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.

Business: Insurance

EZLynx Partners with Clearent to Offer Secure Online Payment Processing for Independent Insurance Agencies and Their Clients

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LEWISVILLE, Texas (PRWEB)

EZLynx is proud to announce that it has partnered with Clearent to offer secure online payment processing for independent insurance agencies. Insureds can remit payments via credit card or eCheck easily and securely within EZLynx Client Center.

This new integration provides a simple way for agents to collect electronic payments from their clients. With current restrictions on travel and face-to-face meetings, providing a remote, contactless form of payment is particularly important. This added functionality to EZLynx Client Center eliminates the need for clients to visit the agent’s office or provide their credit card information over the phone. Electronic payment is also a safer, more efficient alternative to paper checks.

“Especially now, insureds need online options for the payment process, both paying from home and deferring payments,” said EZLynx Product Manager, Derek Armentrout. “Our partnership with Clearent makes it simple for agents to provide these alternatives.”

The industry trend toward customer self-service has never been more pressing, and the addition of payment processing to the EZLynx ONE PLATFORM answers this call.

“It is imperative that insurance customers have the ability to make payments with flexibility. That’s why we are excited to announce our partnership with EZLynx,” said Clearent Vice President of Partner Solutions, Doug Bernier. “Through a single integration, EZLynx’s customers will be able to safely and securely take payments online right within the EZLynx platform.”

Clearent is the latest addition to the EZLynx Connect platform. EZLynx Connect provides third-party businesses an avenue to distribute their products and services directly within the EZLynx platform. We’ve opened the EZLynx framework and invited carriers and vendors to work side-by-side with our technologists to innovate and integrate solutions to better the agency workflow.

About EZLynx

EZLynx is one of the leading software solutions for independent insurance agencies. In 2003, EZLynx pioneered real-time rating, enabling agents to generate quotes from multiple insurance carriers with a single data entry point. EZLynx has continued to create innovative software solutions that transform every facet of agency life, including agency management, client self-servicing, sales pipeline management, marketing and communications, accounting, eSignature, and more, all available on a unified, one platform solution. Over 20,000 agencies rely on EZLynx to provide more than 4 million home, auto, and package transactions every month. Learn more at EZLynx.com.

About Clearent

Clearent is a full-service payment-solutions provider with more than 600 employees, 50,000 customers, and $20 billion in payment processing volume. Clearent helps small- and medium-sized business owners securely accept payments anywhere with no hidden fees and transparent pricing. Headquartered in St. Louis, the company has been named to several prestigious lists year after year, including the Inc. 5000 list of fastest-growing companies, The Nilson Report’s list of top U.S. merchant acquirers, and The St. Louis Post-Dispatch Top Workplaces award. To learn more, visit clearent.com.

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Business: Insurance

NFP Names Thomas Sheffield Head of Management and Professional Liability Group

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“These are exciting leadership changes for an important and increasingly complex part of our business,” said Lombardi.


NEW YORK (PRWEB)

NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement, and individual solutions, today announced the appointment of Thomas Sheffield, a managing director with the company, to lead the Management and Professional Liability group. This move aligns with NFP’s continued focus on expanding their specialty industry and product capabilities and further enhancing their ability to meet the dynamic and complex risks clients face.

Sheffield, who joined NFP in 2019, will lead the team charged with driving growth across NFP’s management and professional liability business, including directors and officers, employment practices and fiduciary liability, cyber, professional liability, trade credit, and kidnap and ransom. Sheffield has more than 20 years of experience helping companies manage complex risk insurance programs, providing clients with expertise and professional service. Based in New York City, Sheffield will report to Henry Lombardi, EVP and head of NFP Property and Casualty.

In addition, Will Walker, a senior vice president with the company, has been appointed to lead NFP’s management liability panels. The Specialty panels provide clients with best-in-class terms, conditions and service with premier carriers, supported by NFP-specific coverage. Walker will work closely with Sheffield and the entire team to deliver the benefits of the panel to clients while continuing to refine and improve the program structure and coverage.

“These are exciting leadership changes for an important and increasingly complex part of our business,” said Lombardi. “With the rapid transition we’ve seen in the management liability space, we continue to take steps to create value for clients through focused leadership and specialized expertise and capabilities. We look forward to Tom and Will’s contributions to our growth and success.”

About NFP

NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,600 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 6th largest US-based privately owned broker, and 8th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).

Visit NFP.com to discover how NFP empowers clients to meet their goals.

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Business: Insurance

IT Outsourcing in Life & Annuities Insurance Industry is Readying for Cost Transformation by Systems Simplification and Rationalization—Everest Group

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Everest Group

Above all, L&A insurers need to double down on user experience and efficiency, and that’s why adopting a modern platform-first operating model is crucial to the future success of the L&A insurer.


DALLAS (PRWEB)

The Life & Annuities (L&A) insurance segment experienced a growth in premiums of 2.0% to 2.5% in 2019, but this is expected to drop to -3.5% to -1.5% through 2020 as a result of the COVID-19 crisis, according to Everest Group. However, long-term industry growth fundamentals remain robust amidst the COVID-19 turmoil, albeit with concerns on investment income shock, demand shock, and claims shock leading to near-term financial distress. As the coronavirus crisis abates, the L&A industry segment will invest in IT to drive cost efficiency and improve user experiences, contributing to a modest 0.9% compound annual growth rate (CAGR) of L&A IT outsourcing through 2022.

Everest Group projects that IT spending hotspots for L&A insurers in the future will include omnichannel digital solutions for customers, digital tools for agent enablement, shifting legacy applications to modern platforms, automation, analytics, Robotic Process Automation (RPA), and Application Programming Interface (API) solutions to integrate third-party services.

Everest Group advises L&A insurers to focus on the following IT priorities to ensure future success:

  • Investing both in platforms to drive long-term cost transformation and in technology solutions such as automation, analytics, and cloud for improved process efficiency and compliance.

  • Capturing the digital channels opportunity:

  • – Improving the online research and shopping experience.

  • – Balancing human and digital touchpoints in the sales journey.

  • – Enabling agents/brokers with digital tools.

  • Modernizing legacy platforms and IT infrastructure.

  • Investing in analytics solutions for effective risk assessment to improve product pricing.

  • Attracting enough young talent to build skills of the future and build domain understanding to replace an aging workforce.

“Above all, L&A insurers need to double down on user experience and efficiency, and that’s why adopting a modern platform-first operating model is crucial to the future success of the L&A insurer,” said Ronak Doshi, vice president at Everest Group. “Digital capability platforms support ecosystem interaction via microservices and APIs, enabling customized business processes, analytics solutions, and cross-selling and up-selling across multiple customer segments. L&A insurers can also reduce costs by carving out non-core operations in a Business-Processes-as-a-Service model. L&A insurers who explore these operating models now with an end-goal of becoming more agile, efficient and customer-centric will be best positioned to succeed in a post-COVID-19 world.”

These recommendations are discussed in more detail in Everest Group’s new report, “Life & Annuities (L&A) Insurance State of the Market 2020: Platform-first Model to Simplify and Rationalize Systems for Rapid Cost Take-out.“

In this report Everest Group offers a detailed analysis of the L&A insurance industry, analyzing the forces shaping the industry’s future, especially in the light of the COVID-19 pandemic. The report also highlights the implications for key insurance functions and recommends strategies for L&A insurers to thrive in the next normal.

***Visit Everest Group’s COVID-19 page for a Global Service Delivery tracker, recent reports, webinars, and more.***

Selected Highlights of L&A Insurance IT Outsourcing Market:

  • Insurance IT services spend grew at a compound annual growth rate (CAGR) of 2.4% from 2017-2019, reaching a total of US$115.8 billion. The Global Business Services (GBS) portion was $66.8 billion, and the outsourcing IT services portion was $49 billion.

  • The outsourcing IT services spend of $49 billion comprises $4.1 billion for the reinsurance segment, $24.2 billion for Property & Casualty insurance, and $20.7 billion for L&A insurance.

  • Geographically, North America accounted for the largest portion of the IT services spend at $28.4 billion, followed by the United Kingdom with $6.4 billion, and Rest of Europe at $7.9 billion. Asia Pacific (APAC) is the region projected to experience the fastest growth in the future.

***Download the complimentary report abstract.***

About Everest Group

Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global enterprises, service providers, and investors. Through our research-informed insights and deep experience, we guide clients in their journeys to achieve heightened operational and financial performance, accelerated value delivery, and high-impact business outcomes. Details and in-depth content are available at http://www.everestgrp.com/.

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Business: Insurance

PaymentVision partners with Simplicity Collection Software to deliver industry leading payment processing integration

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“With over 40 partnerships, strategic integrations with leading software providers, like Simplicity Collection Software, is key to delivering an innovative and seamless payment experience for our clients and their customer.” – Rob Pollin, President and CEO, Autoscribe Corporation.


JACKSONVILLE, Fla. (PRWEB)

Autoscribe Corporation, provider of PaymentVision gateway services, is a leading financial technology services company and payment processor, today announces its partnership with Simplicity Collection Software.

By partnering with Simplicity, PaymentVision is able to offer a seamless integration between their collection software and our payment processing APIs. Integration into core systems help collection firms create more efficient and streamline operations reducing costs, improving customer experience and increasing their ability to collect payments in an efficient and expedited manner.

“We are excited to continue to expand our strategic integration partnerships by including PaymentVision as an integrated payment processor. This provides our mutual customers with the best-in-class scenario to be successful in their collection efforts by streamlining the collection and payment experience for them and their customers.” – Jon Parker, CEO, Simplicity Collection Software

“With over 40 partnerships, strategic integrations with leading software providers, like Simplicity Collection Software, is key to delivering an innovative and seamless payment experience for our clients and their customer.” – Rob Pollin, President and CEO, Autoscribe Corporation.

Since Autoscribe was founded in 1989, we’ve grown to service thousands of customers and process over $2 billion in transactions annually. Among our growing roster of clients are a number of the largest U.S. financial Institutions, credit unions, insurance companies, credit bureaus, government agencies and municipalities, as well as non-financial entities large and small.

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Business: Insurance

Employer’s Risk Administrators Enhances Client Experience by Partnering with Enquiron

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“We are pleased to support Employer’s Risk Administrators’ clients and help meet their ever-growing needs,” said Mike Naclerio, President & CEO of Enquiron.


BOSTON (PRWEB)

Employer’s Risk Administrators, a PEO specializing in customized packages of group benefits, payroll, workers compensation, unemployment claims, and more, is now providing immediate human resource, ERISA health care and ERISA retirement support to their clients. Employer’s Risk Administrators has partnered with Enquiron® and launched the Employer’s Risk Administrators Employer Resource Center, designed to help their clients combat human resources, employment law, ERISA health care and retirement issues. Employer’s Risk Administrators has always been committed to providing their clients with relevant and timely solutions, and the launch of the Employer’s Risk Administrators Employer Resource Center is just another example of that.

All enrolled clients will be personally introduced to a variety of human resource, employment law, ERISA health care and retirement advice, content, tools and resources including training courses, personalized alerts, news and more. Clients will also have the ability to ask questions to employment law and ERISA attorneys.

“We feel this addition is an important part of what our clients hired us to do, which is to assist in the protection of the companies they are building,” said Sharon McReynolds, CEO of Employer’s Risk Administrators. “This is an extremely beneficial value added service to what we already offer.”

“We are pleased to support Employer’s Risk Administrators’ clients and help meet their ever-growing needs,” said Mike Naclerio, President & CEO of Enquiron. “The Employer’s Risk Administrators Employer Resource Center will help organizations address evolving human resource, employment law, and ERISA retirement and health care issues. We look forward to kicking off this exciting enhancement for Employer’s Risk Administrators’ clients.”

ABOUT EMPLOYER’S RISK ADMINISTRATORS:

Employer’s Risk Administrators provides efficiency in terms of operations and cost for workers’ compensation, unemployment, compliance, employee engagement, and data management. Through our intensive work with major clients, Employer’s Risk aims to bring valuable expertise to the small business owner. Our customized service helps to mitigates cost while improving employee retention, increasing our overall productivity, and reducing the risk of error. As a trusted advisor, we offer a wide range of quality benefits packages tailored to each of our individual clients. Employer’s Risk helps you find ways to manage health care costs and provide answers to employment compliance concerns, freeing up your staff to focus on what you got into business to do.

ABOUT ENQUIRON

Enquiron, http://www.enquiron.com, headquartered in Boston, Massachusetts, provides consultative business solutions to employers in all 50 states, across various industries, sectors and sizes. Since 1996, Enquiron has revolutionized the way that services impacting Human Resources, Employment Law, Healthcare, Retirement, Cyber Security and more are delivered to and utilized by employers. Enquiron has locations across the United States and is a trusted partner to organizations who need specific answers to specific questions. Follow us on LinkedIn and Twitter.

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Business: Insurance

NFP Welcomes Patrick Lundy to Lead Manufacturing and Commercial Real Estate Team in Canada

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“NFP continues to invest in people who have expertise and leadership that accelerate growth,” said McLean.


NEW YORK (PRWEB)

NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement and individual solutions, today announced that Patrick Lundy has joined the company’s team in Canada as senior vice president, manufacturing and real estate, effective June 22, 2020.

Lundy brings to NFP more than 24 years of insurance industry experience, including executive and business line leadership across risk advisory, underwriting, brokering, operations and distribution management. He has served as president and CEO of Zurich Canada (2012-2017), and in senior executive roles for AIG and Travelers. Most recently, he led a national industry practice at another brokerage and he currently serves as a board director for Assurant Life of Canada.

In his new role, Lundy will be responsible for developing in-depth practice areas for the manufacturing and real estate industries. He will work with the business development team on growth strategies and opportunities to introduce other financial services into the practice areas. Lundy will report to Mandeep Singh, managing director of business insurance, and will work closely with Daryn McLean, managing director business insurance, on growth initiatives. Lundy will also join the business insurance leadership team.

“We are pleased to welcome Patrick to our team,” McLean said. “NFP continues to invest in people who have expertise and leadership that accelerate growth. Our momentum is strong and adding someone with Patrick’s experience, relationships and market knowledge will be important to our efforts to achieve our goals in manufacturing and real estate.”

About NFP

NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,600 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 6th largest US-based privately owned broker, and 8th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).

Visit NFP.com to discover how NFP empowers clients to meet their goals.

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Business: Insurance

Amica Mutual Insurance Co. announces COVID-19 Auto Refund Program

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LINCOLN, R.I. (PRWEB)

Amica Insurance yesterday announced its COVID-19 Auto Refund Program, which will refund up to 10% of customers’ monthly auto premiums over a period of four months, pending regulatory approval. New customers that purchase Amica auto policies before the end of 2020 will also participate in the program.

“While we’ve seen an increase in auto losses as drivers have begun returning to the roads, losses for the year so far remain lower than we had planned,” said Amica Chairman, President and CEO Robert A. DiMuccio. “We anticipate that trend will continue, and we’re pleased to announce this additional round of support through the COVID-19 Auto Refund Program.”

For more information on the program, visit Amica’s COVID-19 Resource Center.

The COVID-19 Auto Refund Program follows the COVID-19 Auto Premium Relief Program that was announced in April. Under that program, Amica provided existing customers with a 20% refund on two months of auto premiums. In total, existing customers are receiving up to six months of support.

“I’d like to once again thank our customers for their loyalty in these unprecedented and ever-changing circumstances,” DiMuccio said. “As always, we’re here to serve you.”

About Amica Insurance

Amica is the longest-standing mutual insurer of automobiles in the U.S.

A direct writer, Amica also offers home, life, marine and umbrella insurance, as well as annuities.

Founded on the principles of outstanding service, Amica creates peace of mind and builds enduring relationships with its customers. That mission is shared and supported by thousands of employees across the country.

Amica.com

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Business: Insurance

AssuredPartners Acquires WTPhelan & Co. Insurance Agency, Inc.

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“Growth through these amazing partnerships is what makes AssuredPartners so unique. We would like to welcome the employees and clients of our new partner, WTPhelan & Co. Insurance Agency,” stated AssuredPartners President and COO Tom Riley.


LAKE MARY, Fla. (PRWEB)

AssuredPartners, Inc. is proud to announce WTPhelan & Co. Insurance Agency, Inc. of Cambridge, MA has joined AssuredPartners as the 20th acquisition of 2020. The team of 58 will remain under the operational leadership of Robert Ramsey. The agency currently reports $18 million in annualized revenues.

Richard Ramsey, President of WTPhelan stated, “Since 1898 WTPhelan has operated under our core values of integrity, innovation and improvement. As we move into this next chapter, we are looking forward to maintaining our disposition of hard work and dedication as a proud new partner of AssuredPartners.”

“Our goal at WTPhelan is to find clients the best coverage at a competitive price to meet their insurance needs. We are committed to making certain families and businesses are properly covered,” stated WTPhelan Vice President Robert Ramsey. “Joining AssuredPartners will allow us to continue to serve our clients in a collaborative environment with our new partner, AssuredPartners.”

David Ramsey, Vice President of WTPhelan stated, “For over 100 years, WTPhelan has been an industry leader in delivering technical expertise and superior customer service. We are committed to providing key resources to our staff to help them succeed. Joining AssuredPartners will allow us to continue providing our expertise along with the ability to grow our agency.”

AssuredPartners Regional President Tom Kozera stated, “The team at WTPhelan conveys true customer service and dedication to their community. We are pleased to have new members of WTPhelan join our growing team in the Northeast marketplace.”

“AssuredPartners culture and strategic growth is exciting for our Northeast Operations,” stated AssuredPartners President and COO Tom Riley. “Growth through these amazing partnerships is what makes AssuredPartners so unique. We would like to welcome the employees and clients of our new partner, WTPhelan & Co. Insurance Agency.”

For more information on WTPhelan & Co. Insurance Agency, Inc., please visit: http://www.wtphelan.com.

ABOUT ASSUREDPARTNERS, INC

Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners, Inc. acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety and MGU’s) across the United States and in England. From its founding in March of 2011, AssuredPartners has grown to over $1.5 billion in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with over 180 offices in 30 states and England. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dean.curtis@assuredpartners.com, or visit http://www.assuredpartners.com.

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Business: Insurance

Louis Law Group Expands Offerings to Help Orlando Residents with a Wide Array of Property Claims and Personal Injury Claims

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Our attorneys want our clients get the money they deserve,” says senior managing attorney Pierre A. Louis. “No claim is too small. Insurance companies should be on notice that our attorneys are working hard to ensure our clients are fully compensated.


ORLANDO, Fla. (PRWEB)

Louis Law Group, one of Florida’s most renowned property claims and personal injury law firms, announced that its team of knowledgeable and aggressive attorneys will be taking on clients from its new Orlando office by appointments. Whether an individual is a victim of property damage or has received an unacceptably low settlement offer from their insurer, Louis Law Group’s attorneys can help.

About Louis Law Group

Louis Law Group, with main office in Miramar, is laser-focused on helping policyholders obtain full and just compensation for property damages. The firm helps clients with a wide range of property damage claims, including water damage, fire damage, hurricane damage, theft damage, and more.

Louis Law Group attorneys help clients throughout the insurance claims process. Clients who have property insurance and pay premiums are often surprised when their insurance company denies their claims. The clients may not recognize that they are entitled to compensation for certain types of property damage.

In these situations, attorneys from Louis Law Group can help by reviewing the client’s insurance policy, gathering evidence to support the claim, communicating with the client’s insurance company, negotiating potential settlements with the insurer, and even going to trial if the client receives an unacceptably low settlement offer.

While these services are critical to obtaining full and just compensation, Louis Law Group attorneys also provide peace of mind. Clients can be confident that their claim is in good hands. Since Louis Law Group attorneys handle all the procedural elements of the claim, clients can focus on the more important things in their lives.

Louis Law Group

20 N Orange Ave, Suite 1100

Orlando, FL 32801

(407) 553-8009

https://louislawgroup.com/orlando-fl/property-claim-lawyer/

SOURCE Louis Law Group

Related Links

https://louislawgroup.com/about/

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Business: Insurance

The Institutes Announce Plan to Affiliate with the Insurance Information Institute

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“Together, we will be better empowered to serve those interested in risk management and insurance.”


MALVERN, Pa. (PRWEB)

The Institutes, the leading risk management and insurance knowledge provider, today announced plans for affiliating with the Insurance Information Institute (Triple-I). The Triple-I is a nonprofit communications organization serving as the trusted source of unique, data-driven insights on insurance. The Triple-I’s Board of Directors approved plans this month to enter into an affiliation with The Institutes, and The Institutes’ Board agreed to the affiliation yesterday. The deal will be finalized later this month.

“With 60 years of quality work serving as the trusted voice of objective insurance information, the Insurance Information Institute’s brand is invaluable to us. Combining their assets with ours will allow both organizations to turn the page on the next chapter of their operations and sets both of us up for continued long-term success,” said Peter Miller, CPCU, president and CEO of The Institutes. “Together, we will be better empowered to serve those interested in risk management and insurance.”

With more than 60 insurance company members — including regional, super-regional, national and global carriers — the Triple-I is the largest online source of insurance information dedicated to empowering consumers with objective fact-based research they can use to make educated decisions, manage risk, and understand the value of insurance.

“This forward-looking decision is the culmination of several years of strategic dialogue both internally at the Triple-I and with The Institutes. Taking this next step will further unify our collective efforts when it is needed most, grant both the Triple-I and The Institutes greater access to a deeper bench of resources and expertise, and improve value for Triple-I’s member companies across the country,” said Triple-I CEO Sean Kevelighan.

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About The Institutes | Risk and Insurance Knowledge Group

The Institutes, a leading provider of risk management and insurance knowledge solutions, offers innovative education, research, networking, and career resources, including professional designations such as the CPCU® program, leadership programs, continuing education courses, events and conferences, associations, custom solutions, publications, and assessment tools.

About Insurance Information Institute (Triple-I)

The Triple-I is a nonprofit communications organization supported by the insurance industry. With offices in New York City and Arlington, Va., the organization has been a trusted source of unique, data-driven insights on insurance for over 60 years.

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