CAC Specialty provides financing to clients facing coronavirus-related liquidity pressure

CAC Specialty | March 20, 2020

CAC Specialty has entered into a strategic partnership with funds managed by affiliates of Fortress Investment Group. The strategic relationship allows CAC Specialty to help with the capital needs of its clients with their acquisitions, recapitalizations, growth capital and other financing transactions. Fortress is ready to offer short-term financing for CAC clients experiencing liquidity pressure due to both the direct and indirect impact of the COVID-19 pandemic. “During this challenging time, we are confident in our ability to help our clients solve problems,” commented CAC Specialty and Cobbs Allen president Bruce Denson Jr. “Our relationship with Fortress gives us significant tools to help our clients weather this storm.”

Spotlight

This document is not meant to be an exhaustive analysis of all provisions of the law that may impact independent insurance agents and brokers, as the law’s effect will vary depending on the individual circumstances of tax filers. Big “I” members are encouraged to consult with their accountants, lawyers and other relevant professionals related to tax and estate planning based on their individual circumstances. In addition, the changes that the law imposes are extensive, and how the reforms in their entirety ultimately impact the decisionmaking and subsequent tax liability of businesses and individuals remains to be seen.


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CORE INSURANCE

Agentero Expands Offerings for Agents

Agentero | December 16, 2021

Agentero, the digital insurance network, has expanded its personal and commercial offerings for independent agents, announcing new integrations with four leading insurance markets including Ethos, Cowbell Cyber, Thimble and Bamboo Insurance. The firm currently connects agents with 19 markets providing quoting, communication and automation tools so agents can efficiently write more new business. Agentero focuses on reinventing the insurance buying process, making insurance more accessible to consumers and small businesses. New agents can sign up with Agentero in 10 minutes or less, and once they do, new insurance applications can be completed in seconds. "Insurance has so many opportunities to be faster and more convenient. We're focused on driving insurance innovation in distribution, something we plan to continue in 2022, We are also reducing the barriers to entry for new agents. Insurance has traditionally been a tough business to get started in, and we're connecting agents to a variety of insurance products quickly." -Luis Pino, CEO of Agentero. The firm has added the following insurance products to its platform: Ethos provides life insurance Cowbell Cyber offers standalone, admitted, individualized, and easy-to-understand cyber insurance Thimble offers small business general liability insurance Bamboo Insurance offers homeowners and dwelling fire Independent insurance agents use Agentero to access modern carriers and to boost their revenue. Agents save time and deliver a superior customer experience through efficient product distribution. About Agentero With more than 1,000 insurance agencies, Agentero uses robust data and analytics enabling agents to proactively offer insurance choices to customers at the right time, every time, mitigating risks for consumers while growing relationships and revenue for agents. Founder and CEO Luis Pino was the first employee at insurtech CoverWallet, and has also worked for McKinsey & Co.

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INSURANCE TECHNOLOGY

Heffernan Insurance Brokers Introduces Women Empowered

Heffernan Insurance Brokers | April 06, 2022

Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States, announces a new resource group called Women Empowered (WE). WE is open to all interested in participating and aims to increase confidence and competence, encourage a positive self-brand, provide an opportunity to expand their network, support career planning, and offer guidance on how to align their work and life goals. Women Empowered is the next iteration of the Women of Influence (WOI) group founded at Heffernan Group by Leticia Trevino, Elizabeth Bishop, and Jennifer Mahoney, who demonstrate professional merit and leadership in their careers. We are united, connected, and gather as one integrated front. Together WE are empowered. As women, we have so much to offer. WE is focused on creating opportunities and forums for us to share, learn, and grow as we strive to be the best versions of ourselves." Jen Mahoney, Chief Operations Officer, Heffernan Insurance Brokers. We are all enriched by providing a place and space for women from different backgrounds to come together and support each other along life's journeys while educating men on the challenges women face." Leticia Trevino, Chief Insurance Compliance Officer, Heffernan Insurance Brokers. About Heffernan Insurance Brokers Heffernan Insurance Brokers, formed in 1988, is one of the largest independent insurance brokerage firms in the United States. Heffernan provides insurance and financial services products to a range of businesses and individuals. Headquartered in Walnut Creek, Calif., Heffernan has offices in San Francisco, Petaluma, San Jose, San Mateo, Truckee, Bakersfield, Woodland Hills, Cypress, Los Angeles and Irvine, CA; Phoenix, AZ; Portland, OR; Seattle, WA; St. Louis, MO; Philadelphia, PA; and London UK.

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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

CRMNEXT launches its new Open Communication Platform (OCP) to power continuous channel experience

CRMNEXT | February 07, 2022

CRMNEXT, the world's leading digital technology solution for the banking and insurance industry, has launched Open Communication Platform (OCP) technology to accelerate customer delights, personalized products, service delivery and build loyalty through digital first experiences. As banking and financial institutions embrace a "serve and sell anytime, anywhere" mentality, digital experiences are becoming critical. Open Communication Platform (OCP) helps enterprises move to a zero ops model, powered by one & done processes that can fundamentally do back-office work with STP and smart AI. This delivers a modern customer service and engagement platform for banks, financial services, and insurance providers powered with out-of-box AI capabilities. Channels that OCP enables: OCP for text: CRMNEXT customers can seamlessly plugin new channels like WhatsApp, twitter, google business messenger, Facebook, chatbots, voice triggered chatbots and more OCP for voice: Clients can integrate with voice telephony channels like AWS connect, CTI, IVR, WebEx, Avaya and more, greatly enhancing the capabilities and efficiency of your contact centers Some of OCP capabilities include: Real time Business Fabric: Deliver concierge like experience with more real-time actions, intelligence and seamless handover across channels while preserving the context of the conversations. SoftPhone Integration: Embed a third-party dialer to the action tray of your agent workbench's console view. AI-driven Knowledge Base: Dynamic solutions to customer queries. AI-driven Insight Cards: AI driven product offers, insights from customer interactions. Sentiment Analysis: Proactively identify customer emotions with AI driven sentiment analysis. Conference Chat with Supervisor: Agents can now consult their supervisor in real time. Connected Workspace: Increase in customer engagement rates through connected workspace, that includes functionalities such as Facebook chat integration, chats in console view, speech to text recognition and more. "Across every business function and industry, our customers are redefining their customer, employee, partner and product experiences. Open Communication Platform (OCP) continues to expand our vision of enabling companies realize speed, agility and efficiency in customer engagement. OCP creates a more connected customer experience by delivering instant connect, instant response, instant delight and significantly boosting first time resolutions." -Mr. Sushil Tyagi, Director, CRMNEXT

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Spotlight

This document is not meant to be an exhaustive analysis of all provisions of the law that may impact independent insurance agents and brokers, as the law’s effect will vary depending on the individual circumstances of tax filers. Big “I” members are encouraged to consult with their accountants, lawyers and other relevant professionals related to tax and estate planning based on their individual circumstances. In addition, the changes that the law imposes are extensive, and how the reforms in their entirety ultimately impact the decisionmaking and subsequent tax liability of businesses and individuals remains to be seen.

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