Japan Post Insurance freezes policy sales

Insurance Business Magazine | July 15, 2019

Policies by Japan Post Insurance and sold through its sister company Japan Post Co. have been put on hold until August 31 following widespread allegations of improper business practices at the formerly government-owned postal and insurance firm. The group halted sales following its top executives’ admissions that there were irregularities in how it sold life, education, and post-retirement insurance products over the past few years, affecting over 90,000 customers. Customers had reported double charging of premiums as well as not having received coverage, despite having paid the premiums.

Spotlight

What will the insurance industry look like in 2 years, 5 years, or even 10 years? In this clip of the 8% Nation Podcast, Brandon Clay explains where he thinks the insurance industry is headed and how NOT TO BE a "dinosaur" in this industry. He also talks about the importance of networking events & conferences, why he enjoys helping agent, and gives us a sneak peek of his latest book!

Spotlight

What will the insurance industry look like in 2 years, 5 years, or even 10 years? In this clip of the 8% Nation Podcast, Brandon Clay explains where he thinks the insurance industry is headed and how NOT TO BE a "dinosaur" in this industry. He also talks about the importance of networking events & conferences, why he enjoys helping agent, and gives us a sneak peek of his latest book!

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OpenSpace Collaborates with Shepherd to Provide Qualified Construction Customers with Lower Insurance Premiums

OpenSpace | June 23, 2022

OpenSpace, the global leader in 360° Jobsite capture and AI-powered analytics, announced a new collaboration with Shepherd, a commercial insurance provider for the construction industry, today. Based on their usage, OpenSpace customers will have access to the Casualty Pro excess liability insurance offering, which provides qualified contractors with underwriting credits and improved coverage on their Shepherd insurance policies. In addition, the simple-to-use Capture product from OpenSpace thoroughly documents the site, assisting in resolving disputes and speeding up claims processes. As a result, customers who use OpenSpace typically have a lower risk profile due to their ability to detect potential safety issues and costly errors before they occur. We view the application of jobsite capture as one of the most exciting frontiers in construction risk management, and OpenSpace is the clear category leader, Our partnership allows customers to benefit from their OpenSpace usage by introducing data from the platform as a new category in our underwriting approach. Our fundamental belief is that contractors who leverage technology to be safer deserve to be rewarded by their insurance providers." Shepherd's CEO and co-founder Justin Levine. Builders use OpenSpace Capture to attach a consumer 360° camera to their hardhat and walk around the site as they usually would. Once the video from the walk is uploaded to the cloud, OpenSpace's computer vision technology stitches the images together and pins them to the floor plan, resulting in a reliable visual record of site status. The site's image map, powered by the company's Vision Engine, is typically ready to view about 15 minutes after upload. Better site documentation fosters stronger stakeholder collaboration, reduces the need for project managers to travel to the site, provides a historical record of progress, and can lower insurance premiums.

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Hub International Acquires CAPAX Management and Insurance Services

Hub International, CAPAX Management and Insurance Services | January 11, 2021

Hub International Limited (Hub), a leading full-service global insurance broker, reported today that it has acquired CAPAX Management and Insurance Services, Inc. (CAPAX). Terms of the exchange were not revealed. Situated in Modesto, California, CAPAX is one of the biggest privately claimed insurance brokerage and representative advantages counseling associations situated in Central California. CAPAX gives multi-line insurance solutions, including personal and commercial, worker benefits items and risk management solutions for their customers. CAPAX's ability in carrying hostage solutions to their customers and their attention on different ventures, for example, agribusiness (crop), supplements and fortifies Hub's current capacities. "CAPAX is a great addition to the Hub family as we continue our growth strategy in the region by adding specialized capabilities that will expand the depth of our insurance and risk management solutions," said Michael Der Manouel, Executive Vice President of Hub California Central Valley. "We look forward to joining Hub – a leading brokerage firm with strong values and an utmost commitment to clients," said Mr. Geddes. "With Hub, we will be well-positioned to provide a full suite of services to fit our clients' growing needs." About Hub's M&A Activities Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 12,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information.

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Farmers Insurance Supports Customers Survived Tornadoes in the Southern States

Farmers Insurance | March 25, 2022

Farmers Insurance® has come forward support customers who have been affected by severe storms, tornadoes, and heavy rainfall in Texas and other portions of the Southern United States. With the help of farmers insurance, customers can file a couple of claims, including Visit Farmers.com or Foremost.com Call their agent Use the Farmers® Mobile App through their smartphone or tablet Text REPORTCLAIM to 29141 Customers who have sustained the damage can even take action as follows: Call the 24-hour claims center: Farmers Claims Contact number: 1-800-435-7764 Foremost® customers can also use the 1-800-435-7764 number for assistance Bristol West® customers can call 1-800-274-7865 for support Spanish-language claims assistance is accessible to Farmers customers by calling 1-877-RECLAMO (877-732-5266). Farmers Insurance offers numerous remote and virtual solutions to make the claims process more accessible for customers. Customers who file a claim can work directly with trained claims professionals. The professionals would guide them through the claims process, and customers can get their claims approved accordingly. Farmers Insurance is a group of insurers providers. They offer insurance options for homes and small businesses, automobiles, and many other insurance and financial services products.

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