Category Archives: Business

Press Releases from the Business World. Announcements, Product releases, Appointments.

Greenberg Traurig’s Julie McPeak Selected as 2019 IAIS Distinguished Fellow


“We are pleased that Julie has been recognized for her years of hard work and leadership at the IAIS and NAIC,” said Fred E. Karlinsky, co-chair of Greenberg Traurig’s Insurance Regulatory & Transactions Practice.

Shareholder Julie Mix McPeak of global law firm Greenberg Traurig, LLP was honored as a 2019 International Association of Insurance Supervisors (IAIS) Distinguished Fellow at the IAIS 26th Annual Conference in Abu Dhabi, Nov. 14. According to IAIS, this award recognizes McPeak for her time, deep experience, and dedication to advancing the IAIS and effective and globally consistent supervision of the insurance industry.

IAIS Distinguished Fellows are nominated and selected by insurance supervisors from around the world. McPeak has been an IAIS executive committee member for the past three years and was elected to serve as vice chair of the executive committee in 2016. She also served as president of the National Association of Insurance Commissioners (NAIC) in 2018 and chair of its International Insurance Relations Committee among other executive committees and leadership roles.

McPeak is a former commissioner of the Tennessee Department of Commerce and Insurance and a member of Greenberg Traurig’s Insurance Regulatory & Transactions Practice. McPeak has more than 25 years of legal and administrative experience in state government and was the first woman to serve as chief insurance regulator in more than one state, having also served as the executive director of the Kentucky Office of Insurance.

“We are pleased that Julie has been recognized for her years of hard work and leadership at the IAIS and NAIC,” said Fred E. Karlinsky, co-chair of Greenberg Traurig’s Insurance Regulatory & Transactions Practice. “Julie has been at the forefront of the discussion of international insurance issues and, here at GT, we have benefitted tremendously from her experience and passion for advancing the interests of the insurance industry.”

The IAIS is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, representing 97% of the world’s insurance premiums. The organization develops and assists in implementing principles, standards, and other supporting material for the supervision of the insurance sector.

About Greenberg Traurig’s Insurance Regulatory & Transactions Practice: Greenberg Traurig’s Insurance Regulatory & Transactions group brings together lawyers from its national and international offices with experience in a broad variety of complementary disciplines – including insurance regulatory, tax, corporate finance and securities, securitization and structured finance, litigation, health care, and governmental affairs – to support clients from all segments of the insurance industry. The group provides tailored legal services designed to meet the varied needs of our clients in the areas of insurance regulation, legislative and public policy advocacy, life and health insurance, property and casualty insurance, premium finance, securitization and derivatives, and insurance litigation. BTI Consulting Group’s 2017 BTI Power Rankings list included Greenberg Traurig on their Honor Roll list for Insurance. In 2016 our team was listed as one of the “Strongest Firms for Go-To Outside Counsel – Insurance” in BTI Consulting Group’s BTI Report. Our team was also included in BTI Consulting Group’s BTI Power Rankings as one of “The Top 16 Firms GCs Love for Insurance Work” in 2016.

About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has approximately 2,100 attorneys in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law.

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Burke A. Christensen Joins Steptoe & Johnson Insurance Litigation Team


Burke A. Christensen has joined the insurance litigation team of Steptoe & Johnson PLLC. He practices in the firm’s Lexington office and maintains a professorship in risk management and insurance at Eastern Kentucky University.

“Burke’s unique experience as an attorney, educator, and expert witness adds depth to our growing litigation practice in Kentucky,” said Steptoe & Johnson CEO Susan S. Brewer. “His knowledge of the legal and business sides of the insurance industry will be invaluable to our team and the insurance providers we represent. We are thrilled to welcome him to the firm.”

Christensen has been involved with EKU since 2006 helping to educate generations of up and coming insurance professionals. He has taught undergraduate and master’s level courses in business risk management, insurance agency operations, alternative dispute resolution, estate planning, and many others. He led the university’s risk management and insurance program from 2014 until 2018 in addition to his professorship and was the Robert B. Morgan Chair of Insurance. In May of this year, Christensen received the EKU Colonel’s Choice Award as the Faculty Member of the Year.

Prior to entering the higher education field, he was the chief operating officer and general counsel for Concert Health Plan Insurance Company in Oak Brook, Illinois. He is the past vice president of operations and in-house counsel for web-based insurance brokerage agency Quotesmith.com, now Insure.com, where he led business operations and agent market conduct compliance. Christensen has also worked in private legal practice in some of the nation’s largest metropolitan areas. As general counsel for the Society for Financial Services Professionals, Christensen testified on insurance industry issues before state and federal legislative bodies, including the U.S. Senate.

Christensen has served as a consultant and expert witness for more than 15 years in hundreds of lawsuits in state and federal courts. He is a sought-after speaker and writer on an array of insurance issues and has addressed audiences in the U.S. and the United Kingdom. He earned his law degree from the University of Utah College of Law and his bachelor’s degree from Utah State University.    

About Steptoe & Johnson

Steptoe & Johnson PLLC is a law firm nationally recognized for its strengths in energy law with more than a century of know-how in the areas of business, employment, and litigation. Steptoe & Johnson has 300 attorneys practicing in 14 offices in Colorado, Kentucky, Ohio, Pennsylvania, Texas, and West Virginia. Visit http://www.steptoe-johnson.com and connect with us on Twitter and LinkedIn.

For more information, contact Betsy Spellman, Chief Marketing Officer, at (304) 933-8000 or by email: press@steptoe-johnson.com.

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Guardian Analytics® and BioCatch to Host an Executive Webinar on Practical Use Cases of Behavioral Biometrics in Banking on December 4th


Guardian Analytics, the market leader in real-time behavioral analytics and machine learning solutions for banking payment fraud detection, anti-money laundering, and enterprise B2B portal fraud, today announced an upcoming executive webinar with BioCatch, the leader in behavioral biometrics, on how behavioral biometrics are used by leading institutions today to detect fraud across the digital identity lifecycle.

Experts from BioCatch and Guardian Analytics will explore best practices on incorporating AI- Driven Behavioral Biometrics for various use cases such as identity proofing, continuous authentication and detecting sophisticated social engineering scams. BioCatch behavioral biometrics specifically analyzes more than 2,000 parameters of users’ physical and cognitive behavioral interactions online and returns a risk score in real-time that helps financial institutions determine whether to stop or allow a transaction.

The combination of behavioral biometrics and digital banking machine learning and behavioral analytics opens up an era where financial institutions can implement friction-right risk-based authentication and provide active defense against all types of digital threats from account take over to synthetic identity detection.

“The deep integration between BioCatch and Guardian Analytics creates a new category of Machine Learning Driven Behavioral Biometrics fraud detection products that enable friction-right risk-based authentication in Digital Banking,” said Eric Tran-Le, Vice President of Product Management at Guardian Analytics

“By leveraging Behavioral Biometrics, we expand far beyond profiling just user activity, device and location, adding a layer of protection and confidence to our customer’s decisions based on the unique behavioral and cognitive characteristics seen when a user interacts with a device or website,” said Ayelet Biger-Levin, Vice President of Product Marketing at BioCatch. “The resulting intelligence reduces friction by more accurately recognizing genuine users and improves fraud detection of both human and non-human attacks.”

Webinar attendess will learn how behavioral biometrics detect suspicious user identity on mobile devices, enable friction-right risk-based authentication experience, and complement other technologies to score the likelihood of payment fraud.

To reserve your spot for the live webinar, please see details below:

Live Webinar: Practical Use Cases of Behavioral Biometrics in Banking

Speakers: Eric Tran-Le, VP of Product Management, Sayalee Pawar, Product Manager of Data Analytics at Guardian Analytics and Ayelet Biger-Levin, VP of Product Marketing at BioCatch

Date: Wednesday, December 4th

Time: 11am PST

Register: Click here

About Guardian Analytics®

Guardian Analytics is the pioneer and leading provider of behavioral analytics and machine learning solutions for preventing banking fraud and anti-money laundering. Hundreds of financial institutions have standardized on Guardian Analytics’ innovative solutions to mitigate fraud risk and rely on the company to stop the sophisticated criminal attacks targeting retail and commercial banking clients. With Guardian Analytics, financial institutions build trust, increase competitiveness, improve their customer experience and scale operations. Guardian Analytics is privately held and based in Mountain View, CA. For more information, please visit http://www.GuardianAnalytics.com.

Guardian Analytics is a registered trademark of Guardian Analytics, Inc.

About BioCatch

BioCatch is a digital identity company that delivers AI-driven behavioral biometrics, analyzing human-device interactions to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and better manage online identity verification, without compromising the user experience. With an unparalleled patent portfolio and deployments at leading financial institutions and global enterprises around the world that cover more than 90 million users, BioCatch has established itself as the industry leader. For more information, please visit http://www.biocatch.com.

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Online Car Insurance Quotes Will Help Car Owners Find Better Car Insurance Rates


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“Online car insurance quotes can help drivers find better insurance deals. All they have to do is to fill in the form and start comparing offers”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Compare-autoinsurance.org has launched a new blog post that explains how online car insurance quotes can help policyholders find better car insurance deals.

For more info and free car insurance quotes online, visit https://compare-autoinsurance.org/online-auto-insurance-quotes-will-help-you-find-an-advantageous-policy/

Every driver wants to obtain the best car insurance possible by paying as little as possible. The best way to find the best auto insurance possible is by using online car insurance quotes. Policyholders can sit in the comfort of their homes and obtain multiple online insurance quotes to compare.

Online quotes offer the following benefits for drivers that search for advantageous policies:


  • Brokerage websites offer multiple choices. When a policyholder chooses to fil a form on a brokerage website, he will receive multiple offers from multiple insurance companies that are licensed to sell policies in that area. Drivers will save time and will be less stressed knowing they have multiple insurance choices and not just a few.
  • Online quotes can help drivers preview the final price of their policy. Policyholders will have a better view on how much they will pay on insurance, how much they can save with the discounts they are eligible, and they can plan ahead a budget if they want to take advantage of the paid in full discount.
  • Online tools can be customized. Drivers can easily change the coverage parameters before obtaining quotes. They can change the levels of deductibles or what options and additional coverages they want. By doing so, they can find coverage that suits them.
  • Online quotes are free. Besides that, many insurers offer discounts for those policyholders that obtained insurance estimates from them.
  • Comparing online quotes is the best way to find affordable coverage. Drivers only need several insurance quotes to compare. Policyholders should remember to compare quotes that have the same coverage 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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Nan Fung Life Sciences Real Estate Establishes Boston Office


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Our intimate understanding of both life sciences and real estate is our core advantage

Nan Fung Life Sciences Real Estate (NFLSRE) announced the opening of its first U.S. office and the appointment of Matthew Powers as Chief Executive Officer. Nan Fung Life Sciences Real Estate aims to acquire, develop and manage life sciences related properties in innovation-driven markets across the United States. Powers is establishing NFLSRE’s flagship office in Boston, Massachusetts for its economic and geographic status as a worldwide life sciences hub.

NFLSRE is a subsidiary of Nan Fung Group, a privately held Hong Kong based global conglomerate with core businesses in real estate development and investment. The Group’s real estate business is vertically integrated with investment, development and operating capabilities in Hong Kong, China, the United Kingdom and the United States. The Group also holds a well-diversified financial investment portfolio and has made significant investments in the life science sector globally through Nan Fung Life Sciences.

“We see this as an important next step in expanding Nan Fung’s footprint in Life Sciences,” said Vincent Cheung, Chairman of Nan Fung Life Sciences and COO of Nan Fung Group. “Nan Fung recognizes the unique real estate needs of the life sciences sector and this announcement highlights our commitment to providing best-in-class solutions to life sciences tenants.”

Nan Fung Life Sciences has $1.5 billion capital commitment from Nan Fung Group to invest into life sciences and has invested in 46 portfolio companies to date.

“Our intimate understanding of both life sciences and real estate is our core advantage as we develop solutions which accommodate the future needs and opportunities of our clients. Our goal is to have NFLSRE employ the same thoughtful, high quality and methodical approach for which Nan Fung Group is known for around the globe,” said Matthew Powers, CEO of Nan Fung Life Sciences Real Estate. “Having spent my entire career as a real estate professional in the life sciences industry, I am committed to having a team that will have a unique understanding of the unmet real estate needs of life sciences organizations. The Nan Fung global network of business platforms offers unrivaled solutions to our clients across their entire business lifecycle.”

Greater Boston, with its prestigious research universities, elite hospitals, and globally competitive workforce, is the headquarters or operational center for hundreds of life sciences companies. From incubators and drug discovery and device startups to major company campuses, the need for innovative, scalable space is a top strategic priority. This ever-changing environment is a major reason why NFLSRE selected Boston for its headquarters.

Matthew Powers brings over 20 years of experience working for large biotechnology and pharmaceutical companies in strategy, supply, operations and real estate positions. Prior to being named CEO of NFLSRE, he was Executive Vice President for JLL where he led the company’s New England Life Sciences practice.

Previously, Powers was Head of Real Estate and Infrastructure Operations as well as Strategy Program Manager for Merck Millipore’s Biosciences Division. There he was responsible for a portfolio of six million square feet across 41 locations. In 2006, he founded Chimera Management, a real estate solutions service provider to biotech and life sciences organizations. Earlier he worked for venerated biotech pillars Genzyme and Genetics Institute, the latter being acquired by the pharmaceutical giant Wyeth during his tenure.

The Boston office of Nan Fung Life Sciences Real Estate is located at: 1 Lincoln Street, 24th Floor, Boston, MA 02111. T+1 857 998 8800.

About Nan Fung Life Sciences Real Estate

Nan Fung Life Sciences Real Estate (“NFLSRE”), a subsidiary of Nan Fung Group, is an innovative, premier real estate investment and operating company based in Boston MA. NFLSRE is led by a world class management team with over 75 years of combined life sciences real estate development and operations experience. For more information please visit https://www.nanfunglsre.com/.

About Nan Fung Life Sciences

Nan Fung Life Sciences, part of Nan Fung Group, is a global investment platform focusing on life sciences. Leveraging on Nan Fung Group’s strong capital base and long-term commitment to the area, the company is aimed to become the ideal partner for scientists, entrepreneurs, corporations and investors in the life science space. Through direct investments via Pivotal BioVenture Partners funds (both in the US and China) and fund investments covering full spectrum of the industry (including therapeutics, medical devices and diagnostics) and across different development stages, Nan Fung Life Sciences has significant presence in both the US and Greater China.

About Nan Fung Group

Founded in 1954, Nan Fung Group is a Hong Kong-based property developer and investor with net assets around $13 billion. To date, Nan Fung Group’s track record spans over 165 projects comprising over 66 million square feet. Outside of Hong Kong, Nan Fung Group’s property portfolio also covers various first tier cities in China; as well as London and New York. Nan Fung Group also holds a well-diversified, substantial financial investment portfolio consisting of stocks, bonds, debt, funds, private equity and venture capital investments.

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Does Car Insurance Cover Damage Caused By Earthquakes


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“Comprehensive car insurance is the only policy that will cover your car against damage caused by earthquakes”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Compare-autoinsurance.org has launched a new blog post that explains if car insurance covers damage caused by earthquakes

For more info and free car insurance quotes online, visit https://compare-autoinsurance.org/car-insurance-and-earthquakes-is-your-car-covered-against-earthquake-damage/.

When serious earthquakes occur, however, they can cause enormous damage to public property – including vehicles. It is normal for owners to worry and ask themselves if their vehicles are protected and if they will be reimbursed. if such an unfortunate event occurs.

The answer is “Yes, earthquake damage is covered by car insurance.” But not by basic coverage. If you have a basic liability plan, then it’s unlikely your car is covered for earthquake damage or any other type of environmental damage. If your car has comprehensive coverage, then you will be covered for earthquake damage. Comprehensive coverage protects your car against a wide variety of unexpected circumstances, including hail damage, storm damage, windstorm damage, earthquakes, and more.

Comprehensive auto insurance is an optional coverage that pays to repair or replace your vehicle in cases of car theft or if it’s damaged in incidents not covered by the collision insurance. Although this coverage is optional, if you are financing or leasing your vehicle, your lender will probably insist to get this coverage, in order to protect their investment once it leaves the showroom. On our website, you can fill a free online car insurance quote and find the best car insurance deal on comprehensive coverage.

Comprehensive insurance can be expensive, but its benefits are extremely valuable:


  • Comprehensive coverage will help drivers replace a stolen car. If you realize that you will not have sufficient money to replace your stolen vehicle, then comprehensive insurance might be a good policy to purchase. This policy will not compensate you the value of your car as it was new but will pay you the value of your car at the moment it was stolen. The term used by companies is Actual Cash Value – ACV.
  • This policy covers weather damage. Damage done by weather events such as hail, tornados, lightings, can leave serious marks on the body of a vehicle and in some cases, the car can be considered totaled. Comprehensive coverage pays for the repair or replacement of the vehicle damaged by weather-related events.
  • The policyholder is covered in case of an animal collision. While the collision coverage pays in cases where a vehicle hits another vehicle or inanimate object, comprehensive coverage compensates the damage done while hitting an animal.
  • The policyholder is covered in case of flood damage. Water can get inside a vehicle and destroy its interior and its mechanical components. This policy will pay for replacement parts or even compensate the value of the whole car if the damage is too severe and the car is considered totaled.
  • The policyholder is covered for many other scenarios not related to a car accident. Comprehensive coverage will reimburse the policyholder if the car is damaged by falling debris and objects, fires, earthquakes or during riots and acts of vandalism

For more info and free car insurance quotes online, visit http://compare-autoinsurance.org.

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Philip Wolf Joins the Board of Directors of smarTours


smarTours

smarTours, a leading provider of value-oriented travel experiences to exotic global destinations, is pleased to announce that Philip Wolf has joined the Company’s Board of Directors. Summit Park, a private investment firm, led a recapitalization of smarTours in October 2017, and the additions to the Board of Directors and the management team are consistent with Summit Park’s strategy of investing in the leadership of the Company to position smarTours for growth and continued success.

Mr. Wolf joins smarTours with over 30 years of experience in the travel industry. In 1994, Mr. Wolf founded Phocuswright, Inc., an authority in travel industry research and conferences, where he served as CEO until the sale of the company in 2011 to Northstar Travel Media. In addition to the successful sale of Phocuswright, Mr. Wolf was involved in the sale of Newtrade to Expedia in 2002 and the sale of TravelJigsaw (now rentalcars.com) to Priceline in 2010 and its merger with Ibibo Group in 2017. Mr. Wolf serves as a board director on three continents, including eDreams ODIGEO in Spain and MakeMyTrip in India, as well as Hopper (U.S.), TrustYou (Germany), and Blacklane (Germany). He is also chairman of travel consultancy Hudson Crossing (U.S.), as well as a board advisor to dnata (UAE), DataArt (U.S./U.K), RedDoorz (Indonesia), and ITB China. Mr. Wolf formerly served as an adjunct professor at NYU’s Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management and as a distinguished lecturer at the Cornell University School of Hotel Administration. Before founding Phocuswright, Mr. Wolf was President and CEO of a venture-funded software developer and travel booking engine pioneer. Mr. Wolf holds an MBA from Vanderbilt University’s Owen Graduate School of Management and a BA from Duke University.

“We are very excited to have Philip join the smarTours Board of Directors to support our collective vision for the future of the Company,” said Christine Petersen, President and Chief Executive Officer. “Philip has deep experience and relationships throughout the travel industry, and we expect that, as a result, he will make significant contributions to the Company’s growth strategy going forward.” Additionally, smarTours added Elyse Lindsey as Vice President of Marketing and Kendra Guild as Head of Product in the second and third quarters of 2019.

About smarTours

smarTours is a leading provider of direct-to-consumer, value-oriented travel experiences to exotic global destinations. The Company currently offers all-inclusive, curated tours to over 50 destinations, and over 225,000 passengers have traveled with smarTours since the founding in 1996. smarTours offers both packaged tours with set departure dates for individual travelers as well as customized private tours for 20+ person passenger groups. For more information, visit http://www.smartours.com.

About Summit Park

Summit Park is a Charlotte, North Carolina-based private investment firm focused on investments in businesses with between $20 – $200 million in revenue in the Eastern half of the United States. The firm invests across a range of industries, including business and consumer services, light manufacturing and value-added distribution. Capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information, visit http://www.summitparkllc.com/.

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Financial Services Association Adds New Member Benefit


We recognize the impressive functionality of MyRepChat and encourage members to investigate its potential for workload reduction…IARFC Strategic Alliance Team Member, Randy Kriner.

Ionlake is a leader in customer management software. They boast 40 years of developing software, 15 years of professional experience in the Financial Services Industry, and over 1 million lines of written code. MyRepChat is their solution to compliant SMS texting where consultants can message their clients without having to worry about compliance laws and the security of their information.

MyRepChat was created by an advisor who through no fault of his own received text messages from his clients. After repeatedly telling the client it was not an approved way to communicate and he could not responds or interact through a text, MyRepChat was thus created to be a communication platform, not just a compliance approved texting tool. The features and integrations built in are proof that there was an advisor involved in the development.

MyRepChat specifically includes:

  • Text and Group Messaging: Birthdays, anniversaries, events, appointments and more. Clients will never have to download an app or software to communicate with the consultant.
  • Compliance Features: Communication is directly with the consultant’s compliance department ensuring that messages are properly monitored and retained.
  • Scheduling Function: Ability to plan and schedule messages in the future and create recurring messages to celebrate important dates.
  • Digital Assistant: Scheduled, automated and efficient client communication leaving the consultant for more time to do what they do best.
  • Contact Import: Easy import of contacts from CRM or mobile phone to being texted immediately. Conversations will be instantly archived in the CRM.
  • Auto-Forward: If a landline number is non-existent, MyRepChat can create a text number and auto-forward all calls to a number of choice,

“The IARFC is constantly looking for member benefits to enhance its offerings to the members,” remarked Randy Kriner, Strategic Alliance Committee Team Member. “We recognize the impressive functionality of MyRepChat and encourage members to investigate its potential for workload reduction.”

To have access to this new benefit and all the others the Association offers, go to http://www.iarfc.org for more information on the qualifications for membership.

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COO & Co-Founder Nick Reis of Agent Elite, Inc. Has Been Accepted Into Forbes Real Estate Council


I’m super excited to be apart of an exclusive and collaborative team and look forward to partnering with Forbes Real Estate Counsel.

Forbes Real Estate Council is an invitation-only community for executives in real estate.

Nick Reis, COO of Agent Elite, Inc. has been accepted into Forbes Real Estate Council, an invitation-only community for executives in the real estate industry.

Nick Reis was vetted and selected by a review committee based on the depth and diversity of his experience. Criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honors.

“We are honored to welcome Nick Reis and Agent Elite, Inc into the community,” said Scott Gerber, founder of Forbes Councils, the collective that includes Forbes Real Estate Business Council. “Our mission with Forbes Councils is to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world.”

As an accepted member of the Council, Nick has access to a variety of exclusive opportunities designed to help him reach peak professional influence. He will connect and collaborate with other respected local leaders in a private forum. Nick will also be invited to work with a professional editorial team to share his expert insights in original business articles on Forbes.com, and to contribute to published Q&A panels alongside other experts.

Finally, Nick Reis will benefit from exclusive access to vetted business service partners, membership-branded marketing collateral, and the high-touch support of the Forbes Councils member concierge team.

Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

For more information about Forbes Real Estate Business Council, visit forbesrealestatecouncil.com. To learn more about Forbes Councils, visit forbescouncils.com.

Nick Reis

COO | Co-Founder

858-349-6751

nreis@agentelite.com

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ClaimVantage Releases Results from FMLA and PFL Knowledge Gap Survey


ClaimVantage releases “The FMLA and PFL Knowledge Gap: Employee and Manager Insights” report

ClaimVantage releases “The FMLA and PFL Knowledge Gap: Employee and Manager Insights” report for 2019

“We’re delighted to share the results of our research project, which uncovered interesting findings that highlight the importance of benefits education, for both employees and managers. The Knowledge Gap was much more pronounced than we expected!” says Leo Corcoran, ClaimVantage CEO

ClaimVantage, an international provider of life, disability and absence management software solutions, has today released a report “The FMLA and PFL Knowledge Gap: Employee & Front-line Manager Insights,” identifying a significant Knowledge Gap in the levels of understanding of Family Medical Leave Act (FMLA) and Paid Family Leave (PFL), among employees and managers.

Research studies across the absence management industry focus on the impacts of regulatory compliance, absence administration, and tracking from the perspectives of employer organizations and absence management administrators. Having identified a gap in the research, ClaimVantage set out to gain a 360 view of leave programs. Taking a unique approach, this proprietary research explores the levels of understanding of FMLA, PFL and absence reporting methods, among employees and front-line managers tasked with employee absence management.

The research uncovered a significant PFL Knowledge GapTM among front-line managers, suggesting that those tasked with employee absence management struggle to fully understand the state-mandated regulations required for regulatory compliance. The research also found that employees were more knowledgeable about PFL regulations when compared to managers.

The FMLA Knowledge GapTM among both employees and managers was over 45%, meaning more than 45% of participants answered one or both survey questions incorrectly. This finding raises compliance concerns for employers, who are required to offer FMLA, who use front-line managers to manage employee absence. Considering FMLA has been around since 1993, we would have expected that the Knowledge Gap would be lower. However, this survey suggests that employers need to ensure those administering employee absences are educated on the applicable rules and regulations.

Survey participants included 1200 managers and employees from US companies with at least 100 employees. Only managers with direct reports who were responsible for managing employee absences were included.

Following the success of a recent webinar, “Understanding Absence – What Your Employees Think They Know,” as part of the DMEC Tools & Tactics series, ClaimVantage is sharing this report to offer insights to employers, TPAs, and insurance carriers responsible for employee absence management. The report entitled “The FMLA and PFL Knowledge Gap: Employee and Manager Insights” is available for download on the ClaimVantage website.

About ClaimVantage

ClaimVantage offers industry-leading life, health, and absence claim management software solutions for insurance carriers, Third-Party Administrators (TPAs), and large employers. ClaimVantage provides cloud-based, automated claims processing solutions that drive efficiency, accuracy, and productivity, helping its customers to deliver superior customer service.

With its North American headquarters in Portland, Maine, and European headquarters in Dublin, Ireland, ClaimVantage also has teams in EMEA and APAC.

For more information about ClaimVantage, visit http://www.claimvantage.com.

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