Cincinnati Financial Corporation extended RideWellSM, a dedicated program to improve drivers’ safety in Illinois, New Jersey and West Virginia. In partnership with Cambridge Mobile Telematics, a mobile telematics and analytics provider, Cincinnati built the new app to foster peace of mind for parents and to encourage safe driving behaviors for all drivers.
Mission Underwriting Managers, LLC launched its technology-powered platform to bring innovation to the property and casualty underwriting and distribution market. Mission Underwriters will act as a licensed insurance general agency with a broad focus across commercial lines.
Boatim Inc. launched its new boat insurance offering for U.S. customers. On its mission to provide the best digital experience for next-generation boaters, it is now possible to conveniently obtain a competitive quote directly online. Through its partnership with American Marine Insurance, Boatim customers now have access to policies from market-leading insurers like Markel, Chubb and Geico.
Newfront Insurance acquired Aviation Marine Insurance Services, a specialist brokerage focused across general aviation from individual owners, managed fleets and charter companies to aviation-related business in 35 states. The acquisition continues the growth momentum Newfront has achieved in the past year and expands the platform to serve aviation clients.
Arthur J. Gallagher & Co. acquired Rome, Georgia-based Garner & Glover Company. The terms of the transaction were not disclosed.
USAA expanded its SafePilot program into Alabama, Colorado, Minnesota, Nebraska, Nevada, Oklahoma and Utah. The program is now offered in 23 states total. The USAA SafePilot app instructs, inspires and rewards safe driving habits to help keep drivers safe on the road while lowering insurance premiums. Members who enroll in SafePilot are now eligible for initial policy discounts up to 10% for signing up for the program and continued policy discounts up to 30% for safe driving behaviors.
Arity launched Arity IQ, which enables insurers to offer consumers the most accurate price by leveraging driving behavior data. Not only will insurers be able to increase profit by leveraging driving behavior data to more accurately price new business, but they’ll also gain a competitive edge over insurers who don’t.
American Modern launched Quick Quotes, an on-demand video series that provides industry intelligence and educational resources to insurance agents across the country. Hosted by American Modern sales managers, each episode includes data-driven insights designed to help agents better understand coverage nuances as well as ongoing trends impacting the insurance industry.
Rokstone launched of terrorism facility for the U.S. market, with A-rated capacity, as it continues to grow its geographic presence and diversify its specialty product range. The product has been launched as a new breed alternative to TRIPRA, the U.S. federal program set up following the 9/11 terrorist attack on the World Trade Center to respond to terrorism events.
Chubb introduced a new insurance product, Benchmarq Package, for the lower middle-market segment, setting the standard for package policies focused on broader and more scalable coverage and efficiency. Benchmarq includes an expanded base coverage offering in both property and liability, resulting in insurance protection that is more inclusive than the typical industry package policies.
Ford Motor Company teamed up with Mile Auto, a next-gen InsurTech that specializes in computer vision and decision analytics, to offer an affordable car insurance option based on use to low-mileage drivers. Through Mile Auto’s technology-driven and privacy-centric pay-per-mile approach, Ford owners who drive under 10,000 miles per year could potentially save between 30%-40% off their current rates.
Tennessee Insurance consumers gained new protections for their personal, medical and financial information with passage by the Tennessee General Assembly of the Insurance Data Security Law. Signed by Tennessee Governor Bill Lee, the law takes effect July 1, 2021.
Evertas announced that it had raised nearly $5.8M in seed funding. The funding round was led by Morgan Creek Digital, CMT, HashKey, Wave Partners, RenGen, 4RC, Centrality, Plug ‘n Play, Vy Capital, and a number of individual investors, including James Slazas, Tyler Ward, Quinn Abrahams, Shy Datika, and Sandra Ro.