North P&I Club shares COVID-19 tracker

North P&I Club | April 15, 2020

Global marine insurer North P&I Club has developed a new COVID-19 tracking tool. North has made the tool available as a shared resource to the International Group of P&I Clubs. The tool was first released by North in February. It details the extent of the COVID-19 outbreak and the response measures that have been introduced in a single digital dashboard, including country- and port-specific advice for shipowners, charterers, operators and others, North said. The tool utilizes information provided by IG club correspondents across the globe, as well as the International Maritime Organization and the World Health Organization. The tool also uses data from Wilhelmsen Ship Management and ship agency company GAC. The dashboard includes a continuously updated map of the outbreak’s spread from Johns Hopkins University.

Spotlight

Healthcare is one of the top issues voters want President-elect Trump to focus on in his first year in office. Making prescription drugs more affordable is the number one policy priority while the replacement of the Affordable Care Act is completely on the table.

Spotlight

Healthcare is one of the top issues voters want President-elect Trump to focus on in his first year in office. Making prescription drugs more affordable is the number one policy priority while the replacement of the Affordable Care Act is completely on the table.

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INSURANCE TECHNOLOGY

Advisor360° Introduces New Beneficiaries Capability for Insurance Policies

Advisor360° | July 05, 2022

Advisor360°, a Software as a Service (SaaS) provider of integrated technology for the wealth management industry, today announced a significant cross-product enhancement to its existing Beneficiaries capability. Financial advisors are now able to see and report on their clients’ beneficiaries on insurance products, in addition to custody and investment accounts, in a single view. “Having consolidated beneficiaries reinforces Advisor360°’s leadership position in providing cross-product support and solutions to broker-dealers, advisors, and their clients,” said Patrick Noonan, Product Manager for Wealth Management and Insurance at Advisor360°. “With our latest enhancement, it has never been easier for advisors to guide clients on necessary updates to their intended heirs and beneficiaries, which is a critical part of estate planning.” The improved functionality integrates beneficiaries across all investment products, including insurance and annuities, eliminating the need to visit multiple websites. Advisors can efficiently view and report on primary, secondary, tertiary, and custom beneficiary arrangements for policies that are in effect and those that are pending. This streamlines meeting preparation and allows advisors’ clients to see all of the beneficiary information for their investments in a single view. “On the heels of rolling out Digital Onboarding, today’s announcement is further proof of Advisor360°’s commitment to developing and delivering the very best in cross-product capabilities. We believe continuous innovation is part of our responsibility to existing and future clients,” said Darren Tedesco, President of Advisor360°. “On the heels of rolling out Digital Onboarding, today’s announcement is further proof of Advisor360°’s commitment to developing and delivering the very best in cross-product capabilities. We believe continuous innovation is part of our responsibility to existing and future clients,” said Darren Tedesco, President of Advisor360°. Advisor360°’s insurance and wealth management capabilities are already the most sophisticated on the market, and the company plans to offer new features later in 2022 to remove even more technological hurdles that broker-dealers must overcome to remain competitive. About Advisor360° Based in Weston, Massachusetts, Advisor360° is a Software as a Service (SaaS) provider that builds, integrates and delivers technology for wealth management firms. The company’s proprietary Unified Data Fabric™ (UDF) synthesizes complex and disparate data streams into one platform for a highly sophisticated wealth planning solution. Today, 3 million households with $1 trillion in assets under advisement benefit from the integrated Advisor360° experience. Whether the enterprise back office, the client-facing advisor or the individual investor, Advisor360° brings clarity to all stakeholders seeking a holistic approach to managing household wealth. Advisor360° launched as an independent company in 2019 and was named the second largest fintech company in Massachusetts by The Boston Business Journal in 2021. To learn more, visit www.advisor360.com.

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INSURANCE TECHNOLOGY

Balance Re Raises $10m Series A Investment led by Anthemis Group

Balance RE | September 01, 2021

Balance Re, the life reinsurance start-up specialised in quantitative asset-liability management, today announced it has raised $10m in Series A funding from leading financial services investor Anthemis Group, with participation from Global Brain and the company's existing investors, Roland Berger Industries GmbH and Talabot Finance. Balance Re offers comprehensive reinsurance solutions to life insurance companies and pension funds to support capital management related to their retirement and saving products. The Series A investment will be used to further develop Balance Re's proprietary asset-liability management technology and to support its fully licensed German reinsurance company based in Cologne. In Balance Re's launch market, Germany, Solvency II's transitional measures represent on average ca. 150 percentage points of life insurers' solvency capital ratios. Balance Re's technology-first and data-driven approach to reinsurance instead enables its clients to release capital to fund growth, support product repositioning and improve (or regain) a competitive advantage. Thanks to real-time risk management capabilities, Balance Re is the first reinsurer able to offer to its clients easy-to-implement and cost-efficient reinsurance solutions which transfer the challenging interactions of financial and insurance risks. Balance Re's new shareholders, Anthemis and Global Brain, bring in-depth knowledge of the insurance sector and expertise in technologies dedicated to the financial industry, ideally complementing the experience of Balance Re's initial investors rooted in investment management and corporate strategy. Lucian Rautu and Michel Gauer, the founders of Balance Re, commented: "We are delighted to welcome Anthemis and Global Brain in the capital of Balance Re and at the Board. Their deep industry knowledge and capacity to take an "outside-of-the-box" approach to venture investments in the insurance space make them the perfect partners to disrupt the life reinsurance market". Matthew Jones, Managing Director at Anthemis, said "Balance Re's team and their technology reflect the complex interactions between actuarial, financial, accounting and regulatory matters. Balance Re's coverage is designed to help clients reach their strategic goals whilst also keeping the interests of their policyholders in mind – we're excited to see them drive much-needed change in the life reinsurance sector." Naoki Kamimaeda, Partner at Global Brain, said "We believe that the technology developed by the Balance Re team has far reaching applications beyond life reinsurance and Europe. We are enthusiastic to join them at this important stage of the journey and look forward to helping them realise their vision to improve the management of long-term insurance and pension liabilities globally." About Balance Re Balance Re tackles one of the most fascinating problems of life insurance: managing the complex interactions between insurance and financial risks. These problems exist in a multifaceted environment spanning actuarial, financial, accounting, and regulatory matters. To operate at the crossroad of so many fields, Balance Re takes down the cultural silos between insurance, investment, and technology to blend the expertise required to solve its clients' needs for truly comprehensive risk transfer. About Anthemis Anthemis cultivates change in financial services by investing in, growing, and sustaining businesses committed to improving the world. We are founded on three guiding principles — authentic collaboration, virtuous cycle outcomes, and diversity and inclusivity and our deep understanding of markets and models, passion for emerging technology and values inspire everything we do. By creating fertile ground for a diverse group of start-ups, investors, entrepreneurs, institutions, academics, and visionaries to converge, we believe we can solve the financial services world's most pressing challenges faster, better and for the benefit of all. About Global Brain Global Brain is an early-stage venture capital firm based in Tokyo. It supports start-ups that tackle pressing problems, create innovation, and contribute to the stimulation of the Japanese economy and beyond. Its high-achieving, experienced professionals identify excellent start-ups through multiple global locations in Europe, US and APAC, and provide hands-on growth support. Global Brain's total asset under management is over US$1 billion, making it the largest domestic independent venture capital firm.

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INSURANCE TECHNOLOGY

Westland Insurance Acquires Digital Brokerage Nuera Insurance

Westland Insurance | July 09, 2021

Westland Insurance Group Ltd. is delighted to announce the acquisition of Nuera Insurance, a digital brokerage, effective July 1, 2021. Calgary-based Nuera Insurance is a national pioneer in the development of digital insurance experiences and value-added partnerships. It provides customers with an easy-to-use and rewarding online insurance-buying experience, as well as expert assistance. Clients benefit from its relationships with well-known companies, and its collaborations with property management, real estate, and mortgage experts ensure a smooth experience for renters and homeowners. “With the acquisition of Nuera Insurance, Westland becomes Canada’s leading digital tenant insurance provider,” says Jamie Lyons, President and Chief Operating Officer of Westland. “We are already pleased to work with rental property managers throughout Canada via our Zipsure platform to ensure that their residents are insured and to offer useful data to assist them in managing risk. The combined power of these two brands puts us in a great position to continue innovating and adding value in that space.” “I am proud of the experience that Nuera provides to both its customers and partners,” says Nuera Insurance owner Braden Bosch. “I am confident that Westland has the scale, innovative culture, and digital focus to carry Nuera’s exciting trajectory forward.” About Westland Insurance Group Westland Insurance Group is Canada’s biggest and most rapidly expanding independent property and casualty insurance broker. The company’s nationwide presence of more than 170 sites and over 2,000 employees continues to grow from coast to coast. Westland’s brokers provide expert advice to clients seeking a home, business, farm, life, and auto insurance. Westland has been a family-owned company dedicated to helping its local communities since its inception in 1980.

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