venture Partners, Target Global, Volvo, Hyundai Motors, and Nationwide. Sensa is headquartered in Austin, Texas with an R&D center in Tel Aviv.

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CLAIMS

EXL Partners with Benekiva, to Enhance Digital Claims Capabilities of EXL’s LifePRO® Policy Administration Platform

EXL, Benekiva | February 17, 2021

EXL, a main operations management and analytics organization, today declared an association with Benekiva, a software startup zeroed in on giving seamless technology solutions to financial services, to upgrade the digital claims capabilities of EXL's LifePRO® policy administration platform. The association will join the start to finish policy management capabilities of LifePRO® with Benekiva's digital claims solutions, which incorporate work processes, record digitization, and claims admission to give a more powerful, effective claims insight for the two clients and representatives. Homesteaders Life Company, a public chief in preneed protection subsidizing and LifePRO® customer, has just started seeing advantages from the EXL and Benekiva partnership . “We’ve seen the combination of Benekiva and LifePRO® transforming customer experience and enhancing customer journeys,” stated Nick Gerhart, Executive Vice President and Chief Innovation Officer, Homesteaders Life Company. “It’s also enhanced our resilience. When we shifted to remote work during the pandemic, our employees were able to seamlessly continue to pay claims and keep functioning.” “We are excited to augment our digital claims management capabilities through this partnership with Benekiva,” said Keith Johnson, Senior Vice President and head of digital insurance solutions and LifePRO®, EXL. “A major component of our success in the policy administration space stems from the way we ensure fast, accurate resolution for customers’ claims. Benekiva will help us amplify the customer and beneficiary experience within our digital claims solutions.” Said Brent Williams, CEO, and President, Benekiva, “EXL is a global leader in insurance across operations, analytics, and technology with a two-decade track record of innovation in areas of policy administration and claims, through their LifePRO® platform. We are excited to partner with EXL to bring a more digitized and seamless claims experience to the insurance market. We look forward to bringing the same great benefits Homesteaders Life Company has experienced from this partnership to other LifePRO® clients.” EXL's LifePRO® offers adaptable help for an expansive scope of life, wellbeing, and annuity items. With an adaptable help based design highlighting a library of more than 250 REST and ACORD digital services and minimized single-reason services for regions including policy servicing, party upkeep, specialist and chain of importance management, and item arrangement, the platform furnishes back up plans with security, versatility, and configurability. An electronic UI gives a 360-degree perspective on clients and specialists and is planned considering ADA consistence. EXL is ceaselessly putting resources into and improving LifePRO®, with the platform now on its twentieth rendition. About Homesteaders Life Company Homesteaders Life Company is a national leader providing products and services to promote and support advanced funding of funeral planning and end-of-life expenses. About Benekiva Benekiva, LLC, was founded in 2018 to offer smart, elegant, and powerful technology solutions to insurance providers. It has since developed a comprehensive digital claims and customer service platform to service all of the document management, compliance, workflows, adjudication, and claims issues related to the insurance industry. The company is headquartered in West Des Moines, Iowa, with a satellite division in Winston-Salem, North Carolina. About EXL EXL is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics, and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has more than 31,000 professionals in locations throughout the United States, the UK, Europe, India, the Philippines, Colombia, Australia, and South Africa. EXL serves multiple industries, including insurance, healthcare, banking, and financial services, utilities, travel, transportation and logistics, media, and retail, among others.

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INSURANCE TECHNOLOGY

Bindable Unveils its New Digital Solution - The Agent Wholesale Platform for Insurance Industry

Bindable | November 19, 2020

Bindable, the insurance technology pioneer for elective dissemination, today declared the dispatch of its Agent Wholesale Platform, an advanced software solution that empowers autonomous agents to dispatch their own virtual offices and to flawlessly access and sell insurance items on the web, via telephone, or face to face. The Agent Wholesale Platform is a white name insurance marketplace that permits agents and transporters to offer auxiliary items, for example, pet, lawful, and home guarantee through a virtual organization without disturbing their present auto and home stream. Locales can be custom marked and incorporate a changed rendition of Policy Crusher®, Bindable's restrictive SaaS platform and CRM. Utilization of the Agent Wholesale Platform will bring about higher commissions and improved strategically pitching capacities for agents, just as better help for their clients. Strategically pitching auxiliary items is significant for agents since it assists with forestalling center auto and home clients from buying these items somewhere else and possibly exchanging over their auto and home insurance also. “Our focus has always been to continuously drive innovation in the insurtech industry. We’re proud to have created digital tools so that agents and their carrier partners can achieve more growth and better customer retention through product diversification,” says Bill Suneson, CEO and co-founder of Bindable. “With a virtual agency, they can do just that, and initiate more efficient transactions with consumers online or over the phone.” Coronavirus has quickened digitization, expecting agents to turn out to be more tech forward in their strategic approaches. As the quantity of purchasers finishing exchanges online versus in-person keeps on climbing, the desire for advanced admittance to insurance contributions has just expanded. Examination from Bindable shows that 93% of free agents were in understanding that with regards to buying insurance items, client desires are evolving. Furthermore, 76% announced that client desires around cycles, for example, cases and installments being robotized has expanded, flagging a more prominent longing for computerized exchanges. Bindable's Agent Wholesale Platform is right now accessible in every one of the 50 states. About Bindable Bindable is the insurance technology leader for alternative distribution. Its proprietary platform brings together software, a digital wholesale marketplace, and a full suite of support services to offer flexible, market-ready solutions that connect insurance providers, trusted brands, and consumers. The company is headquartered in Boston, Massachusetts.

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