KPMG teams with Majesco to leverage Digital1st® Insurance platform to enable digital strategies

Business Wire | September 10, 2020

KPMG teams with Majesco to leverage Digital1st® Insurance platform to enable digital strategies
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, and KPMG LLP, the audit, tax and advisory firm, are working together to accelerate insurance digital transformation using Majesco Digital1st® Insurance platform. Digital1st® is the insurance industry’s leading cloud-native, microservices-based digital experience platform with a low code / no code configurability and a robust API and partner ecosystem apps. Combined with Majesco’s industry leading CloudInsurer®, core insurance platform, provides insurers with an unparalleled end-to-end capability enabling insurers to become more connected with their clients, agents and brokers.

Spotlight

The insurance industry – from product development to underwriting to claims – is being fundamentally transformed by AI technologies. Although some companies are investing aggressively in AI to slash costs while also enhancing the customer experience, most insurers will need to accelerate their efforts or risk discovering that it has become too late to catch up.

Spotlight

The insurance industry – from product development to underwriting to claims – is being fundamentally transformed by AI technologies. Although some companies are investing aggressively in AI to slash costs while also enhancing the customer experience, most insurers will need to accelerate their efforts or risk discovering that it has become too late to catch up.

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LIFE INSURANCE

MassMutual Accquires the Great American Life Insurance Company

American Financial Group, Inc. MassMutual | May 31, 2021

Massachusetts Mutual life insurance Company announced today the completion of the previously announced acquisition of American Financial Group, Inc.’s wholly-owned subsidiary, Great American life insurance company, and other subsidiaries and affiliated entities, for a purchase price of approximately $3.5 billion. “We are excited to welcome Great American Life to MassMutual and to assist build on its outstanding leadership position in the annuity market,” said Roger Crandall, Chairman, President, and CEO, MassMutual. “This acquisition immediately broadens our product offerings, further diversifies our distribution capabilities and generates additional earnings – enabling us to assist even more people in securing their future and protecting the ones they love.” The acquisition includes Great American Life and its two insurance subsidiaries, Annuity Investors life insurance Company and Manhattan National life insurance Company, as well as a broker-dealer affiliate, Great American Advisors, Inc., an insurance distributor, AAG Insurance Agency, Inc. With the completion of this acquisition, MassMutual, is among the top five individual annuity writers in the U.S.1. Great American Life will operate as an independent subsidiary of MassMutual led by its current president, Mark Muething, who will report to Mike Fanning, head of MassMutual U.S. Its more than 600 employees will continue to support the business and remain headquartered in Cincinnati. “Today marks a new beginning for great American Life as we join MassMutual to make an even greater impact serving the millions of Americans who need our help in building financial security,” said Mark Muething, President and Chief Operating Officer of Great American Life. “This transaction strengthens our position as a leading U.S. annuity company, enhances our ability to deliver compelling solutions for our policyholders and distribution partners, and positions us for future growth with a company that’s committed to our success.” Fanning, who will oversee the great American Life business, added, “Our goal is to ensure a seamless transition for great American Life’s employees, clients, and partners. we look forward to working together with Great American Life to reach more customers in need of lifetime income solutions and deliver ongoing value to our policy owners and customers.” Debevoise & Plimpton LLP served as legal counsel to MassMutual. Skadden, Arps, Slate, Meagher & Flom LLP, and Keating Muething & Klekamp PLL served as legal counsel to AFG. About MassMutual MassMutual is a leading mutual life insurance company that benefits its members and participating policy owners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect their loved ones. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management, and retirement products and services. For more information, visit massmutual.com. About American Financial Group, Inc. American Financial Group is an insurance company based in Cincinnati, Ohio. Through Great American Insurance Group operations, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses. Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American insurance company.

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CORE INSURANCE

NAU Country Launches Grain Cart Reporting with Agrimatics™

NAU Country Insurance Company | September 08, 2021

NAU Country Insurance Company, one of the largest crop insurance providers in the U.S., and Agrimatics, a leading agricultural software technology company, announced a partnership to help their customers – the American Farmer – more efficiently report production for their crop insurance policies. This partnership certifies the digital file output from Agrimatics' Libra Cart is compatible with NAU Country's EASYwriter Pro® processing and adjusting suite of software. This certification means that farmers now can transfer their on-farm storage production information easily from field to truck to their crop insurance agent or adjuster. In turn, that data will be imported into NAU Country's system where the agents and adjusters will associate it to the corresponding unit and location. As always, farmers have complete control on what information (if any) will be shared with NAU Country's system. Agrimatics' Libra Cart is a tablet and smartphone-based grain cart weighing and data management system. The Libra Cart hardware device mounts directly onto a grain cart and wirelessly communicates with the Libra Cart app running on a compatible mobile device in the tractor cab. Libra Cart's patented technology simplifies and streamlines harvest data management, providing load tracking from field to truck to destination. NAU Country is America's original Multi-Peril Crop Insurance (MPCI) company and one of the largest federal crop insurance providers in the United States, specializing in MPCI, Crop-Hail, and Named Peril insurance products. The company is part of QBE Insurance Group Limited, a global insurance leader focused on helping customers solve unique risks worldwide. "We're about keeping crop insurance simple," said NAU Country Chief Marketing and Technology Officer, Michael Deal. "NAU Country thrives on creating agricultural risk management tools through the use of technology and customer service," added Deal. "The integration with Agrimatics empowers our insureds to utilize technology to efficiently report production data while in the office, in the field, or on the go. Creating happier customers and agents." About Agrimatics™ Agrimatics is Bitstrata Systems' agriculture brand, which focuses on creating smarter, simpler equipment monitoring, control, and data management solutions for farmers and their farms. Located in Saskatoon, Saskatchewan, Bitstrata rests in the agricultural heartland of Western Canada. The Bitstrata team has decades of collective experience creating and delivering products for the tough environments of the agricultural, telecommunications and weighing industries worldwide. About NAU Country NAU Country Insurance Company, a QBE Insurance Company, is a leading multi-peril crop insurance company passionate about serving the American farmer and supporting their agents in the continental U.S. Headquartered in Ramsey, MN with branch offices in 10 locations, NAU Country has grown over the years by providing outstanding customer service and leading-edge technology. NAU Country is currently licensed in 48 states and employs over 800 field and office staff across the country. As a division of QBE Insurance Group Ltd., a leading global insurer, NAU Country has the financial strength for today's insurance environment.

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CORE INSURANCE

Hub International Acquires Assets of The Olson Insurance Agency LLC And Insure All LLC

Hub International Limited | November 03, 2020

Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the insurance brokerage assets of The Olson Insurance Agency LLC (The Olson Agency) and Insure All, LLC (Insure All). Terms of the transaction were not disclosed. The owner of The Olson Agency and Insure All, Max Olson and Michael Forney, respectively, were each previously part of Nationwide Mutual Insurance Company's (Nationwide) exclusive distribution model and recently transitioned to independent brokers. Both The Olson Agency and Insure All provide personal and commercial insurance services, including home, auto, life and business. The agencies are based in the following cities in Virginia: The Olson Agency in Springfield, Arlington and Woodbridge; and Insure All in Stanley.

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