ProWriters adds CFC, At-Bay to cyber insurance comparative rating portal

insurancebusinessmag | June 26, 2019

ProWriters Insurance Services has revealed that it has added two more cyber insurance companies -MGA CFC Underwriting and insurtech At-Bay - to its proprietary Cyber IQ platform.The Cyber IQ platform, launched last November, allows brokers and agents to immediately compare quotes from multiple stand-alone cyber insurance carriers. It was launched in partnership with Axis, Chubb, Hiscox, and NAS Insurance Services - which is now a Tokio Marine company.

Spotlight

Most roofing systems are designed to withstand even the most severe weather and strongest impacts. Unfortunately, Mother Nature is an unpredictable force, and sometimes your roof is in the receiving end of its wrath. Hail damage may be one of the most common yet depressing problems that severe weather can cause for your roof. While hailstorms might not be the worst natural disaster that you can imagine to happen to your property, these tiny ice balls can cause a surprising amount of long-lasting damage on your roof.

Spotlight

Most roofing systems are designed to withstand even the most severe weather and strongest impacts. Unfortunately, Mother Nature is an unpredictable force, and sometimes your roof is in the receiving end of its wrath. Hail damage may be one of the most common yet depressing problems that severe weather can cause for your roof. While hailstorms might not be the worst natural disaster that you can imagine to happen to your property, these tiny ice balls can cause a surprising amount of long-lasting damage on your roof.

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Next Insurance Partners with Intuit QuickBooks to Simplify the Insurance Purchasing Process for Small Businesses.

Cision PR Newswire | October 22, 2020

Next Insurance, the fastest growing digital insurtech company transforming small business insurance and Intuit Inc.Today announced that they have teamed up to simplify the insurance purchasing process for millions of small businesses. This integration will enable QuickBooks users to seamlessly obtain a customized quote and easily purchase General Liability, Professional Liability and Workers' Compensation coverage from Next Insurance with a few clicks of a button, directly from their QuickBooks account. Next Insurance's simple, online application process allows QuickBooks subscribers to obtain tailored insurance coverage alongside their financial data, creating one cohesive experience.

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INSURANCE TECHNOLOGY

Azentio Software Acquires Specialist Insurance Technology Firm Beyontec

Azentio Software | July 02, 2021

Azentio Software, a Singapore-based software products company owned by Apax Funds, is pleased to announce the signing of a binding agreement to acquire Beyontec, a leading insurance technology company. The acquisition is conditional to the obtaining of all relevant regulatory approvals. Beyontec employs over 300 people and serves over 65 customers in the United States, the Middle East, and Africa. The company provides a complete set of cloud-based accelerator tools and a core multi-line insurance administration system, and digital platform-based ecosystem solutions for the insurance sector. Azentio's customer base and product suite will be expanded as part of the acquisition to become the leading banking, financial services, and insurance-led technology product business in high-growth markets. Azentio and Beyontec have significant synergies, enabling Azentio to provide a complete insurance product and end-to-end insurtech solutions for General, Health, Life, and Commercial insurance. In addition, the acquisition enables significant scale benefits and investments in next-generation insurance technology solutions. In this transaction, Houlihan Lokey served as Beyontec's only financial advisor. Beyontec's legal advice was Katten Muchin Rosenman LLP. The company's legal counsel was Kirkland & Ellis LLP. About Azentio Azentio Software is a newly formed company in 2020 formed out from 3i Infotech, a global information technology company. Azentio Software offers mission-critical, vertical-specific software products to customers in the banking, financial services, and insurance industries, including critical products such as Kastle (universal banking platform), AMLOCK (compliance software suite), Premia Astra (core insurance software), Orion (enterprise resource planning software), and MFund Plus (asset management platform). Azentio has over 700 clients in more than 48 countries and a strong team of over 1,600 people spread throughout 9 locations worldwide. About Beyontec Beyontec Solutions is an insurance solution provider specializing in general insurance, takaful, life insurance, medical insurance, and insurance broking. Beyontec's varied insurance expertise and knowledge have allowed it to develop transformational solutions that combine the best insurance practices worldwide. These include the Beyontec Suite, a core insurance administration solution, specialized accelerator tools, and a set of industry platform solutions.

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INSURANCE TECHNOLOGY

Invoice Cloud Assists the Insurance Industry in Accelerating Digital Transformation

Invoice Cloud | March 17, 2021

Invoice Cloud, an EngageSmart answer for online bill payment services, today reported huge development in the insurance industry, having marked 150 insurance clients in three years. Invoice Cloud presently serves clients in large commercial and personal lines, laborer's compensation, farm bureaus, medical malpractice, regional carriers, and managing general agents (MGAs)— supplanting significant contenders more than 40 times. The previous year brought a restored push for advanced change in the insurance industry as a worldwide pandemic challenged insurers to communicate, service and process manual payments, and to win new business. All must be managed without taking a chance with the wellbeing and prosperity of workers acquainted with an in-person working model. With mail frameworks under huge tension in the midst of extreme climate occasions and a critical expansion in volume, the requirement for protected, productive, easy to use computerized payment choices has additionally skyrocketed. People and independent ventures have been under colossal monetary pressure with worldwide disturbance and a financial plunge at play, just enhancing the requirement for disentanglement of payments. Invoice Cloud clients have encountered striking, substantial advantages from the stage. California Mutual, for instance, encountered a 151% expansion in e-appropriation and higher consumer loyalty, a 15x expansion in paperless enlistment, a normal diminishing of 15 hours of the week spent on payment compromise, and a lessening in sent payments, all inside a year of carrying out the Invoice Cloud arrangement. Invoice Cloud has additionally as of late marked two large clients in laborer's compensation insurance. The organization's work with carriers of laborer's compensation insurance shows the arrangement's top-rate customization abilities, as these clients frequently choose a pay-more only as costs arise plan rather than the basic level fee model utilized by most insurance organizations. About Invoice Cloud Invoice Cloud, an EngageSmart solution, is the leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping legacy institutions put customer experience first. By switching to InvoiceCloud, clients improve customer engagement, loyalty, and efficiency while reducing churn and missed payments in the process. With over 2,100 clients across the US and over 50 million payments processed annually, InvoiceCloud is one of the most secure, innovative, and inclusive fintech solutions in the market.

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