1st Choice Insurance partners with Reclaim Tax UK

Insurance Business America | April 10, 2019

Independent commercial insurance broker 1st Choice insurance has partnered with tax credit specialist Reclaim Tax UK. The collaboration between the Shrewsbury-based firms will combine their respective expertise to roll out a competitive proposition for other organisations. According to the announcement, Reclaim Tax UK and 1st Choice insurance are keen to build on a long-established relationship. “We are very excited to be working closely with Richard Canfer-Taylor (pictured, first from left) at Reclaim Tax UK, as both our businesses are dedicated to providing expert advice that local businesses can trust,” commented 1st  Choice Insurance managing director Jason Martin. “We look forward to meeting many more local companies in the near future, to offer the most beneficial insurance and tax reclaim advice and service.” The brokerage is described as having enjoyed more than half a decade of solid growth while its new ally provides a complete end-to-end service in claiming for tax relief.

Spotlight

The first CRM launch truly changed the way sales were managed. We went from tracking customers on spreadsheets (and even in rolodexes) to tracking them and their attendant opportunities with software. It wasn’t long before reps started to feel the purpose of a CRM was more about preserving their contacts for their replacement than it was about making their lives easier. After all, back then it wasn’t much easier than updating a rolodex!


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INSURANCE TECHNOLOGY

Custard Insurance Adjusters Announces New Dedicated Special Investigation Unit

SIU | March 09, 2022

Custard Companies is pleased to announce the launch of their new dedicated full-service Special Investigation Unit (SIU). Established through their recent acquisition of Specialty Group Inc. (SGI) out of Winter Haven, FL, the investigation unit will operate under the leadership of George Perez, Director, SIU Division. Perez joined Specialty Group Inc. after retiring from a successful long-term career with the Walgreens Company as Corporate Manager for Special Investigations, and prior to that retiring as Master Sergeant with the US Air Force. Both positions provided Perez with a wealth of experience within the surveillance range of services. During his employment with SGI, Perez's experience and expertise in protective service operations, fraud, loss prevention, risk management, surveillance and investigations provided for successful growth of SGI's Surveillance Unit. The SIU Division gives CIA the ability to completely manage a claim file "in house". We have the resources to investigate any "red flags" without moving the file outside of CIA. This "one stop shop" approach will support our Customers without requiring them to go outside of CIA to hire a Private Investigations Company to conduct SIU related activity. We are a full-service Special Investigation Unit with national investigation and surveillance capabilities." Perez The SIU provides nationwide coverage to perform a variety of standalone services related to any investigation, including: Fraud Investigation Surveillance Data Investigation Services (Social Media, etc.) Hospital and Medical Canvass Vehicle/Tag/Registration Searches Background Checks (three levels) Field Adjuster Support. A dedicated SIU division will allow us to further meet our clients' needs through detailed investigative activity and full surveillance capabilities. Not only that, but it will also act as a resource for our field adjusters. This will ensure our clients quickly have access to the most detailed claim information and any red flags encountered during the claims handling process are vetted. We're extremely excited to have the SIU Team on board." Senior Vice President of Operations, R W Custard.

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INSURANCE TECHNOLOGY

InsurTech Carrot Enters Exclusive Partnership with Naver

Carrot | May 19, 2022

Carrot ("Carrot" or the "Company"), a digital insurance platform of South Korea, is pleased to announce that it has entered into an Exclusive Promotion and Distribution Agreement with platform giant Naver Financial Corp. (Naver), whereby Carrot has been appointed to exclusively supply shipment return insurance for the merchants of Naver's online shopping platform (Smart Store). Smart Store is the nation's largest ecommerce marketplace in terms of transaction volume as of current. Compensating for the cost of return shipping and handling of goods, the proposed insurance is a non-traditional product designed to meet the needs of the marketplace sellers, as well as the shoppers. Sellers who purchase the cover are expected to boost their revenue through added marketing advantage, as the online shoppers are provided with extra layer of peace of mind in case they want to return or exchange the purchased items. Likewise, resounding success has been recorded from the pilot test co-conducted by two parties for the duration of four months during the second half of previous year, affirming that Carrot's business model works. Thousands of vendors who implemented the coverage reported 15% jump in sales volume while achieving 31% growth in revenue on average. In addition to the users' overwhelmingly positive responses, a surge in demand for the insurance to cover more shopping categories has been observed. We are excited to be working alongside with Naver, We share Naver's vision of innovating on behalf of clients, and the launch of this service is one way how we address customers' pressing needs. We are distinctively positioned to develop and deliver digital insurance solution to Naver that will broaden access to small online business owners and help them grow and protect their businesses. We look forward to continually introduce series of platform integrated solutions through our long-lasting partnership." Speaking of the recent partnership announcement, Paul Jung CEO of Carrot. Carrot anticipates that the concept of integration of insurance services into e-commerce transaction will expand to other "ecosystem partners". 11th Street, the 2nd largest shopping and open-market platform of Korea has started distributing Carrot's shipping return cover since 2020 and has plan to promote for wider adoption by the vendors to bolster their profitability, according to the firm. Not to mention that Amazon last year has inked exclusive partnership with 11th Street to enter the lucrative Korean e-commerce market. About Carrot General Insurance Corp. Based in Seoul Korea the company was established through a JV partnership with some of the big-name investors, including Hanwha, SK Telecom, Hyundai Motor Group, Altos Ventures, and Stic Investments. Being the nation's first fully-licensed 100% digital insurance carrier, Carrot has been disrupting the market with innovative products and has outpaced its global peers in terms of the speed of acquiring customers to its usage-based insurance program. The company's successful footprint owes itself to strong customer value propositions, including easy and accessible insurance, transparent premiums, AI automated accident registration and prompt dispatch of help services all made possible via proprietary technology. The company is also pursuing business in Pay-As-How-You-Drive auto insurance, which assesses the premiums as per customer's driving patterns and behavior through sensor data analytics. In line with the company's open innovation strategy, Carrot has 100+ national & international partnerships, including South Korean government unit that oversees national highways and traffic controls.

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CORE INSURANCE

Inszone Insurance Services Acquires Pacific Redwood Insurance Agency in Pacifica, CA

Inszone | January 15, 2022

Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced the acquisition of Pacific Redwood Insurance. Pacific Redwood Insurance Agency was incorporated in 2002 under the direction of agent Lynne Fried. The agency grew organically through the years, with a focus on providing first-class service to both personal and commercial insurance customers. Pacific Redwood Insurance Agency customers will continue to receive the service they are accustomed to under the Inszone Insurance brand. “Pacific Redwood Insurance Agency has done phenomenal work connecting and growing locally, We are looking to build and connect Pacific Redwood customers to our expanding network in California and provide them with expanded resources to better serve their needs.” -Norm Hudson, CEO of Inszone Insurance The acquisition continues Inszone Insurance Services rapid growth within its home state of California as the company continues to broaden its national footprint and continues its steady growth trajectory. A number of important transactions will be completed and announced in the upcoming months. About Inszone: Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 26 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

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ANNUITIES

King Insurance expands into Georgia with the acquisition of Piedmont Insurance Associates

King | December 24, 2021

King Insurance ("King" or the "Company"), a fast-growing full-service insurance brokerage firm that provides a variety of property & casualty as well as employee benefits solutions, announced the acquisition of Piedmont Insurance Associates ("Piedmont"). Piedmont has offices in Covington, GA and Newnan, GA and marks King's first expansion outside of Florida. Piedmont's roots go back to 1948 when it was the Spillers Agency and today is led by David Wilson and Phil Boswell, each of whom merged their respective agencies together in the mid 90's to form Piedmont. Piedmont is a full-service agency offering insurance products to commercial and personal lines customers from its lineup of top-tier insurance carrier partners. Phil, David and their team will continue operating out of their current locations. "We are excited to expand into Georgia with such a high-quality agency, This is an important milestone for us as we execute on our strategy to be a major player in the Southeast." -Chad King, Chief Executive Officer of King Insurance. This acquisition marks King's eleventh acquisition over the past year and the fourth since the Company's partnership with BHMS Investments, LP. The Company plans to continue to broaden its footprint across the southeastern U.S. and expects to announce a number of important acquisitions in the upcoming months. About King: Founded in 1974 and headquartered in Gainesville, Florida, King is a full-service insurance brokerage firm which provides a broad array of property & casualty and employee benefits solutions.

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Spotlight

The first CRM launch truly changed the way sales were managed. We went from tracking customers on spreadsheets (and even in rolodexes) to tracking them and their attendant opportunities with software. It wasn’t long before reps started to feel the purpose of a CRM was more about preserving their contacts for their replacement than it was about making their lives easier. After all, back then it wasn’t much easier than updating a rolodex!

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