Alera Group acquires CA-based group plans insurance firm

Insurance Business America | May 09, 2019

Alera Group has acquired Shepler & Fear General Agency (SFGA) in Roseville, CA. The transaction was effective May 01, 2019. SFGA, founded in 2009, specializes in large group, small group, and self-funding plans. The firm says it works closely with their broker partners in a “consultative approach” to increase sales success. Following the transaction, SFGA will join Alera Group’s general agency unit in California, Dickerson Insurance Services. A release said that all SFGA employees will continue to operate out of the firm’s existing location in Roseville under the name Dickerson Insurance Services, an Alera Group Company. “Shepler & Fear is an outstanding firm. We welcome them to Alera Group and Dickerson Insurance Services with excited anticipation of the growth to come as both general agencies extend their presence and their product portfolio throughout California,” said Alera Group CEO Alan Levitz. Levitz added that SFGA’s commitment to providing the best tools to their brokers to ensure an exceptional client experience is “tightly aligned with Alera Group’s mission.” “It is thrilling to join Alera Group, one of the leading national firms in our industry, as we continuously seek to create elevated client experiences for our brokers,” remarked SFGA managing partner David L. Fear Sr.

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CORE INSURANCE

Brightway Insurance is the only insurance agency franchisor named to a listing of the smartest-growing franchises in the country by Franchise Times

Brightway Insurance | January 25, 2022

Brightway Insurance, a national insurance agency franchisor, is the only insurance franchisor and one of only 40 brands Franchise Times recognized on its eighth annual Fast and Serious list of the smartest-growing franchises in the U.S. Brightway ranks No. 23 on the list. The list is derived using a proprietary 10-point formula that includes financial results over the past three years. Click here to review Brightway's profile on Franchise Times' website. "The financial results that put us on this list are the result of the investments we make in empowering our franchisees to reach their potential. They chose Brightway because of the set of tools they can leverage to help people in their communities while building their own business for themselves and their families," - Mark Cantin, Brightway's President and CEO. Brightway's customer service, back-office support and wide variety of carrier partners enable Brightway Agents to ensure their customers are properly covered and cared for while they build their businesses. In traditional agencies, countless hours are spent servicing existing customers' needs. Brightway handles that work on behalf of its agents, empowering them to focus on new policy sales while building a residual income stream that pays every time policies renew. This results in unlimited earning potential in a recession- and pandemic-proof industry. Regardless of background, Brightway's team of experts can help anyone be successful in insurance. In fact, half of Brightway's largest Agencies are owned by people with no insurance background; their average agency book size is $18.3 million. About Brightway Insurance Brightway Insurance is a national property/casualty insurance distribution company with nearly $900 million in annualized written premium, making it one of the largest Personal Lines agencies in the U.S. Brightway's focus is on building unparalleled tools that empower its franchisees to help people in their communities understand and value insurance while reaching their potential in business. Brightway got its start in 2008 and has since grown to 1,200 people in 316 offices across 29 states serving customers in all 50 states.

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INSURANCE TECHNOLOGY

NSI Insurance Group Acquires Majority Stake in InsurTech Startup HoneyQuote

NSI | March 28, 2022

Florida-based digital insurance agency HoneyQuote.com has been acquired by one of the largest independent insurance agencies, NSI Insurance Group – a move that will enable the startup to expand its operations nationally, launch new product lines, and facilitate larger distribution partnerships. HoneyQuote’s machine learning algorithm matches users with property insurance carriers in real-time. Its proprietary search engine allows consumers to shop and purchase homeowners' insurance online. Since its launch in 2019, HoneyQuote has partnered with 30 of the top insurance carriers in Florida and has insured over $1 billion in property value. The startup now has its sights set on expanding nationally with additional insurance products in the works, including condominium-owners, renters, personal umbrella, pet, and auto insurance. We could not be more thrilled about the acquisition, Partnering with such an established player in the market with similar entrepreneurial roots poises HoneyQuote to grow exponentially.” HoneyQuote co-founder Franklyn Taveras. We’ve designed a digital experience that lets online shoppers compare real quotes and purchase policies instantaneously from a wide range of regional, national, and technology enabled insurance providers. With NSI, we’re able to deliver this seamless experience to customers across new geographies, products, and embedded partnerships.” Sean D’Sa, HoneyQuote’s co-founder and Chief Technology Officer. NSI Insurance Group’s acquisition of HoneyQuote marks its entrance into the InsurTech space, where the firm’s CEO Oscar Seikaly believes the industry is heading. About NSI Insurance Group NSI Insurance Group is among the largest privately-owned insurance brokerage firms. Founded in 1958, the firm operates in over 85 countries with five business segments, including personal and commercial insurance, employee benefits, and specialty programs. About HoneyQuote HoneyQuote is a digital insurance agency powered by a proprietary search engine allowing clients to compare and purchase insurance coverage in an online marketplace. Licensed in Florida and Texas, HoneyQuote’s products include homeowners and flood insurance across 30 of the top insurance carriers.

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INTELLECTUAL PROPERTY

Sun Life introduces employer community to ThrivePass to help manage workplace vaccine verification and testing for COVID-19

Sun Life U.S. | January 19, 2022

Sun Life U.S. has reached an agreement with ThrivePass to help employers with vaccine and testing verification, including a dashboard for employers to holistically view the vaccination and exemption status of their employee population. The ThrivePass Vaccine Verification Solution is a turnkey solution that offers real-time reporting, automated tracking and ongoing employee communications in a HIPAA (Health Insurance Portability and Accountability Act)-secured platform. "Employers continue to express interest in employee vaccine and testing, and are seeking out solutions that make their lives easier in maintaining a safe workplace, We are pleased to refer employers to ThrivePass, which can help them ensure the wellbeing of their employees." -Sheila Sokolski, assistant vice president, Sun Life Product Management. ThrivePass offers a "self-serve" format for employees to report their vaccination or test results, which are then verified by ThrivePass. Vaccine exemptions can be customized, and testing verification provides employees with personalized profiles that track their results history. Employers can access an administrative dashboard that tracks real-time employee data. "We are thrilled to have the support of Sun Life, As we broaden our market reach with this important solution that so many employers need right now, working with Sun Life provides us with an opportunity to help more employers navigate this uncertain time." -Dave George, sales executive, ThrivePass. About Sun Life Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2021, Sun Life had total assets under management of C$1.39 trillion. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. About ThrivePass ThrivePass is an innovative technology company dedicated to improving the world of employee benefits. Founded in 2014, they work with clients worldwide to provide a holistic benefits suite that supports employee well-being throughout the employment lifecycle. Other ThrivePass offerings include lifestyle accounts, tuition reimbursement, COBRA, HAS, FSA, HRA and commuter benefits.

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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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