USI Insurance Services Acquires Full Service Insurance Agency of Tennessee

USI Insurance Services | March 03, 2020

USI Insurance Services, a provider of risk management, employee benefit and retirement plan consulting, has acquired Franklin, Tenn.-based Full-Service Insurance Agency, Inc. Founded in 1975, Full-Service Insurance is a middle Tennessee independent insurance agency specializing in commercial insurance, employee benefits and personal risk solutions for businesses and individuals. Terms of the transaction were not disclosed. According to John Pratt, vice president, Full-Service Insurance, its clients will continue to have the opportunity to work with its team of local agents, in addition to gaining access to an expanded suite of tools, solutions and expertise available through the USI ONE Advantage. USI offers property and casualty, employee benefits, personal risk, program and retirement products to large risk management clients, middle market companies, smaller firms and individuals. Headquartered in Valhalla, New York, USI connects over 7,000 professionals from approximately 200 offices to serve clients’ local, national and international needs.

Spotlight

Medical history is handled in many different ways and forms. There are different types of diagnostic tests, patient forms, and check-ups that generate medical data, but none of these is consolidated in a consistent fashion. In the olden days, when patients were handled by family doctors and general practitioners, medical records could be consolidated because a patient would see the same doctor throughout their lifetime. This is a far cry from today’s healthcare system, which is dominated by health maintenance organizations (HMOs) and insurance companies that create a fragmented environment for patient data.

Spotlight

Medical history is handled in many different ways and forms. There are different types of diagnostic tests, patient forms, and check-ups that generate medical data, but none of these is consolidated in a consistent fashion. In the olden days, when patients were handled by family doctors and general practitioners, medical records could be consolidated because a patient would see the same doctor throughout their lifetime. This is a far cry from today’s healthcare system, which is dominated by health maintenance organizations (HMOs) and insurance companies that create a fragmented environment for patient data.

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Sapiens and Munich Re Collaborate to Assist Insurers in Targeting the Commercial Insurance Market

Sapiens | July 23, 2021

Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced today a collaboration with Munich Re, one of the world's leading providers of reinsurance, primary insurance, and insurance-related risk solutions, to provide technology-led consultancy and services to enable primary insurers to serve better the commercial insurance market (small and medium-sized businesses). The commercial insurance market in the United Kingdom is one of the fastest-growing insurance sectors in the country. However, until recently, this market has been underserved, with few insurance packages suited to the segment's specific demands and expectations. Sapiens and Munich Re will collaborate with insurers to help them better target and address this market promptly. The combined solution aims to provide insurers with a modular, scalable technology refresh that allows them to tailor services to the expanding SME sector and actively participate in the post-COVID-19 recovery period. The Sapiens/Munich Re collaboration complements the recent rise in government-backed and retail banking SME support initiatives, such as backed-loan schemes, increased infrastructure spending, tax exemptions, and restart grants, which are fueling the recovery. According to aggregated Companies House registrations, over 200,000 new companies have been established in the UK this year, with the bulk centered on retail, business services, and construction. Because of the industry's push toward digital, coverage explanation, flexible offers, verified self-selection, and how commercial insurers adapt their customer journey are all important. About Munich Re Munich Re is a global leader in reinsurance, primary insurance, and insurance-related risk solutions. Munich Re has exceptional, innovative strength and is a key driver of the insurance industry's digital transformation. Munich Re is one of the world's most sought-after risk partners for businesses, institutions, and private individuals because of its tailor-made solutions and close connectivity to its clients. About Sapiens Sapiens International Corporation enables insurers to succeed in an ever-changing industry. Sapiens provides digital software platforms, solutions, and services to the property and casualty, life, pension and annuity, reinsurance, financial and compliance, workers' comp, and financial sectors. Sapiens has over 35 years of expertise delivering to over 600 organizations worldwide, demonstrating a proven ability to fulfill clients' core systems, data, and digital requirements.

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Hub International Expands Risk Management Capabilities With Acquisition Of The Assets Of Calculated Risk Advisors, LLC In Illinois

Hub International Limited | November 08, 2021

Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Calculated Risk Advisors, LLC (Calculated Risk Advisors). Terms of the transaction were not disclosed. Located in Chicago, Illinois, Calculated Risk Advisors is a boutique risk consulting firm and professional liability insurance brokerage, which supports its clients on alternative risks, complex insurance and errors and omissions. Tom Firestine, Managing Principal, and the Calculated Risk Advisors team will join Hub Midwest West. About Hub's M&A Activities Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.

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INNOVU Group Holding Company Limited Acquired by Arthur J. Gallagher & Co.

Gallagher | June 28, 2022

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