INSURANCE TECHNOLOGY
Risk Strategies | February 14, 2023
On February 13, 2023, Risk Strategies, a national specialty insurance, risk management and consulting firm, announced its acquisition of Bullen Insurance Group, bringing the expertise and services for the specialized needs of high-net-worth individuals and families.
Bullen Insurance Group is a specialty insurance brokerage and risk management firm designed for the insurance needs of successful family offices and businesses, individuals, and families, protecting valuable assets and property worldwide. In addition, it customizes insurance programs, addressing the complex risks of properties like automobiles, yachts, aircraft, and art collections exposed to natural disasters. With a personalized service approach, it has been helping industries, financial institutions, historic properties, and non-profit organizations, developing trust and loyalty for generations of clients and renowned commercial businesses.
National practice leader for Private Client Services at Risk Strategies, Alison Murphy, said, "Effectively addressing the many complex risks faced by highly successful individuals and families requires deep expertise and dedicated specialization." She added, "Bullen Insurance Group has a well-earned, long-established reputation for excellence in serving high-net-worth clients and this provides us with a unique opportunity to expand our high-net-worth practice in a key market. I'm thrilled to welcome Matt and his team to Risk Strategies."
(Source – Globe Newswire)
President and CEO Matthew C. Fox said, "Given the firm's long history, and the trust our clients place in our service and knowledge, we wanted to be sure we were choosing the right partner to scale and perpetuate our business." He added, "The quality of the people and the operational platform we saw at Risk Strategies and their specialist approach to client service and collaboration gave us great confidence that we have found a partner that is aligned with our vision and will support our unwavering commitment to our clients."
(Source – Globe Newswire)
About Risk Strategies
Risk Strategies, an insurance service provider, has been offering financial benefits and protecting assets since 1997. It is a privately held National Specialty Insurance Brokerage and Risk Management Advisor, minimizing liabilities of its assets. Headquartered in Boston, it is one of the oldest firms in the private equity industry, investing in the insurance sector and offering financial benefits, compensations, and employment. It provides solutions in specialty insurance, brokerage, private clients, transportation, surety, captives, group benefits, risk management, high-net-worth, employee benefits, property, and casualty.
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CORE INSURANCE, INSURANCE TECHNOLOGY
Inszone Insurance Services | February 20, 2023
Inszone Insurance Services, a personal and commercial lines insurance services provider, has recently announced the integration of David Tennant Insurance Agency. This acquisition would enhance its insurance services and provide more options for insurance to its customers in California.
David Tennant Insurance Agency started in 2002 and has name after its founder Dave Tennant. Dave Tennant started as an insurance agent in his father’s Lake Tahoe Insurance agency from 1982 to 1986 when his father sold the company. He has also worked as an exclusive agent in Allstate Insurance company from 1996 to 2002. Being an experienced insurance professional, he decided to open his agency and is now acting as a Principle in the Tennant Insurance Agency. Here, he strategizes client relationship management, controls the products, and can give his clients the best rather than meet company quotas. Being principle he has fostered his relationships with his clients over decades, extending the relationship from professional to personal. He was also a member of his local rotary club for 25 years, where he was also nominated as president and will continue to be active in his community.
Inszone always strives to improve the customer experience at every stage of policy purchase. It ensures that customers understand their insurance needs, coverage, and the insurance policy they are about to purchase. It acts like an insurance partner to the customers rather than an insurance agency. This acquisition represents its commitment to customer enhancement.
CEO of Inszone Insurance Services, Chris Walters, said, “The acquisition of David Tennant Insurance Agency will make a great addition to the Inszone family.” He added, “This acquisition is an essential step on our continued journey to providing more options and enhanced service to customers in California.”
(Source – Business Wire)
About Inszone
Headquartered in Rancho Cordova, California, Inszone, an insurance services provider, has expanded its insurance space since 2002. It is a full-service insurance agency handling the customers' personal and business insurance requirements. In addition, it provides services for umbrella insurance, group dental and vision insurance, group health insurance, group life insurance, special event insurance, landlord insurance, renters insurance, motorcycle insurance, auto insurance, commercial property insurance, general liability insurance, workers compensation, homeowners insurance pet insurance, disability insurance, and employee benefits. It has offices in California, Illinois, Texas, Missouri, Nevada, Utah, Colorado, and Arizona, serving all 50 states of America.
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CORE INSURANCE, INSURANCE TECHNOLOGY
Canal Insurance Company | February 16, 2023
Canal Insurance Company has recently announced its partnership with CLARA Analytics to accelerate the resolution of commercial insurance claims with an artificial intelligence interface. CLARA Analytics will optimize commercial insurance claims with the technology of AI.
There is a tremendous increase in claims outcomes of commercial transportation, burdening insurers of the trucking industry. They are forced to search for innovative ways of managing claims so that they can produce better outcomes for their clients. Through the partnership, Canal will access CLARA’s Triage and Litigation modules for its commercial auto claims.
The AI-based insights will monitor these claims and filter those claims which are on the verge of escalation. The Triage module assists insurance claim managers with the best path for the resolution, whereas the Litigation module provides insights for clients to acquire amicable settlements and reduce complicated processes and the cost of litigation.
President and CEO of Canal, Paul Brocklebank, said, “At Canal, we consistently explore innovative ways to drive profitable performance, sustainable growth, and shareholder value.” He added, “As a well-established insurance specialist in commercial transportation, Canal is addressing many of the same challenges facing commercial auto insurers at large. Through advanced data analytics, CLARA provides the expertise and track record to help Canal drive better and more efficient claims outcomes, and this benefits both our customers and the Canal enterprise. We are excited about CLARA as a critical new business partner and extension of the Canal team as we join forces to embrace future opportunities in motor carrier insurance.”
(Source – Business Wire)
CEO of CLARA Analytics, Heather H. Wilson, said, “Canal is experiencing tremendous results, in large part because they’re led by a visionary CEO and proactive about finding innovative ways to tackle the problems facing the industry. CLARA will help them to resolve claims in ways that serve their policyholders.” She added, “With our AI technology, innovators like Canal can drive measurable loss cost and expense savings.”
(Source – Business Wire)
About Canal Insurance Company
Headquartered in Greenville, South Carolina, Canal company has been providing insurance solutions for commercial trucking and specialty transportation operations since 1939. It offers insurance products and services like auto liability, physical damage, transportation insurance, insurance claims, underwriting, trucking insurance, specialty transportation insurance, motor truck cargo, trucker’s general liability coverages and risk management services. It distributes its insurance products nationwide through professional general insurance agents. It connects shareholders, employees and partners with innovation and expertise for insurance protection and coverage.
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