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.
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.
InsureMyTrip | February 23, 2022
Travel insurance companies have reported a significant increase in travel insurance claims in recent weeks, according to licensed travel insurance agents at InsureMyTrip. With an upsurge in recent claims submissions, travelers should anticipate possible delays.
"Many trips were affected by the Omicron surge and other factors, especially during December and January. Those travelers, who have coverage, are likely in the process of submitting claims to their insurance company. This high volume may lead to subsequent delays,"
- InsureMyTrip Travel Insurance Expert Meghan Walch.
When filing a travel insurance claim, InsureMyTrip says travelers can help prevent additional lag time by understanding requirements in advance and supplying the proper paperwork to the travel insurance company:
Specific forms may be required for each benefit within a policy. If documents are missing, this may cause a claim to be delayed.
Use your travel insurance company's online portal to submit a claim or check the status of an existing claim.
Obtain and save all receipts and documents related to an incident to help verify a claim. Once you return home from a trip, it can be more difficult to obtain documentation from travel suppliers or medical facilities.
For travelers seeking additional help, InsureMyTrip travel insurance customers have access to Anytime Advocates, a claims assistance service.
It's simple. InsureMyTrip finds you the right travel insurance plan, every time. InsureMyTrip is the authority on travel insurance. We are committed to empowering travelers to make the best possible insurance decisions by leveraging our technology, data intelligence, and expertise. InsureMyTrip is rated A+ by the Better Business Bureau.
Medlogix | February 17, 2022
Five Sigma, an emerging leader in cloud-native Claims Management Solutions (CMS), today announced the launch of native integration with Medlogix, LLC, a national leader in U.S. medical claims management solutions. This innovation connecting the two platforms will help insurers to improve decision making, maximize efficiencies, increase ROI and enhance outcomes in medical claims management.
Five Sigma's cloud-native claims management solutions enable property and casualty (P&C) carriers, MGAs, Insurtechs, and self-insurers, to simplify their claims process from first notice of loss to resolution. The partnership with Medlogix provides Five Sigma US-based customers with an out-of-the-box integration to itemize, assess, and aggregate special and general damages for bodily injury claims - to ensure proper, timely settlement and accurate reimbursement while complying with regulations that differ state-by-state.
"Five Sigma is on a mission to simplify the claims journey. Our flexible SaaS solution and open APIs allow us to quickly add new partners and integrations to our claims management ecosystem," stated Oded Barak, Co-founder and CEO of Five Sigma. "We are proud to partner with Medlogix to provide our customers a more comprehensive, accurate and efficient claims process."
According to Craig Goldstein, President of Medlogix, "Our partnership with Five Sigma represents a strategic combination of two technology-driven organizations that share a dedication to providing innovative, streamlined claims management solutions that exceed the expectations of our customers."
Medlogix is a technology-driven, clinically-based medical claims management provider specializing in managed care solutions that deliver exceptional outcomes. Medlogix offers an end to end, integrated medical management solution powered by MyMedlogix™ proprietary technology. Through an exception-based workflow, recommendations from highly qualified medical professionals, and access to a directly contracted network of premier health care providers, Medlogix delivers an efficient, disciplined, and scalable medical claims process suite of solutions. Medlogix develops technology which achieves savings you can measure and see by eliminating redundancies and reducing manual processes. Learn more about the Medlogix story at: www.medlogix.com
About Five Sigma
Five Sigma is a cloud-native, data-driven Claims Management Solution (CMS) with embedded AI/ML capabilities to allow intelligent claims processing for the insurance industry. Five Sigma optimizes claims management by adding automated claims processing workflows, using data modeling and AI to provide smart recommendations, improving adjuster's decision-making, and reducing errors. Leading insurance carriers, Insurtech, TPAs and Self-Insured companies use Five Sigma's CMS to modernize their claims management operations, reduce claims leakage, enhance compliance and improve their customers' experience.
Mphasis | December 27, 2021
Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specialising in cloud and cognitive services, in 2020 announced a deal with the Specialty Broking Segment of The Ardonagh Group ("Ardonagh") - the UK's largest independent insurance intermediary, to transform how they engage with clients, colleagues, carriers and regulators. This project entailed digital transformation, data, automation and managing back- office Operations.
Expanding on this, in 2021, Mphasis and Ardonagh agreed to set up a shared services entity to service middle and back-office functions, while applying digital transformation. To execute on this, Mphasis and Ardonagh, today signed a Business Venture Agreement wherein, Mphasis acquires 51% in Mrald Limited, a company incorporated and registered in England and Wales, with 49% of the equity remaining with Ardonagh. Mrald's inaugural service is Application Development and Maintenance (ADM) functions, with the aim to expansion in two areas:
Insurance operations and technology capabilities;
New clients across the Ardonagh and 3rd party clients in the insurance intermediate market.
Mrald's mission is to deliver innovation combined with operational, technological, and service excellence. Mrald is focused on enhancing broker - client relationships through data-driven insights while allowing brokers to scale for increased client engagement. Benefits to clients include:
Enhanced end customer experience and cost-efficiency.
Best practices in systems, processes, management, offices, and work from home; and
Reduced costs of operations by realising real economies of scale.
Mphasis holds a majority share (51%) with both operating control and full economic interest, as well as bringing their existing offshore expertise to constitute an extended global outsourcing & transformation proposition and capability that can be harnessed to personalise and to meet individual UK customer needs.
"In Mphasis, we have found a partner with capital, expertise, and assets to accelerate our focus on enhancing our digital broking capabilities. This expansion of our existing and long-term relationship is an important step forward in accelerating our shared ambitions."
- David Ross, Chief Executive Officer, Ardonagh Group.
"Having successfully executed at least half a dozen similar transformational partnerships in this industry, we are confident of building a service model for the future and ensuring a 'client-first' approach. Enhancing Broker-Client relationship and experience powered by data driven insights is core to AG. We have been working with AG since 2016 to strengthen their servicing, infrastructure, and client engagement platform. We are excited to elevate our relationship to support future growth by helping augment their operating agility, flexibility and jointly create a service delivery model for the future, This also opens up opportunities for the business venture to attract and service other clients in this space. The global insurance brokers market is expected to grow from $88.16 billion in 2020 to $113.99 billion in 2025*. Together with AG's leadership, we believe we are uniquely positioned to take advantage of the high potential Insurance Intermediary market".
-Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, wage increases in India, our ability to attract and retain highly skilled professionals, our ability to manage our international operations, reduced demand for technology in our key focus areas, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies, and general economic conditions affecting our business and industry. We may, from time to time, make additional written and oral forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
Mphasis (BSE: 526299; NSE: MPHASIS), applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in Mphasis' Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2 TM=1) digital experiences to clients and their end customers. Mphasis' Service Transformation approach helps 'shrink the core' through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis' core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients.
THE ARDONAGH GROUP
The Ardonagh Group is the UK's largest independent insurance broker with global reach. We are a network of over 100 locations across the UK and Ireland and a workforce of over 7000 people. Formed in 2017 and following a series of acquisitions in 2018, Ardonagh today brings together best-in-class brands including Autonet, Arachas, Bishopsgate, Bravo Group, Carole Nash, Geo Underwriting, Price Forbes, Swinton, Towergate and URIS. Our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver solutions that meet our customer needs.