Laptops for the Homeless scheme gets support from Aviva

Insurance Business America | May 07, 2019

Laptops for the Homeless scheme gets support from Aviva
British insurance giant Aviva has pledged to donate to SocialBox.Biz’s “Laptops for the Homeless” initiative to help disadvantaged people gain access to digital services. A community interest venture in London, SocialBox.Biz provides old computers to those in accommodation services, young people in the care system, as well as the likes of refugees. It works with accommodation and charitable organisations to ensure that laptop handovers occur within facilities that have suitable services like an internet connection. “Digital access is such an integral part of modern society,” noted SocialBox.Biz founder Peter Paduh. “It’s almost impossible to apply for a job or connect with a loved one without technology today, so SocialBox.Biz is working to do something about it. “Digital access is such an integral part of modern society,” noted SocialBox.Biz founder Peter Paduh. “It’s almost impossible to apply for a job or connect with a loved one without technology today, so SocialBox.Biz is working to do something about it. Meanwhile, to ensure that no information from the insurer is shared externally, all Aviva data will be removed from the old laptops before they are donated to SocialBox.Biz.

Spotlight

As insurance firms adapt to maturing markets and economic turbulence, in the long run, their ability to integrate technology, talent, and business-model innovation into legacy environments may be the key to success. The insurance industry remains resilient, continuing to generate growth around the world and maintaining overall profitability despite turbulence in the global economy.

Related News

CORE INSURANCE

Lenders Service Corporation (LSC) Joins Unitas Financial Services

Unitas Financial Services | September 27, 2021

Lenders Service Corporation (LSC) is excited to announce its merger with Unitas Financial Services (Unitas) whose mission is to provide the nation's simplest portfolio protection to lenders and real estate investors across the country. LSC is a licensed Managing General Insurance Agency that has served the insurance needs of the lending community since 1981. Unitas, pronounced [YOO-ni-tahs], is a Latin word that means "Oneness or Unity". The merger with Unitas serves to provide an even broader range of highly specialized lender and real estate investor protection programs to all clients, backed by exceptional customer service. The merger of LSC with Unitas brings together a total of 14 insurance carriers and 510 clients across 30 states. LSC is based in Louisville, KY, and Unitas is based in Dublin, OH with offices in Debary, FL, and representatives across the United States. The merger builds upon the "customer first" service philosophy that has guided both companies to success. Clients will also have access to a robust range of new products, including insurance tracking, mortgage settlement solutions, blanket mortgage, blanket consumer protection (VSI), blanket equipment coverage, and more. In addition, the merger between LSC and Unitas brings unmatched claims handling experience, better coverage for lenders, and a depth of leadership and staff experience that is unmatched in the industry. Previously, LSC had acquired the Financial Products Division of Assured Partners NL, LLC's Lexington, KY office. The merger with LSC is a clear signal of Unitas's dedication to the lender protection market, as well as its commitment to provide the most up-to-date and innovative products, services, and concepts in financial institution coverage. With the talent, industry knowledge, and carrier access that comes with our combined organizations, we will be able to provide our clients with a more diverse, creative, and comprehensive lineup of products and services. We cannot say thank you enough for your loyalty to our agency over these last 40 years. We will continue to work hard in earning that loyalty as we move into the future as a part of the Unitas family. - LSC President Gary Criscillis About Unitas Unitas was formed in 2020 when Golden Eagle Insurance, founded in 1995, merged with Innovative Risk Solutions, founded in 2005. Unitas provides portfolio protection services for lenders, such as vendor's single interest (VSI), blanket mortgage hazard, blanket commercial equipment, collateral protection insurance (CPI), lender-placed hazard and flood coverage, loan default coverage (Protequity), tax tracking, guaranteed asset protection (GAP), as well as portfolio protection for real estate investors. Lenders in the property and automotive sectors will benefit from a combined 82 years of industry experience from LSC and Unitas. The merged companies will be in a strong market position to offer their services to lenders and real estate investors going forward.

Read More

INSURANCE TECHNOLOGY

Heritage Announces Strategic InsurTech Partnership with Slide

Heritage | November 29, 2021

Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, announced today that it has entered into a strategic partnership with Slide, a startup InsurTech P&C carrier led by Bruce Lucas, Heritage's former Chairman and CEO, providing it with enhanced technological capabilities and allowing it to participate in the InsurTech sector's upside. Partnership provides Heritage with the opportunity to: Leverage Slide's InsurTech capabilities to improve underwriting and rating decisions. Further capitalize on strong agency relationships by generating commission income on policies that don't meet Heritage's underwriting criteria (e.g., due to geographic concentration). Participate in the InsurTech sector without potentially significant capital requirements to develop similar capabilities internally. Based on current publicly traded InsurTech valuations, potential to generate a meaningful capital gain, which, if realized, could provide additional funds for share buybacks or debt retirement. Terms of the partnership Heritage will receive: Approximately 6% equity stake in Slide, an InsurTech P&C carrier with an estimated $250 million post-money valuation, and warrants allowing it to purchase an additional equity interest at Slide's pre-money valuation. Perpetual, royalty free license to certain aspects of Slide's software. Heritage will: Transfer ownership of Pawtucket, a dormant P&C carrier licensed in Rhode Island. Transfer ownership of First Access Insurance Group, a Florida-licensed MGA with minimal earnings. Provide access to historical claims and underwriting data. Ernie Garateix, Heritage's CEO, said, "We're excited to partner with Slide and our former colleague on this win-win opportunity. We believe this partnership will significantly accelerate development of our InsurTech capabilities, while providing us with an equity stake in an impressive startup that is developing cutting edge technology." Financial information, including material announcements about Heritage, is routinely posted on investors.heritagepci.com. About Heritage Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. Through its insurance subsidiaries and a large network of experienced agents, the Company writes approximately $1.2 billion of gross personal and commercial residential premiums across its multi-state footprint.

Read More

INTELLECTUAL PROPERTY

High Street Insurance Partners Successfully Acquires Southeastern Agency Group.

High Street Insurance Partners | January 14, 2022

High Street Insurance Partners ("HSIP") announced its December acquisition of Southeastern Agency Group (SAG), a full-service insurance firm based in Greensboro, North Carolina. "Our rapid expansion bringing together like-minded agencies allows us to leverage our relationships to better serve our clients," said Scott Wick, CEO of HSIP. "With this acquisition, we're uniquely positioned to meet the full range of insurance solutions for current and future clients." Greg Myers, President of SAG, stated, "HSIP has a proven track record of success and industry leadership. We're excited for all this means for our firm and our clients." This acquisition is one of 17 finalized in December, making HSIP one of the most active brokerage firms in 2021, in terms of acquisitions. HSIP has acquired 97 agencies in just three years. The firm has a geographical footprint that includes 23 states. About High Street Insurance Partners High Street Insurance Partners (HSIP) is a full-service, independent insurance brokerage firm. Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies. HSIP employs over 1,700 insurance specialists & consultants in offices based in Arkansas, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, & Washington.

Read More

Spotlight

As insurance firms adapt to maturing markets and economic turbulence, in the long run, their ability to integrate technology, talent, and business-model innovation into legacy environments may be the key to success. The insurance industry remains resilient, continuing to generate growth around the world and maintaining overall profitability despite turbulence in the global economy.