Around the P&C insurance industry: August 14, 2024
This week's update includes insurance industry news from CAC Group, One Inc, HONK Technologies and more.
CAC Group announced a brand relaunch, celebrating the company’s five-year anniversary. This evolution marks a significant milestone in the company’s journey, introducing an integrated brand aligned across the entirety of all CAC Group companies.
Higginbotham has teamed up with Turner & Associates Insurance of Brunswick, Georgia. This partnership with Turner & Associates further solidifies the firm’s commitment to the state and to the Southeast region. Along with the regional considerations, Turner & Associates shares Higginbotham’s dedication to client service, team support and community involvement — and boasts a powerful team driving industry-recognized performance and growth.
Sedgwick has expanded its global offerings with regional expertise to provide comprehensive, specialist services to the evolving marine sector. As part of the expansion, Ronnie Adcock has been appointed Global Practice Leader for the marine business.
RiverStone International partnered with QBE to provide a loss portfolio transfer reinsurance for various QBE subsidiaries, including their Lloyd’s syndicates. This transaction covers a diversified portfolio of business from international and North America markets and includes premiums earned through June 30, 2024.
PCF Insurance Services acquired the insurance business of DLD Insurance Brokers, marking the company’s ninth significant acquisition in 2024. DLD Insurance Brokers specialized in serving companies with multibillion-dollar portfolios in the construction, real estate, manufacturing, medical device and technology sectors as an extension of their risk management departments.
Florida Surplus Lines Association and the Florida Surplus Lines Service Office partnered with Florida State University to launch the “Florida Surplus Lines Speaker Series” in support of the future of the risk management profession. The announcement was made during the Florida Surplus Lines Annual Convention held in Tampa.
Over 2,500 state insurance regulators, staff, industry representatives, interested parties, and more have registered to attend the National Association of Insurance Commissioners’ hybrid Summer National Meeting this week in Chicago, Illinois. Taking place on August 12–15, the event is the second of three annual national meetings that showcase the collaborative approach at the heart of the state-based insurance regulatory system.
Insurity launched Insurity Spreadsheet API, a solution designed to help insurance organizations launch new insurance products faster by transforming the business logic in spreadsheets into easy-to-use APIs. This highlights Insurity’s commitment to providing innovative solutions that meet the evolving challenges of the insurance market.
Registration for the 2025 Global Insurance Symposium in Greater Des Moines is officially open. GIS offers an educational and networking opportunity that brings together over 500 insurance and financial services company executives, national and international regulators, state and federal government representatives, entrepreneurs and startup tech firms. The theme of the symposium’s 11th annual event is Insuring a World of Opportunity.
One Inc announced its inclusion in the Inc. 5000 list of fastest-growing private companies in America for a third consecutive year. This recognition highlights One Inc’s continued expansion in the digital payments insurance sector, boasting a 218% growth rate over a three-year period. Published annually, Inc. 5000 celebrates the fastest-growing private companies in the United States, honoring their exceptional achievements in business development and innovation.
Arch Insurance North America has partnered with digital risk processing platform Cytora to further digitize its risk intake and streamline underwriting workflows. Arch Insurance has been investing in digital transformation with the aim of making the risk intake process more efficient so that a higher volume of risks are onboarded and decisioned. By streamlining its risk intake, Arch can provide better, faster service for brokers and clients and provide underwriters more visibility for strategic portfolio management.
HONK Technologies launched a suite of service plans which simplify the process of comparing service offerings among roadside assistance software providers. While plans like these are fairly standard for SaaS companies, this has not been the case for the roadside assistance industry. HONK’s three innovative plans: HONK Core, HONK Enhanced and HONK Enterprise, are designed to simplify decision-making for customers looking for a new roadside assistance partner and bring an unmatched level of transparency to the industry.
Incline P&C Group announced its inclusion for the third consecutive year in the Inc. 5000 annual list, the most prestigious ranking of the fastest-growing private companies in America. This list provides a data-driven look at the most successful companies within the economy’s most dynamic segment — its independent, entrepreneurial businesses. The prestigious ranking has previously honored household-name brands such as Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle and Patagonia, marking their first national exposure.
Related: