Around the P&C insurance industry: August 25, 2021
News from Venbrook Group, Alera Group, GuideOne Insurance and more.
PURE Group of Insurance Companies have expanded and updated its PURE Starling coverage for losses caused by fraud and cybercrime. In addition to this coverage, PURE will continue to offer members risk management services with PURE CyberSafe Solution, which includes a Cyber Knowledge Center, a Cyber Advice Line, a CyberSafe Fundamentals Check and identity protection services from Experian.
Venbrook Group, LLC acquired RD Parisi Associates, Inc. and David Morse and Associates. Since partnering with Parthenon Capital, a leading growth-oriented private equity firm in 2020, the company has experienced a year of rapid growth and completed multiple acquisitions.
Jewelers Mutual Group is teaming up with celebrity event planner Debi Lilly to promote the importance of jewelry insurance in the wedding planning process. A study completed on behalf of Jewelers Mutual in 2021 found that 70% of respondents said their engagement ring was one of the top three most expensive things they owned based on dollar value. While over 72% of people would be upset if something happened to the ring, 43% of households do not have the proper protection to replace the valuable if it was ever lost, damaged or stolen.
Alera Group acquired Related Risk, a third-party administrator that helps insurance companies and employers generate new premiums and profits by accelerating product speed-to-market while ensuring compliance with emerging and evolving statutory disability and paid family leave benefits.
GuideOne Insurance partnered with Azuga, a provider of commercial auto insurance telematics programs. This relationship allows GuideOne to provide its policyholders with fleet management tools to help them improve driving safety and optimize fleet performance.
Crawford & Company acquired edjuster, a technology-driven field and desktop contents claims handling solutions company. Edjuster is the established leader in contents services with 20 years of recognized experience in both the U.S. and Canada.
Cowbell Cyber released application programming interfaces (APIs) for streamlined digital distribution of cyber insurance. APIs allow insurance digital aggregators to integrate directly to Cowbell’s platform and enable instant quoting of Cowbell Prime 100. The introduction of APIs marks a first in the cyber insurance industry and ultimately accelerates the adoption of cyber insurance in the SME segment by multiplying options for agents to prepare quotes and for policyholders to access cyber coverage.