CORE INSURANCE

Sentry Insurance launches Sentry Risk Factor

Sentry Insurance | August 30, 2021

Sentry Insurance has launched Sentry Risk Factor, its proprietary risk management tool. By gathering detailed information through quality conversations with dealers, the tool helps evaluate, identify, and measure a dealership's potential risks that could lead to a large loss, and potentially, temporary business closure.

"We know how hard dealerships work to build their business and reputation, and we want to do our part by actively helping them reduce their risks," said John Hyland, president of direct writer at Sentry Insurance. "With Sentry Risk Factor we can help a business measure risks, including the ones that are less obvious and often unforeseen, to help prevent devastating loss at a dealership."

The first, and most important, step in the process is to have an in-depth conversation with a Sentry representative to discuss current operations and the safety culture at a dealership. The conversation allows a Sentry representative to identify risks across five different categories: safety culture, auto risk, building and inventory risks, service practices, and premises observations. Based on information gathered during this initial conversation, Sentry representatives use Sentry Risk Factor to assign a dealership one of three rankings—best in class, average, or red flag.

Based on the overall rankings, Sentry Risk Factor generates a report that details the­ results and proposes steps to help a dealership mitigate risk. An additional benefit for customers includes recommended safety resources that dealerships can access via their online accounts. Sentry Risk Factor is available for current and prospective customers.

Sentry is a leading provider of commercial insurance programs to more than 3,000 dealers throughout the country. Sentry is also endorsed by John Deere and Harley-Davidson as the preferred provider of commercial insurance for their dealerships. Visit the Sentry Risk Factor page to learn more.

About Sentry
Sentry Insurance is a part of one of the largest and most financially secure mutual insurance groups in the United States, holding a Financial Strength Rating of A+ (superior) from AM Best, current as of June 2021. See ambest.com/ratings/guide.pdf for rating information. Sentry and its subsidiaries and affiliates sell property and casualty insurance, life insurance, annuities, and retirement programs for business and individuals throughout the country. Headquartered in Stevens Point, Wisconsin, Sentry employs more than 4,300 associates across the country.

Spotlight

Why Does My Organization Need Insurance? The number one question that most Parent Teacher groups face today is “Why does my Organization need insurance?” That’s a great question and one that every Parent Teacher group should ask itself. There are many misconceptions about insurance when it comes to Parent Teacher groups.

Spotlight

Why Does My Organization Need Insurance? The number one question that most Parent Teacher groups face today is “Why does my Organization need insurance?” That’s a great question and one that every Parent Teacher group should ask itself. There are many misconceptions about insurance when it comes to Parent Teacher groups.

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ANNUITIES

Luma and Insurance Technologies Partner to Bring Annuities Solution

Luma Financial Technologies, Insurance Technologies | February 24, 2021

Luma Financial Technologies ("Luma"), a free, multi-issuer structured products and annuities platform, reported today that they have chosen Insurance Technologies, LLC, supplier of FireLight®, a multi-transporter start to finish insurance and retirement deals platform, as its most recent accomplice to bring their annuities solution, "Luma Annuities," to market. The Luma platform, which is sponsored by three of the world's biggest banks, was worked to improve on the structured item venture measure. After solidly setting up itself as the worldwide fintech market leader in the structured products space, Luma is currently presenting an unequaled annuities solution that gives improved customer worth and helps consultants in battling their customers retirement saving difficulties, which are being driven by increasing market unpredictability and a low interest rate climate. Luma Annuities is a turn-key annuity deals and lifecycle management solution that straightforwardly addresses the greatest difficulties confronting counselors selling annuities today. The solution works on all parts of getting the hang of, executing, arranging, and overseeing annuities for venture firms and guides, allowing them to unquestionably offer their customers a more extensive scope of income-generating products. “Our mission has always been to simplify product complexities and give advisors smart solutions that they can believe in,” said Jay Charles, Director of Annuities at Luma Financial Technologies. “By partnering with Insurance Technologies and leveraging the FireLight platform’s embedded API capabilities, we bring a seamless order entry experience to financial professionals around the world. It is through our scale that we’re able to provide advisors with this unmatched experience, allowing them to offer their clients a wider-range of solutions to potentially put them on a path to a more secure retirement.” The new solution offers best in class innovation modules that are worked by guides, for counselors. It was intended to offer top tier instructive substance just as highlight broad information across a merchant seller's whole annuity item rack so guides can look at rates, riders, and item includes. Additionally included are prescient investigation and transporter delineation includes that enable consultants to introduce the best, most secure item solutions to their customers. Independently, the solution additionally allows guides to track and screen the presentation of the products they sold through the Luma platform, just as products in their past book of business. By inserting the Insurance Technologies FireLight solution inside the Luma platform, clients get a durable deals insight, allowing them to oversee products and rules in one incorporated area. Since 1995, Insurance Technologies has been altering the insurance and financial services industry to enable financial experts and counsels to all the more likely serve their customers. Their solutions have for some time been executed inside industry-driving insurance transporters and wholesaler firms. “We’re extremely excited to partner with a company that is adding tremendous value to the annuity category at a time when Americans need guaranteed income options more than ever,” said Doug Massey, EVP of Sales and Relationship Management, Insurance Technologies. “The ability for Luma to utilize the FireLight sales platform to access e-application and illustration data demonstrates the power of FireLight to allow carriers to build product rules once and re-use anywhere, seamlessly offering products in various user interfaces and effective solutions such as Luma Annuities. The transparency, efficiency, objectivity, and easy-to-manage tools that Luma provides financial professionals are simply powerful. We look forward to working with them to enhance the annuity investment experience provided to their customers.” About Luma Financial Technologies Luma Financial Technologies is the creator of Luma, a fully customizable, independent, buy-side platform that helps financial teams more efficiently learn, create, order and manage market-linked investments such as structured products, structured annuities and more. Launched in 2011, Luma is one of the largest and longest-tenured structured product platforms in the U.S. market and is used by broker/dealer firms, RIA offices and private banks to automate and optimize the full process cycle for offering and transacting in market-linked investments. This includes education and certification; creation and pricing of custom structures; order entry; and post-trade actions. Luma is multi-issuer, multi-wholesaler and multi-product, thus providing teams with an extensive breadth of market-linked investments to best meet clients’ specific portfolio needs. About Insurance Technologies Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industries. Offering a suite of integrated sales solutions, from pre-sale functions to quoting and illustrations through e-application and e-delivery to post-sale services, Insurance Technologies provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across all lines of insurance, retirement and investment products. The unique architecture and flexibility of its solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth and evolve with regulatory changes.

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INTELLECTUAL PROPERTY

Fathom Holdings Subsidiary, Encompass Lending Group, Acquires Cornerstone First Financial

Fathom Realty | February 16, 2022

Fathom Holdings Inc. (NASDAQ: FTHM), a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings for brokerages and agents, today announced that its subsidiary, Encompass Lending Group, has acquired Washington, D.C.-based Cornerstone First Financial, a residential mortgage lender. The acquisition is expected to be immediately accretive. Other terms of the transaction were not disclosed. Cornerstone First Financial provides a full range of residential lending solutions to individuals and families, offering mortgages for home purchase, debt consolidation and refinancing, as well as home loans for veterans and first-time home buyers. An equal housing lender, Cornerstone First Financial operates in multiple key markets including California, Colorado, Florida, Georgia, Maryland, Pennsylvania, Virginia, and Washington, D.C. "I'm excited to welcome Cornerstone to our Fathom family. Mark Livingstone and his team bring a unique expertise to Encompass Lending, and once implemented across many of our markets, could significantly bring more mortgage business to our loan officers, I look forward to fulfilling new lead generation strategies that benefit each of our mortgage, real estate, title and insurance businesses, and as we integrate mortgage lending deeper into our technology platform, we believe we can take this opportunity to an even greater level. When we acquired Encompass Lending in April 2021, I stated that I believed the acquisition could help us attract additional successful mortgage teams and smaller lending operations to our company. I am pleased to prove that statement true through this acquisition of Cornerstone First Financial." -Josh Harley, Fathom Holdings' founder and CEO. Recognized by Washingtonian Magazine as one of the top mortgage professionals in Washington, D.C., and a popular radio and podcast personality, Mark Livingstone founded Cornerstone First Financial in 2001 based on ethics-driven principles and an ongoing commitment of providing value and service to clients through education and awareness. "We are thrilled to add Cornerstone First Financial to the Encompass Lending family, The acquisition enhances our lending platform and adds to our already growing footprint. We are excited to expand the Cornerstone First Financial model beyond being 'the voice' of mortgage lending in Washington, D.C. to being the voice of mortgage lending in the United States." -Sean Varin, president, Encompass Lending Group. About Fathom Holdings Inc. Fathom Holdings Inc. is a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent. The Company's brands include Fathom Realty, Dagley Insurance, Encompass Lending, intelliAgent, LiveBy, Real Results, and Verus Title.

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LIFE INSURANCE

Kinly and Haven Life Partners to Make Term Life Insurance More Accessible to African-Americans

Haven Life | June 03, 2022

Kinly and Haven Life, a customer-focused life insurance agency backed and entirely owned by Massachusetts Mutual Life Insurance Company (MassMutual), have announced a new partnership to make term life insurance more accessible to African Americans. Haven Term and Haven Simple term life insurance policies will be offered on the Kinly mobile app for Kinly members because of this partnership. Kinly is a digital bank created with black Americans in mind, who have historically been underserved and underbanked by traditional financial institutions. According to a study commissioned by Haven Life, while black Americans are more likely than white Americans to have life insurance, they are significantly underinsured. The study discovered that white people had a median of $150,000 in life insurance coverage compared to just $50,000 for black people. From our very first day, Haven Life's core mission was to make life insurance more accessible and affordable for everyone. We recognize that systemic barriers still exist for Black Americans when it comes to equitable access to financial planning, banking and insurance products. Seward further added, Our partnership with Kinly is central to our founding mission, and we remain committed to doing everything we can to break down access barriers." Wade Seward, Head of Distribution Strategy at Haven Life. Kinly members can apply for Haven Term and Haven Simple through an online application and, if granted, receive coverage immediately. Haven Term provides coverage of up to $3 million for terms of 5, 15, 20, 25, and 30 years. Haven Simple provides coverage up to $500,000 for 5, 10, or 15 years. Both policies have extremely low rates. For example, a 35-year-old woman in good health could qualify for Haven Term coverage with a 20-year term of $500,000 for only $17.50 per month. Helping Black Americans build generational wealth and financially protect their families was one of our driving principles when launching Kinly, We're excited to be partnering with Haven Life as ensuring access to quality, affordable life insurance is a key part of building such wealth." Donald Hawkins, Founder and CEO.

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