Wheelbase | January 27, 2022
The insurtech company Roamly today announced its new professional insurance product for the rapidly growing market of professional RV rental companies worldwide. Wheelbase, the professional software product for RV fleet operators, will now embed Roamly into its software to make insurance painless, simple, and economical.
New, tailored RV insurance product brings digital insurance to commercial RV operations.
The new partnership offers Roamly, the only tailored RV insurance product, directly to commercial RV rental operators, tour companies, and booking agencies. In addition, Roamly is made available directly from the software for any consumer who books trips and vacations through a rental company utilizing the Wheelbase software.
With embedded digital insurance, commercial RV operators and their customers no longer have to navigate insurance solutions that can be costly, cumbersome, and complex. Roamly also includes trip cancellation coverage and interior damage coverage for renters – making for a seamless and worry-free vacation for travelers. Roamly also provides benefits that reimburse the traveler for unused, prepaid, and non-refundable insured travel arrangements.
"With the growth of commercial RV rental operations worldwide stemming from an environment where people want to travel, as well as the dominant position that Wheelbase enjoys in the professional market, this partnership made logical sense for consumers who want an easy-to-book and fully protected trip without the arduous task of sorting out insurance with agents and brokers,"
- Roamly's Chief Insurance Officer Aaron Ammar.
Now consumers have a way to protect their trips, and fleet operators can focus on customer operations without chasing insurance products through insurance carriers, which are commonly expensive and complex to purchase. Operators utilizing Wheelbase software and Roamly insurance include Road Adventures by Mark Wahlberg, a rapidly expanding RV rental business in Ohio partially owned by Hollywood actor Mark Wahlberg.
"When you dive into the RV rental business, it is a priority for your fleet to be insured both during and outside of rentals to mitigate all risks, It can be a bit gut wrenching to hand your keys over to a stranger, and hope they will properly care for your unit. However, utilizing Roamly insurance for both our renters and our company has cultivated a peace of mind for us. The transition was seamless and simple, and the Wheelbase team was there to help every step of the way."
-Chris Haydocy, Managing Member of Road Adventures by Mark Wahlberg.
In 2021, more than 240 new companies started using Wheelbase software to run their business – amounting to roughing one new RV rental business onboarded every other day.
Roamly has grown rapidly over the past year. Having recently come out of beta, it's already produced more than $7M in written premium.
Roamly is the first RV-focused insurtech in the world, unlocking RV insurance to make owners' vehicles 'rent ready.' Roamly provides unique digital insurance products that eliminate the commercial use exclusion clause that prohibits online renting activity. Our insurance provides the clarity that owners need to ensure their vehicles which are affirmatively allowed to be rented on platforms like Outdoorsy. For more information, visit www.roamly.com.
Wheelbase is the RV industry's most powerful fleet management and rental software that streamlines the way small, medium, and large RV businesses operate. Wheelbase provides RV rental companies with a cloud-based complete suite of rental management tools to optimally run businesses from the first point of customer contact to key return. The software provides rental companies with fleet management, payment processing, web hosting, online booking, insurance protection for domestic and international renters — all from one simple dashboard. The software is used by 1,000+ companies in the US, Canada, Australia and throughout Europe.
The Motus Solution | March 02, 2022
Motus Insurance Services, LLC has added Beazley PLC via BHI Digital to provide an elective earthquake program for residential and commercial associations. Beazley is a publicly traded company (LSE:BEZ) with over $3 billion in premium and maintains an A rating by AM Best with a stable outlook. Beazley will give residential associations and their individual unit owners access to the leader in catastrophic deductible buydown insurance in the market, adding more flexibility to the Motus product set with a carrier that can properly underwrite this targeted risk.
"This is an important step for Motus and for our clients, We can officially write our earthquake program in all 50 states, and adding Beazley as our 4th insurance carrier further validates our unique earthquake insurance program for associations. Each of our carriers takes a different view on earthquake risk, and the addition of Beazley adds additional capabilities to our program. This means we can offer the most competitive pricing to our clients, whether they're focused on full coverage in the case of a major earthquake, or paying for minor repairs."
-CEO Dan Wallis.
"Motus Insurance Services, in my opinion, is as innovative of a company in the insurance industry as there is today Through our partnership with Motus Insurance Services, together we are able to provide lower Earthquake deductibles to individual residential owners in an association than are typically available in the insurance marketplace. Instead of being handcuffed with a massive deductible in the event of a loss and the prospect of potential cash flow issues, unit owners are able to purchase through Motus Insurance Services a lower deductible amount that best fits their desires and needs. The team at Motus Insurance Services is as good as there is and we are glad to be partnering with them not just in California, but now throughout the United States."
-Kevin Ware, co-founder of BHI Digital.
Motus was founded to provide residential association boards and membership with a third option: a custom elective earthquake insurance program that offers individual unit owners the benefits of commercial underwriting and commercial coverages without placing a burden on the association budget. The Motus Opt-in Earthquake Program offers a better option for associations struggling to manage risks within increasingly challenging financial constraints.
About The Motus Solution
The Motus Opt-In Earthquake Program is designed to bring all the benefits of a traditional master earthquake insurance policy to the more than 30,000 associations and 2.2 million condo owners who are not covered by one. Only a master earthquake policy can allow a condo owner to fully protect the equity in their home. This is because only a master policy can fully cover damages to residential buildings, foundations, garages, underground pipes, and other common areas within the community. Traditional unit owner policies (which are unavailable to many condo owners) were designed to supplement a traditional master policy – not replace the coverage they provide. These traditional unit owner earthquake policies depend on zip code rates and cap critical coverages like loss assessment coverage or contingent liability. Each Motus program is custom-built based on the specific exposures of the association. Once the board approves the Motus program for their association, each unit owner then has the option to purchase their pro-rated share of a master policy – covering unit interiors, residential buildings and common areas. No more mind boggling exclusions.
EquiTrust | June 24, 2022
Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that EquiTrust Life, a leading North American life and health insurance company, has selected Sapiens' award-winning suite of e-application, illustration and digital solutions to provide their agents next generation customer acquisition and service capabilities.
Sapiens IllustrationPro, Sapiens ApplicationPro and Sapiens DigitalSuite support EquiTrust Life's key product offerings by providing comprehensive, new business illustrations with enhanced solutions for complex scenarios with split second calculations, and an interactive experience to reduce re-keying, resulting in fewer errors, faster time to decision and better engagement. Sapiens' simple, intuitive, device-agnostic user engagement with flexible branding and integrations enhances EquiTrust Life's partner experience. Leveraging Sapiens' toolkit, the solution provides self-sufficiency and reduces total cost of ownership.
We were looking for one vendor to drive our digital transformation and accelerate innovation within our agent sales process. Innovation is a key pillar within EquiTrust Life, and we felt that Sapiens' digital tools would enable innovation much faster than any other competitor, while providing us industry insights and best practices, We administer financial products for retirees, and Sapiens' solution delivers a superior agent experience to market complex financial products that help protect our growing senior population."
Carol Woodruff, Vice President, Information Systems with EquiTrust Life.
We are very excited to partner with EquiTrust Life on their digital transformation journey, Sapiens not only provides a wide array of best-of-breed solutions, but we also truly understand our customers' operational goals and are committed to delivering best-in-class solutions, seamlessly to drive growth and deliver value. "
Jamie Yoder, Sapiens North America President & General Manager.
Sapiens IllustrationPro for Life & Annuities is a cloud-first, point-of-sale illustration and quoting solution, offering a fully responsive, modern, intuitive user experience for the life and annuities and health markets. Sapiens ApplicationPro is a robust electronic application software that helps carriers address critical business drivers, such as decreasing time–to–issue and reducing policy acquisition costs, all in an extremely intuitive and easy–to–use package.
Sapiens DigitalSuite offers a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. The flexible, component-based platform can be leveraged together with Sapiens' core solutions or on top of other (non-Sapiens) solutions.
About EquiTrust Life
EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. EquiTrust is a national carrier of competitive, client-friendly options, available through various distribution channels including more than 15,700 independent sales representatives and independent marketing organizations. EquiTrust offers fixed-rate and indexed annuities and life insurance and is headquartered in Chicago with operations in West Des Moines. In June 2015, Magic Johnson Enterprises became the majority shareholder, making EquiTrust Life Insurance one of the largest minority-owned life insurance company in the history of the country at $25.7 billion in assets.
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by more than 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers' compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management.