Ahoy | June 09, 2022
Ahoy!®, the new digital insurance MGA for recreational boating, today announced the introduction of its industry-first technology-driven insurance product. Ahoy! was created by boaters for boaters, and it blends proactive, risk-reducing technology with its founders' extensive expertise of both boating and insurance to provide cutting-edge insurance products for the twenty-first century.
Ahoyinsurance !'s policies will be available directly and through agents in Michigan, Arizona, Ohio, Wisconsin, and Illinois, with plans to expand across the US in the coming months, thanks to a partnership with Spinnaker Insurance Company, a national property and casualty insurer rated A- (Excellent) by A.M. Best Company, and with backing from specialist reinsurers Greenlight Re and Topsail Re.
Traditional insurance firms have failed to adapt to the special needs of today's boater, and they frequently bundle boat insurance with other home insurance policies. Ahoymain !'s focus is on this underserved market, leveraging technology to help secure boaters' vessels and provide peace of mind, transforming what was traditionally considered as a reactive and protective asset.
Ahoyteam !'s is made up of naval veterans, insurance specialists, and seasoned high-tech leaders who have pooled their knowledge to build a comprehensive digital insurance product customized to boaters' specific needs. Ahoy! has also put together an advisory board that includes Matthias Weber, the former Chief Underwriting Officer of SwissRe.
A boat isn't just another piece of property, it's a lifestyle choice. It's where you create memories, where you escape to when you need a little serenity or the place to run to for some excitement. We're boaters, we get that, Ahoy! offers a new kind of boat insurance, not only insuring boats but providing technological tools that help boaters proactively avoid risk. Ahoy! gives boaters peace of mind knowing their needs and concerns are addressed by fellow boaters and they can rest assured that their treasured vessels will be protected and ready to enjoy at any time."
Ahoy! CEO and Co-Founder, Amit Nisenbaum.
Customers of Ahoy! receive an onboard smart boat kit that works in conjunction with a proprietary mobile app to provide advanced telemetry capabilities that help proactively decrease risk and avoid damage or injury, as well as a phone overboard protection insurance. The smartphone app will eventually contain a digital logbook and data collecting for future travels, as well as notifications such as grounding avoidance, theft recovery aid, and micro-targeted weather alerts and forecasts.
Millions of certified insurance brokers in the United States may now offer customised boating coverage to their customers faster and more readily thanks to Ahoy!, which is offered through independent agencies and directly online.
Lexisnexis | June 02, 2022
Flyreel, a Denver-based property insurtech that uses artificial intelligence (AI) and machine learning to enable self-service property inspections, which provide additional visibility into a property's interior and exterior to improve and automate new business and renewal underwriting and claims processes, has been acquired by LexisNexis® Risk Solutions, part of RELX. Flyreel will join the insurance division of LexisNexis Risk Solutions. This will add to the insurance data and analytics leader's current data assets and models for figuring out how risky a building's occupants and location are.
Flyreel employs unique computer vision technologies to walk a home or business owner through a thorough property scan using their smartphone. Consumers may easily capture interior and exterior property characteristics using the Flyreel app. The data is digitized, checked for accuracy, and sent directly to the workflows of insurance companies, so there is no need to visit the site.
Insurers need a modern solution for the home inspection process that reduces costs, gives them the insight they need to underwrite and improve loss ratios, and offers a convenient, intelligent customer experience, By combining Flyreel's innovative capabilities with our vast data analytics assets, we will create a transformative platform for property risk assessment that offers insurers comprehensive underwriting insights and more effectively identifies the properties that need inspections at renewal. The benefits are game-changing."
Bill Madison, CEO, Insurance, LexisNexis Risk Solutions.
Insurers can better figure out the right premium for each scanned property, improve loss ratios by identifying critical hazards up front, reduce premium leakage by capturing details about insurable assets, and simplify the inspection process to make property owners happier.
Flyreel's technology also provides a better customer experience by reducing scheduling issues, improving a consumer's understanding of their home or business hazards, and creating a record of their belongings in case of a future claim.
Hub International | August 05, 2022
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Bubrig Insurance Agency, Ltd. and its affiliate Blue Cedar Insurance, LLC (collectively, Bubrig Insurance Agency). Terms of the transaction were not disclosed.
Located in Belle Chasse, Louisiana, Bubrig Insurance Agency is an independent agency providing personal insurance solutions, including home, auto, flood, life and recreation.
"With Bubrig Insurance Agency, we will continue our growth in the region, We are enthusiastic about our future together, and we're confident that this partnership will create new opportunities for us."
-Shaun Norris, President of Hub Gulf South
Bill Bubrig, President, and the entire Bubrig Insurance Agency team will join Hub Gulf South.
Joining Hub is an attractive opportunity and gives us access to additional national resources and capabilities so that we can continue to provide the highest quality of service to our clients, said Bubrig.
About Hub's M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 14,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.