MGA

Holmes Murphy Launches New Company: Innovative Program Solutions (IPS)

Retrieved on: 
Thursday, May 9, 2024

WAUKEE, Iowa, May 9, 2024 /PRNewswire/ -- Holmes Murphy, one of the nation's largest employee-owned and controlled insurance brokerages, is thrilled to announce the launch of Innovative Program Solutions (IPS). IPS is a full-service Managing General Agent (MGA) practice. The company will be focused on designing specialized insurance programs to help businesses in targeted industries drive down expenses and loss ratios with custom solutions created by industry experts who have decades of experience.

Key Points: 
  • WAUKEE, Iowa, May 9, 2024 /PRNewswire/ -- Holmes Murphy, one of the nation's largest employee-owned and controlled insurance brokerages, is thrilled to announce the launch of Innovative Program Solutions (IPS).
  • IPS is led by Tim Anders, a highly respected and successful insurance industry veteran with more than 35 years of experience in underwriting, new program development, program management, and leadership.
  • "Innovative isn't just in our name — it's in our nature," said Tim Anders, President, IPS.
  • "By creating Innovative Program Solutions, we will help to ensure every program is tailored to each business by providing dedicated resources while working to manage costs."

Two Major Grid Operators Embark on Joint Planning Endeavor To Enhance Reliability

Retrieved on: 
Thursday, May 9, 2024

VALLEY FORGE, Pa. and CARMEL, Ind., May 9, 2024 /PRNewswire/ -- PJM Interconnection and the Midcontinent Independent System Operator (MISO) announced today that the organizations will collaborate on an informational interregional transfer capability study, set to be performed during the second half of 2024.

Key Points: 
  • Increasing transfer capability between regions may help to support greater grid resilience, particularly following extreme weather events and the influx of renewable generation resources with intermittent output.
  • "PJM looks forward to embarking on this study process with MISO as a path to increased coordination," said Paul McGlynn, PJM Vice President – Planning.
  • "Ensuring a reliable energy transition requires greater interdependence among regions and careful planning.
  • "MISO and PJM have a long history of working together to address operational and planning challenges in our regions," said Aubrey Johnson, Vice President System Planning and Competitive Transmission at MISO.

Paragon Insurance Expands Use of Kalepa's Copilot to Four Additional Programs

Retrieved on: 
Thursday, May 9, 2024

NEW YORK, May 9, 2024 /PRNewswire-PRWeb/ -- Insurtech leader Kalepa announced today that Paragon Insurance Holdings LLC, one of the fastest growing national multi-line MGAs, has expanded its use of Kalepa's AI-powered Copilot underwriting platform to support its Workers' Compensation, Specialty Property, Small Construction and Contractors, and Auto Dealers programs.

Key Points: 
  • -Ron Ganiats, CEO of Paragon
    Paragon had initially deployed and expanded their use of Copilot in the summer of 2023.
  • The expansion to supporting four other programs is a testament to Copilot's ability to deliver underwriting excellence across all commercial lines of business.
  • "Copilot serves as a one-stop-shop for our underwriters, compiling critical information in one place so they can provide accurate quotes.
  • "We are thrilled to deepen our partnership with the excellent team at Paragon Insurance," said Paul Monasterio, CEO and Co-Founder of Kalepa.

Magna Announces 2024 Annual Meeting Results

Retrieved on: 
Thursday, May 9, 2024

Magna is more than one of the world’s largest suppliers in the automotive space.

Key Points: 
  • Magna is more than one of the world’s largest suppliers in the automotive space.
  • We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of 179,000(2) employees across 343 manufacturing operations and 105 product development, engineering and sales centres spanning 28 countries.
  • For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.
  • (1) Manufacturing operations, product development, engineering and sales centres include certain operations accounted for under the equity method.

Boundless Rider Launches Motorcycle Insurance Industry's First AI-Powered App to Lower Monthly Premiums and Promote Rider Safety

Retrieved on: 
Wednesday, May 8, 2024

BOSTON, May 8, 2024 /PRNewswire/ -- Boundless Rider Insurance Agency, LLC ("Boundless Rider"), a new insurtech focused on innovating and modernizing insurance for motorcycle and powersport riders, today announced the launch of its Safe Rider Program, which harnesses the power of AI and telematics to enhance rider safety and put money back in their pockets when the vehicle is not in use. The news arrives during Motorcycle Safety Awareness Month, which is commemorated each May to raise drivers' awareness of motorcycles on the road and promote safety measures for riders. Additionally, the company announced that Boundless Rider policies are now available for purchase in Ohio, making it possible for owners of on-road and off-road motorcycles, ATVs, UTVs, snowmobiles, scooters, and mopeds to obtain coverage online via the Boundless Rider website or through agent partners.

Key Points: 
  • The news arrives during Motorcycle Safety Awareness Month , which is commemorated each May to raise drivers' awareness of motorcycles on the road and promote safety measures for riders.
  • Policyholders will automatically receive a 5% policy discount upon opting in to the Safe Rider Program and connecting the app to their policy.
  • Boundless Rider is currently available to riders in Texas, Arizona, Illinois and Ohio, with more states rolling out this year.
  • All policies in Arizona, Illinois, and Ohio are underwritten by Incline Casualty Company; policies in Texas are underwritten by Redpoint County Mutual Insurance Company.

BindHQ and Ascend Partner to Transform Broker Management and Financial Operations, Streamlining MGA Payment Workflows, Boosting Efficiency and Profitability

Retrieved on: 
Tuesday, April 30, 2024

This collaboration leverages Ascend's suite of automation solutions to streamline payments and accounting processes alongside BindHQ's all-encompassing management technology.

Key Points: 
  • This collaboration leverages Ascend's suite of automation solutions to streamline payments and accounting processes alongside BindHQ's all-encompassing management technology.
  • "We're elevating the insurance financial and operational landscape by integrating Ascend's cutting-edge technology into BindHQ," stated Cristian Joe , founder and CEO of BindHQ.
  • "With a shared vision for innovation and service excellence, Ascend and BindHQ will unlock resources for MGAs, wholesalers and MGUs to be able to increase production and be more competitively positioned."
  • Optimized Cash Flow: Swift processing and improved payment terms for better financial control.

Ivans Brings Home the Gold Stevie Award® in the 2024 American Business Awards®

Retrieved on: 
Thursday, May 2, 2024

Milwaukee, WI., May 02, 2024 (GLOBE NEWSWIRE) -- Ivans today announced that the company was named the winner of a Gold Stevie Award in the Company of the Year - Insurance - Large Status category in the 22nd Annual American Business Awards.

Key Points: 
  • Milwaukee, WI., May 02, 2024 (GLOBE NEWSWIRE) -- Ivans today announced that the company was named the winner of a Gold Stevie Award in the Company of the Year - Insurance - Large Status category in the 22nd Annual American Business Awards.
  • The American Business Awards are the U.S.A.’s premier business awards program.
  • All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small.
  • “Ivans has shown commendable performance with solid metrics that highlight their success in enhancing data exchange processes within the insurance industry.

Quadrant Insurance Managers and Verve Risk Services Ltd Announce Exclusive Relationship

Retrieved on: 
Wednesday, May 1, 2024

Quadrant and Verve are pleased to announce their latest step in advancing a partnership that began over 20 years ago from an underwriting relationship.

Key Points: 
  • Quadrant and Verve are pleased to announce their latest step in advancing a partnership that began over 20 years ago from an underwriting relationship.
  • Quadrant will be the exclusive regional partner for Verve specifically for risks domiciled in NC, MT, TN, & VT by offering insurance company management and professional liability (D&O, EPL, Fiduciary, & PL) for insurance companies, captives, RRGs, and other risk takers.
  • We know the team at Quadrant well and are excited to take this next step in working together.”
    Jillian Harris, Quadrant President, added, “Quadrant and Verve have developed a longstanding successful relationship that has continued to evolve.
  • For over 20 years Quadrant has specialized in professional liability for insurance companies, captives, RRGs, other risk takers (ACPRO) and insurance retailers, wholesalers, MGAs, reinsurance intermediaries (ABPRO) and more.

Announcing Specialty Program Group as the First EcoClaim Certified MGA in North America

Retrieved on: 
Wednesday, April 10, 2024

VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- EcoClaim is proud to welcome Specialty Program Group as the first North American EcoClaim certified MGA.

Key Points: 
  • VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- EcoClaim is proud to welcome Specialty Program Group as the first North American EcoClaim certified MGA.
  • Specialty Program Group Canada (SPGC) known best under operating brands Cansure, Beacon, and i3 Underwriting, is taking decisive steps toward achieving its Environmental, Social and Governance (ESG) goals.
  • SPGC’s second key initiative is becoming the first MGA in the Canadian insurance industry to achieve EcoClaim certification.
  • As the first EcoClaim Certified MGA, SPGC is driving broader climate action among their suppliers and community.

Stuart Myers and Christopher Conti Join RYZE Claim Solutions’ Board of Directors

Retrieved on: 
Monday, April 22, 2024

RYZE Claim Solutions (“RYZE” or “the Company”), a leading full-service claims management business, today announced the appointment of Stuart Myers and Christopher Conti, two highly regarded experts in the insurance and investment industries, to the Board of Directors.

Key Points: 
  • RYZE Claim Solutions (“RYZE” or “the Company”), a leading full-service claims management business, today announced the appointment of Stuart Myers and Christopher Conti, two highly regarded experts in the insurance and investment industries, to the Board of Directors.
  • Myers and Conti bring decades of leadership experience, driving innovation, increasing efficiency, and improving client satisfaction for a number of established insurance companies throughout their tenured careers.
  • View the full release here: https://www.businesswire.com/news/home/20240422798430/en/
    “With significant expertise in insurance, investments, and the wider financial services industry, Stu and Chris bring valuable experience to our board,” said Tony Grippa , RYZE Executive Chairman of the Board.
  • Recently, Myers led as Chief Operating Officer of Stuart Myers Consulting, an advisor to a variety of clients in the insurance, government, real estate, and manufacturing sectors.