Around the P&C insurance industry: November 30, 2022
Insurance industry news from Charles Taylor, WTW, NFP and more.
3motionAI launched its innovative 3DNeuroNET Engine. This powerful AI-based platform applies intelligence to raw human performance data, providing instant actional insights through easy-to-assess outcomes and form factors. The use of AI and computer vision has limitless applications and is currently automating nearly every industry sector.
Mosaic Insurance ramped up its global growth plan with the opening of an office in Frankfurt, Germany to meet high demand for cyber and transactional liability coverage through Continental Europe. Cyber risk specialist Dennis Bertram joins the company as director of Mosaic’s European entity and gead of Europe, cyber. The German office also includes M&A specialist Eileen Siemer, who joins Mosaic’s international transactional liability team, and cyber specialist Aron Zeiler. Mosaic plans to further expand its presence in Frankfurt over the next 12 months with additional senior hires.
Charles Taylor acquired Matrix Companies, a third-party administrator and risk management specialist. Founded in 2000, Matrix has established itself as a leading provider of workers’ compensation claims management in Ohio. As one of the largest TPAs in the state, Matrix has an exceptional reputation for providing end-to-end claims solutions with outstanding customer service. This acquisition further strengthens Charles Taylor’s presence in the Midwest as it continues its growth strategy across the country.
WTW launched a new research program, coordinated by the WTW Research Network, focusing on the most significant drivers of geopolitical risk and what global businesses can do to proactively manage these threats. As governments around the world continue to deal with the ramifications of COVID-19, a rapidly escalating geopolitical storm of political, economic and social disruptors is challenging established international systems and leading to increasing turbulence across the full risk landscape.
NFP acquired Olson & Olson Insurance Services, Inc., expanding its commercial P&C capabilities in the Denver marketplace. Firm leaders Darrell Olson II and Lance Olson will join NFP and report to John Hohman, president, West region, NFP. The transaction closed in September 2022.
PCF Insurance Services acquired Voluntary Benefits at Work. This insurance brokerage group designs and implements voluntary employee benefits solutions. VB@Work combines state-of-the-art benefits analysis, communication, enrollment, billing and support services, providing a strategic competitive advantage for the company across the benefits industry.
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