Around the P&C insurance industry: March 31, 2021
News from Azuga, Risk Placement Services, GigaForce and more.
Azuga announced SafetyIQ’s software-as-a-service solution for insurance providers and commercial auto fleet owners/managers. SafetyIQ uses AI and machine learning to help insurance providers and fleet owners/managers better understand the safety risks posed by commercial vehicles and drivers.
Risk Placement Services launched a home-based business insurance product through a growing relationship with AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited. Additionally, business personal property coverage can be added for business-related content. Just as important, the product provides coverage outside the home office, including clients’ offices, trade shows and other locations where the insured conducts business.
Greenlight Re Innovations, part of Greenlight Capital Re, Ltd., is investing in TradeCrediTech Ltd., a digital managing general underwriter focusing on the small and medium-sized enterprise credit insurance market.
GigaForce launched a patent-pending, blockchain-optimized, claims platform designed to expedite subrogation, recovery and salvage processing for insurance ecosystems. Gigaforce combines heterogeneous data, artificial intelligence-driven predictive models, specialized industry expertise and customized services to connect parties within the subrogation process. Gigaforce effortlessly integrates all data, documents and processes relevant to subrogation into a single platform for increased access, improved efficiency and reduced cycle time.
Allianz SE purchased the Polish operations of Aviva Plc for 2.5 billion euros, Bloomberg reported. The sale completes Aviva CEO Amanda Blanc’s plan to boost the London-listed insurer’s struggling share price by offloading non-core assets.
RIMS, the risk management society, and George Mason University’s Continuing and Professional Education have teamed up to offer a series of workshops designed for federal employees and executives who are committed to building stronger risk management practices and more rewarding careers. The first in the series of workshops will be held on May 24-26, 2021.
Odyssey Investment Partners, a growth-oriented private equity firm with a successful track record in insurance services, partnered with the SIAA management team to acquire the Company.
Brokerslink added financial advisory, compliance, risk and resilience specialist B. Riley Advisory Services Group to its risk management capabilities. B. Riley’s compliance, risk and resilience practice specialises in business continuity, cybersecurity risk management, crisis management, enterprise risk management and operational resilience for corporate organizations across a range of industry sectors. Brokerslink’s partners and affiliates and their clients in more than 121 countries now have access to these solutions and a platform of services including advisory and consulting, investment banking, business turnaround and restructuring.
Allstate Protection Plans selected the Synchronoss‘ Personal Cloud solution for integration into select device protection plan offerings. The addition of a personal cloud will give global customers the ability to back up and manage their valuable digital assets – contacts, photos, videos, music, documents, messages and more – from any protected Android or iOS device.