Around the P&C insurance industry: January 20, 2021
News from Bold Penguin, Farmers Insurance, Origami Risk and more.
Bold Penguin partnered with the small business insurance provider AmTrust. AmTrust joins a growing list of carriers on the platform that offer an embedded, fully digital quoting experience in workers’ compensation coverage for small businesses.
ACORD Solutions Group announced the successful implementation of its ADEPT platform to perform automated, real-time premium accounting reconciliation between insurers and brokers. This market capability was developed working closely with some of the industry’s largest stakeholders, with the first data exchanged by professional services firm and broker Aon plc and carrier Zurich North America.
Integrated Specialty Coverages announced the purchase of California Contractors Insurance Services, Inc., a licensed construction bond and insurance agency. Terms of the transaction were not disclosed.
Farmers Insurance announced its launch of a range of customizable insurance products in Mississippi. Customers throughout the state can now access quotes and purchase auto, home, condo and renters products in a direct-to-consumer model while retaining the personalized approach that has been the hallmark of Farmers for 92 years.
Assurex Global, the privately held commercial insurance, risk management and employee benefits brokerage group announced a real estate insurance solution and a construction insurance solution with CNA for its United States Partners.
USI Insurance Services acquired Colorado Springs, Colorado-based CB Insurance, LLC. CB Insurance and its predecessors have proudly served the needs of the Colorado community for more than 100 years and is currently one of the largest insurance brokerage firms in the state, specializing in commercial and personal risk insurance programs. Terms of the transaction were not disclosed.
Origami Risk launched a suite of web-based and mobile solutions designed specifically for environment, health and safety professionals. The solutions support behavior-based safety observations and inspections and audits while facilitating faster and more efficient incident data collection and investigations, loss analytics, regulatory reporting and compliance. Origami’s suite of new EHS solutions includes intuitive dashboards and ready-to-use, pre-configured online tools that help EHS professionals in various industries speed up enterprise-wide implementation of safety initiatives.
TechAssure partnered with CyberCube to roll out its Broking Manager product to the network’s members worldwide. Broking Manager will allow TechAssure’s member firms to quantify and explain to their clients the sources and financial impact of cyber risk exposure. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking.
Related: Around the P&C insurance industry: January 13, 2021