Lloyd’s of London to pour funding into cloud-based insurance platform

Insurance Business America | May 10, 2019

Lloyd’s of London, which earlier this month unveiled a bold modernisation plan, has announced it will provide backing to artificial intelligence start-up Layr. Without disclosing the amount, the centuries-old exchange said it will be investing in the cloud-based commercial insurance platform following a successful trial in the Lloyd’s Lab. The Lab, whose first cohort included Layr, provides insurtechs the opportunity to test their ideas within the Lloyd’s insurance and reinsurance market. Designed to afford small businesses faster access to liability insurance, Layr’s solution uses a proprietary price and appetite prediction engine that matches business with the right policies from the right carrier at the right price. With the investment from Lloyd’s, Layr will develop its platform further. “Modern business owners do everything online, so Layr is the natural evolution for small business insurance,” noted Layr chief executive Phillip Naples. “We feel validated that the world’s oldest and most respected insurance marketplace agrees and recognises that the technology we’re creating is the future of small commercial distribution.” In addition, the Atlanta-based insurtech is exploring potential distribution opportunities with several Lloyd’s syndicates.

Spotlight

Life insurers are a major source of bond financing for U.S. businesses, holding more than 20% of all U.S. corporate bonds.

Spotlight

Life insurers are a major source of bond financing for U.S. businesses, holding more than 20% of all U.S. corporate bonds.

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CORE INSURANCE, INSURANCE TECHNOLOGY

Zywave Expands Carrier Offerings with Launch of Carrier Engagement Suite

Zywave | September 02, 2022

Leading insurtech provider, Zywave, today announced the release of a new offering, Carrier Engagement Suite, which leverages Zywave's Client Cloud to connect carriers with insureds at scale by harnessing industry-leading content, web portal access, and a learning management system, all in a single platform. The Carrier Engagement Suite fosters stronger relationships with insureds, while differentiating the carrier's offerings and services. This one-stop shop gives insureds the tools to take greater control of their insurance journey, while bolstering insurers' value as they provide these critical resources to individual employers and corporate policyholders. "Our Carrier Engagement Suite dramatically upticks the number of off-cycle customer touchpoints for carriers between policy inception and renewal, Providers are expected to engage with insureds and continually offer content and resources which effectively lower claims exposure and raise retention stickiness but that's a lot of work. Zywave's Carrier Engagement Suite lowers that burden by delivering these resources at scale. With content, courses, and tools available in one centralized location, carriers now have a streamlined process that enables them to meet the increasing expectations of their customers." -Zywave senior vice president Jeff Cohen This dynamic solution set allows carriers to access, curate, and share relevant resources with their insureds. In addition, the Carrier Engagement Suite is home to a vast library of comprehensive content, hundreds of compliance courses, and tool packages for multiple specialties. Carriers can customize the user experience and portal interface to match their branding and corporate style, creating a seamless extension of their coverage offerings. The Carrier Engagement Suite's web portal is also available to insureds 24/7, ensuring that they can connect to important information and resources at their convenience. About Zywave Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Zywave's all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals their own Modern RevOps Machine. More than 15,000 carriers, agencies and brokerages worldwide including all of the top 100 U.S. insurance brokerages use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety.

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CORE INSURANCE

Alliant Insurance Services Acquires FutureSense, Expands Consulting Capabilities

Alliant Insurance Services | November 04, 2022

Alliant Insurance Services has acquired FutureSense, a national provider of people-focused HR, compensation, and organizational development services. The move expands Alliant’s consulting capabilities across a breadth of geographies and industry categories within its Employee Benefits Group. “FutureSense has earned a reputation as a national leader in management consulting through its focus on putting people first, They have a diverse team of expert consultants who excel at delivering strategies and solutions that improve business performance and help employees thrive.” -Kevin Overbey, President, Alliant Employee Benefits Founded in 1995, FutureSense has emerged as an innovative force in HR, compensation, and organizational development consulting through the deployment of multifaceted strategies that focus on helping companies grow and seeing people succeed. The firm has a national reach and is active across a broad cross-section of industries with a large presence in the healthcare and high-tech sectors. FutureSense has always taken a holistic and strategic approach to working with our clients. While focusing on people, we strive to deeply understand the ‘business of the business’ and the resultant strategic, tactical, and transactional needs of our clients, By aligning with Alliant, we gain access to a robust set of competencies that will expand our reach and provide powerful new tools and resources to our existing clients,said Jim Finkelstein, Founder, President and CEO of FutureSense. Additionally, FutureSense has been a virtual company since its founding, giving its team unparalleled insight into the virtual workplace as more organizations embrace remote work. We understand the remote worker because we have been remote for our entire existence, said Finkelstein. FutureSense and its national team of consultants will join the Alliant family of companies and will continue operating under its current name and brand. Terms of the agreement were not disclosed. About Alliant Insurance Services Alliant Insurance Services is one of the nation’s leading distributors of diversified insurance products and services. We operate through a network of specialized national platforms and local offices to offer our clients a comprehensive portfolio of solutions built on innovative thinking and personal service. The business of managing risk is getting more complex, and Alliant is meeting this complexity head-on, not with more layers of management, but with more creativity and agility. Alliant is changing the way our clients approach risk management and benefits, so they can capitalize on new opportunities to grow and protect their organizations.

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CORE INSURANCE

Inszone Insurance Services Continues Expansion in Texas with the Acquisition of Proctor Insurance

Inszone | October 20, 2022

Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of Proctor Insurance, providing the fifth acquisition in the state of Texas. Founded by Jeff Proctor in 1988, Proctor Insurance has been a pillar in the Houston area. Jeff started in his community founding two grocery stores in the Houston area, but when those were sold to a local chain, he begun looking for a change of pace which would allow him to provide for his wife and three small children and lead him away from the 7-day work week. After consulting with a friend in the insurance industry, Jeff decided to open his agency and built it from the ground up. He built a reputation of success among small hotels and motels, who appreciated the honesty and dedication of him and his team. Getting ready to retire, Jeff knew he wanted to find a company to provide opportunity for advancement and further education to his employees while also providing great resources to his clients. Proctor Insurance customers will continue to receive the service they are accustomed to, under the Inszone Insurance brand. “Jeff of Proctor Insurance told us his team was his true success story, and he was 100% right, we couldn’t be happier to provide them with the resources to continue their great work under the Inszone brand, We are excited to see our service footprint grow in the state of Texas and look forward to many years of success with the team from Proctor Insurance.” -Norm Hudson, CEO of Inszone Insurance Services Inszone Insurance is expected to announce a number of important acquisitions in the upcoming months as it continues to build its national presence. About Inszone: Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 31 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

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