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Around the P&C insurance industry: Jan. 11, 2017

News from USI, Hub International, Neon and more.

By Caterina Pontoriero | Updated on January 11, 2017
(Photo: Shutterstock)

Itasca, Illinois-based insurance brokerage and risk management services company Arthur J. Gallagher & Co. said it has acquired Chicago-based consulting firm Gruppo Marcucci, LLC. Terms of the transaction were not disclosed.

New York City-based homeowners’ and rental insurance company Lemonade said it has set a world record for the speed of paying a claim. In three seconds, a Lemonade claims bot reviewed the claim, cross referenced it with the policy, ran 18 anti-fraud algorithms on it, approved the claim, sent wiring instructions to the bank, and informed the client the claim was closed.

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