RISK MANAGEMENT

Truist Insurance Holdings launches new Insurance Services Division with close of Kensington Vanguard acquisition

Truist Insurance Holdings, Inc | March 03, 2022

Betterfly News
Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation and the sixth-largest insurance brokerage in the U.S., announced todaythat it has closed on the acquisition of Kensington Vanguard National Land Services (KV), one of the country's largest independent full-service national title insurance agencies.

BridgeTrust Title Group, the company's existing title and settlement services business, will be integrated into and operate under the KV brand. The consolidated operation will be one of the largest real estate service agencies in the U.S.

Concurrent with the close of this transaction, Truist Insurance Holdings announced the creation of a new Insurance Services Division, which will include not only the combined KV organization but also its Premium Finance business, which is marketed through its AFCO brand in the U.S. and CAFO brand in Canada. The new division will report to Todd Wartchow, executive vice president of business development and strategy for Insurance Holdings.

"At Truist Insurance Holdings, we serve our clients across a broad and diversified portfolio of businesses, augmented with value-added services like real estate transaction support and premium financing, We're excited about how our expanded title insurance business and our new division allow us to deliver on our purpose of inspiring and building better lives and communities."

- John Howard, the company's chairman and CEO.

The newly combined KV business will be led by Brian Cooper and Jarett Fein, currently co-chief executive officers of KV. Barbara Jones, title insurance manager at BridgeTrust, will delay a previously planned retirement until year-end to support the transition. Additional KV leadership announcements will follow as the business integrates into Truist Insurance.

There are no changes to the Premium Finance organization and leadership as part of its transition to the new Insurance Services Division.

About Truist Insurance Holdings
Truist Insurance Holdings, Inc., the sixth-largest insurance broker in the U.S. and seventh-largest in the world, is a subsidiary of Truist Financial Corporation (NYSE: TFC). Headquartered in Charlotte, NC, Truist Insurance Holdings operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and its Premium Finance companies (AFCO Credit Corporation and CAFO Inc.). To learn more, visit www.truistins

About Kensington Vanguard National Land Services
Kensington Vanguard National Land Services, LLC, headquartered in New York City with 400 employees, is one of the largest full-service national title insurance and settlement agencies in the U.S. Founded in 2002, Kensington Vanguard provides commercial and residential title insurance, settlement, escrow and 1031 exchange services.

Spotlight

Today’s insurance claims systems deliver value to insurers by increasing efficiency through process automation and workflow. The use of manual decision points within these processes and systems, however, creates bottlenecks and under-utilizes company expertise. The insight gained from data mining and analytics is restricted to the back office and IT resources cannot be freed up from legacy systems maintenance. A new generation of Decision Management claims systems is required. Next generation claims systems with Decision Management recognize decisions as reusable assets and replace decision points like claim adjudication or fraud detection with Decision Services.


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INSURANCE TECHNOLOGY

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Higginbotham | April 20, 2022

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CORE INSURANCE

Safe Harbor Pollution Insurance Partners with Rhode Island Environmental Non-Profit

Save The Bay | January 27, 2022

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INSURANCE TECHNOLOGY

Marble Launches First Rewards-Based Mobile App For Insurance

Marble | May 23, 2022

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RISK MANAGEMENT

The Standard Selects Vitech's V3locity To Accelerate Technology Transformation

Vitech® | February 15, 2022

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Spotlight

Today’s insurance claims systems deliver value to insurers by increasing efficiency through process automation and workflow. The use of manual decision points within these processes and systems, however, creates bottlenecks and under-utilizes company expertise. The insight gained from data mining and analytics is restricted to the back office and IT resources cannot be freed up from legacy systems maintenance. A new generation of Decision Management claims systems is required. Next generation claims systems with Decision Management recognize decisions as reusable assets and replace decision points like claim adjudication or fraud detection with Decision Services.

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