Mobile telematics and analytics provider Cambridge Mobile Telematics (CMT) has launched Claims Studio, a new product line for claims adjusters designed to provide more accurate crash data faster. CMT describes Claims Studio as a lightweight smartphone solution that uses telematics data for crash detection, faster claims handling times and more accurate claims reporting. The Claims Studio solution accesses key details like speed, severity, and vehicle impact location, and includes two CMT products: Crash Detector and Claims Reporter.
Digital insurance company Embroker announced the launch of its new Lawyers’ Professional Liability (LPL) platform for both large and small law practices. Commonly known as Malpractice Insurance or Errors & Omissions Insurance (E&O), Embroker says its new LPL platform allows law firms to secure and enroll in legal malpractice insurance faster and cheaper. Currently available in 31 states, LPL is still receiving state product approval as it is rolled out nationwide. Embroker will be targeting law firms with 1-10 attorneys nationally, which is the size of the majority of firms in the US.
Preferred Employers Insurance, a Berkley company, has introduced a new risk management center for customers, providing a web-based platform that offers an array of workplace safety tools that Preferred says is designed to improve a company’s ability to prevent and control on-the-job injuries. Workplace safety standards, employee safety training, and human resource tools are also provided to assist California employers with obtaining CalOSHA compliance.
AUGIE Group, an insurance tech exchange, announced the AIMS Society has joined its executive council, helping drive collaboration among all parties in the industry to improve the efficiency of the independent agent and broker distribution channel. AIMS Society is the only group dedicated exclusively to marketing and sales education for the insurance industry. It provides training, information, and networking services designed to increase the personal and agency sales production of property and casualty insurance agents. The organization also manages the “Certified Professional Insurance Agent (CPIA) Designation,” the industry’s only sales-based insurance designation.
Bermuda International Long Term Insurers and Reinsurers (BILTIR) is inviting local students to apply for a 10-week summer internship with a member company. Now in its third year, BILTIR hopes the internship program will create a pipeline of local life insurance professionals, and that eventually, Bermuda will begin exporting these skills to other countries. The program is open to young Bermudians and the children of Permanent Resident Certificates (PRC) who are at college or university studying a business-related subject. The placements include roles in accounting, actuarial, finance, operations and investments, and the internships are paid. Students can apply through the BILTIR website.
Arthur J. Gallagher & Co. (AJG) announced that on January 1, 2020, it increased its interest in Capsicum Reinsurance Brokers LLP (Capsicum Re) from 33% to 100%. Other terms of the transaction were not disclosed. Founded in December 2013 by Grahame Chilton and Rupert Swallow through a strategic partnership with Gallagher, Capsicum Re has since grown to become the world’s 5th largest reinsurance broker with offices in the UK, US, Bermuda and South America. Rupert Swallow will continue to lead Capsicum Re as CEO, reporting to Simon Matson, CEO of Gallagher’s UK Broking & Underwriting division, while Grahame Chilton has re-joined Gallagher in a new leadership role within Gallagher’s global property & casualty broking business.
Insurity, Inc., a provider of cloud solutions and data analytics for the insurers, brokers, and MGAs globally, announced that it has completed the acquisition of data solutions provider SpatialKey, Inc. SpatialKey provides geospatial analytics, data enrichment, and risk intelligence solutions for the P&C insurance industry. In a statement, Chris Lafond, CEO of Insurity, said, “Data and analytics is a key focal point in our strategy of delivering differentiated and high-value products to our clients. The acquisition of SpatialKey will enable us to extend our overall market leadership as well as strengthen and expand our already-robust suite of industry-leading data solutions.”
Specialist insurer Beazley and global reinsurer RenaissanceRe have jointly launched a new reinsurance product providing Beazley with additional catastrophe cover for cyber events. The majority of the security behind the deal will be provided by capital sources structured by RenaissanceRe.
Global reinsurer MS Amlin announced the launch of David Ashby Underwriting Ltd (DAU), a specialist equine MGA that has been formed following the buyout of MS Amlin’s equine book of business and renewal rights by David Ashby, former Managing Director and Principal Underwriter for Equine at MS Amlin. Ashby will serve as CEO and chief underwriting officer of DAU, which began underwriting Jan. 1, 2020. DAU will service MS Amlin’s existing livestock and bloodstock business through a purchase agreement ensuring existing brokers and clients complete continuity of cover and service.
Helmsman Management Services (HMS), Liberty Mutual’s wholly-owned third-party administrator, announced the close of its previously announced deal to acquire Eberle Vivian Inc., a regional third-party administrator (TPA) serving the Pacific Northwest.
BPB UW Management Ltd (BPBUW) announced it is launching its underwriting agency, which will focus on nurturing individual MGA businesses, has a strong executive team led by Chairman Jonathan Palmer-Brown, CEO John Holm, COO Margaret Ryan and Executive Director Robin Blunt. BPBUW says its business strategy is to build out a number of specialist niche MGA subsidiaries, with the key underwriters in each holding a meaningful equity stake in their own MGA business.
The Inter-Company Marketing Group (ICMG), a non-profit association that fosters and promotes business networking among insurance and financial services firms, announced it is partnering with Katalis Foundation for its 2020 conference charity golf event. The conference is scheduled for January 29 to 31, 2020, at the Walt Disney World Dolphin Resort in Orlando, and the golf event is scheduled for Friday morning, January 31, 2020. Indianapolis-based Katalis Foundation uses innovative programming, strategic partnerships, and community-level investment to spark positive change and sustainable development in Haiti. Also benefiting from funds generated by the golf event will be Lifesong for Orphans.
Brown & Brown, Inc. announced the completion of the previously-announced acquisition of Special Risk Insurance Managers, Ltd. Brown&Brown is an insurance brokerage firm providing risk management solutions to individuals and businesses.
Renaissance Alliance Insurance Services, a membership group for independent insurance agencies, announced that five independent insurance agencies in Florida and Massachusetts have recently joined its network. New members include:
- Dempsey Insurance Agency, Norwood, Mass., is a family-run agency that has been providing service to clients in Massachusetts, New Hampshire and Maine for 70 years over three generations. Robert Dempsey is president and CEO.
- Fitzgerald Insurance Agency, Walpole, Mass., provides personal and commercial insurance since 1975, with a specialty in trucking, transportation and construction company insurances. Stephen E. Fitzgerald is president.
- Florida Assurers, Miami Beach, Fla., was founded in 1956 and is the oldest independent insurance agency on Miami Beach. Services include personal and commercial insurance and employee benefits. Leigh Needelman is president and CEO.
- Hugh Cotton Insurance, Orlando, Fla., is a full-service agency serving central Florida since 1948. The agency offers personal, commercial and life insurance, employee benefits, and a range of specialty insurance such as religious institutions, liquor liability, builders risk and bonds. Tom Cotton is the principal.
- PTI Insurance Agency, Inc., Framingham, Mass., is a full-service agency providing property & casualty lines of insurance to personal and commercial clients. Magno Araujo is president.