CORE INSURANCE
Root Insurance | February 17, 2023
On February 16, 2023, CCC Intelligent Solutions Inc., a SaaS platform for the personal and casualty insurance industry, announced that Root Insurance would extend its relationship with it for a technology-based first-party casualty solution. This extended relationship empowers Root Insurance to connect APD claims data and insights with casualty claims processing.
The addition of a CCC-powered first-party casualty solution enables Root to manage auto physical damage along with first- and third-party casualty claims through a single digital workflow. It digitalizes reimbursement recommendations, bill intake, and review. It provides accident data and insights so that it could help insurers with reviewing the medical bills for appropriateness and accuracy of medical treatment and medication charges through a digital medium.
Chief Claims and Customer Service Officer of Root, Mark LeMaster, said, "As a digital-first insurer, it is essential for Root to leverage data and technology to inform decisions and deliver seamless experiences." He added, "By working with CCC we can do both across the life of a claim, spanning auto physical damage, first- and third-party casualty and subrogation claims. CCC's network, technology, and AI are coming together in a way that will enable us to deliver on our policyholders' expectations for straight-through claims experiences."
(Source – Business Wire)
Chief Commercial and Customer Success Officer of CCC, Mike Silva, said, "We are excited to continue to support Root's vision for smart, digital claims management." He added, "Connecting the auto-physical damage and casualty claims processes will help Root gain greater insights to achieve better claims efficiency and better outcomes."
(Source – Business Wire)
About Root Insurance
Headquartered in Columbus, Ohio, Root insurance, an insurance company, has been providing insurance products and technology platforms for fairness, simplicity, and personalization in the FinTech industry since 2015. It offers services for car insurance, data science, engineering, automotive telematics, mobile applications, technology, and related insurance. It has been reported that the Root application has about 11 million app downloads, collecting more than 18 billion data for insurance offerings. Through the application, it measures driving behaviors like route consistency, driving times, speed of turns, and braking, determining the safe drivers.
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CORE INSURANCE,WORKERS COMPENSATION
Inszone Insurance Services | January 06, 2023
Inszone Insurance Services, a leading national supplier of benefits, personal, and commercial lines insurance, has acquired Employers Choice Insurance Services Inc.
As part of the acquisition, Employers Choice Insurance Services staff and the current site in Oceanside, CA, will be retained by Inszone Insurance Services.
Employers Choice Insurance Services, founded in April 1998, has become the go-to firm for workers' compensation in Oceanside and the surrounding areas. Over the years, Employers Choice has successfully grown into one of California's premier commercial insurance agencies.
Employers Choice Insurance specializes in workers' compensation and also provides general liability, group health, commercial auto, and payroll insurance to its commercial clients.
About Inszone
Founded in 2002 in Rancho Cordova, CA, Inszone Insurance Services has grown into one of the big players in the insurance sector with offices in California, Arizona, Colorado, Utah, Nevada, Missouri, Texas and Illinois, serving all the 50 states. With a customer-centric mentality, it focuses on the relationship between agents and customers, ensuring customer satisfaction above all else. Inszone Insurance Services is a full-service insurance agency that can handle both personal and commercial insurance needs. With experienced and expert insurance professionals' insights, it simplifies shopping strategies for customers, making an otherwise complex process simple and streamlined.
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CORE INSURANCE, RISK MANAGEMENT
Risk Strategies | January 31, 2023
In a recent development, Risk Strategies, a prominent national specialty insurance brokerage and risk management organization, acquired Tanenbaum-Harber of Florida, LLC, a well-established insurance and risk management consultant for businesses and families. However, the terms of the agreement were not revealed.
Tanenbaum-Harber, one of the largest independent retail agencies in South Florida, has its headquarters in Miramar (Florida). The company's history dates back to 1860, and today, it is among the most successful in the region. Tanenbaum-Harber of California, Inc.'s assets were also obtained as part of the acquisition. Headquartered in San Diego, Tanenbaum-Harber of California, Inc. provides support to developing businesses in the state.
Scott Popilek, Atlantic Regional Leader, Risk Strategies, stated, "Tanenbaum-Harber brings another industry leading brand to our growing Florida team." He added, "They have terrific, highly experienced people and an approach to client service built and refined for over 150 years that perfectly aligns with our firm."
(Source – GlobeNewswire)
Tanenbaum-personal Harber's lines division, which helps families and individuals with their risk and liability coverage needs, has grown steadily in recent years, even though most of the company's business is with clients who want customized property and casualty insurance solutions.
Fred Jove, President, Tanenbaum-Harber of Florida, expressed, "Given the long history of our firm, we wanted to find a partner that could provide a path for our people and business to scale both within the state and nationally." "Risk Strategies, having both a strong presence in key areas within our home state and more than 30 specialty practices nationally, presented both a great business and cultural fit," he concluded.
(Source – GlobeNewswire)
Over the past five years, Tanenbaum-Harber has seen substantial business growth in a competitive climate and challenging market conditions. The agency serves over 5,000 clients in wholesale distribution, real estate, security, hospitality, technology, and non-profit.
About Risk Strategies
Risk Strategies is a private, growth-focused national specialty insurance brokerage and risk management advisor. The company simplifies asset protection, benefits, and liability for businesses and individuals. Since 2018, its employees have ranked it as the 'Best Place to Work across North America'. Insurance Journal named it the 6th Fastest Growing Firm, 8th Largest Personal Lines Broker, 11th largest privately-held P&C Broker, and 16th largest US Broker for 2020. Risk Strategies is happy to be backed by one of the oldest private equity firms and a renowned insurance investor.
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