INSURANCE TECHNOLOGY

Paragon Adopts CyberCube’s Broking Manager as its Cyber Analytics Tool

Business Wire | October 26, 2020

Paragon Adopts CyberCube’s Broking Manager as its Cyber Analytics Tool
Paragon International Insurance Brokers has partnered with CyberCube to roll out Broking Manager, CyberCube’s market-leading cyber risks analytics platform for insurance intermediaries. Broking Manager will allow Paragon’s teams to quantify the sources and financial impact of cyber risk exposure and educate clients accordingly. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking. Pascal Millaire, CEO of CyberCube, said: It’s extremely exciting that Paragon has chosen to adopt Broking Manager as its cyber analytics tool. This is a forward-thinking business that’s clearly taken a long, hard look at both its and its clients’ cyber needs. We are looking forward to working with Paragon and developing the insights Broking Manager can deliver for its team.

Spotlight

The stage is set for the continuation of an active insurance industry M&A environment in 2019. Sustained US economic growth, rising interest rates, and higher investment income are among the positive factors bolstering insurance companies’ results in 2018 and positioning them for enhanced top- and bottom-line growth in 2019.

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CLAIMS

Genpact Joins the Guidewire PartnerConnect Solution Ecosystem

Guidewire | July 30, 2021

Guidewire Software, Inc., the platform that property and casualty insurers rely on to engage, innovate, and grow efficiently, announced today that Genpact, a firm focused on delivering digital transformation, including deep expertise in claims processing, has joined Guidewire PartnerConnect as a Solution partner. In addition, the companies announced that Genpact's new Ready for Guidewire certified add-on is now available in the Guidewire Marketplace for insurers. Genpact supports the insurance sector by transforming business processes through digital-led innovation and digitally-enabled intelligent operations. The company acts as a transformation partner for insurers across the world; its solutions span the entire claims lifecycle to create strategic business impact while also delivering positive claims experiences for policyholders and cost-effective claims processing with shorter cycle times. The Ready for Guidewire add-on from Genpact links ClaimCenter users to Genpact Claims Manager for digital inspection and adjudication. Virtual inspections, self-service inspections, and a complete suite of field services, including managed repairs, are all possible with Genpact's technology. Insurers can use Genpact's Claims Services add-on to: Create and assign claims to Genpact instantly and automatically for claims processing. Directly access claim status updates within ClaimCenter; Send and receive notes and documents related to the claim with ease to and from Genpact; and Reduce claims cycle times and free up claims experts to concentrate on the entire claims process and policyholder experience to improve customer satisfaction. About Genpact Genpact is a global professional services firm that helps companies transform. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience reinventing processes for hundreds of clients, many of whom are Global Fortune 500 companies, and guided by our purpose – the relentless pursuit of a world that works better for people. We connect every dot, reimagine every process, and redefine the ways companies work — from New York to New Delhi and more than 30 countries in between – because transformation happens here. About Guidewire Software Guidewire is the platform that P&C insurers rely on to engage, innovate, and grow efficiently. We integrate digital, core, analytics, and AI to offer our platform as a cloud service. Guidewire is used by over 400 insurers, ranging from start-ups to the world's biggest and most complex. As a partner to our clients, we are constantly evolving to assist their success. We are proud of our unmatched implementation track record, with 1,000+ successful projects backed by the industry's biggest R&D team and partner ecosystem. As a result, hundreds of applications are available in our marketplace to help with integration, localization, and innovation.

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CORE INSURANCE

Hub International Acquires Assets of The Olson Insurance Agency LLC And Insure All LLC

Hub International Limited | November 03, 2020

Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the insurance brokerage assets of The Olson Insurance Agency LLC (The Olson Agency) and Insure All, LLC (Insure All). Terms of the transaction were not disclosed. The owner of The Olson Agency and Insure All, Max Olson and Michael Forney, respectively, were each previously part of Nationwide Mutual Insurance Company's (Nationwide) exclusive distribution model and recently transitioned to independent brokers. Both The Olson Agency and Insure All provide personal and commercial insurance services, including home, auto, life and business. The agencies are based in the following cities in Virginia: The Olson Agency in Springfield, Arlington and Woodbridge; and Insure All in Stanley.

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Benefitfocus launches website to provide options for displaced workers

Benefitfocus | April 24, 2020

Technology provider Benefitfocus has announced the next phase of its recently launched “For You” initiative, which supports employers of customers who have lost their jobs due to the economic impact of the COVID-19 outbreak. The company has launched benefitplace.com, a website that allows users to access a variety of affordable individual and family health plans for employees who have been offered COBRA by their employers but are seeking lower-cost alternatives. The site also offers other products and services to support the wellbeing of displaced workers. “Connecting America’s workforce to the products and services that improve their health and financial wellbeing is at the core of what we do, and this is more relevant today than perhaps any time in the last 50 years,” said Ray August, president and CEO of Benefitfocus. “We are in a period of severe economic crisis, and many workers fear for their continued health and other benefits coverage. With the launch of benefitsplace.com we’re here for our customers’ employees and their families to continue access to affordable and quality options.”

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Spotlight

The stage is set for the continuation of an active insurance industry M&A environment in 2019. Sustained US economic growth, rising interest rates, and higher investment income are among the positive factors bolstering insurance companies’ results in 2018 and positioning them for enhanced top- and bottom-line growth in 2019.