Aite Group LLC and Novarica Inc. joined forces to create an advisory firm focused on helping executives from banks, payments providers, insurers, securities firms, and their respective service providers respond to important technology, market, operations and regulatory changes.
Sigo, a managing general agency providing underserved populations with affordable access to auto insurance, is leveraging its newly secured funding to further serve the overlooked segment of immigrant and Latinx customers. The $1.5M seed round, with participation from Amicle Capital, Bonded Capital Ventures, Demeter Capital, Financial Solutions Lab, Park City Angels, and gANGELS will allow Sigo to launch an auto insurance product that removes biased rate factors from day one of the underwriting process.
Tractable launched AI Subro, a new solution that will help U.S. auto insurers resolve subrogation tasks with AI. AI Subro digitizes and accelerates many of the tasks involved in subrogation.
The Hanover Insurance Group, Inc. launched TAP Sales, a quote-and-issue platform for small commercial clients. With a brand-new interface and features, TAP Sales was designed to help The Hanover’s agents provide fast, streamlined quoting capabilities for its small business customers.
Hippo expanded into commercial insurance. Since Hippo brought its proactive approach to home insurance customers in 2017, the company’s focus has been on whole-home protection. For the first time, Hippo will offer insurance products that are tailored to targeted commercial insurance customers. Traditional commercial insurance offerings have lacked personalized coverage that can leave customers at greater financial risk.
Alera Group national insurance and wealth management firm, acquired of Keller Insurance Agency, a firm specializing in commercial property and casualty insurance, with a particular focus in senior living facilities.
Merchants Insurance Group has been named as one of Ward’s 50 top-performing insurance companies in the United States. The announcement was made virtually on Tuesday, July 20, 2021.
Ryan Specialty Group Holdings, Inc. raised $1.34 billion in its initial public offering debut, Bloomberg reported. Shares of the wholesale broker and managing underwriter sold for $23.50 in the IPO. On July 22, the shares rose to $25.60 before hitting $28, giving the company a market value of $7.15 billion.
H.W. Kaufman Group reported it is growing its global workforce and looking to create new spaces for its 2,000 employees to support its clients and insurance partners. To support this, Kaufman appointed Casmier Daniewski vice president, real estate. “More than ever, real estate will be a critical component of employee culture and have an impact on the vitality of a city center, which I’ve experienced first-hand. I am looking forward to applying my expertise to growing the real estate portfolio at Kaufman,” Daniewski said in a release.
Top Team Insurance joined Valley Insurance Agency Alliance, a cohesive family of nearly 150 independent insurance agencies in Missouri and Illinois. Top Team Insurance was founded in 2021 by David Johnson. The full-service agency specializes in personal and life insurance.
ACORD, the global standards-setting body for the insurance industry, announced a call for entries for its annual ACORD InsurTech Innovation Challenge, the event for innovation in insurance technology. The AIIC’s mission is to seek out, promote, and nurture sustainable technological innovation for the insurance industry, benefitting insurers, distribution channel stakeholders, and/or vendor partners. The deadline for submitting ideas is Friday, August 13.