Noblr launches auto insurance product in Colorado

insurancebusinessmag | June 21, 2019

Noblr Inc. has announced the launched of its flagship personal auto insurance product in Colorado.
Noblr offers individualized auto insurance rates based on a policyholders driving behavior as recorded on a smartphone app. According to the company, good drivers can potentially save up to 51% on their premium

Spotlight

The world is full of risk. But U.S. insurance companies are missing the biggest risk of all. While many global insurers are ditching coal and fossil fuels, US insurers continue to prop up a dying industry making climate change worse.

Spotlight

The world is full of risk. But U.S. insurance companies are missing the biggest risk of all. While many global insurers are ditching coal and fossil fuels, US insurers continue to prop up a dying industry making climate change worse.

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INSURANCE TECHNOLOGY

Zywave Named as a Leader in Digital Insurance Agency Platforms by Independent Research Firm

Zywave | March 24, 2022

Leading insurtech provider, Zywave, announced today that it has been recognized as a leader by Forrester Research in "The Forrester Wave™: Digital Insurance Agency Platforms, Q1 2022" report. According to the report, "The latest digital insurance agency platforms (DIAPs) support agents' technology needs through open, API-based offerings, extensive technology and carrier partner ecosystems, and digital agency and customer journey capabilities." The report provided a comprehensive evaluation of the 11 most significant digital insurance agency platform providers and evaluated them in three categories, including current offering, strategy, and market presence. Zywave is recognized as a leader among the providers included in the report, and receiving the highest possible rating in 15 criteria. We are extremely pleased with how Zywave and our solutions are represented in The Forrester Wave report, Over the past few years, Zywave has made significant investments to expand our capabilities, both through acquisitions and through organic development within our platform. Through these efforts, Zywave offers a leading end-to-end solution that powers growth for all of the top insurance agencies. We are pleased to partner with industry-leading firms and proud of this recognition. As we continue to grow, we are looking forward to delivering even more to our customers." Eric Rentsch, Zywave senior vice president of product management. The Forrester Wave™ is a guide for buyers considering their purchasing options in a technology marketplace. The guide uses a transparent methodology to compare the players in a software, hardware, or services market so the professionals they serve can make well-informed decisions without spending months conducting their own research. As an end-to-end solution, Zywave enables agencies and carriers to simplify digital transformation with robust marketing and lead generation, quoting and proposals and agency management capabilities that allow businesses to run efficiently. 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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INSURANCE TECHNOLOGY

Aline Capital Launches Insurance Division to Expand Commercial Real Estate Service Offerings

Aline Capital, LLC | June 16, 2022

Southeast-based Aline Capital has launched a commercial insurance division, adding to its current service offerings in the commercial real estate sector. The division will focus on commercial property, general liability, and builder's risk insurance for commercial real estate investors and developers throughout the region. The firm made the strategic decision to launch an insurance division after experiencing several headwinds in the commercial insurance market on deals they were advising their clients on. Commercial insurance has proven to be extremely challenging and an evolving dynamic for transactions in the current market environment. By launching Aline Capital Insurance Services, we are now able to help clients navigate each piece of the investment process. As investment advisors, our goal is to bring an elevated level of personal service and value to every client and transaction. We now feel that we have a complete service offering for clients with the rollout of our commercial insurance division." Aline Capital Managing Partner Joey Weinel. The firm has enlisted Greenville native and insurance veteran, Kevin Allen, to lead the firm's initiative. Allen said the main points for clients to know are what type of insurance they are buying, what it covers, and how it applies to their commercial property and/or business. Simplifying the transaction and looking at the cost of ownership are also important. Aline Capital is a fully integrated commercial real estate and capital markets advisory firm. It offers investment sales, leasing, and debt and equity advisory services to commercial real estate developers and investors.

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RISK MANAGEMENT

Applied Underwriters Sets Acquisition of Catlin Specialty Insurance Company

AXA XL | February 24, 2022

Applied Underwriters has announced that it will acquire Catlin Specialty Insurance Company ('A+' rated) from the AXA XL group of companies, consolidating the company into the North American Casualty group of companies ('A' rated) in a move intended to bolster Applied's operating capabilities in support of its strategic partners as the E&S market hardens. The transaction is scheduled to close during Q2 as anticipated regulatory approvals are received. Mr. Jamie Sahara, President of Applied Underwriters, characterized the acquisition as a major advantage to Applied, its emerging E&S market leadership and its growing collaboration with channel partners in the sector: "Applied has consistently executed our commitment to sustaining and growing our national platform for E&S business and to intensifying our relationships with our strategic partners with whom we have impacted the sector. This is an important development for us and for our partners in the E&S market." -Mr. Jamie Sahara, President of Applied Underwriters Mr. Steve Menzies, Chairman of Applied Underwriters, noted that the structure for the transaction drew upon a business transfer process used in Oklahoma that is based upon the successful Part VII transfer procedure used in the UK and the EU: "We found great potential in the Oklahoma Insurance Business Transfer (IBT) Act's regulatory process and its regulators' application of it. Uniquely, the IBT process permits insurers the ability to effect the absolute transfer of blocks of insurance business from one insurer to another, providing both the transferring and assuming companies an efficient, transparent and straightforward process, while also realizing a legal finality. Our deal was complex and the Oklahoma regulatory format really helped facilitate this." -Mr. Steve Menzies, Chairman of Applied Underwriters According to Mr. Menzies, the transaction required the redomestication of the company: "The Catlin Specialty Insurance Company is licensed as an E&S carrier in all states except Oklahoma where it will be domiciled and where it holds a large number of surplus lines authorizations. To effect the acquisition, Applied and AXA XL worked with Delaware and Oklahoma regulators to redomesticate Catlin from Delaware to Oklahoma, so that Oklahoma's IBT process could be used. We thank the regulators involved in these states in acting to benefit the sector and, ultimately, the clients we serve." Formed in the 1950s, the Company that is Catlin Specialty Insurance Company today was the subject of a series of transactions that culminated in its acquisition in 2006 by Catlin Group Limited. In 2015, the Company became part of what is now AXA XL. Catlin Specialty Insurance Company currently holds an 'A+' rating from AM Best. The North American Casualty companies are rated 'A' by AM Best. About Applied Underwriters Applied Underwriters® is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance and reinsurance solutions. As a company, Applied Underwriters has been distinguished by its innovative approaches to client care and by its strong financial strength. Applied Underwriters operates widely throughout the US, UK, EU and Middle East. Its operational headquarters is located in Omaha, Nebraska. About AXA XL AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. AXA XL partners with those who move the world forward.

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