UK-based insurtech Inzura expands in Asia

Insurance Business America | October 31, 2019

Inzura, an insurance technology firm based in the UK, has opened new offices in Thailand and Singapore, alongside the hiring of Nicholas Lee (pictured) as business development director for Asia, based in Singapore. According to a statement from Inzura, this expansion will enable the company to take advantage of the growing demand from Asian insurers to embrace technology and take a digital-first, data-driven approach to insurance provision.

Spotlight

US companies of all sizes who establish operations worldwide will find new exposures ranging from operational, financial, strategic, hazard, to regulatory. These companies benefit greatly from multinational insurance programs designed to respond in a way that is consistent with their objectives no matter where in the world a loss occurs. But the thought of developing an insurance program in line with a company’s risk-finance strategy and risk-management needs that complies with local insurance regulations, and provides consistent coverage, loss control, claims services can seem daunting even for the largest, most sophisticated insureds. Fortunately, there are now insurers bringing solutions to the middle market.

Spotlight

US companies of all sizes who establish operations worldwide will find new exposures ranging from operational, financial, strategic, hazard, to regulatory. These companies benefit greatly from multinational insurance programs designed to respond in a way that is consistent with their objectives no matter where in the world a loss occurs. But the thought of developing an insurance program in line with a company’s risk-finance strategy and risk-management needs that complies with local insurance regulations, and provides consistent coverage, loss control, claims services can seem daunting even for the largest, most sophisticated insureds. Fortunately, there are now insurers bringing solutions to the middle market.

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INSURANCE TECHNOLOGY

Farmers Insurance Supports Customers Survived Tornadoes in the Southern States

Farmers Insurance | March 25, 2022

Farmers Insurance® has come forward support customers who have been affected by severe storms, tornadoes, and heavy rainfall in Texas and other portions of the Southern United States. With the help of farmers insurance, customers can file a couple of claims, including Visit Farmers.com or Foremost.com Call their agent Use the Farmers® Mobile App through their smartphone or tablet Text REPORTCLAIM to 29141 Customers who have sustained the damage can even take action as follows: Call the 24-hour claims center: Farmers Claims Contact number: 1-800-435-7764 Foremost® customers can also use the 1-800-435-7764 number for assistance Bristol West® customers can call 1-800-274-7865 for support Spanish-language claims assistance is accessible to Farmers customers by calling 1-877-RECLAMO (877-732-5266). Farmers Insurance offers numerous remote and virtual solutions to make the claims process more accessible for customers. Customers who file a claim can work directly with trained claims professionals. The professionals would guide them through the claims process, and customers can get their claims approved accordingly. Farmers Insurance is a group of insurers providers. They offer insurance options for homes and small businesses, automobiles, and many other insurance and financial services products.

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Lockton Rolls Out CyberCube’s Broking Manager

Business Wire | October 12, 2020

Lockton, the world’s largest independent broker, is rolling out CyberCube’s Broking Manager, the cyber risks analytics platform for insurance intermediaries. Established in 1966, Lockton has over 60,000 clients globally and is the world’s eighth-largest insurance brokerage. The business has over 100 offices in over 125 countries. CyberCube has designed and tailored Broking Manager specifically to the needs of the insurance broking community. It offers a streamlined approach to generating financial exposure impact that helps clients make informed decisions on coverages and limits. Broking Manager will allow Lockton’s teams to quantify the sources and financial impact of cyber risk exposure and educate clients accordingly. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking.

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ANNUITIES

MetLife and Vision Benefits of America Collaborate with Howell Benefit Services, Inc.

WEBSURANCE | December 02, 2021

Howell Benefit Services, Inc. (HBS), and Howell Benefit Technologies LLC (dba RATECentric) have released WEBSURANCE, a fully insured health and welfare benefits trust featuring top ranked group insurance companies for carriers, producers, and employers. In conjunction with the Trust, a paperless, digital WEBSURANCE platform was also launched enabling carriers and producers to offer employers superior level benefit plans, competitive pricing, and extended rate guarantees. HBS is pleased to announce MetLife and Vision Benefits of America (VBA) as the first multi-year Trust participants offering group dental and vision benefits, respectively, to employers nationwide with products and plan designs typically found in the enterprise market. We continue to enhance our online presence utilizing our digital technology by adding these two market leading insurance carriers, We've had exceptional success for over 25 years building and managing digital websites and have been a pioneer in API integration for several top ranked group carriers. Our technology has enabled the carriers we serve to measure and demonstrate the efficiencies and profitability of outsourcing online quoting, case submission, premium billing, sales activity, license tracking and commission payment in a single application. - Roger Howell, President of HBS. Our real time quoting platform's success, which has been online nationwide since 2013 and now serving two of the top five national group insurance carriers, illustrates how our team has combined deep-rooted benefits knowledge, four decades of TPA experience, and integrating it with our proprietary and commercially successful digital platform technology." Howell has provided customized, multi-carrier and premium billing technology, producer appointment and license tracking as well as commission payment technology for carriers and producers since 2000. "By utilizing WEBSURANCE's digital solution we are able to streamline our offerings for customers and provide them with access to competitive benefit plan options, instant rates and case submission, pricing and backroom support as a result of our collaboration with Howell." - Cynthia Smith, SVP of Regional Business at MetLife VBA's Vice President, Matt Cuomo stated, "The WEBSURANCE Trust is the perfect vessel for us to showcase our national vision plan benefit portfolio. The quoting, case submission and plan administration features offered by WEBSURANCE are unprecedented, based on our experience." The WEBSURANCE Benefits Trust will be offering additional online group and voluntary benefit plans in 2022, further reducing quoting and administrative expenses while, at the same time, increasing closing ratios for carriers and producers. About WEBSURANCE The WEBSURANCE Benefits Trust is a fully insured, national group insurance trust that covers hundreds of employer groups, with the capacity and scalability to offer a variety of carriers' product lines. Eligible group insurance products include health, dental, vision, life, disability, voluntary life, disability, critical illness, hospital indemnity, and accident. WEBSURANCE is administered by Howell Benefit Services, Inc. (Howell), located in Wilkes-Barre, Pennsylvania. Howell is a nationally recognized, online, Third Party Administrator (TPA) in business since 1982.

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