NJ PURE enters reinsurance contract with Gen Re

NJ PURE | March 18, 2020

NJ PURE enters reinsurance contract with Gen Re
NJ PURE – a medical malpractice insurer based in New Jersey – has entered a partnership reinsurance contract with General Reinsurance Corporation (Gen Re), a Berkshire Hathaway member company. A release said that the agreement will strengthen NJ PURE’s position in the industry and will support its growth in the years to come. “All of our policyholders may now take added comfort in knowing that NJ PURE has the financial support of Gen Re and the billions of dollars in assets behind it,” said NJ Pure principal and chief litigation officer Eric Poe. Poe added that the primary driver for the agreement was NJ PURE management team’s “long history of successful insurance operations in New Jersey.” He also mentioned the firm’s reputation as a physician advocate and its record of fighting against medical malpractice cases as factors in forming this partnership. “By backing NJ PURE up to 70% of our future exposures up to our policy limits, we believe Gen Re’s commitment to us is a testament to our long-term business model and its viability into the future,” the principal remarked.

Spotlight

This is a video explainer of the difference between Content Marketing, Branded Content and Native Advertising - with examples to help put it all into context.Accompanying video that tried to separate signal from noise on the different approaches of content in the business.

Spotlight

This is a video explainer of the difference between Content Marketing, Branded Content and Native Advertising - with examples to help put it all into context.Accompanying video that tried to separate signal from noise on the different approaches of content in the business.

Related News

INSURANCE TECHNOLOGY

Exavalu and Topa Insurance Company Successfully Implement Digital Claims Payment Capabilities with One Inc and Guidewire Technology

One Inc | January 18, 2022

Exavalu Inc., a leading global digital solutions and IT consulting company and Guidewire PartnerConnect Consulting Select partner, announced today that they have partnered with Topa Insurance Company to successfully enable digital claims payment capabilities for the insurer. Topa Insurance Company seeks to achieve faster claims processing, improved customer experience, and lower operational costs through its use of digital payment capabilities from One, Inc., a Guidewire PartnerConnect Solution Advantage partner, integrated with its Guidewire InsuranceNow core suite. Topa Insurance Company engaged Exavalu Inc, a One Inc. partner and a Guidewire PartnerConnect Select Consulting partner, to deliver the digital payments capability. Exavalu provided technical and business process expertise around Guidewire InsuranceNow integrations with One Inc, helping with requirements definition and overall implementation of the integration. "I was very impressed with the skills and experience demonstrated by both One Inc and Exavalu in making this a successful project, In a very short period of time, we were able to greatly improve user experience in claims payment processing, while creating efficiencies for our claims examiners." -Tracy Tillinghast, Vice President and Chief Information Officer of Topa Insurance Company. "The One Inc. implementation was completed successfully within three months from inception to deployment of the product. The integration between Guidewire InsuranceNow and One Inc. was a unique feature of the implementation as was the range of payment methods that we helped enable with the initial deployment." -Smitha Sasidharan, Guidewire InsuranceNow Practice Leader, Exavalu "Digital payments is a critical component of the digital journey for insurers to help improve customer experience and reduce costs. We've been a trusted partner to Topa on their technology needs and glad to have collaborated successfully on this initiative." -Saurav Basu, President and Founder, Exavalu One Inc. enables insurance carriers to digitally pay claimants, vendors, mortgagees, lienholders, third party carriers and multiple parties. Payments can be made with a variety of payment methods including direct debit, ACH, claims cards, Venmo, PayPal, and checks. About Topa Insurance Company Topa Insurance Company is one of the wholly owned subsidiaries of Topa Insurance Group, a boutique insurance holding company which provides insurance products through the wholesale market. Other subsidiaries include Dorchester Insurance Company (USVI) and Topa Insurance Services (USVI). The group is led by President and Chief Executive Officer, Michael Day. Topa Insurance Group is focused on underwriting profit, operational excellence and agility for continuous growth. About Exavalu Exavalu is a Specialized Digital Transformation Advisor & Digital Solutions Partner for the Insurance Industry. Founded by former Industry CIOs and Consulting Executives with background in complex transformation and change Initiatives within the Insurance Industry, Exavalu brings the best in Strategic Advisory and Digital Solutions delivery on Industry leading technology platforms. About One Inc One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payment, even for the most complex insurance use cases. As one of the fastest growing digital payment platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claims payments.

Read More

AUTOMOBILE INSURANCE

High Street Insurance Partners Successfully Acquires Insurance Services Group.

High Street Insurance Partners | January 24, 2022

High Street Insurance Partners ("HSIP") announced its December acquisition of Insurance Services Group (ISG), a full-service, regional insurance brokerage firm. ISG is headquartered in Washington and serves clients in 12 states, with a large concentration in the West. "This acquisition represents our continued expansion in the West, With the addition of ISG, we can assist a greater number of clients with a full spectrum of insurance needs." -Scott Wick, CEO of HSIP. "We are excited to join HSIP. Their vision aligns perfectly with ours; commitment to our clients and the local communities in which we live. We will be able to leverage the partnership to continue to provide best-in-class solutions to all our clients." -Trevor Campbell, President of Insurance Services Group 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 spanning 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

Shift Technology, Selected to Support Fraud Detection Initiatives for Falcon Insurance Company.

Cision PR Newswire | September 14, 2020

Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry, today announced the company has been selected to support fraud detection initiatives for Falcon Insurance Company. The Illinois-based auto insurer will deploy Force, Shift's fraud detection solution to accurately and efficiently uncover suspicious behaviors in the claims processes. Falcon has built a successful business on an ethos of simplicity, creativity, integrity, and efficiency. As such, the company strongly believes that the right combination of technology and expertise results in a fast and fair claims experience, the time when policy holders need insurers the most. Fraud negatively impacts the customer experience through not only higher premiums but also longer time to settlement. Knowing this, Falcon initiated a search for fraud detection technology that would meet their key requirements – ability to uncover a wide range of fraud, support for evolving fraud models – including those resulting from COVID-19 – and fast deployment and rapid return on investment.

Read More