Workers Compensation, Risk Management
Businesswire | July 05, 2023
Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today that they have acquired Nugen and Associates, an insurance brokerage based out of Rancho Cucamonga, CA. With this acquisition, Inszone Insurance Services expands its commercial insurance expertise, while providing enhanced services and support to existing and new clients in the Rancho Cucamonga area.
Known for its comprehensive insurance solutions for local contractors and businesses, Nugen and Associates has gained an excellent reputation in tailoring insurance products to meet specific client needs. This expert knowledge in commercial and contractor insurance enriches Inszone's service offering.
“Nugen and Associates have done a great job focusing on the commercial space, building strong relationships with their customers,” said Chris Walters, CEO of Inszone Insurance Services. “We look forward to expanding the reach and providing additional product offerings to said clients, giving them access to personal lines and benefits insurance solutions, all with the goal of providing customers a true one-stop-shop for all their insurance needs.”
Inszone Insurance Services will continue to provide exceptional insurance services while maintaining the same level of dedication to personalized service and professionalism that clients have come to expect. Current clients of Nugen and Associates can expect a seamless transition with the same high-quality service and support as before, now enhanced by the resources and capabilities 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 Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that 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 40 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.
Globenewswire | July 13, 2023
Bees360, the top provider of drone-enabled property inspection services powered by artificial intelligence (AI), and Hosta AI, the most advanced provider of AI-enabled interior property inspections powered by more than a decade of MIT research, have partnered to transform the insurance claims process.
Inconsistent data collection and varying methods of individual inspectors and adjusters with differing expertise complicate traditional processes in property and damage inspections. With more than six million home inspections conducted annually in the U.S. alone, insurers need consistent, accurate, and transparent processes of effectively managing such risks. Bees360 and Hosta AI address this challenge head-on by harnessing advanced technologies to improve the quality, efficiency, and accuracy of property inspections, to produce the most robust property dataset possible, and to enable superior claims service from the start.
"This partnership with Hosta AI means we are collectively bringing operational efficiencies and advanced interior data analytics to the insurance industry," said Andy Liu, CEO of Bees360. "By combining the power of aerial and interior inspection and advanced data processing, we are revolutionizing insurance claims processing and providing insurers with a competitive edge while delivering faster, more accurate results for policyholders."
The combined AI capabilities of Bees360 and Hosta AI offer a complete solution for property inspections and claims adjustments. Bees360 leverages state-of-the-art drone inspection technology and Hosta AI delivers an AI-powered Assessment Platform to address the interior, resulting in streamlined and accelerated claims processing.
"Our partnership with Bees360 allows us to harness their extensive aerial inspection capabilities and combine them with our expertise in advanced interior data processing,” said Henriette Fleischmann, CEO of Hosta AI. “By unlocking the potential of AI and machine learning, we can provide insurance companies with unparalleled insights to enable superior service and highly accurate claim settlement."
Bees360 and Hosta AI share a commitment to delivering innovative solutions that expedite the claims settlement process, enhance accuracy, reduce costs, and improve customer satisfaction.
Bees360 is a leading innovator of deep learning and computer vision technology who focuses on bringing AI and drone solutions to property underwriting and claim inspections. It is founded by data scientists and insurance experts whose collective background in data science, mathematics, property claims & underwriting provide an unparalleled level of knowledge to build AI-powered workflow and a disruptive business model for the conventional insurance industry. Learn more at www.bees360.com.
About Hosta AI
Established in 2020, Hosta AI is on a mission to empower people and businesses with fast, accessible and trusted information about their built surroundings. Hosta helps companies that need fast and accurate data about the built environment accelerate their businesses with automated property assessments. The Hosta AI Assessment Platform uses patent-pending AI spatial and material analysis to automate property assessments from just a few simple photos. To learn more about Hosta AI, please visit www.hosta.ai.
Core Insurance, Insurance Technology
PRnewswire | July 11, 2023
NSM Insurance Group, the nation's leading specialty insurance provider with more than $1.5B in premium across 25+ niche insurance programs in the U.S. and U.K., today announced the completion of its acquisition of Shield Commercial Insurance Services. Based in Palm Desert, CA, Shield specializes in insurance solutions for the general contractor and construction liability space.
"We are energized to continue our series of strategic acquisitions in the U.S. and U.K. with Shield," said Bill McKernan, President of NSM Insurance Group. "Shield is a fast-growing and best-in-class business with exceptional underwriting and a profitable track record. They are a perfect fit for our B2B portfolio of dynamic, specialized businesses. We will accelerate their growth by expanding their geographic footprint and national distribution with our robust network of 15,000+ agent partners across the country."
Shield is exclusively focused on underwriting business for small and mid-sized contractors, offering coverages for General Liability, Excess Liability, Workers' Compensation, Inland Marine and Contractors Professional & Pollution Liability.
"We're thrilled to join the NSM family of specialty insurance brands and further enhance and bolster our offerings to meet the unique needs of contractors," said Robert Anderson, President and Co-Founder of Shield Commercial Insurance Services. "Over the last two decades, we have delivered innovative products for this niche segment and have built a tremendous reputation with agents and carriers alike — which has fueled our explosive organic growth over the last five years."
Over the past 33 years, NSM has developed a winning formula for building the industry's most successful and sustainable programs, consistently outperforming competitors and driving industry-leading growth and profitability over the last four years. This latest acquisition complements NSM's robust portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance — backed by the company's state-of-the-art resources, including IT, operations, marketing, HR and finance.
About NSM Insurance Group
NSM Insurance Group is the nation's leading specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.5 billion in premium across 25+ specialty insurance programs and brands in the U.S. and U.K. focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; medical stop loss and managed care; staffing; and workers' compensation. For more information on NSM, visit nsminc.com.