CORE INSURANCE, INSURANCE TECHNOLOGY
Falvey | February 28, 2023
On February 27, 2023, Falvey Insurance Group (Falvey) launched inland marine coverage to its existing product offering. With the natural extension, it has on board an experienced team to establish this inland marine product in the insurance market.
The list of the experienced team members and their respective designations in the company is as follows:
Ed Helfers – Principal, Inland Marine
Lisa Uzzo – Principal, Inland Marine
Joanne Stewart – Cicero – Vice President, Claims, Inland Marine
Maureen Connelly – Associate Vice President, Inland Marine
Thomas Helfers – Associate Vice President, Inland Marine
Bob Sundberg – Manger Underwriting Operations, Inland Marine
Its premium product provides excellent coverage with additional value-added services at no extra charge. With its experience in the insurance market, it has developed relationships with its customers and brokerage partners. It has always addressed the urgent needs of the clients and offered solutions that are beyond their expectations. With one broker agreement, clients have access to complete Falvey Insurance Group's products with the universal claim and loss control experience. In addition, clients experience similar quality service from any of its underwriting teams.
Chief Underwriting Officer of Falvey, Mike McKenna said, "We are excited to have Ed, Lisa, Maureen, Thomas, Joanne, and Bob join Falvey to lead our newest product offerings in the Inland Marine marketplace. This group is uniquely qualified with substantial experience across underwriting, policy administration as well as claims enabling a fast-to-market launch." He added, "We are excited for the opportunity to join Falvey and build a product from the ground up especially with an organization that has an aligned passion for success and strong work culture. As Falvey is already growing in marine and transportation markets; expanding into Inland Marine and related property products will assist in continuing the expansion in the specialty space."
(Source – Cision PR Newswire)
About Falvey
Headquartered in North Kingstown, Rhode Island, Falvey, an insurance services provider, has connected insurance brokers, clients and agents worldwide since 1995. It provides services for insurance claims, underwriting, loss prevention, cargo insurance, pollution insurance, shipper insurance, stock throughput, transportation, and logistic liability. In addition, its wholesale division offers supplement products like a product recall, motor truck cargo, and builder's risk. It specializes in solutions for freight, supply chain, logistics and transportation. Its underwritings include three significant segments; general cargo, life sciences, and technology. In addition, it offers full-value, all-risk domestic and international shipping insurance through an API integration with the client's existing shipping software.
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CORE INSURANCE, INSURANCE TECHNOLOGY
Inszone | February 15, 2023
On February 14, 2023, Inszone Insurance services announced its acquisition of Sonora Insurance Agency. This acquisition will allow Inszone Insurance Services to grow within California and broaden its national footprint while continuing its steady growth.
Headquartered in Sonora, California, Sonora Insurance Agency has been delivering insurance solutions in its location since 1987. It developed through organic reach and established its prominent place within the Sonora community. It specializes in Auto, Business, Home, and Worker's compensation. This transaction will enable Sonora Insurance Agency employees to serve Inszone Insurance clients through their current Sonora location without interruption. Additionally, it provides personal and commercial insurance, auto, group benefits, umbrella, motorcycle, condo, and boat insurance.
Kristina Eaton took over Sonora Insurance as a second-generation agency owner in 2004. With about 25 years of experience, she expanded the agency's commercial insurance space and served Sonora and the surrounding areas. She is specialized in commercial and personal lines insurance with both NV and CA license.
CEO of Inszone Insurance Services, Chris Walters, said, "We are excited to continue growing our footprint in the central region of California with the acquisition of Sonora Insurance Agency. The work Kristina and team have done in the region is incredible, we look forward to supporting them with the vast resources available through Inszone."
(Source – Business Wire)
About Inszone
Headquartered in Sacramento, California, Inszone, a full-service insurance brokerage firm, has provided property and casualty insurance with employee benefits solutions since 2002. It continues to grow organically through acquisitions due to the support of an experienced management team. It is working at different locations across California and expanding its enterprise throughout the United States. It provides services like group dental and vision insurance, umbrella insurance, group health and life insurance, special event insurance, landlord insurance, renters' insurance, motorcycle insurance, auto insurance, commercial property insurance, general liability insurance, workers' compensation, homeowners insurance, pet insurance, disability insurance, employee benefits, personal and commercial insurance.
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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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