CORE INSURANCE,LIFE INSURANCE
Quility and Life Happens | August 24, 2022
Quility, an award-winning insurtech company, has partnered with Life Happens, a non-profit dedicated to educating consumers on the importance of life insurance. This collaboration marks Quility's inaugural college scholarship.
Since 2005, Life Happens has provided financial support to college-bound seniors and college students who have experienced the death of a parent or guardian with little to no life insurance. To date, they've awarded more than $2.5M among 750+ students. Quility is thrilled to collaborate with Life Happens and to announce MaKayla Cook as the recipient of the 2022 Quility Life Lessons Scholarship.
"These days, receiving a college education is a huge financial burden for many families, I cannot begin to imagine the added financial hardship of losing a parent, with little to no life insurance, while simultaneously navigating the cost of higher education. The Life Happens Scholarship Program offers both an incredible way to support students who have suffered loss, and an opportunity to remind everyone about the importance of life insurance. The student Quility selected has shown grace and perseverance that is, and will continue to be, a wonderful lesson in life for us all. We are truly grateful to Life Happens for creating such an impactful program and we look forward to supporting many more students in the years to come."
-Whit Zeh, Quility's Senior Director of Corporate Well Being and Community Outreach
About MaKayla:
Makayla's mother passed away unexpectedly on August 5, 2021. Just two weeks before her passing, her mother lost her job and all employer-provided benefits, including life insurance. MaKayla paid for her mother's funeral with money she had saved throughout high school and friends and family pulled resources to help with other immediate expenses.
MaKayla's resilient spirit and determination have carried her through grief and the collective stress brought forth by the pandemic. Today, she is working 40 hours per week in addition to her coursework at Appalachian State University. When she graduates, MaKayla will be the first in her family to achieve a college degree.
As a corporate sponsor, Quility will financially support MaKayla for one full academic year. The company plans on sponsoring additional students in the coming years and is encouraging its large network of agents to do the same.
You can learn more about applying for a scholarship, making a donation, or becoming a corporate sponsor by visiting the Life Lessons Scholarship Program.
You can also explore the many ways Quility serves its communities through sustainable engagement by reviewing Quility's Impact.
About Quility:
Quility uses innovative and proprietary technology to modernize the process of qualifying for and purchasing life insurance. The Quility digital platform offers clients the option to apply for life insurance online through a ten-minute application or with the support of a licensed insurance agent.
About Life Happens:
Life Happens is a nonprofit organization dedicated to helping consumers take personal financial responsibility through the ownership of life insurance and related products. The organization does not endorse any product, company or insurance advisor. Since its inception in 1994, Life Happens has provided the highest quality, independent and objective information for people seeking help with their insurance buying decisions.
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AUTOMOBILE INSURANCE
Lemonade, Metromile | August 01, 2022
Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today announced the closing of the acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million LMND shares, while Lemonade received a business with over $155m in cash, over $110m in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in harnessing precision data for auto insurance.
“We launched Lemonade Car a few months ago, and believe it’s the most delightful product on the market. We also believe auto insurance is challenging for newcomers and disadvantaged by a lack of data which is why we bought Metromile,” said Shai Wininger, Lemonade co-CEO and cofounder.
“We launched Lemonade Car a few months ago, and believe it’s the most delightful product on the market. We also believe auto insurance is challenging for newcomers and disadvantaged by a lack of data which is why we bought Metromile,” said Shai Wininger, Lemonade co-CEO and cofounder. “For ten years, Metromile’s intricate sensors monitored billions of miles of driving, while their AI cross-referenced this data with hundreds of thousands of claims, to accurately score each tap of the brake and turn of the wheel. We believe that adding these models into the Lemonade Car platform will make the most delightful car insurance also the most competitive, precise, and fair. That’s why we’re so excited to welcome Metromile into the Lemonade family.”
Most Metromile employees will transition to roles at Lemonade, and Metromile CEO, Dan Preston, has assumed the role of Senior Vice President of Strategic Initiatives.
“It’s hard to imagine a better home for Metromile than Lemonade. While Metromile was at the forefront of using big data and AI in car insurance, Lemonade forged a parallel path for several complementary lines of insurance. That makes for a powerful combination,” said Dan Preston, SVP Strategic Initiatives, Lemonade. “The upshot is that Metromile’s mission to connect the world to personalized insurance receives a big boost today. While the Metromile brand will sunset over time, its promise to consumers will be realized bigger, better, and sooner now that we’ve joined forces.”
The Metromile app and brand will continue in-market until all customers can be seamlessly transitioned to the Lemonade app and brand. Metromile common stock will cease trading on NASDAQ today.
About Lemonade
Lemonade offers renters, homeowners, car, pet, and life insurance. Powered by artificial intelligence and social impact, Lemonade’s full stack insurance carriers in the US and the EU replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives unused premiums to nonprofits selected by its community, during its annual Giveback. Lemonade is currently available in the United States, Germany, the Netherlands, and France, and continues to expand globally.
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RISK MANAGEMENT
Buckle and Origami Risk | September 08, 2022
Buckle, the financial services company providing auto insurance solutions for the gig economy, has selected Origami Risk’s multi-tenant SaaS P/C platform to support policy administration, billing, and advanced analytics for its auto insurance programs.
In addition to providing technology-based tools and functionality, Origami’s platform will enable Buckle to deliver more robust services with greater speed to its rapidly expanding and specialized customers, partners, and members throughout the United States.
"Our members and partners expect and deserve new and innovative products, so we continually enhance our technology to support their needs. This platform offers a scalable solution for our ambitious growth and continued momentum,”
- Adam Landau, chief information officer of Buckle
Our policy administration, billing and risk management resources are ideally suited to meet the needs of Buckle as it continues to grow its dynamic and innovative business, These capabilities are among several innovative solution sets we’ve developed to help carriers, pools, program administrators and other insurance providers drive efficiencies across critical functions, meet customer needs, and improve overall performance,said Christopher Bennett, president, Core Solutions division, Origami Risk.
Origami Risk offers a full suite of end-to-end, integrated SaaS solutions for policy, rating, billing, loss control and claims administration, reporting and analytics, along with a comprehensive digital engagement experience for all internal and external stakeholders.
About Buckle
Buckle is the digital financial services company providing insurance for the gig industry. Serving the vital, rising middle class, Buckle protects drivers across personal, rideshare, and delivery driving for leading companies including Uber, Lyft, DoorDash, Gopuff, Instacart, Amazon Flex, Uber Eats, Grubhub, Favor, Shipt, and more. The company also offers insurance solutions for select partners. Buckle has received awards for 2022 including Best of Insurance, Best Rideshare & Delivery Driver Insurance Specialists, a Fastest Growing Company, Most Innovative Rideshare Auto Insurance Product Provider, Best Tech Startup, an InsurTech 50, and more.
About Origami Risk – Core Solutions Division
Origami Risk provides integrated SaaS solutions that simplify insurance, risk, and safety for insurers, managing general agents (MGAs), program administrators, third party claims administrators (TPAs), risk pools, brokers and more. Origami Risk delivers its highly configurable and completely scalable integrated insurance core system, risk management and safety solutions from a secure, multi-tenant platform accessible via web browser and mobile app.
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