Around the P&C insurance industry: June 8, 2022
News from Loadsure, CatBoost, Worldwide Broker Network and more.
Loadsure launched Cargo Plus, an annualized ocean cargo product that will deliver the financial convenience of a pay-as-you-go policy with the assurance that annual cover provides. Cargo Plus will be offered worldwide and include all-risk coverage for goods and merchandise in transit, with limits of up to $10 million in international and $5 million in U.S. domestic conveyance.
CatBoost‘s open-source machine learning interpretation tools are being incorporated into fraud prevention company SEON offerings. Thanks to the update, more businesses can have access to enhanced efficiency and precision when fighting fraud.
Worldwide Broker Network announced that Respect, a.s. has joined as a member of the network in the Czech Republic. Established in 1993, Respect is an insurance brokerage focused on business insurance in the Czech and Slovak markets. With headquarters in Prague, the business is one of the region’s leading brokerage businesses and has an extensive network representation and a team of specialists in all areas of insurance.
Io.insure for SME transactions launched in the U.S. with senior-level hires Nate Stortzum joining as managing partner, ioPartners, and Gregory A. de Keersmaeker joining as managing partner – ioCustomer Success. The firm, part of the POP Holdings Group, is transforming the global specialist insurance experience through partnerships with advisors, insurance brokers, accounting firms, corporate financiers and banks, enabling them to join a marketplace that delivers niche products to customers, enabled by a combination of expertise, data & technology and a licensed insurance infrastructure.
Verisk’s Respond mapping and analytics platform, Respond MAP, enabled users to combine valuable weather data with locations of interest, such as policies-in-force, to quickly evaluate the impact of significant weather events. The solution provides critical insights for perils such as hail, wind, wildfire, tornado and hurricanes. Respond MAP is included as part of the Respond weather data package.
Duck Creek Technologies announced the availability of Duck Creek OnDemand, its cloud-based software-as-a-service solution, in the Microsoft Azure Marketplace. P&C insurance carriers with an existing Microsoft Azure Consumption Commitment may fully utilize newly contracted Duck Creek OnDemand spend to contribute to their Azure commitment. Duck Creek offers policy, rating, billing, claims, producer, insights, distribution management and industry content solutions in the Microsoft Azure Marketplace,.
Auriemma Roundtables announced a 2022 expansion into the insurance industry. As an information services company that builds deep relationships with its client community, Auriemma Roundtables’ goal is to connect leading companies with the right people, data and third-party experts to help them optimize their business practices, maximize efficiency, and navigate complexity.
Hub International Limited acquired the assets of Sandy Spring Insurance Corp. Sandy Spring Insurance was represented by the consulting firm Reagan Consulting for the transaction.
RIMS announced the addition of its 80th chapter in Louisville, Kentucky. RIMS Board of Directors reviewed the formal application, submitted by local risk professionals, and voted unanimously to establish the RIMS Greater Bluegrass Chapter.
Latitude Subrogation Services, LLC acquired Columbus, Ohio-based InspectionConnection, LLC, a full-service appraisal company specializing in heavy equipment, such as construction vehicles, tractors and trailers, and farm machinery.
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