CORE INSURANCE

Hilb Group Acquires Tennessee-based Churchill Agency

Hilb Group | January 05, 2022

pie insurance News
The Hilb Group announced today that it has acquired the membership interest in The Churchill Agency, LLC from The Churchill Agency Ventures, LLC based in Brentwood, Tennessee. The transaction became effective December 1, 2021.

About Hilb Group:
The Hilb Group is a leading property and casualty and employee benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. Hilb Group is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group seeks to grow through strategic acquisitions and by leveraging its resources and expertise to drive organic growth in its acquired agencies. The company has completed more than 125 acquisitions and now has over 100 offices in 22 states. Hilb Group is rated as one of the Fastest Growing Brokers by Business Insurance, a Top P/C Agency by Insurance Journal, and one of America's Fastest Growing Private Companies in the Inc. 5000.

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INSURANCE TECHNOLOGY

Stampede Insurance Services and Bliss Drive Establish New Partnership

Stampede Insurance | April 23, 2022

Stampede Insurance Services, an independent insurance agency based in Pasadena, CA, is happy to announce its new partnership with Bliss Drive. Bliss Drive is a well-known digital marketing company specializing in B2B inbound lead generation solutions. One of the key products offered by Stampede Insurance in Pasadena is general liability insurance. They want to point out that every business is exposed to the risk of accidents and injuries happening on the business premises. General liability insurance coverage can provide the protection needed by California businesses in case unexpected events happen where the business is forced to spend on legal fees. California general liability insurance, along with your property and work comp policies, protects your business if you're sued for personal injury or property damage. A typical policy will cover those accidents or damages that occur on-site or as a result of using goods or services sold by the company. In addition, coverages can be designed to cover additional costs like attorney fees or court costs.” Rene Rebollo, a spokesperson for Stampede Insurance Services. Stampede Insurance agents can help clients in taking into account all aspects of the general liability insurance package in order for the client to have the most relevant policy available. These agents will help in customizing a particular plan that works for businesses in Pasadena, including the Long Beach, Los Angeles, Anaheim, San Bernardino, and Riverside areas. The company is also licensed to offer its services in Alabama, Arizona, California (#0H18184), Florida, Kansas, Kentucky, Louisiana, Mississippi, New Mexico, Nevada, Oklahoma, and Texas. They can also provide contractors general liability insurance and other coverages that are essential for contractors, such as commercial auto coverage, business risk insurance, and insurance for tools and equipment. California contractors' insurance can be quite confusing at times, which is why their agents are always ready to assist clients during the process of choosing the proper coverage for a particular company. Meanwhile, Bliss Drive believes that search engine optimization (SEO) is a key component of any successful online marketing strategy. If done correctly, SEO can help in significantly improving a website’s visibility when a potential customer searches for a particular keyword or phrase. And it is vital to maintain high rankings on the major search engines, or else the competition will eventually catch up and surpass the company’s position on the search engine pages. Bliss Drive crafts full-spectrum SEO campaigns after in-depth planning and research, and these are supported by real-world data. They combine proven methodologies and cutting-edge technology with their proprietary approaches for coming up with custom-fitted solutions that are based on the requirements of a particular company. Pasadena’s population is just over 140,000, which means that businesses can take advantage of the diverse economy mixed with Pasadena’s small-city environment. Doing business in a smaller city means that your reputation is more important than ever. Word-of-mouth travels fast, and the key to securing loyal customers in the area is to establish yourself as a leader in your industry. This is why digital marketing is so important, as it helps spread the word about your business while allowing you to interact directly with your customers.” Richard Fong, founder, and CEO of Bliss Drive, LLC. Having started its operation in 2010, Stampede Insurance Services is capable of servicing clients throughout the nation and are licensed in many of the states. Each one of their clients is provided with a dedicated team of experts that work together to expertly all of the client’s concerns. They specialize in general liability, business owners policy, builders risk, bonds, contractors, commercial auto, commercial property, commercial umbrella, and workers compensation insurance and allow clients to save money on their business insurance. They also offer all kinds of personal insurance coverages to clients in all of their licensed states, including homeowners insurance, boat & watercraft insurance, auto insurance, motorcycle insurance, and flood insurance. They also provide condo insurance, earthquake insurance, landlord insurance, renters insurance, and manufactured / mobile home insurance.

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INSURANCE TECHNOLOGY

NSI Insurance Group Acquires Majority Stake in InsurTech Startup HoneyQuote

NSI | March 28, 2022

Florida-based digital insurance agency HoneyQuote.com has been acquired by one of the largest independent insurance agencies, NSI Insurance Group – a move that will enable the startup to expand its operations nationally, launch new product lines, and facilitate larger distribution partnerships. HoneyQuote’s machine learning algorithm matches users with property insurance carriers in real-time. Its proprietary search engine allows consumers to shop and purchase homeowners' insurance online. Since its launch in 2019, HoneyQuote has partnered with 30 of the top insurance carriers in Florida and has insured over $1 billion in property value. The startup now has its sights set on expanding nationally with additional insurance products in the works, including condominium-owners, renters, personal umbrella, pet, and auto insurance. We could not be more thrilled about the acquisition, Partnering with such an established player in the market with similar entrepreneurial roots poises HoneyQuote to grow exponentially.” HoneyQuote co-founder Franklyn Taveras. We’ve designed a digital experience that lets online shoppers compare real quotes and purchase policies instantaneously from a wide range of regional, national, and technology enabled insurance providers. With NSI, we’re able to deliver this seamless experience to customers across new geographies, products, and embedded partnerships.” Sean D’Sa, HoneyQuote’s co-founder and Chief Technology Officer. NSI Insurance Group’s acquisition of HoneyQuote marks its entrance into the InsurTech space, where the firm’s CEO Oscar Seikaly believes the industry is heading. About NSI Insurance Group NSI Insurance Group is among the largest privately-owned insurance brokerage firms. Founded in 1958, the firm operates in over 85 countries with five business segments, including personal and commercial insurance, employee benefits, and specialty programs. About HoneyQuote HoneyQuote is a digital insurance agency powered by a proprietary search engine allowing clients to compare and purchase insurance coverage in an online marketplace. Licensed in Florida and Texas, HoneyQuote’s products include homeowners and flood insurance across 30 of the top insurance carriers.

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INSURANCE TECHNOLOGY

Vantis Life announces distribution agreement with Everdays

Vantis Life | May 26, 2022

Vantis Life Insurance Company, a Penn Mutual company, announces a strategic marketing agreement with Everdays, an insurtech firm providing retirement, health and end-of-life planning solutions focused on seniors that are entering or planning for retirement. As part of the agreement, Everdays will market Vantis Life insurance products through its online, digital planning platform. Vantis will provide accelerated digital approval, life insurance product underwriting, policy issue and support through Everdays' easy-to-use digital planning platform. We're excited to work with Everdays to help provide life insurance solutions for an underserved and fast-growing market, Everdays delivers a one-of-kind, digital planning platform to reach people who otherwise may not be aware of our products that fit the needs of their life-stage. This innovation puts planning and insurance products together and aligns with Vantis' goal to provide simple, easy-to-afford protection to more American families." Tom Harris, president of life insurance and annuities for The Penn Mutual Life Insurance Company, the parent company of Vantis Life. We couldn't be happier about working with Vantis Life and the backing of Penn Mutual, As the fastest growing insurtech platform focused on young seniors and individuals planning their retirement, we wanted a partner that shared our vision. With its consumer-focused, tech-savvy orientation, Vantis Life is the ideal partner for us. Combining our proprietary digital planning and funding platform, Vantis Life's products and accelerated underwriting process with Penn Mutual's history, stability and strength is a unique offering. Our cultures are perfectly aligned." Mark Alhermizi, CEO and founder of Everdays. Over the coming months, the two companies will work together to launch a seamless, easy-to-use digital experience that offers unique retirement planning and life insurance purchasing solutions through a comprehensive online platform aimed at young, thriving seniors looking for a fulfilling life and secure retirement. About Vantis Life Since 1942, Vantis Life Insurance Company has specialized in providing families with affordable life insurance and annuity products that offer protection and guarantees. Vantis Life provides a convenient, seamless online purchasing experience and offers simple, easy-to-afford products to middle-income American families. The company takes pride in supporting these products with attentive and personal customer service. Vantis Life is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company, backed by 175 years of financial strength and stability. About Everdays Everdays is imagining a new way for young seniors to plan for their golden years on a digital platform purpose-built just for them. As the fastest-growing insurtech platform in retirement, health and end of life planning, we are the only consumer-first and senior-friendly brand to captivate and engage with millions of people 60+ who are looking for a modern solution that fits their lifestyle and needs. The 100% digital platform provides advanced planning tools and Everdays Assured branded insurance products that are designed to bring the customers plans to life, allowing them to live fulfilling lives and secure their futures no matter what lies ahead. Everdays was founded in 2017 by entrepreneur Mark Alhermizi, and is based in metropolitan Detroit, MI.

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INTELLECTUAL PROPERTY

illumifin to Acquire LTCG to Expand Third-Party Administration Capabilities

Hoplon Capital | February 28, 2022

illumifin, a leading insurance third-party administration and software provider, today announced it has signed a definitive agreement to acquire LTCG, a leading provider of administrative solutions and clinical services to the long-term care (“LTC”) insurance industry. The transaction is expected to close within the next 60 days. The strategic acquisition will make illumifin one of the largest insurance third-party administrators in the country with leading capability in underwriting, policy administration, health risk assessments and claims management. By combining illumifin’s third party administration and technology solutions with LTCG’s proprietary long-term care administration platform and claims capabilities, the company will be well positioned to advance digital capabilities across the market and provide end-to-end administration of next generation hybrid long-term care policies in addition to all the other products currently supported. “The integration of illumifin and LTCG will deliver superior value to customers through our deep insurance knowledge, technology innovation and operational excellence. The combined company will be a true market innovator with unparalleled depth and capabilities to assist insurers as they continue their digital transformations.” -illumifin’s CEO Phil Ratcliff “Given our 25-year history as the leading partner for long-term care insurers and our deep customer relationships, the integrated company will allow us to build more strategic partnerships with our clients and help them enhance the customer experience for both policyholders and distributors,” - Peter Goldstein, LTCG’s CEO. illumifin was formed in July 2021 by Abry Partners and Hoplon Capital to be an innovative partner to the insurance industry, delivering visionary technology enabled services and software solutions, to individual and group insurers. About illumifin illumifin provides third party administration and technology services to individual and group insurers. The company, launched in 2021, blends insurance industry knowledge, technology leadership and operational execution to prepare insurers for the digital future. illumifin is a diverse, passionate and empowered team of insurance specialists committed to the growth and success of its customers. About LTCG LTCG is a leading provider of administrative solutions and clinical services to the long-term care and life insurance industry, with over two decades of experience in this space. The company addresses all types of customer needs and policy requirements—from application processing and underwriting of new business to claims and administration of open and closed blocks. LTCG’s advanced data analytics, actuarial and risk management capabilities and unmatched industry expertise can help organizations manage their business and develop emerging products such as hybrid life/long term care policies. In addition, LTCG provides clients with unique insight about risk management built upon the industry’s largest database of long-term care underwriting and claims outcomes. About Abry Partners Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5 billion of capital across its active funds.

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Data is enabling banks to do more than they ever have. Banks have used data to understand customers and target them with personalized offerings and experiences, view and mitigate enterprise risk, elevate operational performance and improve regulatory compliance.

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