Around the P&C insurance industry: September 20, 2023
Insurance industry news from NFP, RIMS Ontario Chapter, SageSure and more.
NFP partnered with Saint Piran, the world-renowned professional British cycling team based in Cornwall. The sponsorship will be recognized under the brand NFP X Saint Piran. Through the partnership, NFP will provide diverse support for the Saint Piran team, including risk advisory and commercial and personal insurance solutions. This includes access to NFP’s wide range of specialty risk management solutions and the insurance industry marketplace.
RIMS Ontario Chapter presented the Donald M. Stuart Award to Catherine Dowdall, director, insurance and loss control at AECON Construction. The Donald M. Stuart award is widely recognized as Canada’s highest honor within the risk management field and, since 1979, has celebrated Canadians who have made outstanding contributions to the profession. The award was presented at RIMS Canada Conference in Ottawa.
Origami Risk acquired Dais Technologies, a Chicago-based provider of a cloud-native and API-driven platform that streamlines the creation, management and distribution of digital insurance products.
LexisNexis Risk Solutions launched LexisNexis C.L.U.E. Auto Damage 360. LexisNexis C.L.U.E. Auto is the auto insurance industry’s most comprehensive claims history database, and C.L.U.E. Auto Damage 360 continues its tradition of providing insurers with an even deeper look into reported and unreported accident data to help refine their underwriting strategies.
Planck integrated powerful generative AI functionalities in a new underwriting workbench known as Planck PLUS. Planck PLUS is both a strategic toolkit and a trusted co-pilot that leverages the latest AI technologies and proprietary machine learning models to set a new standard in underwriting risk research, insight generation, data attribution transparency and automation.
Canopius Group expanded its U.S. Casualty business with its entry into the domestic U.S. excess casualty market on Canopius U.S. Insurance Company paper. This initiative underscores Canopius’ commitment to expanding its footprint in the U.S. insurance sector and enhancing its casualty capabilities.
National Association of Mutual Insurance Companies presented its Chair’s Award to F. Timothy Hegarty Jr., who left a major impact on the mutual property/casualty industry through decades of hard work and leadership.
BW Forsyth Partners LLC invested in WalkerHughes Group LLC. WalkerHughes is a privately held, founder-led retail insurance brokerage business headquartered in Indianapolis. The company provides commercial lines, personal lines and employee benefits services, with integrated operations and a leading proprietary technology system. WalkerHughes has grown organically and through 25-plus acquisitions of culturally aligned retail agencies in the Midwest.
FirstChoice, a MarshBerry Company, ranked as the #1 Top Agency Partner by Insurance Journal. This achievement is realized just one year after MarshBerry Platform and First Choice Agents Alliance (FCAA) came together to form FirstChoice. FirstChoice is geared toward insurance agency owners that want to create a path forward through strategic planning, technology resources, market tools, and education and training to build their business.
Independence Pet Group acquired Felix, the only pet insurance brand just for cats in the U.S.
Sedgwick launched an industry-leading climate risk and resiliency program designed to holistically address the impact of climate-related losses. The multidisciplinary solution — provided by Sedgwick and EFI Global, the company’s full-service forensic engineering, fire investigation and environmental, health and safety consulting division — encompasses property resilience assessments, environmental consulting, loss adjusting, and repair and restoration services.
AmTrust Financial Services, Inc. introduced a new admitted lawyers professional liability policy from AmTrust PRO that offers flexible, customizable protection for mid-sized law firms.
NEXT Insurance announced a differentiated new offering that will enable agents to fully customize coverage quotes to better meet the needs of their small business clients. NEXT’s Coverage Builder represents a fundamental leap in allowing agents the ability to micro-tailor small business quotes for their clients, all while maintaining NEXT’s superior instant bind capabilities. Coverage Builder is fast, easy to use, and tailored exclusively to agents pre-purchase, equipping them with the tools they need to select the appropriate limits and fully control the coverage they’re quoting.
Exdion Insurance launched an end-to-end consulting service to assist brokers and carriers in digitizing their operations.
SageSure launched sweeping enhancements to Expanded Markets, a program that offers additional capacity in coastal states through third-party products. Built to support producer needs in the most challenging markets, Expanded Markets complements the existing SageSure product suite and capitalizes on SageSure’s agile distribution model.
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