Mercury Insurance | November 19, 2021
Beginning January 3rd, 2022, Mercury Insurance (NYSE: MCY) is rolling out Mercury's My Workplace, a new business model that will allow team members to choose where they want to work. It will give many of the company's team members the freedom to work from home, which may be anywhere in the United States, from the office, or a hybrid combination of both.
"Mercury Insurance has learned a lot about how our team members work and how they have taken care of our policyholders, themselves and their families during the past two years," said Heidi Sullivan Lopez, Mercury Insurance Vice President and Chief Human Capital Officer. "We want to empower them to be their best selves while also providing our customers with the best possible customer service, and we've learned that doesn't have to be from a corporate office."
Mercury team members quickly adapted to telecommuting during the COVID-19 pandemic, while still maintaining the company's high service standards.
"The world has changed and we're changing with it to meet the needs of our team members, customers and agents," said Sullivan Lopez. "This move will strengthen team member experiences and help us attract top talent while we continue to build an incredibly diverse workforce.
Mercury's My Workplace focuses on four areas that will make remote employment possible:
Strengthening Our Culture: Leadership will participate in learning sessions that will improve employee engagement in a digital environment.
Reimagining Our Spaces: Our offices will be transformed into collaboration spaces. Team members, whether at home or in office, will be supported with resources and equipment to further engage with fellow team members.
Communication and Collaboration: We will continue to develop resources and provide tips to enhance connections between fellow team members and customers.
Focusing on Wellbeing: Work-life balance will remain a core emphasis by helping team members achieve equity between personal and professional responsibilities.
About Mercury Insurance
Mercury Insurance (NYSE: MCY) is a multiple-line insurance carrier predominantly offering personal auto, homeowners, renters and commercial insurance through a network of independent agents in Arizona, California, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as auto insurance in Florida. Mercury writes other lines of insurance in various states, including business owners and business auto, landlord, home-sharing, ride-hailing and mechanical protection insurance.
Since 1962, Mercury has provided customers with tremendous value for their insurance dollar by pairing ultracompetitive rates with excellent customer service. Mercury has earned "A" ratings from A.M. Best and Fitch, as well as ranking highest in the J.D. Power 2021 U.S.
Milliman | November 18, 2021
Milliman, Inc., a premier global consulting and actuarial firm, announced that it has released the latest version of its Arius® insurtech solutions, a family of state-of-the-art reserve analysis systems for property and casualty insurers. This update provides significant enhancements to the systems' analytical, reporting, and data management tools.
This release provides tools to help actuaries and insurance analysts more easily build and share statistical exhibits among multiple projects, providing more consistent analysis and more efficient management review. It also adds new reports to help users with Canadian and IFRS-17 reporting requirements.
Arius® insurtech solutions is a family of state-of-the-art reserve analysis systems for property and casualty insurers
In addition, the release includes new API capabilities, additions to the system's role-based security options, and enhanced controls related to editing and managing data files, both in the Arius Enterprise system and in the Triangles on Demand data management solution.
"Our goal with the Arius solutions is to relieve the burden of managing the overall reserving process from our clients' shoulders, so they can spend their valuable time helping and advising their business. This release furthers those efforts with additional steps to enhance the overall efficiency and reliability of the actuarial reserving team."
- Ken Scalf, reserving products manager at Milliman
About the Arius family of solutions
The Arius solution set includes Arius Deterministic, Arius Stochastic, Triangles on Demand®, and Arius Enterprise. Arius Deterministic and Stochastic are self-contained reserve analysis systems that eliminate the potential spreadsheet risk inherent in tools developed in-house by many insurance actuarial teams. Triangles on Demand (ToD) uses the latest cloud technology to instantly aggregate millions of records of loss and claims data on the fly for review in Arius. Designed specifically for large insurance carriers and self-insureds, Arius Enterprise combines the Arius analysis system and ToD with sophisticated Microsoft Azure-based project, user, and reporting management solutions to address the added efficiency and reliability requirements of sophisticated reserving departments. Milliman's Claim Variability Benchmarks provide benchmark statistics for comparison with an insurer's own data, drawn from statistical analysis of 5,100 companies and over 30 years of activity.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.
Marsh | June 08, 2020
Marsh announced the launch of Marsh deliveryPRO that enables businesses to meet the increased demand for same-day delivery of their products more efficiently.
Marsh has collaborated with AXA XL and mobility data and analytics company Arity to create Marsh deliveryPRO.
With deliveryPRO, Marsh clients can purchase a minimum of $500,000 in exclusive third-party bodily injury and property damage auto liability capacity from AXA XL.
Marsh, the world’s leading insurance broker and risk advisor, today announced the launch of Marsh deliveryPRO, a customizable insurance solution that enables US businesses to meet the increased demand for same-day delivery of their products more efficiently.
Many grocers, delivery network companies, retailers, restaurants, and other businesses are using individual drivers as employees or in a “gig” independent contractor capacity to meet the surge in demand for delivery during the COVID-19 pandemic. In these cases, the drivers’ own vehicle is used. Current commercial auto liability insurance for such delivery can be difficult to secure and is often based on outdated models like prior year revenues, resulting in inefficient pricing.
Read More:Insurtech Leaders Partner To Provide Independent Agents With Tailor-Made Business Solutions
To address these issues, Marsh has collaborated with AXA XL and mobility data and analytics company Arity to create Marsh deliveryPRO, an innovative usage-based, price-by-mile insurance solution that allows businesses to pay only for the coverage they need.
With deliveryPRO, Marsh clients can purchase a minimum of $500,000 in exclusive third party bodily injury and property damage auto liability capacity from AXA XL in excess of a minimum $500,000 self-insured retention for their hired and non-owned delivery exposures.
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The policy acts as primary auto coverage when the driver is on an active delivery, as tracked by the deliveryPRO platform powered by Arity or other existing technology. Premiums are based on the number of miles driven for the delivery, allowing insurance costs to scale with a business’ growth. Pay-per-claim third-party claims administration services and claims consulting also are available.
Many businesses have had to ramp up their existing delivery services or convert from in-person sales to on-demand deliveries overnight as a result of the global pandemic. Even when the crisis is over, last-mile delivery will likely continue to grow, With Marsh deliveryPRO, businesses can access usage-based insurance, pay only for what they need, and meet the surge in demand for delivery.
- Robert Bauer, Head of Marsh’s US Sharing Economy and Mobility Practice.
Chris Kopser, AXA XL President of Global Risk Management, said: “AXA XL is committed to providing tailored solutions that address emerging risks, particularly in the sharing economy and mobility space. Our relationship with technology innovators and strong distribution firms like Arity and Marsh respectively, empower us to help address the evolving needs of our clients.”
Our expertise in mobility data analytics enables us to understand how someone behaves while behind the wheel, whether it’s for a delivery or personal use. This gives businesses greater control and the ability to work with and employ delivery drivers directly. Arity is proud to play a part in providing groundbreaking solutions that allow businesses to quickly adapt and effectively manage their insurance costs while giving individual drivers protection when making deliveries with their vehicles.
- Gary Hallgren, President of Arity.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman.