CORE INSURANCE, INSURANCE TECHNOLOGY
PCF Insurance Services | February 02, 2023
On February 1, 2023, PCF Insurance Services informed that it has acquired Oak Point Risk Advisors, a risk management and insurance agency for the construction, gas, oil, and maritime industries, to expand its capacity.
This integration will bring a collaborative experience, an extended relationship with local clients, and accelerated coverage, pricing, and financial solutions for unique business risks. The reason behind its success is its data-driven strategies, innovation, standard practices, entrepreneurial mindset, strong local relations, and best customer experience. Its Agency Partners will harness its strong market, shared services, and more possible solution choices for clients.
Founder, Chairman, and CEO of PCF Insurance, Peter C. Foy, said, "We are excited to welcome Oak Point Risk Advisors to our PCF Agency Partner network." He further added, "Oak Point is a growing agency with a unique and deep understanding of the risks businesses along the Gulf Coast face, and their expertise in mitigating risks in the hazardous industries that they serve will be invaluable to our partner network."
(Source – Cision PR Newswire)
President of Oak Point Risk Advisors, Ronny Sternfels, said, "At our very core, Oak Point Risk Advisors is a client service organization that prides itself on being a trusted advocate for our clients." He further added, "By joining the PCF Agency Partner network, we are empowered to build upon and expand our risk management and insurance packages to protect the workforce and business continuity of our clients."
(Source – Cision PR Newswire)
About PCF Insurance Services
PCF Insurance Services is a brokerage, risk management, and insurance services company that, through its Agency Partner network, has provided unparalleled financial solutions to its clients since 1987. It works in the fields of travel insurance, captive insurance, transportation insurance, home and auto insurance, professional liability insurance, marine insurance, sports and entertainment insurance, risk management, cyber liability, employee benefits, general and excess liability insurance, agriculture and crop insurance, commercial insurance, natural catastrophe insurance, shared services, an insurance agency network, mergers and acquisitions, workers' compensation, property, casualty, and surety bonds.
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CORE INSURANCE, RISK MANAGEMENT
Inszone Insurance | March 08, 2023
On March 7, 2023, Inszone Insurance Services announced the conclusion of its acquisition of Donna Ledwick Insurance Services, previously owned and operated by Donna Ledwick. The move is part of Inszone Insurance's plan to increase its national reach and solidify its position as one of the best insurance companies in the United States.
Donna Ledwick expressed, "I'm excited to join forces with Inszone Insurance, which will enable us to better meet the demands of our clients in every way." She continued, "Inszone Insurance places great importance on serving each client, especially those with extremely specialized needs, which aligns perfectly with the values we hold dear."
(Source – Business Wire)
Chris Walters, CEO of Inszone Insurance Services, remarked, "Donna has been a strong leader in the insurance industry, and we are thrilled to have her on our team." "Our clients can expect the same personalized care they are used to, with the added benefit of extra resources offered by a larger agency. We look forward to working together to help streamline efficiencies, add resources, and continue expanding throughout the state," he concluded.
(Source – Business Wire)
Besides, Inszone Insurance Services is set to announce several high-profile acquisitions in the coming months. Even though the company has grown quickly, it is still committed to giving customers excellent nationwide service and new insurance options.
About Inszone Insurance Services
California-based Inszone Insurance Services has developed substantially in the insurance industry since 2002. It covers all 50 states, with offices in California, Arizona, Colorado, Utah, Nevada, Missouri, Texas, and Illinois. Inszone Insurance Services, which offers both personal and business insurance, has expanded by prioritizing customer satisfaction and agent-customer relationships. Its edge in the insurance industry comes from its professional, disciplined agents and its partnerships with many different carriers. The competitive benefits of these long-standing ties allow Inszone to use its expertise and access to provide actual value to its customers.
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CORE INSURANCE, RISK MANAGEMENT
Idelic | January 19, 2023
Idelic Inc. recently announced the launch of Idelic Insurance Agency, LLC, a technology-driven managing general agent (MGA) aimed at providing commercial fleets with tailored insurance coverage. The insurance pricing will reflect the fleets’ risk improvement by using the Idelic Program, a comprehensive approach to improving driver safety and reducing crashes.
Idelic Insurance Agency also aims to provide a modern approach to improving insurance outcomes by allowing fleets to use technology and processes to reduce losses. The insurance agency will price renewals based on the fleets’ successful adoption and results.
The Idelic Program consists of two major components: Safety Suite® and Driver Safety Playbook. Safety Suite® is the best driver performance management platform in the trucking industry. It collects driver risk data and uses machine learning algorithms to identify high-risk drivers. Meanwhile, the Driver Safety Playbook is an excellent guide to engaging drivers, providing coaching and step-by-step professional development plans made by working with insurers and trucking's safest fleets.
On average, fleets utilizing Idelic Program can witness a 20% decrease in preventable crashes in the first year.
"Commercial auto fleet insurance is inherently complex with a multitude of nuances from fleet to fleet. The process of evaluating risks has traditionally relied on underwriter experience and judgment, but insurers are increasingly looking for a more data-driven way to evaluate risks. Idelic Insurance Agency will do just that," stated Michael Gramm, Senior Vice President of Insurance at Idelic Insurance Agency. "By working closely with fleets that choose to use the Idelic Program, we can better leverage critical driver behavior data to quote policies that reflect their reduced crash risk," he added.
(Source – Business Wire)
The Idelic Program and Idelic Insurance Agency are timely solutions to help fleets combat rising insurance rates and reduce losses significantly. However, fleet insurance costs and availability are once again among the Top 10 motor carrier executive concerns listed by American Transportation Research Institute (ATRI).
About Idelic Inc.
Pittsburgh-based Idelic is a software provider dedicated to delivering the best insurance outcomes for fleets. The Idelic Program combines process and technology in a tool designed for and proven successful among fleets and insurers alike. Additionally, the program uses predictive analytics to identify risky drivers and professional development plans to help change behavior patterns and provide insurers with evidence of long-term improvements in crash reduction to negotiate lower rates. The company's experienced technical and industry experts understand the trucking and insurance industries' needs and provide tailored solutions to clients' real problems.
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