CVS Health to buy Illinois insurance unit

CVS Health | December 02, 2019

Centene is selling its Illinois Medicaid and Medicare Advantage business lines to facilitate its more than $15 billion purchase of WellCare Health Plans. CVS Health has agreed to acquire IlliniCare Health Plan, St. Louis-based Centene said today. Financial terms were not disclosed, but the impact to CVS earnings is expected to be immaterial, Centene said. The Centene unit is one of six private insurers awarded contracts to administer Medicaid benefits in Illinois under a managed care program intended to improve care and save money. The proposed merger of Centene and WellCare—which has been under scrutiny by federal antitrust enforcers—follows WellCare's 2018 purchase of Meridian, another participant in the state's Medicaid managed care program.

Spotlight

The U.S. property and casualty (P&C) insurance market continues to rank among the most competitive in the world, and the competition is only getting stiffer. In an effort to differentiate themselves from the competition, many insurance carriers have turned to aggressive pricing in the form of lower premiums for policyholders. Still others have tried to pull ahead of the pack with self-service claims models or other specialized insurance products.


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INSURANCE TECHNOLOGY

Relation Insurance Services, Inc. Acquires the Assets of Woller-Anger & Company, LLC.

Relation Insurance | April 05, 2022

Relation Insurance Services, Inc. (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of Wisconsin-based Woller-Anger & Company, LLC (“Woller-Anger”). Terms of the transaction were not disclosed. Woller-Anger & Company, LLC (“Woller-Anger”) is a full-service retail insurance agency, and offers commercial lines, personal lines, and life & health coverages for clients across a diverse range of industries. Woller-Anger is headquartered in Elm Grove, WI and will join Relation’s Great Lakes Region. Erv Woller and Bob Anger will continue to lead Woller-Anger under Relation. We are excited to welcome Erv, Bob, and the entire Woller-Anger team to Relation and are looking forward to growing our Midwest footprint with them.” Tim Hall, Executive Vice President and Head of Mergers and Acquisitions for Relation. About Relation Insurance Services, Inc. Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services through its family of brands 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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INTELLECTUAL PROPERTY

Everspan Partners with Branch to Enhance Branch’s Geographic Expansion

Everspan Group | February 22, 2022

Everspan Insurance Company ("Everspan"), Rated A- (Excellent) by AM Best and part of Everspan Group, announced a partnership with Branch Financial (“Branch”). Branch, which uses data, technology, and automation to make home and auto insurance simpler to buy and less expensive, will offer these products in select states throughout the U.S. "We are proud to partner with Branch on our first personal lines program. Not only are we attracted to the innovative consumer experience Branch’s technology delivers, but Branch’s goal of having insurance be a force for good aligns with our corporate values." -Wyatt Blackburn, President of Everspan Group “Everspan has the insurance expertise and financial backing that will enable Branch to continue our record growth, providing industry-leading service to new customers, Our goal is to use our insurance products to do good across the country, and Everspan will help us meet that goal.” -Steve Lekas, Cofounder and CEO of Branch. Since launching in 2019, Branch has expanded at an unprecedented speed while helping members save an average of $548 a year. Branch’s revolutionary two-questions-to-bind sales process leverages technology and automation to let consumers bundle their home and auto insurance quicker than ever before. About Everspan Group Everspan Group is a specialty property and casualty insurance platform which operates nationwide on an admitted and non-admitted basis. The companies which comprise the Everspan Group are wholly-owned subsidiaries of Ambac Financial Group, Inc. (NYSE:AMBC), a financial services holding company. About Branch Branch is home and auto insurance that’s simple to buy and built for savings. Through its revolutionary instant-bind capability, Branch removes all of the friction associated with getting covered, helping consumers bundle their home and auto with ease. Built as a reciprocal exchange, Branch taps into the power of community to make insurance more accessible and affordable for everyone. Branch was launched in 2019 by insurance veteran Steve Lekas and tech entrepreneur Joe Emison, and is headquartered in Columbus, Ohio. Branch is underwritten by the Branch Insurance Exchange, Everspan Group and General Security National Insurance Company (GSNIC) and backed by SCOR SE.

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INSURANCE TECHNOLOGY

Aflac partners with NeuroFlow to enhance Group Long-Term Disability offering with innovative mental health solution

NeuroFlow | February 25, 2022

Mental health and emotional well-being challenges are on the rise, and that's why Aflac, a leading provider of supplemental insurance in the U.S., entered into a strategic relationship with NeuroFlow that adds an innovative mental health solution designed to help individuals screen and monitor existing and undetected behavioral health conditions. With NeuroFlow, employees are empowered through self-service resources that provide insight into the "what" and "why" of their wellness plans to help reduce the impact of behavioral health conditions. "According to the American Psychological Association, 67% of Americans report increased stress over the course of the pandemic, creating a tremendous need to proactively address mental and emotional health challenges, particularly in the workplace, We are excited to partner with NeuroFlow to offer a solution that increases value to our customers before they have ever filed a claim. This program will undoubtedly help people navigate daily stresses, especially as the pandemic continues to shine a spotlight on the need for greater mental and emotional well-being." -Aflac Senior Vice President, Premier Life, Absence and Disability Solutions, Scott A. Beeman. The NeuroFlow solution is designed to help fill gaps that may exist in an employer's behavioral health program by proactively detecting potential issues while also offering digital educational content for general wellness, as well as for conditions like depression, anxiety, sleep disorders and more. To get ahead of preventable adverse events before an individual's condition worsens, NeuroFlow's Response Services provide high-touch telephonic outreach to AI-identified, high-risk individuals to route them to the appropriate level of care. "Organizations like Aflac are setting a new standard of care for their customers by supporting the overall mental wellness of employees, We're thrilled to work with innovative organizations, like Aflac, as they embrace behavioral health, help close the gaps in care, challenge the stigma around mental health, and support customers in a holistic way." -NeuroFlow CEO Chris Molaro. Through its initial offering beginning in Q3 of 2022, NeuroFlow will be available to new and existing clients that have fully insured Group Long-Term Disability policies with more than 1,000 covered lives. Aflac's goal is to be a market leader by providing NeuroFlow to clients meeting these criteria. By offering NeuroFlow widely to qualified accounts, Aflac aims to support and improve employee health. NeuroFlow creates a digital experience that offers tailored activities and assessments to help individuals improve their health and track their progress. These services are not a substitute for treatment, psychological or physician advice. NeuroFlow may not be available in some states in connection with this partnership. ABOUT AFLAC INCORPORATED Aflac Incorporated (NYSE: AFL) is a Fortune 500 company helping provide protection to more than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading supplemental insurer by paying cash fast when policyholders get sick or injured. For more than six decades, insurance policies of Aflac Incorporated's subsidiaries have given policyholders the opportunity to focus on recovery, not financial stress. In the U.S., Aflac is the number one provider of voluntary/worksite insurance products. Aflac Life Insurance Japan is the leading provider of medical and cancer insurance in Japan, where it insures 1 in 4 households. In 2021, Aflac Incorporated was proud to be included as one of the World's Most Ethical Companies by Ethisphere for the 15th consecutive year. Also in 2021, the company was included in the Dow Jones Sustainability North America Index and became a signatory of the Principles for Responsible Investment (PRI). In 2022, Aflac Incorporated was included on Fortune's list of World's Most Admired Companies for the 21st time and Bloomberg's Gender-Equality Index for the third consecutive year. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol. Investors may learn more about Aflac Incorporated and its commitment to ESG and social responsibility at investors.aflac.com under "Sustainability." About NeuroFlow NeuroFlow provides best-in-class technology and care services for the effective integration of behavioral health. NeuroFlow's HIPAA-compliant platform supports over 14 million users across 300 health systems, payors, and organizations, helping them capture behavioral health insights and take action to proactively manage individuals and populations holistically.

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LIFE INSURANCE

SCOR and Its Subsidiary ReMark Announce a Partnership With Atidot on a New In-Force Performance Solution for Life Insurers

SCOR | April 25, 2022

SCOR and its subsidiary ReMark announce that they have signed a partnership agreement with Atidot on a solution designed to increase in-force business value for life insurers. The innovative digital solution will deliver significant value for the partners’ clients by better predicting policyholder behavior and developing engaging marketing strategies to retain customers. A global reinsurer, SCOR continues to leverage its industry expertise and collaboration with ecosystem partners to design and offer innovative solutions to its clients that help drive growth, solve key business problems, and achieve strategic objectives. SCOR believes that it’s not enough for a reinsurer to provide competitive reinsurance in today’s market. This partnership reflects our commitment to foster solutions that add value to our clients, and to ensure that life insurance meets the needs of more consumers in a personalized and engaging way.” Rick Pretty, Senior Vice President and Head of Knowledge Commercialization at SCOR. The solution combines Atidot’s artificial intelligence and data modeling platform, with ReMark’s solid marketing expertise and consumer insight. Insurance companies can expect to better engage with customers, improve retention of existing policies, optimize policyholder coverage and increase the value of their in-force business. The partners have a strong track record in the U.S. market. This partnership provides a unique solution in the industry, Our predictive modeling is based on advanced data science and enriched data that creates a whole new level of engagement opportunities for customers and advisors. It’s a win-win.” Dror Katzav, CEO and Founder of Atidot. Because carriers’ business objectives and distribution needs vary, this new solution was designed to be customizable and flexible. Atidot will first score carrier data sets to identify policies that, for example, are likely to lapse in the next four to six months. ReMark will then use this analysis to develop appropriate marketing campaigns aimed at proactively preventing lapse and following up on those leads with a high propensity to buy. The solution can be easily adapted to also identify opportunities within a customer database for upselling and cross-selling. It is end-to-end, and includes insurer and agent-branded communications, as well as personalized marketing and sales execution strategies. We are proud to bring ReMark’s proven experience of engaging end-consumers to the table, having run over 12,000 campaigns to date. This solution is easy to implement for carriers and I’m excited to see how it will improve our clients’ business outcomes.” Steve Gaertner, Senior Vice President, Distribution Strategies for ReMark. About Atidot Atidot is a cloud-based AI and predictive analytics solutions provider for life insurance companies. Our data-driven turnkey solutions directly impact companies across the value chain, help them serve their customers better, and generate new revenue streams. Founded by a team of data scientists and actuaries, Atidot works with leading carriers in North America and Europe to optimize their book of business. Atidot has offices in California, the UK, and Israel and was awarded by Gartner to be ‘Cool Vendor 2019’ in Insurance.’ About ReMark ReMark is a global insurance consultancy helping insurers worldwide grow sustainably. Part of the SCOR Group, since 1984 they’ve reached over 1 billion people with their data intelligence, marketing and technology solutions, and ran over 12,000 campaigns. ReMark is the brand behind the award-winning Good Life health & wellness app and Velogica underwriting software. They work with over 500 insurers, as well as with partners outside the industry, like Garmin, local governments and more. Each year ReMark publishes the largest survey of insurance consumers worldwide—the Global Consumer Study—relied upon by industry leaders to stay informed on current trends. About SCOR SCOR, the world’s fourth largest reinsurer, offers its clients a diversified and innovative range of solutions and services to control and manage risk. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society. SCOR offers its clients an optimal level of security with its AA- rating or equivalent from S&P, Moody’s, Fitch and AM Best. The Group generated premiums of more than EUR 17.5 billion in 2021, and serves clients in more than 160 countries from its 36 offices worldwide.

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Spotlight

The U.S. property and casualty (P&C) insurance market continues to rank among the most competitive in the world, and the competition is only getting stiffer. In an effort to differentiate themselves from the competition, many insurance carriers have turned to aggressive pricing in the form of lower premiums for policyholders. Still others have tried to pull ahead of the pack with self-service claims models or other specialized insurance products.

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