Creative Planning | June 14, 2022
Rosen Capital Management has joined forces with Creative Planning LLC, one of the largest Registered Investment Advisers ("RIA") in the country. Rosen Capital Management has $114 million in AUM and brings 2 new employees into the Creative Planning fold, including the firm's CEO, Glenn Rosen.
Rosen Capital Management is a third-generation family business that began in 1948 as a life and health insurance agency, ultimately transitioning into a full-fledged financial planning and money management firm. They specialize in complete financial planning to include tax minimization strategies, wealth management, insurance needs and estate planning.
Creative Planning is excited to bring on the Rosen Capital Management team who will help us break deeper into the Georgia market, From our first conversations with the Rosen team, we knew that the fit would be perfect due to their work ethic, dedication to clients, and overall core values."
Peter Mallouk, CEO of Creative Planning.
We are excited to join the Creative Planning team and utilize their expanded resources and talent to better serve our clients, Rosen Capital Management is a family business, and we are excited to join Creative Planning and have our family grow with Peter and the rest of the team!"
With its latest acquisition, the second in just two short weeks, Creative Planning manages or advises on over $225 billion in assets across all 50 states and 65 countries with continued plans for growth throughout 2022. Additionally, Incap (Baltimore) served as financial advisor to Rosen Capital Management on the transaction.
About Creative Planning
Creative Planning, LLC is an independent wealth management firm that provides a financial planning led investment management approach, retirement planning, estate planning, trust services, tax planning and family office services for individuals as well as 401(k) and institutional clients. Creative Planning manages or advises on over $225 billion in assets across all 50 states and 65 countries, as of December 31, 2021.
One Concern | June 17, 2022
Today, One Concern, a climate analytics company, announced a strategic alliance with WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company. The two companies are providing the U.S. insurance market with One Concern Resilience ScoreTM (1CRX™) to facilitate a better understanding of dependency risk and accelerate the adoption of parametric insurance.
The One Concern Resilience Score indicates the vulnerability a business has concerning downtime arising from the fragility of the infrastructure a business relies upon, such as the power grid, transportation infrastructure, and related community areas, in addition to direct property damage. Incorporating resilience scores into WTW's client-facing analytical platforms, along with the broking workflow, will present a complete picture of existing building damage analyses, with the potential impact of vulnerable external dependencies.
We're thrilled to incorporate our resilience score into WTW's cutting-edge analytical solutions and demonstrate to clients that the biggest threats to their business derive from climate-related dependency risk, WTW's ability to apply the latest in disaster science will enhance their clients' decision-making process in choosing how best to integrate physical climate risk into their resilience strategy."
Ahmad Wani, Co-Founder and CEO, One Concern.
One Concern's analytics will support and augment WTW clients' risk analyses and decision-making regarding specific mitigation steps, costs, and benefits, including alternative risk transfer mechanisms. For example, risk managers and WTW risk advisors can use One Concern insights to suggest pricing adjustments, advise on risk mitigation activities, increase their business resilience to minimize the adverse impact of natural disasters, and secure parametric insurance covers to fill the protection gap they experience when faced with a natural catastrophe.
About One Concern
We're a technology company building the digital infrastructure for global risk. We map, analyze and monitor every piece of the world's built environment and its connection to the global economy.
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help you sharpen your strategy, enhance organizational resilience, motivate your workforce and maximize performance.
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.
Socotra | May 21, 2022
Socotra, the partner of choice for innovative insurers, today announced the acquisition of Avolanta, a software startup offering the only unified portal purpose-built for the insurance industry. As part of the acquisition, the Avolanta team will join Socotra and Avolanta’s technology will become Socotra Unified Portal.
Insurance companies are struggling to deliver the types of digital user experiences that are now common in other industries. Many insurance customers are still forced to fill out paper applications with agents and brokers manually entering customer data into outdated web portals. Avolanta enables insurers to solve these issues by seamlessly connecting agents, brokers, and customers with its unified portal.
Avolanta provides the only unified portal purpose-built for insurance
Avolanta was founded in 2018 by insurtech entrepreneur, Chuck Wilson, and insurance veteran, Gavin Dean. With decades of experience in the industry, the founders created Avolanta to provide insurers a better way to streamline processes and create user experiences.
The cloud-native platform allows insurers to rapidly innovate and deploy new products with a unified portal. Agents can collaborate with customers through secure, shared online applications to reduce manual entry. As a result, insurers can deliver customized experiences, automate data capture and analytics, and ultimately drive more conversions and revenue.
Joining Socotra is an exciting next chapter for Avolanta, Avolanta’s frontend technology focused on the user experience is the perfect extension to Socotra’s backend policy core. The combined platform will help insurers quickly develop new insurance products with more convenient buying experiences for any distribution channel—whether it’s agent, embedded, or direct-to-consumer. We can’t wait to see how insurers will leverage Socotra to innovate.”
Chuck Wilson, CEO and co-founder of Avolanta.
The acquisition of Avolanta is a perfect complement to Socotra’s industry-leading policy core, Socotra and Avolanta share a mission to modernize the insurance industry with open APIs, true cloud, and off-the-shelf capabilities that accelerate innovation and speed-to-market. Together, we now offer the complete front-to-back platform that moves the insurance industry forward.”
Dan Woods, founder and CEO of Socotra.
Socotra is bringing unparalleled speed and ease to insurance technology. With Socotra’s modern core platform, global insurers and insurtech MGAs can accelerate product development, reduce maintenance costs, and improve customer experiences. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable.