GEICO to temporarily halt some policy cancellations

GEICO | March 24, 2020

To help customers in a financial pinch in the wake of the COVID-19 pandemic, GEICO has announced that it is temporarily pausing cancellation of coverage due to non-payment and policy expiration. According to a company release, the pause will remain in effect through April 30, 2020. On top of the suspension of cancellations, GEICO also has plans to offer flexible, special payment plans to those who need it once normal billing operations resume. “This ongoing situation impacts everyone, and we want our policyholders to have some peace of mind knowing we’ll be there when they need us most,” said GEICO president and CEO Todd Combs.

Spotlight

In practice, of course, things are more complicated. Effective translation necessitates a nuanced understanding of (at least) two languages and cultures, both source and target. It requires an understanding of the original content’s goals. It mandates a fluency in tone and subtext as well as vocabulary and grammar. In short, it requires a highly competent person to effect resonance. In theory, companies could (and some do) perform translation and localization work in-house. But the reason so many choose not to is because a language service provider (LSP) like Lionbridge can help simplify processes (and, in the long run, reduce costs) when translation and localization get really complicated.


Other News
ANNUITIES

New Life Insurance Focused Podcast Series Aims to Unpack Digital Transformation

Equisoft | March 31, 2022

Equisoft, a leading global digital solutions provider to the insurance and financial industry, proudly announced today the launch of a new podcast series for life insurance executives entitled "Life Accelerated". Hosted by esteemed insurance observer and commentator Anthony O'Donnell and presented in partnership with Insurance Innovation Reporter (IIR), this podcast series will tackle the insurance industry's unique challenges and how technology and modernization can deliver solutions. Each episode will feature trends in innovation, C-suite insights into transformation and best practices taken from actual insurer experiences. There's a race on to transform, and those who fall behind are standing to lose their ability to compete—or to be in the game at all, It's a critical and urgent conversation, so we'll be interviewing technology and business executives about their own transformation journeys: how they're going, what our interviewees' companies are investing in, what kind of capabilities they're developing and what kind of timeline they're facing." Anthony O'Donnell, Executive Editor at IIR. Featuring life insurance executives from leading companies such as Ameritas, MassMutual, Mutual of Omaha, New York Life, Northwestern Mutual, and many more, each 30-45 minutes episode will be addressing the specific needs and challenges of insurers when it comes to understanding and adopting technology, and how they can use it to support their business growth. Our goal is to create a learning platform that life insurance executives can access whenever and wherever they want to see what their peers are doing, where the industry is going and go home with some solid takeaways, We're proud and excited to bring another innovative initiative that shows our commitment to pushing the industry forward and to helping all stakeholders accelerate their growth." Jean Sabbagh, Marketing VP at Equisoft. The Life Accelerated Podcast Series will be presented on a bi-weekly schedule starting April 13, 2022, and will be broadcasted on Spotify, Amazon Music, Google and Apple Podcast. The first episode will feature Richard Wiedenbeck, CTO of Ameritas. All listeners are welcome to sign up at equisoft.com/lifeaccelerated to be timely notified as new episodes become available. About Equisoft Founded in 1994, Equisoft is a global provider of advanced insurance and investment digital solutions. Recognized as a valued partner by over 220 of the world's leading financial institutions in 16 countries, Equisoft offers a complete ecosystem of solutions, from innovative front-end applications to extensive back-office services and unique data migration expertise. The firm's flagship products include a SaaS policy administration solution, CRM, financial needs analysis, financial planning, asset allocation, fund and portfolio analysis, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. Equisoft is also Oracle's largest and most experienced partner for the OIPA platform. With its business-driven approach, deep industry knowledge, innovative technology, and expert teams based in Canada, USA, UK, Chile, Colombia, South Africa, India and Australia, Equisoft helps its clients tackle any challenge in this era of digital disruption.

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INSURANCE TECHNOLOGY

Relation Insurance Services, Inc. Acquires the Assets of Dixon Insurance Services, LLC

Relation Insurance | April 04, 2022

Relation Insurance Services, Inc. (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of Arkansas-based Dixon Insurance Services, LLC (“Dixon”). Terms of the transaction were not disclosed. Dixon Insurance Services, LLC (“Dixon”) is a multi-line P&C agency with a heavy focus on commercial lines within the farm and agriculture industry. Dixon is headquartered in Lake City, AR. The Company will fold into Relation’s Central Region and will report up through Mark Kochner. We are proud to welcome the entire Dixon team to Relation and are excited about expanding our presence in Arkansas with them, Dixon brings expertise in the agriculture industry, and we look forward to serving their customers and growing our presence throughout" 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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INSURANCE TECHNOLOGY

HUB INTERNATIONAL LAUNCHES NONPROFIT SPECIALTY PRACTICE

HUB International | May 16, 2022

Hub International Limited (HUB), a leading global insurance brokerage and financial services firm, announced today the launch of its Nonprofit Specialty practice, HUB's 10th Specialty in five years. The formation of the practice formalizes HUB's capabilities in serving the unique risk management, insurance and human capital needs of associations, arts and cultural entities, foundations, public advocacy, religious and other charitable organizations. HUB has a long-proven track record of successfully assisting nonprofit organizations and creating a new Nonprofit Specialty practice formalizes our work in this area, Nonprofits face unique operational, financial, and governance challenges, and our specialized brokers will help them flourish by offering proactive consultation and advice to protect against all aspects of their risk." Marc Cohen, CEO and President of HUB International. HUB's nonprofit insurance veteran Scott Konrad will lead the new specialty practice. He will be responsible for galvanizing HUB's decades of nonprofit client experience, industry relationships and sector engagement to develop innovative risk management, insurance and human capital products and solutions. Konrad is a nationally recognized author and speaker on nonprofit risk management themes with direct experience as a servant leader of nonprofit civic, religious and professional organizations, including the Nonprofit Risk Management Center's Corporate Advisory Council. According to Independent Sector, nonprofits make up 10% of the American workforce, the third largest in the U.S., behind retail and manufacturing. In Canada, there are more than 170,000 charitable and nonprofit organizations, and over 85,000 of these are registered charities recognized by the Canada Revenue Agency. According to Statistics Canada, nonprofits represent nearly 13% of all jobs in Canada. Nonprofits face increasing pressure to demonstrate operational efficiency and prudent stewardship, which means maximizing value at every turn -- in reducing risk, safeguarding their assets, and taking care of their people, We understand the charitable sector's challenges, needs, and temperament, and use our skills and resources to tackle issues such as board protection, talent recruitment and retention, volunteer risk management, and more. By lightening the burden for busy nonprofit leaders so they can focus on mission, we're an effective catalyst for the greater good." Konrad. Having a dedicated practice supports our effort to build out more specialized products, expand carrier relationships and provide industry specific integrated P&C, employee benefits and retirement solutions for our customers, This is a unique sector of the economy with unique needs, and we are excited to provide specific services to fuel its success." Chris Treanor, HUB President of Programs & Specialties. About HUB International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 14,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.

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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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Spotlight

In practice, of course, things are more complicated. Effective translation necessitates a nuanced understanding of (at least) two languages and cultures, both source and target. It requires an understanding of the original content’s goals. It mandates a fluency in tone and subtext as well as vocabulary and grammar. In short, it requires a highly competent person to effect resonance. In theory, companies could (and some do) perform translation and localization work in-house. But the reason so many choose not to is because a language service provider (LSP) like Lionbridge can help simplify processes (and, in the long run, reduce costs) when translation and localization get really complicated.

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