CORE INSURANCE
Bluevine and Coalition | October 18, 2022
Bluevine, the leading provider of holistic banking solutions designed for small businesses, today announced the expansion of its small business insurance offerings to include Active Cyber Insurance offered by Coalition, one of the world's leading cyber insurance providers, in addition to its existing small business insurance provider, NEXT Insurance. With the addition of Coalition's cyber insurance offerings, Bluevine is providing the small business community seamless access to explore insurance providers right from their account dashboard. Available now, Bluevine Business Checking customers can research a broad set of insurance products and complete the steps to receive a customized insurance quote from our partners.
Finding the right business insurance provider remains a confusing and significant pain point for small business owners looking for reliable coverage from a trusted source. Often, small business owners rely on recommendations from the small business community to determine their insurance needs, but this can leave them with ill-fitting policies that don't address the specific needs of their small business. As many as 75% of small businesses in the U.S. are underinsured, and 40% do not have any insurance, pointing to an acute need for insurance solutions designed with this community in mind.
"After the initial success of our small business insurance partnership with NEXT last year, we took a closer look at the gaps our customers might still have with their insurance policies and worked to close them, By partnering with Coalition and NEXT, Bluevine is serving the broader small business community by providing in-dashboard access to trusted insurance companies that support the small business community on their journey to grow and scale."
-Eyal Lifshitz, CEO and co-founder of Bluevine
Since the launch of Bluevine's insurance partner program, 28% of customers have clicked through to learn more, and thousands have continued on to receive quotes from Bluevine's licensed insurance partners. These partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform.
When we first started our business, we looked for insurance from multiple sources, but when we signed up with Bluevine and learned more about what their insurance partners offer, it made the process so much easier, They helped us learn what we need for our business and get a quote. I would recommend it to anyone who is looking for insurance. We are very happy with our policy,said Daphne Simmons, owner of Ovrtake Fitness.
Overall, these partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform.
Active Cyber Insurance offered by Coalition provides a new integrated approach for companies to manage cyber risk. Coalition's offering provides small and midsize companies with cybersecurity tools, active monitoring, and anytime access to digital forensics and incident response services, combined with insurance coverage provided by well-known insurance carriers. By identifying and mitigating digital risk, policyholders that choose Coalition's offering experience 50% fewer cyber claims than the broader U.S. market, with 45% of incidents resolved at no cost.
In our experience, many cyber criminals are opportunistic, particularly when it comes to small organizations. No company is too small to be an enticing financial opportunity for attackers, Choosing to go with Coalition's Active Cyber Insurance offering can help a small business avoid a potentially catastrophic cyber incident – like a ransomware attack – where financial costs could cripple a business. We are delighted to bring Coalition's product offering to Bluevine customers with the aim of increasing access to cyber insurance for organizations of all sizes and continuing to prevent digital risk before it strikes,said Catherine Lyle, Coalition's Head of Claims.
By providing access to multiple insurance offerings for new and existing digital banking customers, Bluevine is providing entrepreneurs with curated partnership solutions that support their goals. Starting today, existing Bluevine Business Checking customers can log in to their account dashboard and determine the best insurance provider for the current stage of their business. This insurance dashboard expansion enables Bluevine to help solve the ongoing financial needs of small businesses by providing entrepreneurs with access to trusted and best-in-class insurance products quickly and seamlessly.
About Bluevine
Bluevine provides small businesses with fast and simple access to holistic banking solutions built with them in mind. Bluevine's advanced online platform offers an intuitive, convenient solution designed to meet the financial needs of today's business owners with a suite of products including Bluevine Business Checking, Bill Pay, and Line of Credit. Since launching in 2013, Bluevine has served more than 450,000 small businesses and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft's Venture Arm). Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Banking Services provided by Coastal Community Bank, Member FDIC.
About Coalition
Coalition is the leading provider of Active Insurance, combining comprehensive insurance coverage and cybersecurity tools to help businesses manage and mitigate digital risks. Through its partnerships with leading global insurers, including Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, and Vantage, Coalition offers its Active Insurance products in the U.S., U.K., and Canada, and its security products to organizations worldwide. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates both digitally and in office hubs.
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CLAIMS,INSURANCE TECHNOLOGY
CoreLogic and Zurich UK | November 07, 2022
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, is pleased to announce that Zurich Insurance UK (“Zurich”) will use CoreLogic’s digital claims workflow and collaboration platform to enhance its claims operations.
In the UK, Zurich provides a suite of insurance products including commercial and retail property insurance. The agreement with CoreLogic will enable Zurich to enhance its existing claims capabilities by digitising processes on a secure, real-time web application – bringing a streamlined and much simpler claims experience for its customers, handlers and key supply chain partners.
The CoreLogic platform helps to standardise claims processing on a single, cloud-based platform, enabling consistent and efficient triaging, for desk based adjusting and settlement and supply chain allocation. Delivering reduced claim lifecycles, greater cost control, enhanced accuracy and transparency into the claims management process, the platform provides a streamlined workflow management solution. This allows users to easily and securely access, share and process information and data, as well as communicate and collaborate more effectively.
“Zurich has a strong reputation for its customer-centric focus and is now looking to enhance the customer experience even further through a faster, streamlined and easy-to-use claims experience. We are delighted that they have put their trust in our claims platform to help them achieve that goal.
-Mark Barrett, Vice President UK Go To Market, Insurance Solutions, CoreLogic
By digitising processes and bringing everyone on to one single platform, Zurich’s teams, suppliers and customers will all benefit from better communication and transparency throughout the whole claims journey. The Claims Connect™ platform enables higher quality data and resultant insights, greater process efficiencies and ensures that customers can receive the help and support they need at a time that suits them. We are excited about bringing our solution’s value to Zurich’s claims teams, suppliers and customers through this new relationship, saysMark Barrett, Vice President UK Go To Market, Insurance Solutions, CoreLogic.
Helen Rogers, Zurich’s Head of Claims Digital Experience, said: This collaboration will benefit both our customers and our supply chain partners. CoreLogic’s technology will enable our teams to speed up the customer journey by putting claims into the right hands, quicker. In addition, we will have a single source of data that will drive greater simplicity and consistency throughout the claims process as well as enhancing supply chain resilience and efficiencies.
About CoreLogic
CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information.
The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, UK and Western Europe, and Asia Pacific.
About Zurich UK
Zurich UK provides a suite of general insurance and life insurance products to retail and corporate customers. We supply personal, commercial and local authority insurance through a number of distribution channels, and offer a range of protection policies available online and through financial intermediaries for the retail market and via employee benefit consultants for the corporate market. Based in a number of locations across the UK – with large sites in Birmingham, Farnborough, Glasgow, London, Swindon and Whiteley – Zurich employs approximately 4,500 people in the UK.
Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 210 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to ‘create a brighter future together’, Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 56,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN) is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX.
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CORE INSURANCE
Combined Insurance | November 21, 2022
Combined Insurance Company of America, a Chubb company and a leading North American provider of supplemental insurance sold to employees at the worksite and directly to individuals, announced today that it has opened a new regional office in Columbia, South Carolina.
"While the trend in many industries is to move away from in-person work, Combined believes it's important to offer our team members choice, flexibility, and a collaborative environment, Columbia is a wonderful place to do business. It offers a labor market talent-rich in insurance industry expertise, and the Southeast is a prime region for voluntary business sales growth."
-Rich Williams, President of Combined Insurance
Open, Flexible Space
Combined's new regional office is located in 13,000 square feet on the 23rd floor of the Capitol Center, South Carolina's tallest building and more commonly called the Truist Building. The open floor plan provides an outstanding setting in which to host broker and customer meetings.
Nearly 30 team members in the Columbia area, who previously worked remotely, will call the office home, including a cross-departmental mix of executives, sales and field support leadership, as well as members of the claims, compensation, finance, legal, licensing, marketing and operations teams. The office also provides additional space to accommodate additional staff as needed in the future.
We have created a space where our teammates – not only from the Midlands but across the national Combined footprint – can gather to collaborate and work on behalf of our customers and policyholders, The area's abundant talent across job roles and the benefits industry makes it the perfect place for Combined to grow,said Eileen Castolene, Senior Vice President and Chief Operations Officer for Combined.
Voluntary Benefits Sector
Combined offers life, accident, cancer, critical illness and disability insurance, as well as hospital indemnity protection. These products, when offered through the worksite, allow employers to offer employees additional financial peace of mind during these times of rising healthcare costs and economic turbulence.
In today's tight labor market, a competitive benefits package can assist employers in recruiting and retaining talent. In fact, more than three-quarters of employees say voluntary benefits positively affect their decision to work for, or stay with, an employer (Corestream, 2021).
Centennial Year
Today's announcement comes at an important time for Combined, as it celebrates its 100th anniversary in business. The company was founded Nov. 13, 1922 in Chicago.
As we mark our 100th birthday this week, and celebrate our distinctive history, we're proud to start our second century by expanding our office footprint and investing in Columbia, This new office enhances our ability to provide insurance solutions of value and help individuals and families in times of need,Williams said.
About Combined Insurance
Combined Insurance Company of America is a Chubb company and a leading provider of supplemental accident, health, disability, and life insurance products in the U.S.* and Canada. Headquartered in Chicago with a tradition of 100 years of success, we are committed to making the world of supplemental insurance easy to understand. The company has an A+ rating by the Better Business Bureau and an A + (Superior) financial strength rating by A.M. Best. We are ranked by VIQTORY as the number one Military Friendly® Employer in 2022 (over $1 billion revenue category), marking Combined's eleventh consecutive year on the Top 10 list.
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