HUB named agency of the year by workers’ comp specialist

Insurance Business America | April 26, 2019

Workers’ compensation specialist CompWest Insurance Company has named HUB International its 2018 Agency of the Year. “HUB is the best of the best,” said Al Gileczek, president of CompWest and Accident Fund. “Like CompWest, the HUB team is clearly committed to their customers. And we are proud to work with them in offering world-class workers’ compensation products and services throughout California and the West. We deeply appreciate their continued support, ongoing feedback and valued insight into the individual needs of their clients. We look forward to a strong partnership for many years to come.” HUB, along with six other agencies, was recently named to CompWest’s President’s Club. Qualifications for the President’s Club included written premium exceeding $2.5 million, a five-year cumulative loss ratio of 50% or less and premium retention of 80% or higher. “Our clients benefit from the relationship and trust we have developed with CompWest, and we look forward to presenting more of our clients to CompWest,” said Darren Caesar, HUB’s president of commercial insurance for California.

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LIFE INSURANCE

Sun Life announces Sun Life Link to create a better benefits experience through enhanced digital connectivity

Sun Life | December 17, 2021

Sun Life U.S. has launched Sun Life Link, a broad portfolio of digital connection solutions, including APIs (application programming interface) with prominent HCM (human capital management) and benefits administration systems. These connections alleviate manual administrative tasks for HR professionals by automating employee insurance and data processes to produce real-time results. Employers experience a more efficient process with more time to spend on benefits strategy, employee programs, and other priorities, and their employees see faster confirmation of insurance coverage and status updates. Sun Life Link is backed by dedicated teams of technology experts who focus on building the technical framework to develop secure, customizable API integrations that address client needs. By proactively partnering with clients to build and implement new connections, these teams ensure they are solving for clients' specific pain points and setting them up for immediate and ongoing success. "We are committed to bringing our clients innovative solutions, connections and partnerships that make their lives easier, Sun Life Link creates connections and provides expertise that ease administrative burdens for HR teams, saving them significant time and making the benefits enrollment process far more efficient and streamlined." - Kevin Krzeminski, senior vice president of National Accounts at Sun Life U.S. Sun Life Link API connections facilitate the exchange of EOI (evidence of insurability) data, which results in a faster, easier enrollment experience for employers and employee members. With many benefits administration and HCM system connections already implemented, Sun Life Link adds new connections on a continuing basis, enhancing the size and scope of solutions as well as catering to a broader range of employers with different needs and goals. Sun Life approaches digital solution development with flexibility to adapt to continuously evolving client needs. Sun Life Link solutions include leave administration, self-billing, and enrollment and plan design integration, further automating manual HR tasks around benefits management. About Sun Life Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2021, Sun Life had total assets under management of C$1.39 trillion.Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. In the United States, Sun Life is one of the largest group benefits providers, serving more than 60,000 employers in small, medium and large workplaces across the country. Sun Life's broad portfolio of insurance products and services in the U.S. includes disability, absence management, life, dental, vision, voluntary and medical stop-loss. Sun Life and its affiliates in asset management businesses in the U.S. employ approximately 5,500 people. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.).

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COMPLIANCE

Brightway Insurance Announces Majority Investment From GrowthCurve Capital To Accelerate Growth

GrowthCurve Capital | December 18, 2021

Brightway Insurance, a leading personal lines focused insurance franchisor, announced today the completion of a majority investment from GrowthCurve Capital to accelerate the company's growth trajectory. The partnership with GrowthCurve will enable Brightway to continue its national expansion strategy and invest in its technology platform to further enhance its strong value proposition to customers, franchisees and carrier partners. "On behalf of my brother David and I, we are thrilled to take the next step in our journey and partner with GrowthCurve Capital, Our goal has always been to ensure the company – and everyone associated with it – reaches its potential. We strongly believe that GrowthCurve is the right partner for Brightway to create a Win, Win, Win for franchisees, customers and team members, and take the business to the next level given the firm's unique model of combining functional expertise with deep investment and industry experience." -Michael Miller, co-founder of Brightway Insurance. Brothers David and Michael Miller invented the "you sell, we service" model in the insurance agency space and began franchising the concept as Brightway Insurance in 2008. Today, Brightway is the most-recognized insurance franchise system and one of the largest personal lines insurance agencies in the U.S. With more than 331 franchises in 29 states, the company manages nearly $900 million of annualized written premiums. GrowthCurve Capital is a unique, control-oriented, private equity firm focused on building world-class businesses by leveraging data, analytics and machine learning, combined with a comprehensive approach to human capital, to accelerate growth and drive value creation. Under the new partnership, the Millers will continue to hold significant minority ownership of the company. Michael Miller will join David Miller on the board of directors, and together they will work closely with GrowthCurve in setting the strategic vision for Brightway to accelerate the company's growth. Effective immediately, Mark Cantin, GrowthCurve's lead operating executive in insurance distribution, becomes the new president and CEO of Brightway Insurance. Cantin had been working closely with GrowthCurve over the last several months to identify high growth insurance distribution businesses that ultimately resulted in this partnership. An industry veteran, Cantin brings more than 30 years of experience in both insurance distribution and underwriting to the position. Prior to joining GrowthCurve, Cantin was a member of the executive committee and president of field operations at QBE North America, a division of QBE Insurance Group, one of the 20 largest global insurance and reinsurance companies. Prior to joining QBE, Cantin was chief marketing officer at USI Insurance, one of the largest and fastest growing domestic brokers. "We have been very impressed with what David, Michael and the Brightway team have built. The company pioneered the franchisor model in the insurance space and has generated attractive outcomes for its franchisees, customers and carrier partners, We seek to accelerate the company's growth trajectory by leveraging the company's rich data assets and our expertise in AI, data enablement and digital transformation to introduce new solutions and capabilities to our franchisees and customers and to scale the platform nationally." -Sumit Rajpal, founder and CEO, GrowthCurve Capital. About Brightway Insurance Brightway Insurance is a national property/casualty insurance distribution company with nearly $900 million in annualized written premium, making it one of the largest personal lines agencies in the U.S. Brightway's focus is on producing Win, Win, Win outcomes for consumers by offering customized insurance solutions and for people wishing to sell insurance by providing business opportunities that span from single agent to multi-unit enterprises. Regardless of the path taken, Brightway provides the support necessary to consistently outsell other insurance agents. About GrowthCurve Capital GrowthCurve Capital is a private equity firm focused on building world-class businesses by leveraging data, analytics, and machine learning, combined with a comprehensive approach to human capital, to accelerate growth and drive value creation. Founded by Sumit Rajpal, former global co-head of the Goldman Sachs Merchant Banking Division, the firm focuses on control-oriented private equity investments primarily across the financial and information services, healthcare, and technology sectors.

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INSURANCE TECHNOLOGY

High Street Insurance Partners Successfully Acquires Gemini Risk Partners

High Street Insurance Partners | March 30, 2022

High Street Insurance Partners ("HSIP") announced today that it has acquired Michigan based Gemini Risk Partners. Gemini Risk Partners was founded by attorneys David Kramer and Theodore Nittis to service the insurance needs of law firms. The agency specializes in providing professional liability coverage and other comprehensive insurance solutions exclusively to law firms. Law firms are turning to Gemini Risk Partners expertise to give them the peace of mind they need to effectively practice law and not worry about professional liability coverage. This partnership continues to build out our specialty expertise in key verticals for our clients." Scott Wick, CEO of HSIP. We are excited to join HSIP, together with our client focused philosophies we will be able to provide sophisticated insurance solutions to manage specific and unique risks faced by all our law firm clients." David Kramer, Principal of Gemini Risk Partners. HSIP, one of the fastest growing insurance brokerages in North America, has now completed 109 transactions since forming the company in mid-2018. About High Street Insurance Partners High Street Insurance Partners (HSIP) is a full-service independent insurance brokerage firm. Founded in 2018, the Traverse City, Michigan-based company provides a broad array of business insurance & risk management; employee benefits & human capital management; financial & retirement services; and personal insurance solutions delivered through community-focused agencies. HSIP employs over 1,800 insurance specialists & consultants in offices based in Colorado, Connecticut, Florida, Illinois, Iowa, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas & Virginia.

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INSURANCE TECHNOLOGY

Segal Has Acquired Michigan Insurance Broker Union Services Agency

Segal | June 09, 2022

Segal, a leading benefits and HR consulting firm, has acquired Bayview Insurance Group d/b/a Union Services Agency (USA), a Michigan-based insurance brokerage firm. The brokerage has focused on serving the insurance needs of labor organizations, multiemployer funds and public sector entities for more than 25 years. The acquisition of Union Services Agency better positions Segal to serve the insurance and risk needs of our current and future clients, This is an important addition to our company and the Union Services Agency team’s expertise helps further our mission of delivering trusted advice to clients.” David Blumenstein, President and CEO of Segal. The entire USA team has become part of Segal’s Insurance Brokerage Practice, under the leadership of Diane McNally, Senior Vice President, Segal’s National Insurance Brokerage Services Leader. Segal will now have additional resources to better support clients and expand client relationships in the Midwest. We look forward to offering clients access to Segal’s extensive consulting offerings, Both firms are known for possessing a deep understanding of client needs and developing solutions to address those needs.” Sally Corbin, former CEO of Union Services Agency, who has joined Segal as Senior Vice President and Director of Insurance Relations. Corbin, reporting to McNally, is now responsible for providing brokerage placement consulting and administrative services for property and casualty programs in all markets. This includes the major financial lines of fiduciary liability, cyber liability, fidelity bonds, professional liability and union liability insurance.

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