Direct Line Insurance Group drops out of FTSE 100

Direct Line Insurance Group | September 06, 2019

Bromley-headquartered Direct Line Insurance Group Plc (DLG) will no longer be part of the elite roster of FTSE 100 firms starting September 23. An announcement by global index provider FTSE Russell confirmed that the insurance group, which is headed by chief executive Penny James (pictured), is being downgraded to the FTSE 250 index along with Marks & Spencer Group and Micro Focus International. Taking their place at the FTSE 100 index are Hikma Pharmaceuticals, Meggitt, and Polymetal International. The changes come following the September 2019 quarterly assessment. “The rules-driven, impartial quarterly reviews ensure the indexes continue to portray an accurate reflection of the market they represent and form an essential component to the management of the indexes,” stated FTSE Russell, which is wholly owned by London Stock Exchange Group. Meanwhile, the FTSE 250 index will see nine changes as a result of the review.

Spotlight

Commercial property and casualty carriers face complexities that have historically challenged automation. While line-of-business software effectively automates many aspects of commercial insurance management, a significant amount of critical information needed for decision-making is only available on paper or in other systems. Integrating the right enterprise content management (ECM) solution into your commercial insurance automation strategy will ensure that the right information is delivered when, where and how it’s needed.


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INSURANCE TECHNOLOGY

Custard Insurance Adjusters Announces New Dedicated Special Investigation Unit

SIU | March 09, 2022

Custard Companies is pleased to announce the launch of their new dedicated full-service Special Investigation Unit (SIU). Established through their recent acquisition of Specialty Group Inc. (SGI) out of Winter Haven, FL, the investigation unit will operate under the leadership of George Perez, Director, SIU Division. Perez joined Specialty Group Inc. after retiring from a successful long-term career with the Walgreens Company as Corporate Manager for Special Investigations, and prior to that retiring as Master Sergeant with the US Air Force. Both positions provided Perez with a wealth of experience within the surveillance range of services. During his employment with SGI, Perez's experience and expertise in protective service operations, fraud, loss prevention, risk management, surveillance and investigations provided for successful growth of SGI's Surveillance Unit. The SIU Division gives CIA the ability to completely manage a claim file "in house". We have the resources to investigate any "red flags" without moving the file outside of CIA. This "one stop shop" approach will support our Customers without requiring them to go outside of CIA to hire a Private Investigations Company to conduct SIU related activity. We are a full-service Special Investigation Unit with national investigation and surveillance capabilities." Perez The SIU provides nationwide coverage to perform a variety of standalone services related to any investigation, including: Fraud Investigation Surveillance Data Investigation Services (Social Media, etc.) Hospital and Medical Canvass Vehicle/Tag/Registration Searches Background Checks (three levels) Field Adjuster Support. A dedicated SIU division will allow us to further meet our clients' needs through detailed investigative activity and full surveillance capabilities. Not only that, but it will also act as a resource for our field adjusters. This will ensure our clients quickly have access to the most detailed claim information and any red flags encountered during the claims handling process are vetted. We're extremely excited to have the SIU Team on board." Senior Vice President of Operations, R W Custard.

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CLAIMS

eAssist Dental Solutions Exceeds $1 Billion Insurance Collections for Dental Practices Nationwide in 2021

eAssist Dental Solutions | January 03, 2022

eAssist Dental Solutions, the nation's leading platform for remote dental billing and patient billing services for dental offices, closes 2021 with an A-Plus scorecard across its current client base of more than 2000 general and specialty dental practices, as well as Dental Service Organizations (DSOs). "This year's metrics tell a great story, but the real story is about the people who achieved them, It takes experience, skill, commitment, and tenacity to fulfill our brand promise by collecting 100% of what is rightfully owed to each of our clients. It's not easy. Our dedicated teams and proprietary technology are the best in the business, and our collective results clearly reflect that. I could not be more grateful or more thankful to the dedicated professionals who work so hard to bring peace of mind to practice owners in the form of stronger cash flow, simplified operations and reduced stress." -co-founder James Anderson, DMD. The eAssist platform supports dental billing professionals working remotely across the country. The vetting process to join the eAssist platform includes a rigorous assessment of job knowledge, technical/software acumen, communication and team skills, and entrepreneurial spirit. Only about 35% of applicants meet eAssist's high expectations. Culture fit is also essential, as stated on their website: "To join eAssist, you must align with our purpose, our mission and our values. We're looking for incredible people who are positive, ambitious, servant leaders, caring, growth-oriented and motivated to do the right thing – for fellow team members, for our clients, for the company, and for you." While 2021 results were the best in the company's 13-year history, eAssist's rapid growth trajectory has been acknowledged consistently over the past six years. This year eAssist was named as a fastest growing private company by Inc 5000 for the sixth consecutive year, by MountainWest Capital Network for the fifth year, by Utah Business for the fourth year, and by Financial Times a second time. eAssist also received the HIPAA Seal of Compliance issued by the Compliancy Group. Especially gratifying to the company's management is that eAssist was once again Certified™ as a Great Place to Work®, and named by Great Place to Work® and Fortune as one of America's Best Workplaces in Health Care & Biopharma™, with 92% of employees rating eAssist as a great place to work – 6 points higher than the average U.S. company. About eAssist Dental Solutions eAssist Dental Solutions, a Henry Schein company, is the nation's leading platform for remote dental billing and patient billing services for dental offices. eAssist serves over 2000 dental practices through a unique proprietary technology platform that connects dental practices to vetted dental billing professionals, allowing practice owners to fully outsource their billing department using the eAssist platform. The end-to-end solution enhances a dental practice's revenue cycle management and eases the burden on office staff, ultimately helping practices be more efficient, profitable, and patient-focused.

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LIFE INSURANCE

Glia and Sureify Partner to Transform Life Insurance Carriers' Real-Time Interactions with Policyholders

Sureify | February 21, 2022

Sureify, an insurtech leader working to modernize the life insurance industry with its modular enterprise platform, announced its partnership with Glia, a leading provider of Digital Customer Service (DCS). The integration of Glia's capabilities into Sureify's Lifetime platform will enable insurers to reinvent how they serve and support customers in a digital world. "We're excited to formalize our partnership with Glia, a company we've collaborated with for years, Integrating Glia's Digital Customer Service solution brings chat, voice, video and CoBrowsing technology to our Lifetime platform—which enables insurers to acquire, service and continuously engage with policyholders digitally—giving our partnering carriers an even more streamlined way to provide service to their customers in real time, every step of the way." -Greg Yoder, Head of Business Development at Sureify. Through the integration, insurers' call center representatives will be able to communicate directly with customers via their preferred communication method and guide them using CoBrowsing. This will allow representatives to efficiently access online digital support, resolving issues more quickly as customers complete online applications and service their policies digitally. Advisors will be able to easily collaborate with an underwriting help-desk mid-quote or complex illustration, receiving support without ever having to leave the digital domain. "The life insurance and annuity space is ripe for change in how carriers engage with and guide customers in today's digital-first world, We're excited to officially establish a partnership with market leader Sureify to help their customers offer seamless digital experiences. We're confident this partnership will be a win for all involved: for insurers and their customer service staff, for life and annuity policyholders and advisors in the field, and for the future growth of Glia and Sureify." -Steven Kaish, SVP Product Marketing and Alliances at Glia. About Glia Glia is reinventing how businesses support their customers in a digital world. Glia's Digital Customer Service (DCS) solution enriches web and mobile experiences with digital communication choices, on-screen collaboration, and AI-enabled assistance. Glia has partnered with over 250 banks, credit unions, insurance companies and other financial institutions worldwide to improve the customer experience and drive business results. Named both a Deloitte Technology Fast 500™ company and a Great Place to Work (with a 97% employee satisfaction rating) for a second year in a row, Glia continues to achieve broad industry recognition and customer service thought leadership including publishing the definitive book on DCS with Wiley. The company has raised over $100 million in funding from top investors. To learn more visit glia.com. About Sureify Sureify's mission is to modernize the life insurance industry by helping carriers acquire, service and engage their customers with one enterprise platform: Lifetime. Sureify enables omnichannel sales with LifetimeACQUIRE, a product that drives placement rates via quoting, e-application, automated underwriting and new business transmission. With LifetimeSERVICE, insurers are offering their in-force customers comprehensive self-service portals and native applications. Lastly, LifetimeENGAGE fosters a lifelong relationship between carriers and their policyholders with multifaceted engagement programs and analytics, leading to greater lifetime value of each policyholder. Learn more at sureify.com.

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INSURANCE TECHNOLOGY

Intact Insurance Group USA LLC to Acquire Specialty Managing General Agent Highland Insurance Solutions

Intact Insurance | June 18, 2022

Intact Insurance Group USA LLC (Intact), doing business under the brand name Intact Insurance Specialty Solutions, announced today that it has entered into a definitive agreement to acquire Highland Insurance Solutions ("Highland"), the U.S. construction division of Tokio Marine Highland (TMH), from Tokio Marine Kiln (TMK). Highland is a managing general agent specializing in the builders risk segment of the construction market, and will expand Intact's portfolio of owned distribution assets. The transaction is expected to close in the second half of 2022, subject to regulatory approval and the satisfaction of other closing conditions. The acquisition of Highland is well aligned with our global specialty lines strategy and supports our growth, distribution and outperformance objectives, Highland has established itself in providing specialized insurance and adds a complementary offering to the more than 20 specialty lines available to our brokers and customers. We look forward to welcoming the exemplary Highland team, led by Rick Girden and Kaileigh Bowe, to Intact." T. Michael Miller, Chief Executive Officer, Global Specialty Lines, Intact. Highland will operate as a standalone managing general agent, available to serve the risk management needs of its clients and broker partners through its current select markets, and now additionally though Intact. About Intact Insurance Specialty Solutions: Throughout the United States, Intact Insurance Specialty Solutions' underwriting companies offer a broad range of specialty insurance products through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment and providing distinct products and tailored coverages and services. Targeted solutions include group accident and health; commercial and contract surety; entertainment; environmental; excess property; financial institutions; financial services; inland marine; management liability; ocean marine; technology; and tuition refund. For further information about U.S. products and services visit: intactspecialty.com. Intact Insurance Specialty Solutions is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC, a subsidiary of Intact Financial Corporation (TSX: IFC), the largest provider of property and casualty insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and Ireland. The insurance company subsidiaries of Intact Insurance Group USA LLC include Atlantic Specialty Insurance Company, a New York insurer, Homeland Insurance Company of New York, a New York insurer, Homeland Insurance Company of Delaware, a Delaware insurer, OBI America Insurance Company, a Pennsylvania insurer, OBI National Insurance Company, a Pennsylvania insurer, and The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076.

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Spotlight

Commercial property and casualty carriers face complexities that have historically challenged automation. While line-of-business software effectively automates many aspects of commercial insurance management, a significant amount of critical information needed for decision-making is only available on paper or in other systems. Integrating the right enterprise content management (ECM) solution into your commercial insurance automation strategy will ensure that the right information is delivered when, where and how it’s needed.

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