Cision PR Newswire | October 17, 2020
Equisoft proudly announced today the successful implementation of their SaaS policy administration offering, Equisoft/manage, including their electronic application software, Equisoft/apply, for GCU. The new solution, which is built on the Oracle Insurance Policy Administration (OIPA) platform, was rolled-out for GCU's Final Expense products, creating an enhanced experience for e-applications, new business, automated underwriting, agency compensation, policy changes, billing & payments, claims, workflow, correspondence and operational reports. Located in Beaver, Pennsylvania, GCU is a 128-year-old fraternal benefit society offering innovative Life & Annuity products to their clients in United States. GCU embarked upon this strategic initiative in late 2018 and subsequently entered into a multi-year agreement with Equisoft to upgrade their technology, implement new products, and sunset their legacy PAS by migrating their policies to the Equisoft/manage solution.
Cision PR Newswire | August 24, 2020
Church Mutual Insurance Company, S.I. (a stock insurer)1 is launching a preferred vendor program with SafelyYou to introduce revolutionary fall prevention technology to its memory care customers. This technology will ultimately decrease fall risks, emergency room visits and the long-term cost of insurance premiums. Our research shows that SafelyYou's memory care-focused technology reduces resident falls by an average of 40%, so we are excited to share this game-changing technology with our senior living customers," said Jim Ketterson, Director – Special Business Unit/Senior Living for Church Mutual®. "By accelerating the adoption of the technology, our goal is to help keep professional liability loss costs down and offset increasing insurance rates. Once our customers get to experience the technology in action, we are confident they will be interested in deploying it more fully throughout their communities.
Newfront | July 16, 2021
Newfront Insurance, a cutting-edge technology-enabled brokerage, and ABD Insurance and Financial Services, a renowned pioneer in employee benefits, insurance, and financial services, have agreed to merge, revolutionizing the insurance experience for customers and insurance professionals alike. The merged firm, known as Newfront, is valued at $1.35 billion and is scheduled to complete by the end of August.
The merger of these two market leaders will create 600 jobs, service over 10,000 customers, and place more than $2 billion in premiums each year. In addition, the new business, Newfront, will offer clients a more transparent, data-driven, and real-time experience, resulting in a reduced total cost of risk and better insights for our clients.
Spike Lipkin as CEO, Kurt de Grosz as Executive Chairman, Brian Hetherington as President, and Gordon Wintrob as CTO will continue to lead Newfront from its San Francisco headquarters. To create the modern insurance experience, the merged company's veteran leadership team relies on expertise from insurance brokerage leaders and Silicon Valley innovators such as Uber, Intuit, and Twitter.
Newfront's financial adviser was Perella Weinberg Partners LP, and its legal advisor was Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP. Reagan Consulting, Inc. acted as ABD's financial adviser, while Weil, Gotshal & Manges LLP served as its legal advisers.
Risk management, insurance brokerage, human resources, and retirement consulting are all ABD Insurance and Financial Services services. Our advisors provide guidance and develop innovative solutions to assist clients of all sizes, stages of growth, and industries in addressing risk.
ABD, headquartered in San Mateo, has offices in California, Washington, Illinois, and New York and employs over 400 people who serve clients across the United States and throughout the world.
Newfront, founded in 2017, is one of the nation's fastest-growing insurance brokerages, due in large part to unique technology that makes the insurance transaction less cumbersome, more transparent, and more successful for customers and brokers. Newfront was recently selected to the 2020 CB Insights list of the most innovative financial services companies in the United States. In addition, Forbes named it one of the Top 50 Fintech companies for 2021.