Around the P&C insurance industry: June 2, 2021
News from Agency Revolution, BMS, payCloud.io and more.
Agency Revolution partnered with Assure Alliance to deliver a custom, white-labeled marketing platform to its membership. Powered by Agency Revolution, Accelerate: Marketing Made Simple features support for communication via email, social media, personalized greeting cards, as well as virtual and in-person events. Bundled with a library of insurance-specific content, the platform makes marketing easy for Assure Alliance insurance agencies with the content and tools needed to capture new business and increase retention. The partnership exemplifies Assure Alliance’s commitment to accelerating its members’ success with robust marketing technology.
The Big “I” Agents Council for Technology released the Agency Cyber-Readiness Self-Assessment, now available online as a supplement to the Agency Cyber Guide 3.0. Agencies can now use the self-assessment tool to determine where they stand on cyber readiness, including vulnerabilities, best practices, and compliance with the ever-growing list of regulations and legislation surrounding cybersecurity compliance. The assessment helps clarify an agency’s preparedness through a brief series of questions, directing back to key resources in the Agency Cyber Guide 3.0 to solve pain points.
Builders & Tradesmen’s Insurance Services is leveraging Ask Kodiak to more rapidly and effectively communicate the company’s products and appetite to its agents. In such a competitive and hardening market, identifying and placing the right business with the right carrier is critical, and Ask Kodiak’s cloud-based software platform allows companies to market commercial and specialty products to independent agents and brokers with a new level of effectiveness.
Universal Fire and Casualty Insurance Company (UFCIC) is now live with ClarionDoor’s rating and quoting for three new commercial insurance products. By leveraging AAIS, UFCIC proprietary forms and rates, and ClarionDoor’s technology, UFCIC was able to launch three lines of business in four states in just under 90 days.
BMS announced the establishment of BMS Sigorta ve Reasürans Brokerliği A.Ş, headquartered in Istanbul. Servet Gurkan, chairman, together with Tamer Saka and Kerim Gurkan, will lead the new operation, which will report in London to Peregrine Towneley, chairman of international operations.
payCloud.io introduced a digital payment platform tailored for insurers and MGAs. While payCloud.io is a new name, the core systems and team have been in the insurance industry for more than two decades. Spun from insurance software pioneer, Silvervine Software, payCloud.io leverages the same forward-thinking digital payment technology combined with a dedicated payment focus. Its efficient digital payment offerings enable insurers to receive payments as well as initiate a variety of outbound payments to insureds, claimants, vendors and others. Secure and reliable, the company reports it recorded 99.99% uptime in 2020 and the previous five years.
LexisNexis Risk Solutions is launching Attract for commercial insurance, a platform that leverages a small-business financial exchange (SBFE) and provides insurance carriers with extended visibility and financial data insight on small- and micro-businesses. This model combines business credit data from SBFE with business data from LexisNexis Risk Solutions to create a more inclusive snapshot of a small-business insurance risk.