Coalition | July 24, 2020
Cyber insurance and security company Coalition has announced it is entering the excess cyber insurance market. The move will extend Coalition’s reach beyond offering primary insurance coverage. The company will now be able to provide brokers with excess cyber liability and technology errors and omissions insurance for middle-market accounts in the US with up to $10 million in aggregate limits. The new surplus lines capacity is backed by Lloyd’s and has an A rating from AM Best, Coalition said.
Invoice Cloud | March 17, 2021
Invoice Cloud, an EngageSmart answer for online bill payment services, today reported huge development in the insurance industry, having marked 150 insurance clients in three years. Invoice Cloud presently serves clients in large commercial and personal lines, laborer's compensation, farm bureaus, medical malpractice, regional carriers, and managing general agents (MGAs)— supplanting significant contenders more than 40 times.
The previous year brought a restored push for advanced change in the insurance industry as a worldwide pandemic challenged insurers to communicate, service and process manual payments, and to win new business. All must be managed without taking a chance with the wellbeing and prosperity of workers acquainted with an in-person working model.
With mail frameworks under huge tension in the midst of extreme climate occasions and a critical expansion in volume, the requirement for protected, productive, easy to use computerized payment choices has additionally skyrocketed. People and independent ventures have been under colossal monetary pressure with worldwide disturbance and a financial plunge at play, just enhancing the requirement for disentanglement of payments.
Invoice Cloud clients have encountered striking, substantial advantages from the stage. California Mutual, for instance, encountered a 151% expansion in e-appropriation and higher consumer loyalty, a 15x expansion in paperless enlistment, a normal diminishing of 15 hours of the week spent on payment compromise, and a lessening in sent payments, all inside a year of carrying out the Invoice Cloud arrangement.
Invoice Cloud has additionally as of late marked two large clients in laborer's compensation insurance. The organization's work with carriers of laborer's compensation insurance shows the arrangement's top-rate customization abilities, as these clients frequently choose a pay-more only as costs arise plan rather than the basic level fee model utilized by most insurance organizations.
About Invoice Cloud
Invoice Cloud, an EngageSmart solution, is the leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping legacy institutions put customer experience first. By switching to InvoiceCloud, clients improve customer engagement, loyalty, and efficiency while reducing churn and missed payments in the process. With over 2,100 clients across the US and over 50 million payments processed annually, InvoiceCloud is one of the most secure, innovative, and inclusive fintech solutions in the market.
Sedgwick | November 22, 2021
Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, announced it has acquired Temporary Accommodations, which provides high-quality, temporary housing and related services to displaced policyholders.
As part of this strategic transaction, Temporary Accommodations joins Sedgwick's property Americas division and further builds on the company's end-to-end claims services from intake to field adjusting to temporary housing to building repairs, with solutions that enable insurers to fully support their policyholders.
Founded in 1996 and headquartered in Atlanta, Temporary Accommodations locates temporary housing options for displaced insurance policyholders and helps to manage additional living expenses during home insurance claims following fire, water, wind and storm damage and emergency evacuations. As one of the largest providers of claims-related housing services, Temporary Accommodations focuses on cost management and stress reduction for a better customer experience, negotiating preferential housing and hotel rates and reducing insurers' indemnity spend.
"The Temporary Accommodations team is well-known by insurance professionals and homeowners for their dedication to service and solutions for displaced homeowners, They are often on the front lines when disaster strikes, providing care and comfort to displaced families. Temporary Accommodations is a natural fit with the Sedgwick team, and joining forces will allow us to work together to support the entire claims journey and recovery process. We look forward to this partnership and to providing clients with end-to-end property claims solutions."
- Steve Powell, Sedgwick executive vice president.
"Our company grew from humble entrepreneurial roots into one of the largest providers of temporary housing services in the insurance space. Joining an industry leader like Sedgwick will take our work to the next level, Moreover, our 'TA cares' motto perfectly aligns with Sedgwick's 'caring counts' philosophy. TA's mission has always been to operate with unsurpassed empathy, integrity, service and attention to detail, and we will continue to do so as part of the Sedgwick family."
- Aaron Wilson, founder, president and CEO of Temporary Accommodations.
Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to our clients' specific needs in casualty, property, marine, benefits, brand protection and other lines. At Sedgwick, caring counts; through the dedication and expertise of more than 27,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick's majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ), Onex and other management investors are minority shareholders.