CopperPoint | January 31, 2022
CopperPoint Insurance Companies, a western-based super regional commercial insurance company, announced today that AM Best has affirmed the Financial Strength Rating of A (Excellent) for CopperPoint Insurance Company and its subsidiaries with a stable outlook. Alaska National Insurance Company has also been added as a new member to Best's rating for CopperPoint Insurance Group. These ratings reflect the strength of CopperPoint's balance sheet, risk appetite and operating results over the last several years. CopperPoint maintains the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), supported by a conservative investment portfolio, favorable reserve development and strong reinsurance program. AM Best is a widely recognized provider of insurance industry ratings and financial data.
"We're pleased with AM Best's review of our enterprise, the resulting rating affirmation, and the rating agency's inclusion of Alaska National within our rating group. Since its acquisition in 2019, Alaska National has become even more integrated with our family of companies and continues to enhance our already strong balance sheet and operating results, The differentiated expertise of our now over 750 employees, enables us to continue offering best-in-class workers' compensation coverage, comprehensive risk management solutions and an expanded commercial property and casualty product offering, while providing exceptional service to policyholders, injured workers and agency partners."
-Marc Schmittlein, President and CEO, CopperPoint Insurance Companies.
About CopperPoint Insurance Companies
Founded in 1925, CopperPoint Insurance Companies, www.copperpoint.com, is a leading provider of workers' compensation and commercial property and casualty insurance solutions. With an expanded line of insurance products and a growing 26-state footprint, CopperPoint is in a strong position to meet the evolving needs of its agents, brokers, and customers. It has $5.1 billion in total assets and an enterprise surplus of approximately $1.6 billion.CopperPoint Mutual Insurance Holding Company is the corporate parent of CopperPoint Insurance Companies, Pacific Compensation Insurance Company and Alaska National Insurance Company. All companies are rated A (Excellent) by AM Best.
Embroker | June 14, 2021
Embroker, the digital business insurance platform that makes getting insured radically simple, announced today that it had raised $100 million in Series C funding. The round was headed by FTV Capital, with participation from HSCM Bermuda and Gaingels and Tola Capital, Canaan Partners, Bee Partners, and MassMutual Ventures. Embroker intends to use the new funding to develop its insurance carrier, transforming the company into a full-stack insurtech.
Embroker's revolutionary platform and products are generating significant market growth and creating industry-leading customer satisfaction. Embroker exceeded $20 million in gross written premium for the first quarter of 2021 across all products and achieved over 100% retention. Year to date, the company's digital products have expanded more than 300 percent, garnering an NPS score of 77. This latest funding announcement will support Embroker Access, a vital component of the company's platform that enables retail and wholesale brokers to deliver Embroker's digital insurance products to customers.
Embroker uses new data-driven underwriting algorithms to analyze better risk and design policies and premiums that protect companies from that risk. This one-of-a-kind algorithmic-based risk management reduces premiums for businesses by up to 20%. The Embroker experience is both digital and personal, depending on whether customers want the convenience of technology or the guidance of experts. Embroker's digital insurance products are underwritten quickly by Embroker's insurance platform and fully backed by A+ rated reinsurers such as Munich Re and Everest Re.
Embroker is revolutionizing commercial insurance by making it very simple for businesses to find the best insurance at the most excellent price. Embroker specializes in industry-specific coverage for the most complicated and inefficient insurance lines, such as Directors and Officers, Employment Practices Liability, Cyber, and Professional Liability. Embroker offers patented technology and predictive modeling to automate underwriting and make the buying process easy, fast, and affordable. Embroker Access enables Embroker's partner agencies and wholesalers to sell all of Embroker's industry-leading insurance products to their customers. Embroker, founded in 2015 and located in San Francisco, has secured more than $140 million in funding from major Fintech and Insurtech investors.
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.
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.
IMG | May 27, 2022
International Medical Group® (IMG®), an award-winning global insurance benefits and assistance services company, is excited to introduce iTravelInsured Essential, a new cost-effective travel insurance offering ideal for price-conscious travelers seeking only the most vital trip protection benefits.
IMG's lowest-priced travel protection program, iTravelInsured Essential allows travelers, such as U.S. residents traveling within the U.S., to protect their prepaid, non-refundable trip costs with the most fundamental travel insurance benefits.
We are thrilled to introduce our new iTravelInsured Essential plan to travelers that have been long awaiting an economical travel insurance option in the market, Customers who purchase iTravelInsured Essential are able to attain essential coverage at a reasonable price and can still have the same Global Peace of Mind® that comes with the other travel and health safety solutions we offer."
Grant Hayes, IMG Director of International Sales – Travel.
The iTravelInsured Essential plan provides limited travel protection with coverage for trip cancellation and interruption, travel delay, and accidental death and dismemberment. The plan also includes access to IMG's 24/7 emergency non-insurance travel assistance service. With this service, travelers are just a call away from IMG's world-class customer service team that can help with lost luggage, emergency translations, emergency cash transfers, and much more.
The iTravelInsured Essential plan is a fantastic addition to IMG's market-leading travel insurance product suite, We know that some travelers want coverage for a select few scenarios, and the iTravelInsured Essential plan provides exactly that."
Amanda Winkle, IMG Chief Commercial Officer.
About International Medical Group® (IMG®)
International Medical Group® (IMG®), a SiriusPoint company, is an award-winning global insurance benefits and assistance services company that has served millions of members worldwide since its founding in 1990. The preeminent provider of travel and health safety solutions, IMG offers a wide range of insurance programs, including international private medical insurance, travel medical insurance, and travel insurance, as well as enterprise services, including insurance administrative services and 24/7 emergency medical, security, and travel assistance. IMG's world-class services, combined with an extensive product portfolio, provide Global Peace of Mind® for travelers, students, missionaries, marine crews, and any other individuals or groups traveling, working, or living away from home.