Category Archives: Business: Insurance

Press Releases from the Insurance world, What’s new, Popular, Trending and News Worthy. In the ever changing industry of Insurance.

Bond-Pro Announces Birlasoft as Surety Systems Integration Partner


Birlasoft looks forward to addressing an obvious gap in the market and assisting Sureties of all sizes through successful implementation of the Bond-Pro® Enterprise Next Gen® software platform.

Birlasoft Ltd, of the USD 2.4 billion diversified, The CK Birla Group, and Bond-Pro, the leading provider of Surety and Specialty Insurance software products, announced today the execution of an agreement to provide a variety of services to Sureties, who have opted to license Bond-Pro® Enterprise Next Gen®. This includes business process transformation consulting and strategy, data migration, integrations, training, testing, and quality assurance services.

“Birlasoft continues to innovate with vertical-specific solutions. Upon discovery of this niche specialty line of insurance, we identified an unfilled demand for Surety technology implementation expertise,” said Milind Sathe, Head of the Insurance Vertical, Birlasoft. “Bond-Pro is the clear leader in the Surety Technology space, and we are thrilled to partner with them. Birlasoft looks forward to addressing an obvious gap in the market and assisting Sureties of all sizes through successful implementation of the Bond-Pro® Enterprise Next Gen® software platform.”

“We are very excited that Birlasoft has joined the Bond-Pro Partner Ecosystem. Bond-Pro was seeking partnership with a systems integrator who had experience working with large insurers, and offered accelerated solutions with a proven track record of working collaboratively with organizations of all sizes,” said Jeffrey York, Executive Vice-President of Business Development, Bond-Pro. “Our relationship with Birlasoft provides mutual clients another trusted implementation partner who is committed to Surety and offers an agile approach to successfully implementing Bond-Pro.”

Recently, Birlasoft was named a Top 15 Sourcing Standout by the Information Services Group (ISG), a global technology research and advisory firm. The company received an Oracle Excellence Award in the Emerging Technologies category, and was also recognized with the “Companies with Great Managers™” award by the People Business Initiative and The Economic Times.

About Bond-Pro

Bond-Pro is the developer and publisher of Bond-Pro® Enterprise Next Gen®, the leading Surety automation and management software utilized by hundreds of agencies and dozens of Surety carriers worldwide. It drives greater premiums, improves underwriting efficiency, reduces costs, and mitigates risk. Bond-Pro’s enterprise products and services enable Surety professionals to fully computerize and effectively manage the entire Surety life cycle including, Accounts, Jobs, Bonds, and Claims. For more information, please call (813) 413-7576 or visit http://www.bond-pro.com.

#SuretyTech #SuretySuccess #HighlyConfigurable #RelevantForms #NoTripleEntry #DigitalSurety

About Birlasoft

Enterprise to the Power of Digital™

Birlasoft combines the power of domain, enterprise, and digital technologies to reimagine business processes for customers and their ecosystem. Its consultative and design thinking approach makes societies more productive by helping customers run businesses. As part of the multibillion-dollar diversified The CK Birla Group, Birlasoft with its 10,000+ engineers, is committed to continuing our 158-year heritage of building sustainable communities. For more information, visit http://www.birlasoft.com.

For further information, please contact:

Melissa Womack

Head, Global Marketing

Birlasoft

Melissa.womack@birlasoft.com

+1 732 321 0921

+1 732 321 0922

Suma Nair

AVP & Head – Corporate Marketing, Birlasoft

Suma.nair@birlasoft.com

+91 983 308 4449

Disclaimer

Some of the statements in this update that are not historical facts are forward-looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.

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Cheap Car Insurance Tips – New Guide For Saving Car Insurance Money


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“The price of car insurance is likely to continue to rise in the near future. Fortunately, there are several things drivers can do to save money on their car insurance policies”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Compare-autoinsurance.org has launched a new blog post that presents some important tips that can help drivers pay cheaper car insurance rates.

For more info and free car insurance quotes, visit https://compare-autoinsurance.org/top-tips-that-can-help-drivers-save-car-insurance-money/

In the past years, car insurance rates have continued to rise across the country. The increased price of vehicles and the increased number of claims are just a few of the reasons for this continuous rise in insurance prices. Unfortunately, insurance rates aren’t likely to come down in price anytime soon. However, there are a few things policyholders can do to minimize the effect of the increased premiums on their wallets.

Drivers looking to save money on car insurance should consider following the next tips:


  • Add multiple cars and drivers to the policy. Drivers who obtain a quote from an insurance company to insure a single car will end up getting a higher quote per vehicle than if they inquired about insuring several drivers or vehicles with that provider. In some circumstances, insurance providers are willing to give a better deal to policyholders that are bringing more business to them. Also, insurance companies can provide a discount to those policyholders that maintain other policies at them, such as homeowners insurance.
  • Be a safe driver. A clean driving record with zero at-fault accidents and tickets can help drivers save money. Most providers offer a discount that can range from 10 to 25% to those policyholders that managed to stay safe on the roads for a number of years.
  • Get a car that is cheap to insure. Insuring a huge SUV can be more expensive than insuring a small, but safe lower-cost commuter car. Also, some insurers will offer a discount for buying a hybrid, an alternative fuel vehicle, or a fully electric vehicle.
  • Increase the deductible. The deductible is the amount of money policyholders have to pay before the insurance kicks in. Depending on the policy, deductibles typically range from $250 to $1,000. By increasing their deductibles, policyholders can pay lower premiums.
  • Improve the credit score. In many states where is allowed, the insurance companies use the credit score to determine insurance premiums. Insurance providers claim that their studies show that if a driver is responsible in his personal life, then that driver is less likely to file claims.
  • Install anti-theft devices. Policyholders can lower their annual premiums if they install anti-theft devices. For that to happen, policyholders will need to contact their insurance providers and ask them for what installed anti-theft devices they offer discounts. Car alarms and LoJacks are just a few of the devices that are eligible for a discount.
  • Apply for usage-based insurance. Usage-based insurance policies are perfect for safe drivers who don’t use their cars that often. Typically, the insurance provider will install a telematics device in the vehicle to track how much, how well, and when the policyholder drives. Based on these factors, the policyholder might be eligible for a discount.
  • Shop around. It makes sense to get quotes at least once per year from other companies, to check if lower rates are available. When getting quotes, drivers should ensure they compare the same policies and options.

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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Why Insurance Rates Have Gone Up Recently


Right now, we are in a time where interest rates are extremely low. This may be great for the homeowners who can save on their mortgage payments, but for cash heavy businesses such as insurance companies, it is not.

As an insurance broker, one of the most common questions Filip Ambroziak receives is “why have auto/home insurance rates gone up so much?”. This is a fair question especially that a majority of clients asking are great drivers with great records.

So why have insurance rates gone up and seem to go up every year?

The answer to this question will be based on client experiences, insurance companies and other insurance professionals which Filip works with on a daily basis. Filip will also only be talking about the general insurance landscape. Individual client rate increases could be a combination of personal rating factors and an increase in the base rates.

1. Fraud

This is something the public already knows. Sadly, it will continue being the reason for insurance increases for the foreseeable future.

There are two types of fraud: soft fraud and hard fraud.

Soft fraud are more of an exaggeration of what actually happened. Lets say a home burned down, and as the client is listing their personal items to the insurance company, it is mentioned that the client had a 55″ flat screen TV when in reality, it was a 43″ TV. The claim still occurred but the client exaggerated the damages.

Hard fraud is 100% false in nature. An example would be a group of people plan a situation where a vehicle rear-ends them and they all claim accident benefits.

Both types of fraud are one of the main reasons insurance has been increasing every year. In the Greater Toronto Areas, there are fraud rings who defraud the insurance companies regularly. Until fraud is put to a stop, insurance rates will continue to increase.

2. Low Interest Rates

Right now, we are in a time where interest rates are extremely low. This may be great for the homeowners who can save on their mortgage payments, but for cash heavy businesses such as insurance companies, it is not.

Insurance companies have two primary ways they make money: underwriting profits and interest.

An underwriting profit occurs when the insurance companies pay out less in claims then they received as premium. If a company pays out more in claims than they received in premiums, it is known as an underwriting loss. The last several years, most insurance companies have been operating at an underwriting loss.

The second way an insurance company makes money is through interest collected. Generally, the companies invest their money into safe investments that generate safe returns. Due to the extremely low interest rates, insurance companies were not able to offset their underwriting losses with good investment returns.

3. Claims Frequency + Repair Costs

Claim frequency and claim costs have been on the rise in Ontario, not just fraudulent claims. Since the GTA is welcoming a large amount of new residents every year, this puts more cars on our roads. With higher density comes more claims.

If a customer has a small fender bender on a 2016+ vehicle, the cost to repair that vehicle has become pricey. These new vehicles are equipped with expensive safety features, sensors, cameras and other fancy technology which in many cases requires special tools to repair. In one case, a small windshield claim costs upwards of $1,600 due to the display technology in the windshield. This was a Honda Accord.

This also applies to home policies. Labor, materials and new by-laws make rebuilding homes much more expensive than a decade ago. With all the recent storms and natural disasters, it makes sense that insurance companies are increasing their rates.

Filip Ambroziak’s Prediction:

2018-2020 have been the perfect storm for a major increase in insurance rates. With low interest rates, high claim frequency and repair cost and fraud, insurance premiums have no where to go but up.

Filip predicts that there will be multiple increases in 2021 and for the next few years after that. The GTA is currently a very attractive place to move to and immigration is not slowing down post COVID.

Another note to keep in mind is that the insurance industry in Canada is currently in a “Hard Market”. Insurance companies not only are increasing their rates, but tightening their underwriting rules. Ambroziak predicts that we will be in a hard market for another 12-18 months.

If you are ever looking for an insurance quote in Ontario, feel free to reach out to Filip Ambroziak at (416) 803-2113 or at https://www.filipambroziakinsurance.com/.

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How to Get Affordable Car Insurance Just by Following Several Smart Tips


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“Drivers can obtain cheaper car insurance rates easily. All they have to do, is to follow several money-saving methods”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Compare-autoinsurance.org has launched a new blog post that presents how drivers can obtain cheaper car insurance rates.

For more info and free car insurance quotes, please visit https://compare-autoinsurance.org/how-to-make-car-insurance-rates-cheaper/.

Everyone wants to pay lower car insurance premiums. However, in recent years, the insurance costs have been on the rise and the tendency is expected to continue throughout the entire 2020

To lower the costs of car insurance, drivers should follow the next tips:


  • Drivers should consider increasing deductibles. To obtain cheaper car insurance, drivers can agree to pay more money from their budget If they have to make a claim. Policyholders should put away the money necessary for filing a claim.
  • Consider driving fewer miles. If a policyholder doesn’t drive his car too often, he might be eligible for a low mileage discount that typically ranges from 15% to 20%.
  • Bundle multiple policies. Policyholders can easily bundle their car insurance with their homeowner’s insurance. In some cases, a policyholder can save as much as 20% simply by bundling multiple policies into one.
  • Install safety devices. Many insurance companies offer generous discounts for drivers that make their cars safer. Safety devices like a rearview camera, GPS tracking system, immobilizers, airbags, blind spot detectors, various anti-theft devices will make the car safer. The value of the discounts varies depending on the type of device installed.
  • Be a good driver. A driver with no traffic tickets and no accidents for a number of years is eligible for a safe driver discount. Most insurance companies will lower premium rates after three years of clean driving, while other insurers will wait even five years to provide this discount. Usually, this discount will lower insurance rates by 10%-20%.
  • Consider usage-based programs. Many insurance companies offer this type of programs. Usually, a small telematics device is installed inside the driver’s vehicle. This device will send driving habits data back to the insurer. Drivers with good driving habits are rewarded with large discounts

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/.

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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Mercury Insurance and Wildfire Expert Douglas Kent Tackle Common Myths in Fire Country


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Caring for your home throughout the year has many benefits, including improving the chance it will survive a wildfire.

When wildfire season hits, there’s no such thing as being too prepared. The first step Californians can take to survive a devastating wildfire season is to look past the myths that spread fear amongst homeowners.

One prevailing myth is that fire protection costs a lot of money – but it doesn’t have to. Resilience in fire country is dependent upon maintenance, not necessarily materials.

“Caring for your home throughout the year has many benefits, including improving the chance it will survive a wildfire,” said Kelly Glover, director of personal property underwriting at Mercury Insurance. “Develop a plan to tackle a small number of tasks each month, as this will make the list very manageable.”

Some easy-to-tackle tasks that can help reduce a property’s chance of ignition include:

  •     Making sure your address is visible from the street
  •     Cleaning your roof and gutters
  •     Not letting your plants dry out

Wildfire land management expert Douglas Kent, author of Firescaping: Protecting Your Home with a Fire-Resistant Landscape, addresses this and some of the other most common myths in fire country.

About Mercury Insurance

Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit http://www.mercuryinsurance.com or Facebook and follow the company on Twitter.

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Insurance Experts Present Multiple Tips For Getting Cheaper Car Insurance


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“Being a safe driver, having safety devices installed and making smart coverage changes will help you save money on car insurance”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Autocarinsurancetips.com has launched a new blog post that presents 7 ways in which a driver can obtain cheap auto insurance.

For more info and free car insurance quotes online, visit http://autocarsinsurancetips.com/7-top-tips-for-cheaper-car-insurance/

Car insurance rates are determined after analyzing multiple factors, including car model, driving history, and ZIP code. While some factors, like state legislation, are beyond driver’s control, other rating factors can be modified and bring the costs down. Find out how to get better premiums:

  • Use online car insurance quotes. Brokerage websites are recommended to complete car quotes. Make sure you complete the same information on all the questionnaires. After you received at least three car quotes, start analyzing them in order to find the most advantageous deal. Also check all available discounts offered by each insurer.
  • Purchase higher deductibles. Deductibles are the money paid by the policyholder before the insurance policy kicks in. By raising deductibles, the policyholder will lower his premium rates.
  • Keep a clean driving record. A driver with no traffic tickets and no accidents for a number of years, is eligible for a safe driver discount. Most insurance companies will lower premium rates after three years of clean driving, while other insurers will wait even five years to provide this discount. Usually, this discount will lower insurance rates by 10%-20%.
  • Carefully select the car model. Factors like the likelihood of theft, costs to repair and safety record, determine the price of the insurance rates. Safety and anti-theft devices also play a significant role in determining the premium of a vehicle
  • Keep a good credit score. Insurance companies calculate rates based on how good or bad is a person’s credit score. Drivers with bad credit scores will pay higher insurance rates. Improve credit score by using balance transfer credit cards of short term loans with a credit union.
  • consider dropping full coverage. If the car is worth less than ten times the premium, having full coverage may not be cost effective. Auto dealers and banks can tell you how much your car is worth it.
  • Pay annually. Drivers can save even 10 percent form theirs premium, by choosing to pay the whole insurance once. In that way, they will no longer pay monthly administrative fees.

For additional info, money-saving tips and free car insurance quotes, visit http://autocarsinsurancetips.com/

Autocarinsurancetips.com is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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IMUA Announces Election Results For 2020’s Officers & Board Members


The Inland Marine Underwriters Association (IMUA) announced the election results for the association’s 2020 slate of officers and board members. Bruce Jervis, Chubb, was re-elected the association’s Chairman, Jessica Frankovich, Deputy Chair and Anthony Falcone, One Beacon, Vice-Chair.

Commenting on this re-election Bruce Jervis praised the work of the IMUA and its continuing commitment to advancing the goals of the inland marine industry, especially in these unusual times. He said, “As we continue to face the challenges presented by the COVID-19 pandemic, I am gratified by hard work and dedication of our Board, working in conjunction with the IMUA’s professional staff, in keeping our association relevant and effective. They have been unwavering in focusing on delivering outstanding professional development opportunities, through various means, including our new online eLearning initiatives while increasing IMUA’s visibility and reach within the insurance industry.”

Also announced was the election of the slate of Board of Directors. They are:

Class of 2021:

Robert Smith — LIBERTY MUTUAL

Arthur Sieder — GREAT AMERICAN

Michelle Sipple — EVEREST

Donna Restaino — NAVIGATORS

Mike Perrotti – AXA XL

Class of 2022:

Randy Schlosser — MUNICH RE AMERICA

Donald Keahon — ASPEN SPECIALTY

Jeff Vetter — ASCOT INSURANCE

Bradley Cameron — SOMPO INTERNATIONAL

Rich Soja — ALLIANZ GLOBAL CORPORATE & SPECIALTY

Class of 2023:

Ben Skurek — GEN RE

Ben Tuttle — TOKIO MARINE

Michelle Hoehn — TRAVELERS

Paul Orsi — ZURICH NA

Drew Cadelli — CNA

Kevin O’Brien and Lillian Colson — the Association’s President and CEO and Vice President and Secretary respectively — were also re-elected.

IMUA is the national association for the commercial inland marine insurance industry. IMUA serves as the voice of its member companies representing over 90 percent of all commercial inland marine insurers. The association provides its members with comprehensive training and educational programs, including research papers and bulletins, industry analysis and seminars. IMUA was founded in 1930.

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ReFirm Labs Launches IoT Cybersecurity Education Program to Advance Cyber Skills and Tackle Emerging National Security Threats


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We are excited to help provide the hands-on education that is needed to build the next generation of cyber professionals and fill the cyber skills gap, and ultimately defend our society in cyberspace.

ReFirm Labs, a provider of the industry’s first proactive IoT and firmware security solutions, today launched the IoT Cybersecurity Education Program with the mission to advance cyber education around IoT devices while helping tackle the national security problem of emerging IoT threats.

By providing free access to its Centrifuge automated firmware analysis platform, ReFirm Labs will put the latest technology into the hands of students and researchers at the nation’s top universities to help them explore IoT device security, learn how to build secure products, and conduct their own research.

As 5G communications take off, billions of devices will be connected to networks and critical infrastructure. This presents a major attack surface that has historically been vulnerable. In March the US Cyberspace Solarium Commission’s report highlighted the threat to the nation from cyber attacks and provided recommendations, including improvements to cybersecurity education in order to address the cyber workforce gap of over half a million private and public sector jobs.

“Recently we have seen more universities incorporating firmware analysis and reverse engineering into their curriculum, to teach product security assessment techniques or to just educate students about the risks of network connected devices. We have also seen more students conducting and publishing their own vulnerability research,” said Derick Naef, CEO of ReFirm Labs. “We are excited to help provide the hands-on education that is needed to build the next generation of cyber professionals and fill the cyber skills gap, and ultimately defend our society in cyberspace.”

In the first phase of the program, ReFirm Labs will partner with 10 higher education institutions to provide access to the Centrifuge Platform. ReFirm will also create and foster a community to promote collaboration and sharing of curriculum, labs, and research ideas. Because Centrifuge is a cloud-based platform and requires no agents on the network or SDK implementation on the device, students and researchers can access it remotely for classes that have moved online.

One early adopter of Centrifuge in the classroom, Dr. TJ O’Connor, Program Chair Cybersecurity for Computer Engineering and Sciences at Florida Tech, said, “We used Centrifuge in an undergraduate class this spring, and it really opened the students’ view of the abundance and severity of vulnerabilities in current firmware for a wide range of IoT devices. With the Centrifuge Code Analysis, students were able to uncover binaries with unsafe function calls and lacked memory protection. Further, with the Centrifuge Software BOM reports, our students uncovered current firmwares using legacy software components with known vulnerabilities. The ease of the platform provided students an opportunity to quickly dissect and discover the insecurity of several firmware samples.”

Texas A&M will also adopt Centrifuge for undergraduate education, as well as to support research evaluating the cybersecurity of next generation equipment at the Internet2 Technology Evaluation Center (ITEC). Dr. Walt Magnussen, Director of ITEC, said, “We work with more than 340 leading research universities in the nation to support the deployment of advanced communication and collaboration services such as Next Generation 9-1-1, Public Safety Voice Services and Public Safety Information Sharing. Information Assurance has to be a primary consideration in all of these areas. Providing access to IoT security tools such as Centrifuge supports our mission to collaborate with industry and make leading-edge technology accessible to graduate and undergraduate students.”

ReFirm Labs is focused on building solutions to evaluate the security of IoT and embedded systems and is the creator of the binwalk open source tool, which is used by security researchers worldwide as a starting point in studying vulnerabilities in IoT devices.

How to Participate in the IoT Cybersecurity Education Program

Participation is open to higher education institutions with a cybersecurity curriculum that involves firmware analysis, penetration testing, reverse engineering, or building secure devices. Interested parties can reach out to ReFirm Labs by visiting the IoT Cybersecurity Education Program website: https://www.refirmlabs.com/education

About ReFirm Labs

ReFirm Labs provides the industry’s first IoT and firmware security solutions that proactively vet, validate and continuously monitor IoT devices from hidden threats. Its flagship product, Centrifuge Platform®, detects and reports potential zero-day vulnerabilities, hidden crypto keys, backdoor passwords and known vulnerabilities in IoT devices without needing access to source code. ReFirm Labs’ technology has been proven to provide the insight and intelligence needed for users to proactively defend connected devices and maintain compliance and the integrity of supply chain security. Founded by a team of former NSA offensive cyber operators, ReFirm Labs is trusted by government agencies and Fortune 500 companies that operate in a wide variety of industries, including: telecommunications, cloud infrastructure and data centers, automotive, health care, utilities, and manufacturing. For more information, visit https://www.refirmlabs.com or follow on Twitter @ReFirmLabs.

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Claim Genius Raises $5.5 Million in Series A Funding


Claim Genius celebrates closing of Series A funding round

Claim Genius team celebrates Series A closing with Financial Link & SIRI Info Systems

“Today’s funding will help us make touchless auto claims a reality for our customers worldwide.” – Raj Pofale, CEO Claim Genius

Claim Genius, a world leader in instant vehicle damage assessment solutions using computer vision and artificial intelligence technology, announced the closing of its $5.5 million Series A funding round today, following its earlier $2.3 million seed round in 2018. The latest round is backed by a diversified mix of strategic investors including Malaysia-based Financial Link (http://www.financial-link.com/), a pioneer of digital insurance automation services in Asia, and SIRI Info Solutions (https://www.siriinfo.com/) a global technology solution provider based in Edison, New Jersey USA.

Claim Genius is rapidly expanding its AI services globally, with multiple integration projects underway for top insurance carriers, third party loss adjusters, repair shop networks and auto leasing firms. At present Claim Genius’s AI solutions have been piloted by over 15 customers across the US, Canada, SE Asia, India and European Union. Claim Genius recently launched Version 3.0 of its GeniusCLAIM web and mobile suite which includes many features that enhance its powerful claim assessment capabilities, including improved photo capture workflow, increased damage detection accuracy, and simplified customer onboarding and integration. GeniusCLAIM provides industry-leading functionality and performance in an easy-to-use package, allowing customers to quickly transform their claim operations to decrease cycle time, reduce loss adjustment expense, and increase profitability. The Series A funding will help Claim Genius to further scale its sales and development efforts and facilitate the launch of the new products for the auto claims market worldwide.

“We are thrilled to announce the closing of our Series A round and fantastic new partnerships with Financial Link and SIRI Info Solutions,” said Raj Pofale, founder and CEO of Claim Genius. “The auto claims industry is in the midst of a global revolution, driven by advancements digital and mobile technology, artificial intelligence, and machine learning. Claim Genius is leading the charge of this transformation through our advanced product capabilities and growing list of technology and delivery partnerships across the entire claims ecosystem. Today’s funding will further enable us to scale this vision and truly make touchless claims a reality for our customers worldwide,” Raj added.

“Our strategic investment and partnership with Claim Genius is another example of Financial Link bringing innovative and creative solutions that improve the responsiveness, accuracy and efficiency of the claims management process,” said Cheam Wooi Seong, CEO of Financial Link. Founded in 1994, Financial Link is a leading insurance technology provider for Malaysia and SE Asia providing digital insurance solutions to over 90% of the General Insurance Industry and major automotive distributors and franchisees. With Claim Genius, Financial Link will have the capability to provide a more complete suite to the insurance industry in South East Asia, from instant vehicle damage assessment to submission of claims to insurance companies and roadside assistance support services.

SIRI Info Solutions is a New Jersey-based technology services provider with a broad portfolio of staffing and support solutions for customers, including the insurance industry. “SIRI is proud to be a part of both rounds of funding for Claim Genius. We firmly believe that insurance industry will greatly benefit from the innovation and AI solutions that Claim Genius is driving across the industry,” said Subba Arumilli, Founder & CEO of SIRI Info Solutions.

About Claim Genius

Based in Iselin, New Jersey, USA, with development centers in Nagpur & Hyderabad, Claim Genius, Inc is a rapidly emerging leader of AI-based claims solutions for the auto insurance industry. Using Claim Genius’s patent-pending image analysis and predictive analytics tools, carriers can provide instant damage estimates and rapid processing of claims based on uploaded accident photos from our easy to use mobile app. Claim Genius aims to reduce claims processing time, increase carrier profitability, and revolutionize the claims experience for insurance customers worldwide. Claim Genius Makes Touchless Claims A Reality.

About Financial Link

Incorporated in 1994, Financial Link Sdn. Bhd. Is one of the leading system integrators and application service providers in Malaysia. Our breadth of innovative digital services and solutions have enabled us to build a broad customer portfolio that includes a wide array of private sector and governmental firms, including over 90% market share among general insurance companies, automotive distributors and franchisees, local banks, and numerous major telecommunication companies across Malaysia.

About SIRI Info Systems

Siri InfoSolutions is a private equity consortium providing IT staffing services to Fortune 500 clients across the US. Based in Edison, NJ and Hyderabad, India, we provide a variety of technology development and support services to a wide spectrum of global customers across verticals such as Banking, Financial Services, Healthcare, Human Resources, Telecom, Insurance, Hospitality, Retail & Distribution and Manufacturing.

Contact Information

https://claimgenius.com

contactus@claimgenius.com

732-546-3809

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CBS Insurance of Texas Partners with United Benefit Advisors


United Benefit Advisors (UBA), the nation’s leading independent employee benefits advisory organization, welcomes CBS Insurance to our community of Partners.

Based in Abilene, Texas, CBS Insurance is a full-service firm that has forged close, long-term relationships with their clients. Their team-based consultative approach draws on a diverse knowledge base to create personal and commercial coverage programs designed to fit their clients’ individual insurance needs.

“CBS Insurance is known for being a firm committed to meeting their clients’ insurance needs by utilizing the combined knowledge of the CBS team” said UBA Board Chairman, Gary Jurney. “Their level of dedication to collaboration and sharing is a key to what makes UBA Partners so successful in serving their clients.”

“Our team at CBS Insurance, LLP is excited to join United Benefit Advisors, to help strengthen our benefits department while utilizing the combined wisdom and resources from across the country. This relationship will help us to stay ahead of our local competition and provide the most up-to-date resources to help our clients navigate the ever-changing health care environment in West Texas,” said CBS Insurance Partner Kevin Goodman.

CBS Insurance is one of the newest Partners to join the UBA community of independent employee benefits advisory firms that serve employers of all sizes globally. As a combined group, UBA’s annual employee benefit revenues rank it among the top ten employee benefit advisory organizations globally.

About CBS Insurance

CBS Insurance was established in 1992 by a group of insurance professionals who envisioned a better way to provide quality insurance services and products to their clients. Since then, CBS Insurance, LLP has devoted its knowledge and combined experience in the industry to deliver quality coverage programs to individuals and businesses. To learn more about CBS Insurance, visit http://www.cbsins.com

About United Benefit Advisors®

United Benefit Advisors® (UBA) is the nation’s leading independent employee benefits advisory organization with more than 200 offices throughout the United States, Canada, England and Ireland. UBA empowers more than 2,000 Partners to both maintain their individuality and pool their expertise, insight, and market presence to provide best-in-class services and solutions. Employers, advisors and industry-related organizations interested in obtaining powerful results from the shared wisdom of our Partners should visit http://www.UBAbenefits.com.

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