Around the P&C insurance industry: April 14, 2021
News from Big “I”, ReSource Pro, MS Amlin and more.
The Big “I” and Trusted Choice partnered on the latter’s redesigned website, which has an improved user experience and easier access for Big “I” members to free marketing resources and programs. The new website also has a streamlined ordering process for free custom marketing materials, including two new campaigns, “You Do You” and “The Big Picture,” which is also the first campaign available in Spanish. The site also features the ability to share content directly to Facebook and Twitter, an improved monthly social media content calendar, and a resource library of documents, videos and webinars.
ReSource Pro introduced its Growth Solutions group dedicated to driving organic growth for insurance agencies and carriers. Growth Solutions’ industry experts offer skills and resources that allow organizations to elevate sales conversations, differentiate in a commoditized market and win more right-fit business.
Security Service Insurance, an independent agency licensed in eight states, acquired Pace Insurance Managers, LLC., located in Springhill, La. A full-service subsidiary of Security Service Federal Credit Union, the insurance agency serves members and the general public in Texas, Colorado and Utah. The transition of Pace to Security Service Insurance is underway and is expected to be a seamless process for their customers.
MS Amlin acquired U.S. managing general agency International Transportation and Marine Office and its associated subsidiaries as part of a new strategy to provide access to high-quality specialty MGAs in the U.S., the largest MGA market in the world. Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals.
Hub International Limited acquired the assets of Wyoming Financial Insurance, the largest independently owned insurance agency in Wyoming. Terms of the transaction were not disclosed.
First Acceptance Insurance Company, Inc. received approval to use the TransUnion Vehicle History Score powered by CARFAX. This rating variable was approved by the California Department of Insurance in a personal auto filing for Acceptance. The rating could help customers save money on their car insurance because it more accurately predicts a vehicle’s risk. As well as being good news for consumers, it’s also exciting for those who develop pricing for personal auto insurance in California because new rating variables are, for the most part, not allowed under state regulations.
The Hilb Group, LLC acquired Indiana-based Star Insurance Agency. The transaction became effective on March 1, 2021. Star Insurance Agency has both personal and commercial insurance offerings, including both P&C and employee benefits. As a part of the transaction, Leslee Robinson, Billy Davenport, and the Star Insurance team will join THG of Indiana.
Zensar partnered with U.S.-based Claimatic, a partnership that combines software of Claimatic with Zensar’s strategic consulting, enterprise delivery and implementation services. This new, innovative partnership leverages the respective strengths of Claimatic and Zensar to create compelling value for both companies and their mutual clients.
American Modern launched Social To Go, a new online toolkit built to give agents everything they need to create, optimize and fuel their social media strategy. As agents have shown an increasing desire to enhance their online business presence, this toolkit is a quick and easy one-stop-shop for everything they need to master social media without taking away from their day-to-day.
Charles Taylor acquired Syndicate Claim Services, Inc., an independent adjusting and claims services business based in Indianapolis. Syndicate is a trusted service provider to insurance clients looking for high-quality loss adjusting, claims and catastrophe services throughout the United States.
BMS launched Pathlight Analytics, a platform designed to harness the collective power of multiple analytics disciplines to better assist clients with examining, analyzing and interpreting data as it pertains to their specific capital and risk transfer goals and objectives. The platform works across both insurance and reinsurance. Pathlight Analytics is part of a strategic build-out of analytics thought leadership and proprietary solutions. This news follows the appointment of Kirk Conrad as the global head of analytics for BMS.
Pathpoint released Lessor’s Risk Only (LRO) commercial package, which gives agents the opportunity to access comprehensive non-admitted coverage solutions for property owners with a single application. Pathpoint’s LRO product includes key improvements from the company’s recently released GL contractors offering, including a shortened, targeted question set, immediate eligibility feedback and auto-quoting.