The state with the most expensive car insurance rates is

Insurance Business America | April 18, 2019

The state that gave birth to America’s car industry has the most expensive auto insurance rates in the country for the sixth year in a row. Michigan has been revealed as being the most expensive state to insure a vehicle by insurance information website Insure.com. This is the sixth year in a row that the Great Lakes state has taken the top spot, with a policy average of $2,611 – almost 80% higher than the national average of $1,457. According to Insure.com, one of the main factors causing Michigan’s high rates is its unique insurance system, which includes a no-fault car insurance scheme that requires all drivers to carry personal injury protection (PIP) coverage. Michigan employs a unique no-fault car insurance system, which is the main reason car insurance has skyrocketed there,” said Penny Gusner, consumer analyst at Insure.com. “On the opposite end, rural states that avoid severe weather dominate our cheapest to insure list because fewer drivers on the road results in fewer accidents and cheaper insurance overall.

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In this video we have explained various benefits of Term Insurance. Term insurance plan will help you make sure that in your absence your family is protected. Term insurance plans are much easier to understand than insurance plans such as endowment policies, which combines risk cover with savings.

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LIFE INSURANCE

Mercury Insurance Embraces Flexible Work Model with My Workplace

Mercury Insurance | November 19, 2021

Beginning January 3rd, 2022, Mercury Insurance (NYSE: MCY) is rolling out Mercury's My Workplace, a new business model that will allow team members to choose where they want to work. It will give many of the company's team members the freedom to work from home, which may be anywhere in the United States, from the office, or a hybrid combination of both. "Mercury Insurance has learned a lot about how our team members work and how they have taken care of our policyholders, themselves and their families during the past two years," said Heidi Sullivan Lopez, Mercury Insurance Vice President and Chief Human Capital Officer. "We want to empower them to be their best selves while also providing our customers with the best possible customer service, and we've learned that doesn't have to be from a corporate office." Mercury team members quickly adapted to telecommuting during the COVID-19 pandemic, while still maintaining the company's high service standards. "The world has changed and we're changing with it to meet the needs of our team members, customers and agents," said Sullivan Lopez. "This move will strengthen team member experiences and help us attract top talent while we continue to build an incredibly diverse workforce. Mercury's My Workplace focuses on four areas that will make remote employment possible: Strengthening Our Culture: Leadership will participate in learning sessions that will improve employee engagement in a digital environment. Reimagining Our Spaces: Our offices will be transformed into collaboration spaces. Team members, whether at home or in office, will be supported with resources and equipment to further engage with fellow team members. Communication and Collaboration: We will continue to develop resources and provide tips to enhance connections between fellow team members and customers. Focusing on Wellbeing: Work-life balance will remain a core emphasis by helping team members achieve equity between personal and professional responsibilities. About Mercury Insurance Mercury Insurance (NYSE: MCY) is a multiple-line insurance carrier predominantly offering personal auto, homeowners, renters and commercial insurance through a network of independent agents in Arizona, California, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as auto insurance in Florida. Mercury writes other lines of insurance in various states, including business owners and business auto, landlord, home-sharing, ride-hailing and mechanical protection insurance. Since 1962, Mercury has provided customers with tremendous value for their insurance dollar by pairing ultracompetitive rates with excellent customer service. Mercury has earned "A" ratings from A.M. Best and Fitch, as well as ranking highest in the J.D. Power 2021 U.S.

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INSURANCE TECHNOLOGY

Mountain West Farm Bureau Upgrades Majesco Policy for P&C to Majesco CloudInsurer®

Majesco | October 11, 2021

Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that long-term customer, Mountain West Farm Bureau, upgraded Majesco Policy for P&C to Majesco CloudInsurer®, a move that will improve operational effectiveness and decrease infrastructure costs. This move reflects the consistent move of existing Majesco customers to the Cloud. Like others who have made this shift, Mountain West hopes to leverage this upgrade to optimize their operations while enabling the company to take advantage of automatic monthly upgrades for software, rate, rules, and forms, and more on CloudInsurer®. Founded in 1948, Mountain West Farm Bureau is a regional multi-line property & casualty insurance company, serving the needs of individuals, families, farms and ranches, and businesses throughout Wyoming and Montana. Mountain West employs just over 200 individuals, with more than 120 people operating from their home office in Laramie, Wyoming. They have approximately 50 claims field representatives assisting their clients across Wyoming and Montana, and less than 30 IT professionals working from both the home office, as well as remote locations across Wyoming, Montana, Idaho, New Mexico, and Utah. The organization has more than 100 contracted agents located throughout Wyoming and Montana and is committed to providing financial peace of mind to customers with competitive, quality products and services. We take pride in our work and challenge ourselves to be proactive and continually improve the delivery and quality of our products and services to our customers. Our strategic relationship with Majesco has enabled our business transformation and our move to Majesco CloundInsurer® will continue our transformation by enabling us to focus on our operations, while keeping us at the leading edge to meet the ever-changing market and customer demands. This transition to the cloud has improved efficiencies and helped improve the ROI of our investment with Majesco. We look forward to the future with Majesco. - Tim Hays, Vice President of Information Technology at Mountain West Farm Bureau. As the industry continues to change and adapt to new market demands, insurers recognize they must keep pace to enable growth and remain competitive. Migrating to the cloud is a critical step in truly becoming digital and can help organizations engage with customers, bring products to market faster and capture rapidly unfolding market opportunities. Majesco CloudInsurer® is the industry chosen platform that is built to handle key business applications and services to match the reality of the changing market and increasing demands of customers. Over 65% of Majesco’s customers are on the cloud, making it the dominant deployment option. We’re thrilled with the successful cloud migration for Mountain West Farm Bureau and the opportunities ahead for them as a result of this transition,. Majesco CloudInsurer® has been at the forefront of the transition to cloud since the beginning, providing cutting-edge capabilities that increase flexibility, greater service and a modern insurance experience for our customers like Mountain West Farm Bureau. As a recognized market leader, we’ve built a reputation on helping organizations transform business operations to better meet the needs of today’s digitally-charged customer. - Prateek Kumar, EVP of Sales at Majesco. About Majesco Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance. Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results.

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INSURANCE TECHNOLOGY

Beat Capital Partners Picks OneShield to Launch New MGAs

Beat Capital | May 18, 2022

Beat Capital Partners is expanding into the United States and has selected OneShield Software's SaaS technology platform to launch new Managing General Agents (MGAs). Beat Capital Partners is a highly successful insurance sector investor in the United noted for providing start-up money, infrastructure, risk capital, and A+ rated paper to new ventures. The outstanding features of the OneShield Market Solutions (OMS) SaaS platform are the reason for Beat's entry into the US market. OMS includes functionality for policy management (binding, quoting, and servicing), billing (invoicing through payment), claims administration and document management, reporting, and analysis. All of these can be customized to meet the complex needs of MGAs. We did a thorough analysis of available insurance technology platforms and chose OneShield for various reasons, including OMS's all-in-one pricing approach, overall system capabilities, and substantial industry knowledge. The team at OneShield thoroughly understood our overall business concept, and the platform itself has a stellar reputation in the startup and MGA markets." April Galda Joyce, CEO of Beat Capital America. Last year was a big year for OneShield's SaaS offering as many start-up insurers and MGAs wanted to adopt scalable and adaptable technologies with proven rapid time-to-market deployment schedules. We are delighted to meet these similar standards for Beat Capital and look forward to working with them as they expand their business in the United States." Liza Smith, OneShield's Chief Revenue Officer.

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