P&C

VIP Software and Wardlaw Claims Services Boost Business Development with Enhanced Reporting Tools in New Partnership

Retrieved on: 
Jeudi, mai 2, 2024
P&C, Carrier, Ecosystem, Invision, SLA, Service, Rendo, Partnership, Insurance, Software as a service, Software, Automation, Benchmarking, Growth, Video game

James Makris, Founder and CEO of VIP Software, stated, "VIP Software has earned a notable reputation for productizing industry-leading SaaS applications that solve complex business challenges within an operation."

Key Points: 
  • James Makris, Founder and CEO of VIP Software, stated, "VIP Software has earned a notable reputation for productizing industry-leading SaaS applications that solve complex business challenges within an operation."
  • Nathan Rendo, VP of Claims Operations at Wardlaw Claims Services, remarked, "The widespread adoption of VIP Software by Carrier partners encouraged us to strengthen our partnership with VIP Software and further our adoption and capabilities of the platform."
  • The automation and performance metrics captured by Invision will be a powerful business development tool for performing service providers like Wardlaw Claims Services."
  • James Makris, President & CEO of VIP Software, concluded, "We are humbled by the partnership we have forged with Wardlaw Claims Services."

ACORD's insurance carrier M&A study found that only 52% of the last decade's largest transactions created long-term value

Retrieved on: 
Jeudi, mai 2, 2024
P&C, Attention, TSR, Motivation, Life, SVAR, Risk, Risk management

NEW YORK, May 2, 2024 /PRNewswire/ -- ACORD, the standards-setting body for the global insurance industry, today released the first-of-its-kind study Carrier Mergers & Acquisitions: Major Transaction Value Analysis. The study, which examined the largest M&A transactions over the last decade by insurers in Property & Casualty, Life, and Reinsurance, sought to answer key questions about motivations behind M&A activity, long-term value creation, and barriers and enablers in achieving success.

Key Points: 
  • The deals analyzed in-depth represented a total value of nearly $290 billion, accounting for more than one-third of the value of all carrier M&A transactions worldwide.
  • Among other factors, ACORD assessed the M&A transactions by deal size and shareholder value at risk (SVAR) to understand how these contributed to long-term outcomes.
  • Dividing the transactions into quartiles by deal size revealed a "Goldilocks principle" at work — in the long run, mid-sized deals performed better than the largest or smallest transactions studied.
  • Life insurers faced difficulties regardless of the rationale behind the deal, with just 36% of all life M&A transactions creating value.

LifeWallet Announces a Comprehensive Settlement with 10 Affiliated Property & Casualty Insurers, Doing Business in 15 States

Retrieved on: 
Vendredi, avril 19, 2024
P&C, Patient, Nature, Machine learning, Insurance, Natural language processing, Medicare, Providers, Pharmaceutical industry

CORAL GABLES, Fla., April 18, 2024 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet” or “the Company”) announces another comprehensive settlement with 10 affiliated property and casualty insurers (“P&C Insurers”) that write personal lines of P&C insurance in 15 states.

Key Points: 
  • CORAL GABLES, Fla., April 18, 2024 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet” or “the Company”) announces another comprehensive settlement with 10 affiliated property and casualty insurers (“P&C Insurers”) that write personal lines of P&C insurance in 15 states.
  • LifeWallet is currently in negotiations with multiple other property and casualty insurers to resolve claims on a similar basis.
  • The settlement announced today follows a comprehensive settlement announced by LifeWallet on Mar 3, 2024 with 28 affiliated P&C Insurers.
  • These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

Matic Insurance Launches Strategic Partnership With USA Mortgage

Retrieved on: 
Jeudi, avril 18, 2024
P&C, Entrepreneurship, Jewellery, Insurance, Partnership, Policy, Real estate

Columbus, Ohio, April 18, 2024 (GLOBE NEWSWIRE) -- Matic, a leading digital insurtech platform, and USA Mortgage have joined forces in a strategic partnership to provide property & casualty insurance products to USA Mortgage customers.

Key Points: 
  • Columbus, Ohio, April 18, 2024 (GLOBE NEWSWIRE) -- Matic, a leading digital insurtech platform, and USA Mortgage have joined forces in a strategic partnership to provide property & casualty insurance products to USA Mortgage customers.
  • Under the partnership, Matic’s innovative insurance marketplace will be integrated into the USA Mortgage home lending experience, allowing borrowers to shop for personalized rates and coverage as part of the mortgage process.
  • “This partnership represents a significant milestone in our commitment to provide impactful solutions that enhance the borrower experience,” said Ron Mueller, President of USA Mortgage.
  • “Matic was built for the mortgage industry to simplify the insurance shopping process during the home buying experience,” said Ben Madick, CEO and Co-Founder of Matic Insurance.

Digital Media Solutions, Inc. Announces Fourth Quarter And Full Year 2023 Financial Results

Retrieved on: 
Jeudi, avril 18, 2024
P&C, Sale, CFO, Education, Insurance, VMM, DMS, Property, E-commerce, Luigi, Adjustment, GAAP, Growth, Management

CLEARWATER, Fla., April 18, 2024 (GLOBE NEWSWIRE) -- Digital Media Solutions, Inc. (OTCMKTS: DMSL) (“DMS” or the “Company”), a leading provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers, today announced financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • CLEARWATER, Fla., April 18, 2024 (GLOBE NEWSWIRE) -- Digital Media Solutions, Inc. (OTCMKTS: DMSL) (“DMS” or the “Company”), a leading provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers, today announced financial results for the fourth quarter and full year ended December 31, 2023.
  • “Our Q4 results reflect improving conditions in the Property and Casualty vertical, which has faced macro headwinds for the past couple of years.
  • We are cautiously optimistic that P&C has hit an inflection point in its recovery, which would help drive growth for DMS in 2024.
  • 1 Variable Marketing Margin (VMM) and Adjusted EBITDA, as well as certain other measures in this release, are non-GAAP financial measures.

Duck Creek Hosts Annual One Duck Creek Summit to Build Connection, Belonging and Community

Retrieved on: 
Mercredi, avril 17, 2024
DEI, P&C, Summit, Engagement, Pack, Insurance, House, Human, Ronald McDonald House Charities, Culture, Environment, Management

Attendees are recognized for their roles in the many councils and programs that help Duck Creek create a culture of excellence in insurance and technology.

Key Points: 
  • Attendees are recognized for their roles in the many councils and programs that help Duck Creek create a culture of excellence in insurance and technology.
  • Duck Creek endeavors to foster a culture of belonging and respect, where every voice is heard and valued.
  • The One Duck Creek Summit is a great opportunity to celebrate our achievements, share best practices, and inspire each other to continue building a great culture.”
    The Summit kicks off with Mike Jackowski, Chief Executive Officer of Duck Creek Technologies.
  • "We are proud to recognize and celebrate the different backgrounds, ideas and experiences our employees bring to Duck Creek," said Courtney Townsend, Chief People Officer at Duck Creek Technologies.

CCC Intelligent Solutions Named Winner of 2024 Artificial Intelligence Excellence Award

Retrieved on: 
Mercredi, mai 1, 2024
Apps, Applications, Technology, Insurance, Automotive, General Automotive, Professional Services, Business, Data Analytics, Data Management, Artificial Intelligence, P&C, Business intelligence, Artificial intelligence, Life, CCC, Organization, Deep learning, Retail

CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, announces today that it has been recognized by Business Intelligence with a 2024 Artificial Intelligence Award for its innovative use of computer vision.

Key Points: 
  • CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, announces today that it has been recognized by Business Intelligence with a 2024 Artificial Intelligence Award for its innovative use of computer vision.
  • The business awards program sets out to recognize those organizations, products and people who bring artificial intelligence (AI) to life and apply it to solve real problems.
  • “CCC is honored to receive recognition for our pioneering work in AI, particularly in computer vision.
  • “We are truly honored to recognize CCC with this prestigious award,” stated Maria Jimenez, chief nominations officer for the Business Intelligence Group.

American Financial Group, Inc. Announces First Quarter Results

Retrieved on: 
Mercredi, mai 1, 2024
Other Professional Services, Professional Services, Insurance, Finance, P&C, Investment, CRS, AFG, Transport, National Association, Property, Acquisition, NAIC, Specialty, Calendar, Growth

First quarter 2024 results include 2.3 points related to catastrophe losses, compared to 2.2 points in the 2023 first quarter.

Key Points: 
  • First quarter 2024 results include 2.3 points related to catastrophe losses, compared to 2.2 points in the 2023 first quarter.
  • First quarter 2024 results benefited from 3.3 points of favorable prior year reserve development, compared to 4.5 points in the first quarter of 2023.
  • Underwriting profit was $154 million for the 2024 first quarter compared to $155 million in the first quarter of the prior period.
  • Earnings from alternative investments may vary from quarter to quarter based on the reported results of the underlying investments, and generally are reported on a quarter lag.

Guidewire Expands Insurtech Vanguards Pitch Days, Taking Event Global

Retrieved on: 
Mardi, avril 30, 2024
Data Management, Professional Services, Technology, Insurance, Software, Connections, P&C, Artificial intelligence, PwC, ICEYE, Data analysis, Online shopping

Guidewire (NYSE: GWRE) announced that it is taking its popular Insurtech Vanguards Pitch Day worldwide with pitch day events planned in Sydney, Australia on May 23, 2024 and Dublin, Ireland on June 13, 2024.

Key Points: 
  • Guidewire (NYSE: GWRE) announced that it is taking its popular Insurtech Vanguards Pitch Day worldwide with pitch day events planned in Sydney, Australia on May 23, 2024 and Dublin, Ireland on June 13, 2024.
  • In addition, Guidewire’s flagship Insurtech Vanguards Pitch Day will also be taking place during ITC Vegas in October 2024 for the third consecutive year.
  • Each of the 2024 Insurtech Vanguards Pitch Days, sponsored by Guidewire PartnerConnect Consulting partner PwC , will feature five members of Guidewire’s Insurtech Vanguards program, whose short video submissions receive the most votes online from the industry, Guidewire, and PwC prior to the event.
  • For more information on the Sydney Pitch Day event, please visit: https://insurtechvanguardspitchday.com/sydney/
    For more information on the Dublin Pitch Day event, please visit: https://insurtechvanguardspitchday.com/dublin/

CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2024 Financial Results

Retrieved on: 
Mardi, avril 30, 2024
Professional Services, IOT (Internet of Things), Technology, Insurance, Software, Networks, Internet, Cloud, P&C, Sale, Total, AI, Life, CCC, Subrogation, GAAP, Cryptocurrency

CCC Intelligent Solutions Holdings Inc. (“CCC” or the “Company”) (NASDAQ: CCCS), a leading cloud platform for the P&C insurance economy, today announced its financial results for the three months ended March 31, 2024.

Key Points: 
  • CCC Intelligent Solutions Holdings Inc. (“CCC” or the “Company”) (NASDAQ: CCCS), a leading cloud platform for the P&C insurance economy, today announced its financial results for the three months ended March 31, 2024.
  • “CCC delivered strong first quarter results, highlighted by 11% year-over-year revenue growth and 41% adjusted EBITDA margin –both above our guidance ranges.
  • GAAP operating income was $7.8 million for the first quarter of 2024, compared with GAAP operating income of $13.3 million for the first quarter of 2023.
  • Adjusted operating income was $84.1 million for the first quarter of 2024, compared with adjusted operating income of $70.3 million for the first quarter of 2023.