Insurance Technology
PR Newswire | January 29, 2024
AgentSync today announced the launch of its first commercially available ProducerSync API for carriers, MGAs, and agencies to manage producer and adjuster licensing and appointment validation without the paperwork.
The ProducerSync application programming interface (API) acts as a menu, allowing insurance businesses to draw from a selection of National Insurance Producer Registry (NIPR) data on licensing, appointing, and personal information for producers. AgentSync humanizes and contextualizes the data so end users have actionable information from the industry source of truth without hours of manual research.
"ProducerSync API represents a key step in our long-term strategic vision. By streaming accurate and comprehensive data to our customers' existing systems, ProducerSync API drives better business decisions," said Jenn Knight, Co-Founder and CTO of AgentSync. "We're focused on building modern technology that unlocks value for our customers, and highly flexible and adaptable products like ProducerSync API do exactly that by leveraging current data for better all-around business outcomes."
The ProducerSync API uses REST API architecture, making it lightweight, scalable, and flexible, and is the first of AgentSync's planned suite of APIs to be available to the wider insurance market. It joins a family of modern business solutions the company uses to connect the industry.
"Our first product, Manage, has had strong customer adoption by delivering superior business data with a modern user interface and comprehensive features for compliance and producer management," said Knight. "ProducerSync API builds on this vision, giving customers programmatic access to NIPR data elements in a way that is highly modular and reusable for a variety of use cases."
Insurance runs on data, but maintaining the accuracy and quality of producer data across ecosystems is, historically, a challenge for all stripes of insurance organizations. With ProducerSync API, users can have confidence in their data while reducing maintenance, driving down business risks, enabling better-informed decisions, and eliminating inefficiencies with a scaled, secure solution.
About AgentSync
AgentSync builds modern insurance infrastructure that connects carriers, agencies, MGAs, and producers. With customer-centric design, seamless APIs, automation, and unparalleled service, AgentSync's solutions provide data intelligence and streamlined onboarding and compliance management processes that reduce costs, increase efficiency, and get producers ready to sell in hours instead of weeks. Founded in 2018 by Niranjan "Niji" Sabharwal and Jenn Knight, and headquartered in Denver, CO, AgentSync has been recognized as one of Denver's Best Places to Work, a Forbes Magazine Cloud 100 Rising Star, and as an Insurtech Insights Future 50 winner, and was ranked 65 in Forbes – America's Best Startup Employers 2023.
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Annuities
PR Newswire | January 10, 2024
New York Life Investment Management ("NYLIM") today announced a strategic partnership with Bow River Advisers, a subsidiary of Bow River Capital. The partnership combines NYLIM's distribution and client service strengths, with Bow River Advisers' expertise in private markets investing and portfolio management. With this new agreement, NYLIM will take a minority interest in Bow River Advisers and serve as distribution partner for the Bow River Capital Evergreen Fund ("EVERX" or "the Fund"), a fund that provides access to a diversified portfolio of private equity investments.
"New York Life Investment Management has been committed to providing quality alternative investment solutions to our clients for more than two decades," said New York Life Investment Management Chief Operating Officer Kirk Lehneis. "This partnership with Bow River Advisers, an innovator in providing high-quality private equity exposure in an investor-friendly structure, will allow us to provide a more differentiated product offering to our clients, while providing additional support to the Fund's existing client base."
The Bow River Capital Evergreen Fund was launched in May 2020, and provides access to a broad range of private equity investments across sector, sponsor, geography and size. The Fund's combination of immediate investment exposure, broad diversification and low investment minimums ($50,000 for accredited investors) has attracted interest from a wide range of investors, particularly those interested in diversifying their traditional stock and bond portfolios.
"We built the Bow River Capital Evergreen Fund to provide investors with what we believe is an easily accessible private equity portfolio," said Jeremy Held, Managing Director, Bow River Advisers and President of the Evergreen Fund. "Our partnership with New York Life Investment Management provides significant resources that will allow us to broaden the Fund's investor base while remaining focused on portfolio management and the Fund's day-to-day operations. As one of the largest and most well-respected institutional investors in the world, New York Life Investment Management will bring expertise that can enhance the reach of the Fund going forward."
NYLIM will provide distribution and marketing support to the Fund, and Bow River Capital Evergreen's investment strategy, team and day-to-day operations will remain unchanged.
About New York Life Investments
With over $687 billion in Assets Under Management as of September 30, 2023, New York Life Investments, Pensions and Investments' 25th Largest Money Manager, is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company, and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships.
"New York Life Investments" is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.
About Bow River Capital
Bow River Capital is a private alternative asset manager based in Denver, Colorado, focused on investing in the lower and middle market in four asset classes: private credit, private equity, real estate, and software growth equity. Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers a registered interval fund – Bow River Capital Evergreen Fund (EVERX) – designed to provide private market access to a broader set of investors.
Collectively, the Bow River Capital team has deployed capital into diverse industries, asset classes and across the capital structure.
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Risk Management
PR Newswire | January 10, 2024
Specialty Program Group LLC (SPG), a leading operator of specialty insurance brokerage, underwriting and consulting facilities, announced today the acquisition of the assets of Disaster Recovery Services, LLC and its affiliate, Disaster Recovery & Risk Solutions, LLC (collectively, DRS), a premier provider of disaster preparation, response, and recovery consulting for commercial and public entities. Established with a commitment to aid organizations in their times of need, DRS brings to the table extensive experience in disaster preparedness planning and mitigation, real-time response coordination, forensic accounting and financial recovery services, particularly in responding to adverse events such as fires, floods, and hurricanes. DRS rounds out this comprehensive support with construction project management, grant administration, and procurement consulting.
"Partnering with DRS aligns perfectly with our mission to offer innovative and comprehensive solutions to our clients," said SPG President & CEO, Christopher Treanor. "DRS's expertise in disaster recovery not only complements our existing services but also strengthens our commitment to providing unparalleled support in times of crisis."
With its expertise in handling complex scenarios, DRS has established itself as a trusted partner in providing turnkey solutions throughout the recovery process, whether it involves commercial insurance recovery, FEMA reimbursement, construction project management, grant administration, procurement support, or mitigation and resiliency.
"Joining forces with SPG opens new avenues for growth and allows us to leverage their extensive network and resources," said DRS CEO, John Albrecht.
This acquisition aligns with SPG's strategic goal to diversify and strengthen its portfolio, extending its reach into the critical areas of disaster preparedness, mitigation, response, and recovery. The enhanced capabilities brought by DRS will help ensure SPG continues to meet the evolving needs of its clients and partners in an increasingly complex risk environment.
About Specialty Program Group
Specialty Program Group LLC (SPG) is a leading specialty platform headquartered in Chicago, IL, with a diverse portfolio of specialty insurance operations spanning underwriting management, digital solutions, wholesale and specialty retail brokerage, and insurance services. SPG has a track record of scaling industry leading businesses by providing access to business resources, technology and process efficiency, capital and investment, deep carrier relationships, and a broad distribution network.
About Disaster Recovery Services
Disaster Recovery Services, together with its affiliate, Disaster Recovery & Risk Solutions, LLC, collectively (DRS), is a leading provider of disaster response and recovery solutions, specializing in helping organizations prepare for and navigate the aftermath of disasters like fires, floods, and hurricanes. They offer a range of services including customized disaster preparedness planning and mitigation, real-time coordination during crises, and post-loss insurance and FEMA recovery guidance. DRS is committed to partnering with clients for effective recovery, helping to ensure organizations are well-prepared and resilient in the face of unforeseen disasters.
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