Benefitfocus launches website to provide options for displaced workers

Benefitfocus | April 24, 2020

Technology provider Benefitfocus has announced the next phase of its recently launched “For You” initiative, which supports employers of customers who have lost their jobs due to the economic impact of the COVID-19 outbreak. The company has launched benefitplace.com, a website that allows users to access a variety of affordable individual and family health plans for employees who have been offered COBRA by their employers but are seeking lower-cost alternatives. The site also offers other products and services to support the wellbeing of displaced workers.
“Connecting America’s workforce to the products and services that improve their health and financial wellbeing is at the core of what we do, and this is more relevant today than perhaps any time in the last 50 years,” said Ray August, president and CEO of Benefitfocus. “We are in a period of severe economic crisis, and many workers fear for their continued health and other benefits coverage. With the launch of benefitsplace.com we’re here for our customers’ employees and their families to continue access to affordable and quality options.”

Spotlight

The blockchain is the technology that can transform the industry. However, it is not as impactful right now, but it does show promise. To get a better understanding, we first need to understand how blockchain impacts or changes in the insurance industry? Also, we need to know which use-cases will have a significant impact in the long run. For insurance companies, blockchain insurance is the newest term that they need to deal with. It will give rise to blockchain insurance companies which will make the most of what blockchain has to offer.


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CORE INSURANCE

CITIZENS NATIONAL ANNOUNCES LAUNCH OF CRITICAL ILLNESS PRODUCT

Citizens National Life Insurance Company | January 24, 2022

Citizens National Life Insurance Company ("Citizens National"), a subsidiary of Citizens, Inc. (NYSE: CIA) announces the launch of its new Critical Illness Coverage product. This will be Citizens National's third product launched in the past 12 months. The company is focused on developing products that provide value and benefits for their policyholders. Citizens National new Critical Illness Coverage product pays benefits directly to the policyholder to assist with added expenses in the event of a qualifying critical illness. The Critical Illness Coverage is unique in that a policyholder with a qualifying illness is directly paid benefits and decides where to spend the money – its uses are flexible and can be used for anything from medical deductibles to everyday expenses such as rent, food or childcare. "We are excited to be launching our third product just months after our Whole Life product Longevity Max. Critical Illness is an exceptional product designed to give policyholders coverage where they need it and help supplement their Health insurance to give them protection if they were to have a critical illness. One of the best features is it gives the policyholder the power to decide where to spend it. We are proud to continue to develop products that can help our policyholders." -Bob Mauldin, President and Chief Marketing Officer of Citizens National Citizens National offers an exclusive, customized service with its understanding of the Spanish and Portuguese languages and the Hispanic culture so customers can be confident in making the most informed decisions. The entire customer and agent experience is provided in a choice of Spanish, Portuguese and English languages. Our broad trajectory and experience in the life insurance market in Latin American, along with our excellent digital and customized service, make Citizens National a top option. About Citizens National Life Insurance Company Citizens National Life Insurance Company is a member of the Citizens, Inc. group of life insurance Companies. Citizens National was incorporated in the State of Texas on June 2, 1965 and began transacting business in 1966. CNLIC is licensed in 9 states. The company gains additional financial stability through the long trajectory and strength of its holding company, Citizens, Inc., which adds value to each of our policies by providing state-of-the-art technology systems, strong investment strategies and streamlined operational leadership. About Citizens, Inc. Citizens, Inc. is an insurance holding company listed on the New York Stock Exchange under the symbol CIA. The Company utilizes a three-pronged strategy for growth based upon worldwide sales of U.S. Dollar-denominated whole life cash value insurance policies, life insurance product sales in the U.S. and final expense and limited liability property product sales in the U.S.

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INTELLECTUAL PROPERTY

Orion180 Hires Christoph Birchler as Chief Financial Officer Orion180 Logo (PRNewsfoto/Orion180)

Orion180 | February 16, 2022

Orion180, a homeowners insurance provider leveraging advanced technology to serve independent insurance agents in the Southeastern U.S., has announced the hiring of Christoph Birchler as Chief Financial Officer. The hiring capped a year of significant growth and business momentum that will carry the company into 2022. Birchler joined Orion180 in December 2021 and is responsible for directing the finance, audit, and treasury functions of the organization. "It's exciting to be part of a team that is truly focused on redefining the Insuretech space while providing customer-centric solutions and competitive products that will deliver unique value to our retail broker partners and insureds, I look forward to being part of Orion180's leadership team to improve on the solid financial foundation the organization has achieved, and further build on the vision and goals the company has set forth for 2022 and beyond." -Christoph Birchler as Chief Financial Officer. Mr. Birchler has more than 25 years of insurance and financial services experience. Prior to his role at Orion180, he served as an executive with Ernst & Young in New York and Zurich. During his tenure there, he led finance and multi-disciplinary teams in the disciplines of property and casualty, health, reinsurance, and M&As. Birchler's experience includes generally accepted accounting principles (US GAAP) and statutory financial reporting, International Financial Reporting Standards (IFRS), internal controls assessment and auditing. "Over the last year, Orion180 experienced tremendous growth, as the organization grew by over 400%. Christoph's experience working with property and casualty carriers across Europe and the US will be a tremendous asset to our team as we continue to scale, We are excited to welcome Christoph to our growing team." -Ken Gregg, CEO and Founder of Orion180. Headquartered in Florida, Orion180 operates in North Carolina, South Carolina, Alabama, Mississippi, Tennessee and Georgia with plans to continue expanding in 2022. About Orion180: Orion180 is a homeowners insurance provider leveraging advanced technology to serve independent insurance agents in the Southeastern United States. Providing a combination of human interaction and unsurpassed technology, Orion180 enables real time quoting, binding, and issue functions in a matter of minutes. The company simplifies the homeowners insurance process, providing products that are innovative, fast, and secure. Its product has an A- A.M. Best rating, which means consumers are protected even for the most severe losses.

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INSURANCE TECHNOLOGY

Relation Insurance Services Acquires the Assets of The Wills Agency

Relation Insurance | May 12, 2022

Relation Insurance Services (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of South Carolina-based The Wills Agency (“Wills”). Terms of the transaction were not disclosed. Wills provides personal and commercial lines insurance solutions to clients throughout South Carolina and is headquartered in Batesburg, SC. James Wills will continue to lead Wills as a part of Relation. The Wills Agency is a great strategic fit for Relation, and we’re excited to welcome James and the entire team, The addition of Wills brings Relation additional strength in both personal and commercial lines products and adds to our existing footprint in South Carolina.” Tim Hall, Executive Vice President and Head of Mergers and Acquisitions for Relation. About Relation Insurance Services Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services across the United States. It is ranked by Insurance Journal within the top 35 largest agencies in the country by revenue and has approximately 1,200 employees across more than 125 locations nationwide. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology.

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CORE INSURANCE

Hilb Group Acquires Tennessee-based Churchill Agency

Hilb Group | January 05, 2022

The Hilb Group announced today that it has acquired the membership interest in The Churchill Agency, LLC from The Churchill Agency Ventures, LLC based in Brentwood, Tennessee. The transaction became effective December 1, 2021. About Hilb Group: The Hilb Group is a leading property and casualty and employee benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. Hilb Group is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group seeks to grow through strategic acquisitions and by leveraging its resources and expertise to drive organic growth in its acquired agencies. The company has completed more than 125 acquisitions and now has over 100 offices in 22 states. Hilb Group is rated as one of the Fastest Growing Brokers by Business Insurance, a Top P/C Agency by Insurance Journal, and one of America's Fastest Growing Private Companies in the Inc. 5000.

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Spotlight

The blockchain is the technology that can transform the industry. However, it is not as impactful right now, but it does show promise. To get a better understanding, we first need to understand how blockchain impacts or changes in the insurance industry? Also, we need to know which use-cases will have a significant impact in the long run. For insurance companies, blockchain insurance is the newest term that they need to deal with. It will give rise to blockchain insurance companies which will make the most of what blockchain has to offer.

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