Proposed flood resilience strategy gains insurance industry backing

Insurance Business America | May 10, 2019

Flood resilience for all infrastructure by 2050 – that is part of the vision set out by a new flood and coastal resilience strategy which has been welcomed by the likes of Flood Re. Launched by Environment Agency (EA) chair Emma Howard Boyd in London, the long-term strategy for England outlined the need not only for an average of £1 billion to be invested annually in traditional flood and coastal defences and natural flood management but also for consistent standards for flood and coastal resilience nationwide. An eight-week consultation on the strategy, whose recommendations include requiring flooding and coastal change projects to support local economic regeneration, has been opened. Based on the responses, the Environment Agency will come up with a final document that will be laid before Parliament in winter 2019. Commenting on the initiative, Flood Re chief executive Andy Bord said in a statement: “Flood Re welcomes the Environment Agency’s new long-term strategy to tackle flooding and coastal change which aligns with our own long-term goals and plans.

Spotlight

The insurance industry is feeling the impact of high inflation. Supply shortages and higher material prices have been raising insurer repair and replacement costs and increasing the severity of losses on auto and homeowner insurance claims. Interchange fee increases, rising labor costs, and fuel price hikes are only adding to carriers’ financial pressures.

Spotlight

The insurance industry is feeling the impact of high inflation. Supply shortages and higher material prices have been raising insurer repair and replacement costs and increasing the severity of losses on auto and homeowner insurance claims. Interchange fee increases, rising labor costs, and fuel price hikes are only adding to carriers’ financial pressures.

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HEALTH INSURANCE

Digital-First Health Insurance Provider Angle Health Is Expanding in Indiana

Angle Health | November 18, 2022

Angle Health, the digital-first, full-stack health insurance company bringing transparency, simplicity, and ease of use to members, employers, and brokers, announced today it is expanding in Indiana. Powered by its integrated, AI-enabled technology platform, Angle Health provides a digital-first navigation experience with fully tailored, comprehensive healthcare benefit plans for employers. Telemedicine, behavioral health, and other digital health solutions – normally sitting outside of the traditional health insurance environment – are core offerings integrated into Angle Health plans at minimal to no cost for members. "We built Angle Health from the ground up to fundamentally change how people interact with the healthcare system and ensure that access to modern healthcare services isn't limited by a lack of time or understanding of the system, We could not be more excited to announce that access to Angle Health and our digital-first experience will be available to thousands more employers and brokers and millions more members across Indiana." -Ty Wang, co-founder and CEO of Angle Health Catering to more than 529,456 small businesses, 99.4% of all of businesses in the state, Angle Health is bringing its unified health benefits services to Indiana-based employers, brokers, and members, as follows: For Members Personalized, mobile-first member engagement: Angle Health meets members wherever they are on their journey. Angle's chat-first mobile app is a true partner in care. Whether a member has a question about the providers in the network, service costs, or how to navigate a medical concern, Angle Health is always there to remove the burden of access and navigation. Access to board-certified physicians, psychiatrists, psychologists, and therapists is always available, anytime and anywhere. On-demand pharmacy benefits are offered through a broad network of pharmacies alongside convenient options for home delivery. Concierge clinical management: The Angle Health clinical teams guide members on their everyday health questions, including acute and chronic needs, with one-on-one clinical support. Angle nurses prioritize a multidisciplinary approach, ensuring an individualized, tech-forward clinical wellness experience. For Employers and Brokers Fully customizable benefits packages to meet the needs of each employer and their employees Instant quoting and competitive pricing across its level-funded solutions Streamlined plan administration, delivering seamless employee enrollment and engagement, fully integrated with benefits administration and payroll Angle Health's level-funded solution gives our employer customers the benefits and flexibility of an independent TPA, with the predictability and seamlessness we have come to expect from national carriers, Their instantaneous quoting cuts, and in some instances eliminates, the standard 10-day turnaround quote window,Eric Dreyfus, Senior Vice President at Assured Partners, broker partner of Angle Health. Serving small and growing businesses and technology startups and scaleups alike, Angle Health is on a mission to democratize access to healthcare by bringing choice, affordability, transparency, and tailored health and wellness solutions to modern employers and their employees. Co-founded by former Palantir engineers, CEO Ty Wang and CTO Anirban Gangopadhyay, Angle Health was born out of the duo's frustration with their personal healthcare experiences. About Angle Health Angle Health democratizes access to modern healthcare by unifying today's fragmented healthcare benefits system into one core coverage and delivery platform. As a full-stack healthcare benefits provider, Angle Health drives efficiencies across the value chain through its digital-first platform—from instant underwriting for brokers and streamlined administration for employers to personalized care navigation for members. With access to a national network of healthcare providers and facilities, Angle Health is the health benefits provider for modern employers, now servicing thousands of employees and members across the country.

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INSURANCE TECHNOLOGY

Breeze Disability Insurance Platform Now Available to Appalachian Underwriters Network

Breeze and Appalachian Underwriters | September 05, 2022

Breeze, the insurtech simplifying how disability insurance is bought and sold, announced today a new partnership with leading insurance wholesaler Appalachian Underwriters, Inc. (AUI). Health-licensed agents and brokers partnered with AUI can now use Breeze's turnkey disability insurance platform to rapidly scale income protection sales. Breeze's proprietary technology makes it possible to quote disability insurance in seconds and submit client applications in minutes – entirely online. Breeze also handles case management, making this new partnership a low-strain, high-growth opportunity for AUI's partner agents. "Whether you're focused on home, auto, health or life insurance sales, income protection is a natural next conversation for agents and advisors. We're thrilled that Appalachian Underwriters has selected Breeze to power their disability income insurance offerings, and we look forward to supporting their agents," - Colin Nabity, CEO & co-founder of Breeze AUI has an impressive network of around 30,000 insurance agencies comprising roughly 70,000 agents. It was recently ranked the fifth largest MGA in the country by Business Insurance. We're extremely excited to partner with Breeze to continue our mission to support our agents and agency partners with diverse new product solutions and tools that increase efficiency, After seeing strong success with our recent entrance into the life insurance space, the partnership with Breeze is perfect to represent AUI's first voyage into the health market,said William Chambers, Director of Digital Partnerships at Appalachian Underwriters. With AUI already having strong commercial P&C and workers' compensation lines, disability insurance through Breeze should fit nicely into the wholesaler's newly-launched health business. Small business owners and employees could find financial peace of mind in disability insurance that protects their income against injuries and illnesses that happen on and off the job. Breeze currently offers two long-term disability insurance products, short-term disability insurance, and critical illness insurance. AUI's health-licensed agents and brokers can seamlessly and near-effortlessly offer any of these products to their clients via Breeze's simple online platform that uses predictive analytics to expedite underwriting. Despite the average employee being 3.5 times more likely to need disability insurance instead of life insurance during their career, just 14% of consumers own disability insurance due to an overly-complex application process that has kept both buyers and sellers away. Breeze has simplified disability insurance and is now uniquely-positioned to be the leader in an untapped market. The partnership with Appalachian Underwriters is a major step towards making disability insurance accessible for a range of workers. About Breeze Breeze is an online insurance broker simplifying how disability and critical illness insurance are bought and sold. Leveraging industry expertise and innovative technology, our team is building a better way to distribute income protection insurance for life's most financially vulnerable moments like cancer, depression, and bad accidents. Policies offered through Breeze replace a portion of a policyholder's regular income and can be used to help with large medical bills, mortgage payments, groceries, and more. Breeze currently offers long-term disability insurance, short-term disability insurance, and critical illness insurance. About Appalachian Underwriters Appalachian Underwriters, Inc. (AUI) is a full-service MGA and wholesale insurance brokerage, providing independent agents a national outlet to multiple specialized markets for workers' compensation, commercial, life, and personal lines of insurance. Appalachian Underwriters is wholly owned by Acrisure, LLC.

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INSURANCE TECHNOLOGY

Commercial Submissions recognized for insurance technology innovation

Vertafore | October 06, 2022

Vertafore®, the leader in modern insurance technology, today announced its Commercial Submissions™ solution has been recognized for technology innovation by the NU PropertyCasualty360 Luminaries program. This industry-focused recognition program spotlights innovation by companies, people, programs, and practices that are modernizing and humanizing the P&C business. The platform was honored for automating and simplifying one of the industry's most time-consuming processes: quoting small commercial insurance. Honorees are selected by a panel of industry experts. In a September 2022 survey of 800 independent agents, Vertafore found that 65% of respondents said their agency would benefit from automated quoting for commercial insurance lines. However, less than one in ten said they had access to such technology. Commercial Submissions is delivering a game-changing experience for independent agents and the business clients they serve by: Connecting agencies and carriers in real-time, allowing the exchange of structured data and real-time quoting. Enabling real-time digital collaboration with clients to complete applications quickly and accurately. Prefilling information from Vertafore agency management systems and third-party sources to reduce redundant, manual data entry. The award reflects the platform's growing momentum. Vertafore also recently announced the latest carriers to join Commercial Submissions, bringing even more choice to the solution. "Commercial Submissions isn't technology just for the sake of innovation, it is about making it faster, easier and simpler for agencies and carriers to work together to deliver the coverage their clients need, We're honored that the platform is being recognized for helping to modernize and humanize market connectivity." -James Thom, chief product officer at Vertafore About Vertafore As North America's InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most. Vertafore's solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers.

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