Around the P&C insurance industry: August 5, 2020

News from Nationwide, Quadient, Appulate, Next Insurance, and more.

News from Quadient, Appulate, Next Insurance, and more. (Photo: Shutterstock)

Nationwide launched the Commercial Insight Center℠, designed to help elevate agents’ expertise and success with mid-market businesses. The new site offers a single resource for agents who need access to timely, concise and industry-specific content, as well as information on middle market trends, such as telematics, cybersecurity and emerging risks. The content is designed to be quickly scannable or sorted, and covers industries including construction, specialty care and general industries like manufacturing.

Quadient has acquired YayPay, an automation solution for software as a service (SaaS) solutions. The company says its acquisition of YayPay will expand Quadient’s Business Process Automation offer, notably complementing its cloud-based platform Quadient® Impress, a multichannel document automation platform for small and medium businesses.

American International Group, Inc. announced that it will relocate its global headquarters in New York City to 1271 Avenue of the Americas, where it will occupy eight floors and 325,000 square feet. The company will also consolidate its remaining New York City area footprint into approximately 450,000 square feet divided between two new locations at 28 Liberty Street in Manhattan and 30 Hudson Street in Jersey City, New Jersey. The company plans to move into the three new offices in 2021.

Jupiter, a provider of predictive data and analytics for climate risk, announced it has raised additional capital from Liberty Mutual, MS&AD and SYSTEMIQ. Jupiter will use the new capital to fuel the company’s expansion of its operations and increase product development. As Jupiter’s expanded suite of solutions is deployed in the next few months and as the global economy recovers, the company expects exploding demand for enhanced risk analytics.

Disaster recovery firm American Technologies, Inc. (ATI) announced that private equity firm TSG Consumer Partners (TSG) has invested in the company. The family-owned and operated business will remain owned by the Moore family, and present ATI management will continue to hold their current roles. Financial terms of the transaction were not disclosed. ATI founder and CEO Gary Moore says ATI’s partnership with TSG aims to help “accelerate the company’s expansion into new and existing markets,” and drive investments into training, technology and marketing.

Azuga published its ranking of the top fleets, by industry and driver, in Q2 2020 in its Fleet Driver Performance Scorecard. The report is based on data captured by Azuga’s system, which combines hardware and software to help fleets improve customer service and lower costs.  According to Azuga’s data, the average overall score across all drivers in Q2 was 46.2.  The top drivers in Q2 were Dean Jurisch of Lynn Dairy, Jesse Rodriguez of GCI, and Geno Brown of Tampa Culligan.

Appulate announced the company will be working with AmTrust Financial Services, Inc. to allow retail insurance agents and brokers to rate, quote and bind workers’ compensation policies in real-time. Appulate says this new partnership will allow agents and brokers to obtain an instant quote. The process begins in the agent or broker’s management system, where ACORD data can be uploaded directly from their management system using Appulate’s bridging technology. Through the relationship, the data can now interact with AmTrust’s Application Programming Interface (API) to create a quote for workers’ compensation policies. Provided the agent is satisfied with the quote, they can also bind online to complete the transaction.

USI Insurance Services announced the acquisition of Troy, Michigan-based insurance agency, Colburn Group Insurance. Terms of the transaction were not disclosed. Founded in 1946, Colburn Group is a full-service independent insurance agency specializing in commercial insurance, employee benefits and personal risk solutions for businesses and individuals. All of the agency’s team members, including Harry Colburn, chairman, and Pamela Haron, president, will be joining USI.

Next Insurance announced the availability of Tools and Equipment and Hired and Non-Owned Auto (HNOA). Tailored specifically for contractors and cleaning businesses, Next Insurance’s Tools and Equipment coverage provides policyholders protection from theft and damage on all regularly transported, owned and borrowed equipment and tools. HNOA is a commercial auto upgrade that provides liability coverage for property damage and bodily injuries caused while operating rented vehicles or when an employee’s personal vehicle is used for business purposes.

Venture Insurance Programs launched Community Care™, an insurance program for community and social services, including nonprofits and for-profits. Community Care will be written on an admitted and non-admitted basis through three carriers rated “A” or better by A.M. Best Company. Community Care provides Liability, Property, Auto, Inland Marine, Crime and Umbrella coverage for lines of business that include:

Related: Around the P&C insurance industry: July 29, 2020

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