PR Newswire | September 21, 2023
NEXT Insurance, a leading digital small business insurer, today announced a differentiated new offering that will enable agents to fully customize coverage quotes to better meet the needs of their small business clients. NEXT's Coverage Builder represents a fundamental leap in allowing agents the ability to micro-tailor small business quotes for their clients, all while maintaining NEXT's superior instant bind capabilities. Coverage Builder is fast, easy to use, and tailored exclusively to agents pre-purchase, equipping them with the tools they need to select the appropriate limits and fully control the coverage they're quoting.
With Coverage Builder, agents can select their base policy limits, add or remove coverage or update limits post-purchase, all while benefiting from the convenience of instant underwriting and price updates. This saves agents valuable time and money, allowing them to make changes automatically without the need to pick up the phone and connect directly with an underwriter. NEXT's Coverage Builder offering furthers the company's commitment to its agents by providing a user-friendly and accessible digital quoting experience, 100% online. Coverage Builder is also available to all NEXT customers post-purchase, allowing small business owners to tailor their policies with immediate price updates and seamless policy management.
"NEXT's Coverage Builder feature is 100% hassle-free," said Cody L Slocum Lammers, Commercial Lines Agent & Broker at Affordable Insurance Solutions. "This new feature sets NEXT Insurance to a new level, above its competitors, as this allows agents the flexibility to customize policies to fit the needs of each individual small business. It's user-friendly and simple to understand- this is truly a game changer for NEXT Insurance agents!"
"Agents are the go-to insurance experts and know exactly the unique types of coverage small business owners need - that's why we're offering them the opportunity to customize policies for their clients instead of standardized coverage packages," said Jack Ramsey, Vice President of Agent Business at NEXT Insurance. "Now, with NEXT's Coverage Builder, we are empowering agents to instantly quote and easily customize and bind policies that will best serve their customers. As a result, small business owners will gain the peace of mind that they're only paying for the coverage they need to protect their business and livelihood."
NEXT's Coverage Builder offering comes on the heels of the company's launch of commercial umbrella/excess liability coverage to support small businesses in their entrepreneurial journey. The digital small business insurer also recently announced its integration with Ivans Download™ for General Liability and Workers' Compensation policies and its strategic hire of Jack Ramsey as the company's Vice President of Agent Business. These developments are further evidence of NEXT's commitment to agents and dedication to providing them with a smoother, more intuitive insurance purchasing process for small business clients.
If you're interested in working with an insurance agent through NEXT Insurance, visit our website to find an expert to help you get the right coverage at the best price.
About NEXT Insurance
NEXT Insurance is transforming small business insurance with simple, digital, affordable and tailored coverage. Trusted by over 480,000 business owners, NEXT offers policies that are easy to buy and provides 24/7 access to Live Certificates of Insurance, additional insured, and more. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and provide more affordable coverage. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $881 million in venture capital funding, is rated "A- Excellent" by AM Best and has been recognized by CNBC Disruptor 50, Forbes Fintech 50, Inc.'s Best-Led Companies, and Forbes Best StartUp Employers. For more information, visit NEXTInsurance.com. Stay up to date on the latest with NEXT on Twitter, LinkedIn, Facebook and our blog.
PR Newswire | October 03, 2023
NSM Insurance Group, a global specialty insurance provider with more than $1.6B in premium across 25+ niche insurance programs, today announced the completion of its acquisition of Envisage International. Based in Neptune Beach, Fla., Envisage is a leading provider of global health and travel insurance plans for international students and cultural exchange participants around the world.
"The travel insurance market is booming and will continue to grow at a rapid pace — with the industry predicted to reach $41B by 2027. We plan to seize this market opportunity and become a dominant player in the space," said Bill McKernan, President of NSM Insurance Group. "Envisage is a market leader in international education and cultural exchange insurance with a talented team, strong customer base, established revenue relationships and cutting-edge technology infrastructure. They are an enterprising addition to our portfolio as we look to build our footprint in the international health and travel insurance space."
Envisage offers a wide range of international health and travel medical insurance products through its two brands, International Student Insurance (ISI) and Envisage Global Insurance (EGI). ISI serves colleges, universities, ESL programs, study abroad programs, students, teachers and scholars with A+ rated plans and best-in-class resources. EGI is the leading provider of group insurance plans to organizations in the J1 cultural exchange and global youth travel market, offering unparalleled service and custom-built technology to its clients around the world.
"We're absolutely thrilled to join forces with NSM to help us continue to grow and scale the business," said Keith Clausen, President of Envisage International. "Over the last two decades, our dedicated and talented team has helped us grow into the force we are today, and we look forward to extending that growth with NSM. NSM has the prowess and proven track record to help ISI and EGI grow by expanding our distribution channels, further enhancing our technology platforms and expanding our global market reach."
Over the past 33 years, NSM has developed a winning formula for building the industry's most successful and sustainable insurance programs, consistently outperforming competitors and driving industry-leading growth and profitability over the last four years. This latest acquisition complements NSM's robust portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance — backed by the company's state-of-the-art resources, including IT, operations, marketing, HR and finance.
For more information about NSM or for investment opportunities, please visit nsminc.com.
About NSM Insurance Group
NSM Insurance Group is a global specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.6 billion in premium across 25+ specialty insurance programs and brands around the world focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; general contractors; medical stop loss and managed care; staffing; and workers' compensation. For more information on NSM, visit nsminc.com.
About Envisage International
Envisage International Corporation specializes in international health and travel insurance under its two key brands, International Student Insurance (ISI) and Envisage Global Insurance (EGI). With more than 20 years of experience, we take a consultative approach to helping our clients understand their insurance needs, creating customized solutions and providing support every step of the way. With offices in the United States, Mexico, China and Europe, Envisage is well placed to help organizations around the world with their international insurance needs. You can find more information about Envisage, ISI and EGI at envisageinternational.com
PR Newswire | October 19, 2023
Acturis, the leading technology provider to the general insurance industry, has partnered with Customer Lifecycle Intelligence platform FullCircl to integrate its SmartBroker solution into the platform in order to deliver a rich, contextualised, and connected data solution for brokers, insurers, and MGAs. The SmartBroker API integration will provide next generation data enrichment to Acturis users proven to drive growth, improve decisioning, and enhance compliance.
Recent research has highlighted a persistent level of doubt when it comes to broker and insurer trust in data. This has significant knock-on impacts when tackling many of the biggest challenges facing the industry - onboarding speeds, underwriting accuracy, underinsurance, personalised customer journeys, risk and fraud reduction, and meeting compliance duties. By integrating FullCircl SmartBroker into the Acturis platform brokers and insurers can:
Efficiently identify and win new customers
Save time and pre-populate forms in Acturis with validated data
Run screening and onboarding checks
Enrich customer data to save time and improve underwriting submissions
Improve in-life monitoring for personalised experiences, elevated renewal rates, and expanded upsell opportunities
Improve customer outcomes and comply with the Consumer Duty
Speaking about the partnership Tony Goddard, CEO of Acturis commented: We're always looking for new ways to enhance how our customers write more business and ensure the trading experience is accurate, efficient, and effective. Integrating with FullCircl is another opportunity for us to elevate our platform and connect the insights brokers need, when it matters most.
Andrew Yates, CEO and Co-Founder at FullCircl said: "This integration has been driven by demand from our shared customer base. We've worked together to provide users with a connected solution that will provide meaningful opportunities to drive growth. We believe brokers, insurers and MGAs are better with data, and this integration makes data enrichment more accessible. We're delighted to announce this partnership so quickly after the launch of our SmartBroker solution and exclusive facility for BIBA members. It's an exciting time for us, and for our customers in the insurance sector."
Phil Barton CEO at Partners&, collaborators in the integration, expressed his excitement at the launch commenting: "I am delighted to see the integration of Acturis and FullCircl being announced. As a partner of both firms, and a business committed to intelligent use of technology, we could see the natural synergy in this integration, and the potential added value for our business. I am pleased to have played a role in influencing the development of this valuable proposition for the broking community."
FullCircl is a Customer Lifecycle Intelligence (CLI) platform that connects the insight you need, when it matters most.
Its software, delivered through a platform, API, and suite of applications, is used to identify and acquire customers, verify entities and assess risk to accelerate onboarding, and retain and grow customers by delivering proactive account management.
FullCircl identifies millions of actionable insights daily on entities from 160 countries, providing a near real-time record of companies, their officers and shareholders, and the relationships between them. FullCircl improves commercial effectiveness while empowering businesses to satisfy regulatory requirements and make informed decisions about their customers.
FullCircl was formed following the merger of Artesian Solutions and DueDil and is backed by top tier investors including Octopus Investments, Notion Capital and Augmentum Fintech. In 2023, FullCircl acquired W2 Global Data Solutions, strengthening its KYC, AML and identity verification capabilities. Today, it serves 700+ customers, 15,000+ users, processes over 300 million onboarding and monitoring transactions per month and facilitates the onboarding of 200,000+ customers annually.
Acturis is the leading, award winning Software-as-a-Service provider to the insurance industry.
Founded in 2000, we have grown exponentially over the past 20 years. To date, more than 100,000 individuals, in over 40 countries, use Acturis solutions to power their business. We drive innovation in both personal and commercial lines by working closely with brokers, insurers, and MGAs. Our work has helped create and shape the insurance market of today.
The Acturis Group includes Acturis SaaS, Nordic Insurance Software (NIS), ICE InsureTech, Broker Buddha, Acturis Deutschland, Acturis France and Acturis Canada.