Farmers Insurance Group

Inszone Insurance Services Welcomes Matt Rieck as New Chief Human Resources Officer

Retrieved on: 
Wednesday, July 12, 2023
Professional Services, Insurance, Human Resources, Insurance industry in China, Culture, Chapman University, CHRO, Organization development, MBA, Insurance Services of America, Farmers Insurance Group, Acquisition, Webster University, Organization, Knowledge, Management

Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, today announced the appointment of Matt Rieck as Chief Human Resources Officer.

Key Points: 
  • Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, today announced the appointment of Matt Rieck as Chief Human Resources Officer.
  • With over 20 years of professional experience in human resources, Matt brings a wealth of knowledge and expertise to Inszone Insurance.
  • Prior to joining Inszone Insurance, Matt held several leadership positions at renowned companies, including Farmers Insurance, NASA-G4S, and BBSI.
  • "We are thrilled to welcome Matt to the Inszone Insurance team," said Chris Walters, CEO at Inszone Insurance.

Achieve wins Tempe Chamber of Commerce's inaugural Diversity Impact Award

Retrieved on: 
Wednesday, July 12, 2023
Linda, Workforce, ERG, Insurance, African, Tempe, AZ, Farmers Insurance Group, AZ Business Magazine, SAN, Built environment, City, Leadership Conference on Civil and Human Rights, American City Business Journals, Conference, Commerce, Farmer, Nursing, Management

SAN MATEO, Calif., July 12, 2023 /PRNewswire/ -- Achieve, the leader in digital personal finance, received the Tempe Chamber of Commerce's inaugural Diversity Impact Award. The award celebrates "exemplary leadership in advancing diversity, equity and inclusion within the company with clear, positive impacts in areas as a result of these efforts," and was presented on June 30 at the Tempe Chamber's 2023 Diversity in Leadership Conference. Other finalists for the award included Deloitte, Farmers Insurance and Kubra.

Key Points: 
  • Achieve is recognized for advancing diversity, equity and inclusion
    SAN MATEO, Calif., July 12, 2023 /PRNewswire/ -- Achieve , the leader in digital personal finance, received the Tempe Chamber of Commerce's inaugural Diversity Impact Award.
  • The award celebrates "exemplary leadership in advancing diversity, equity and inclusion within the company with clear, positive impacts in areas as a result of these efforts," and was presented on June 30 at the Tempe Chamber's 2023 Diversity in Leadership Conference.
  • Achieve has made a significant commitment to create a diverse workforce where all teammates are seen, heard and empowered.
  • ‌Its six employee resource groups (ERG) support Achieve teammates from the African American/Black; Military Veterans; LGBTQ+; Hispanic/Latinx; Asian American/Pacific Islander; and Women's Leadership communities.

AM Best Affirms Credit Ratings of Members of Farmers Insurance Group

Retrieved on: 
Friday, June 23, 2023
Professional Services, Insurance, Finance, Good, AM Best, Risk management, Credit, Zurich Insurance Group, DE, Farmers Insurance Group, FSR, Long-term care insurance, Farmer

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of Farmers Insurance Group (Farmers).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of Farmers Insurance Group (Farmers).
  • At the same time, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) of “bbb+” (Good) on the outstanding surplus notes of Farmers Insurance Exchange (Woodland Hills, CA) and Farmers Exchange Capital (Wilmington, DE).
  • The ratings also reflect Farmers’ strategic importance to Zurich Insurance Group Ltd (Zurich) (Switzerland).
  • Although Zurich has no ownership interest in the members of Farmers, the entities are strategically linked via an attorney-in-fact relationship between the members of the group and Farmers Group, Inc., Zurich’s wholly owned subsidiary.

Insurance Industry Veteran named President of Exdion’s Insurance Operations

Retrieved on: 
Tuesday, June 13, 2023
Professional Services, Data Management, Technology, Data Analytics, Insurance, Software, Salar, Policy, Data collection, Multimedia, AIG, Farmers Insurance Group, Growth, Centre for Study of Insurance Operations, State Farm, Farmer, Financial services, Financial adviser

Exdion Solutions, a leading developer of commercial insurance policy management and data analytics software, announced that S. Steven Salar has been named the President and Head of Insurance Operations.

Key Points: 
  • Exdion Solutions, a leading developer of commercial insurance policy management and data analytics software, announced that S. Steven Salar has been named the President and Head of Insurance Operations.
  • View the full release here: https://www.businesswire.com/news/home/20230613477142/en/
    S. Steven Salar, President and Head of Insurance Operations, Exdion Solutions (Photo: Business Wire)
    L.S.
  • Ram, Founder and CEO of Exdion, said, “I’m excited that Steven has joined our exceptional management team in our insurance operations.
  • He has worked with personal lines carriers State Farm, Farmers Insurance, and the Countrywide Insurance Group.

International Industry Leaders Convene at Global Insurance Symposium

Retrieved on: 
Friday, June 2, 2023
Commissioner, Learning, FIG, Greater, General counsel, Education, Aegon N.V., ACLI, BlackRock, American Council, American Council of Life Insurers, NAIC, New York Life Insurance Company, Farmers Insurance Group, Partner, W. R. Berkley, Fintech, Farmer, Management, EIOPA, Transamerica, Insurance

DES MOINES, Iowa, June 02, 2023 (GLOBE NEWSWIRE) -- The 2023 Global Insurance Symposium brought together industry and regulatory leaders from around the world for three days of collaboration, networking and learning in Des Moines, Iowa, – the hub of the U.S. insurance industry.

Key Points: 
  • DES MOINES, Iowa, June 02, 2023 (GLOBE NEWSWIRE) -- The 2023 Global Insurance Symposium brought together industry and regulatory leaders from around the world for three days of collaboration, networking and learning in Des Moines, Iowa, – the hub of the U.S. insurance industry.
  • With the theme of “Thriving in a Changing World,” 500 attendees participated in relevant panels, networking opportunities, breakout sessions and more, gaining valuable insight and direction.
  • “The Global Insurance Symposium offered industry expert speakers and attendees the ideal setting for collaborative efforts as we continue to strengthen the insurance industry heading into the future,” said Jay Byers, President & CEO of the Greater Des Moines Partnership.
  • “Greater Des Moines is an insurance hub, and we were grateful to showcase the innovative work happening in this industry to a global audience.”
    The 2023 Global Insurance Symposium, held in April, featured many notable panelists and featured presenters, offering education and networking opportunities to insurance, insurtech and startup representatives.

AM Best Comments on Credit Ratings of Farmers New World Life Insurance Company Following Reinsurance Agreement Announcement

Retrieved on: 
Wednesday, May 24, 2023
Professional Services, Insurance, Finance, AM Best, ALL, Risk management, Credit, AM, Farmers Insurance Group, News, Farmer

AM Best has commented that the Credit Ratings (ratings) of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA) remain unchanged following the announcement that the company has entered into an agreement with Resolution Life Group to reinsure the in-force individual life insurance book of business.

Key Points: 
  • AM Best has commented that the Credit Ratings (ratings) of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA) remain unchanged following the announcement that the company has entered into an agreement with Resolution Life Group to reinsure the in-force individual life insurance book of business.
  • AM Best does not expect the reinsurance transaction to materially impact FNWL’s adequate operating performance, neutral business profile and appropriate enterprise risk management.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Twilio Research Reveals Scale of AI Surge as 92% of Businesses Flock to the Technology

Retrieved on: 
Tuesday, May 2, 2023
Security, Data Management, Technology, Artificial Intelligence, Software, Uncertainty, Gen, Meta, CX, Customer data platform, Privacy, Marketing, Generation Z, Trafficking in Persons Report, Tablet, Trust, Personalization, Data, Farmers Insurance Group, Hearing, Camping World, Artificial intelligence, United Kingdom, Growth, AI, ROI, NYSE, Farmer, Sales, Customer service, Retail, Twilio, Toggle

These findings clearly point to a growing opportunity to build customer loyalty and lifetime value by engaging consumers with tailored experiences.

Key Points: 
  • These findings clearly point to a growing opportunity to build customer loyalty and lifetime value by engaging consumers with tailored experiences.
  • During this time of uncertainty in the macro economic climate, businesses shouldn’t let potential ROI like this pass them by.
  • To power even more sophisticated real-time customer experiences, the vast majority of businesses are turning to AI to harness high volumes of real-time data and power their personalization efforts.
  • In fact, a third (34%) of Gen Z consumers already expect AI to be used in their experiences with brands.

Tim Stroble Appointed as Olympus Insurance Company Chief Executive Officer

Retrieved on: 
Wednesday, April 12, 2023
Insurance, Professional Services, Executive, OIC, Marketing, United States Naval Academy, China Development Financial Holding Corporation, Farmers Insurance Group, Navy, Knowledge, Sunshine State, American Strategic Insurance, Farmer, Management, Michael Strobl

Gemini Financial Holdings Corporation (GFHC), the parent company of Olympus Insurance Company (OIC), has announced Tim Stroble to the position of Chief Executive Officer.

Key Points: 
  • Gemini Financial Holdings Corporation (GFHC), the parent company of Olympus Insurance Company (OIC), has announced Tim Stroble to the position of Chief Executive Officer.
  • The insurance veteran joins Olympus after having served as the Executive Vice President and Chief Operating Officer at Florida-based Centauri Insurance Company for the last six years.
  • Tim is the experienced, transparent, and dynamic leader that will bring continued stability to Olympus,” stated Dennis McGill, Chairman of Olympus Insurance.
  • The team at Olympus is proud to have a great strategist and exceptional leader in Tim Stroble and are thrilled about the future of Olympus.

Indiana Farmers Insurance is the Latest Carrier to Leverage AI-Powered Estimating from CCC

Retrieved on: 
Wednesday, March 22, 2023
Technology, Insurance, Automotive, General Automotive, Security, Professional Services, Software, Internet, Data Management, Artificial Intelligence, CCC, Farmers Insurance Group, Communication, AI, P&C, Farmer, STP

CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, announces today Indiana Farmers Insurance is the latest auto insurer to leverage its industry-first AI-powered CCC® Estimate – STP solution.

Key Points: 
  • CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, announces today Indiana Farmers Insurance is the latest auto insurer to leverage its industry-first AI-powered CCC® Estimate – STP solution.
  • "Indiana Farmers Insurance is committed to providing our members with an exceptional claims experience," said Wes Sprinkle, President and CEO, Indiana Farmers Insurance.
  • CCC Estimate – STP uses a powerful combination of technologies, data, and partner connections to digitally generate comprehensive estimates for qualified repairable claims.
  • “Indiana Farmers Insurance epitomizes the customer-centricity and spirit of innovation that’s pulsing across the industry today,” said Mike Silva, Chief Commercial and Customer Success Officer, CCC.

Porch Group files application to form a reciprocal insurance exchange

Retrieved on: 
Monday, March 20, 2023
Texas Department of Insurance, Reciprocal, Farmers Insurance Group, Growth, Weather, TDI, Home insurance, Farmer, Insurance, Porch

SEATTLE, March 20, 2023 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced that its insurance business, Homeowners of America (“HOA”), has filed an application to form and license a Texas reciprocal insurance exchange (a “Reciprocal”) with the Texas Department of Insurance (“TDI”).

Key Points: 
  • SEATTLE, March 20, 2023 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced that its insurance business, Homeowners of America (“HOA”), has filed an application to form and license a Texas reciprocal insurance exchange (a “Reciprocal”) with the Texas Department of Insurance (“TDI”).
  • If approved and fully implemented by Porch, its insurance underwriting business would be conducted exclusively through the Reciprocal.
  • The formation of the Reciprocal is an initial step in Porch’s long-term strategy to reduce its exposure to earnings volatility from its Insurance segment by mitigating direct exposure to insurance claims and weather events.
  • This reciprocal exchange structure has been utilized by other homeowner insurance businesses such as Farmers Insurance.