Around the P&C insurance industry: Feb. 12, 2020

News from HUB, USI, The Big "I" and more.

News from HUB, USI, The Big “I” and more. (Photo: Shutterstock)

Renaissance Alliance Insurance Services, the nation’s premier membership alliance for independent insurance agencies, announces that three independent insurance agencies have recently joined its Florida network. New members include:

The Independent Insurance Agents & Brokers of America (the Big “I”) congratulates Quincy L. Branch, president and CEO of Branch Benefits Consultants in Las Vegas, who has now been officially reappointed to the Federal Advisory Committee on Insurance (FACI). FACI is a committee composed of various state government officials, insurance professionals and consumer advocates that advises the U.S. Treasury’s Federal Insurance Office (FIO). The FIO monitors the U.S. insurance sector and the extent to which traditionally underserved communities and consumers have access to affordable non-health insurance products. It also helps administer the Terrorism Risk Insurance Program and advises the Treasury Secretary on national and international insurance matters.

Hub International Limited (Hub) announced that it has acquired the assets of Azur Consulting Services Inc. (Azur Consulting Services). Terms of the transaction were not disclosed. Located in Longueuil, Quebec, Canada, Azur Consulting Services provides employee benefits consulting, including group and health benefits solutions. Paul Ethier, President of Azur Consulting Services, will join Hub International Quebec Limited (Hub Quebec).

Hub also acquired Triester, Rossman & Associates, Inc. (TRA Insurance Solutions). Terms of the transaction were not disclosed. Located in King of Prussia, Pennsylvania, TRA Insurance Solutions is an independent insurance firm providing clients with commercial and personal insurance, and employee benefits solutions. Scott Davis and Jeffrey Triester, Principals at TRA Insurance Solutions, will join Hub Northeast.

USI Insurance Services (USI) announced the acquisition of Las Vegas-based insurance agency Orgill Singer & Associates, Inc. (Orgill Singer Insurance). Terms of the transaction were not disclosed. Founded in 1986, Orgill Singer Insurance has grown to become one of Nevada’s leading full-service independent insurance agencies, specializing in commercial insurance, employee benefits and personal risk solutions for local businesses and individuals. All of the agency’s team members in Las Vegas and Reno, Nevada, including David Dahan, chief executive officer, Eric Springall, president, and Eamon Springall, chief operating officer, will be joining USI.

Starr Insurance Companies hosted a group of one hundred brokers and risk managers to mark the opening of its commercial lines presence across the Iberian Peninsula, expanding the company’s European network with a new Madrid location. Juan Carro Arbelo, recently named Regional Manager for Insurance, Iberia, will head business development in this market.

Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the insurance industry internationally, announced the company’s fraud detection solution, Force has been adopted by Suravenir Assurances. The carrier will use the technology to automate the detection of potentially fraudulent Automobile and Multi-Risk Home (MRH) insurance claims. Suravenir Assurances is a subsidiary of the Arkéa group with approximately 2.9 million private policyholders in the French market. Suravenir Assurances says in this collaboration with Shift, it has found “an external partner that provides expertise and specialized know-how in the area of identification of fraudulent claims.”

Mercer, a business of Marsh & McLennan, announced that it successfully completed raising Mercer Private Investment Partners V (PIP V)[1], with $2.7 billion in total commitments. The global investor base includes corporate pension funds, public pension funds, insurance companies, asset managers and endowments and foundations from Europe, North America, Asia Pacific and Africa.

Chubb announced enhancements to its proprietary digital Worldview platform that enables customers to submit certificate requests online and receive same-day turnaround for select countries and products. Chubb says these enhancements aim to provide brokers and insureds with “a streamlined process for efficiently managing all of their multinational insurance needs in an increasingly fast-paced global business environment.

Content services provider Hyland announced it has acquired Learning Machine, a blockchain credentialing provider for governments, companies and educational institutions. According to Learning Machine’s company description, its service allows users to design their records, import recipient data, issue records and manage the entire credentialing lifecycle, rooted in any blockchain they choose. Hyland’s president and CEO Bill Priemer said in a statement, “The addition of Learning Machine’s digital credentialing solutions to Hyland’s content services platform will enable our customers to generate and manage digital documents that are both easily shareable and instantly verifiable.”

Related: Around the P&C insurance industry: Feb. 5, 2020