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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WORKERS COMPENSATION, RISK MANAGEMENT
Origami Risk | March 09, 2023
Fleming Insurance Holdings informed on March 8, 2023, that it has chosen the multi-tenant core solution platform from Origami Risk to improve its data and analytics capabilities for liabilities, including workers' compensation, auto liability, and general liability lines.
Fleming Insurance Holdings is a provider of property and casualty capital solutions. Origami's platform is set to give it several tools and capabilities for data collection, reporting, and advanced analytics that the company can use to speed up and improve its underwriting and claims management processes.
Benjamin Bomhoff, CTO of Fleming, stated, "As our insurance carrier partners look to us for innovative reinsurance and capital solutions, we are committed to leveraging state-of-the-art technology to facilitate timely and accurate decision-making."
He added, "Origami's end-to-end solution should be a real difference-maker for our enterprise, enabling us to operate with expanded data/analytics capabilities, greater speed and efficiency."
(Source – Business Wire)
Chris Bennett, President of Core Solutions division at Origami Risk, remarked, "By implementing Origami's risk management information system, Fleming will be able to drive efficiency in its underwriting and claims operations, and deliver added value to its carrier partners."
"These capabilities are among several innovative solution sets we've developed to help carriers and other insurance providers drive efficiencies across critical functions, meet customer needs and improve overall performance," he concluded.
(Source – Business Wire)
Origami Risk offers all internal and external stakeholders a complete digital engagement experience and integrated SaaS solutions for policy, rating, billing, loss control, claims administration, reporting, and analytics.
About Origami Risk
Origami Risk offers comprehensive SaaS solutions that make insurance, risk, and safety easier for insurers, including managing general agents, program administrators, third-party claims administrators, risk pools, brokers, and others. The company's core insurance system, risk management, and safety solutions are all delivered through a secure, multi-tenant platform that can be accessed through a web browser or a mobile app.
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CORE INSURANCE,INSURANCE TECHNOLOGY
Verlingue | January 17, 2023
Verlingue, a French Adelaïde Group subsidiary specializing in corporate protection, is expanding into the Grand Est region (France) with two new acquisitions.
Cabinet Depeyre, an insurance broker founded in 1997, specializes in consulting and managing complex business risks. Meanwhile, Depeyre Solutions, established in 2014, is a business risk underwriting agency for brokers and general agents. The group employs 23 people for commissions of just over €4 million.
Cabinet Depeyre, an insurance broker specializing in complex business risks, works with its clients to analyze, prevent, and manage their risks. The Cabinet Depeyre teams have expert knowledge in high-pressure industries like wood processing, transportation, and logistics, building material producers and traders, etc., whether in civil liability or property damage cases.
Jean-Michel Depeyre, Head of both companies, stated, "With Verlingue, I firmly believe that our teams will be able to provide even better support to our customers and provide them with all the solutions offered by a company with which we already share common values and a vision of our role as a trusted partner in risk management."
(Source- Business Wire)
Following the acquisition of RT Global Insurance in Portugal at the end of 2022, Cabinet Depeyre and Depeyre Solutions in France strengthen Verlingue's external growth dynamics as part of its strategic plan for 2024.
About Verlingue
The company uses corporate risk management and employee protection to help clients create value and perform. Intending to make insurance simple, Verlingue advises and manages insurance programs for over 3,200 corporate clients. With offices in Portugal, France, Great Britain, and Switzerland and partners in over 100 countries, it creates simple yet practical solutions to safeguard the client's company (corporate risk) and employees. In addition, Verlingue collaborates with its clients to better identify and plan for future threats (supplementary social protection schemes and pensions).
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