MGA

OneShield & Coforge Join Forces to Elevate Customer Success on OneShield's Enterprise SaaS Platform

Retrieved on: 
Thursday, December 14, 2023
MGA, Coforge, Interview, Partnership, Software as a service, Policy, Marketing, Insurance

This collaboration is poised to redefine customer success on the OneShield Enterprise platform by seamlessly aligning OneShield's advanced solutions with Coforge's specialized expertise strengthening their footprint in the MGA space and broader insurance market.

Key Points: 
  • This collaboration is poised to redefine customer success on the OneShield Enterprise platform by seamlessly aligning OneShield's advanced solutions with Coforge's specialized expertise strengthening their footprint in the MGA space and broader insurance market.
  • Together, OneShield and Coforge are positioned to drive positive transformation in the insurance industry.
  • "We are thrilled to join forces with Coforge in our shared commitment to empowering clients on the OneShield platform," said Ken Shapiro, Chief Revenue Officer at OneShield.
  • Clients can anticipate accelerated implementations, heightened customer support, and the expansion of innovative solutions to maximize their experience within the OneShield Enterprise SaaS platform.

InsurePay® Welcomes Missouri Employers Mutual as a New Customer on its Workers' Comp Pay-as-you-go Carrier Platform

Retrieved on: 
Thursday, December 14, 2023
Carrier, MEM, Fintech, Missouri Employers Mutual, MGA, Insurance, Policy, Online shopping

Compared to an estimated annual payroll amount, InsurePay Pay-as-you-go relies on real-time payroll data to calculate workers' comp premiums, resulting in more timely and accurate premium payments throughout the policy period. This helps prevent a policyholder from overpaying during the year -- or owing an additional unexpected premium due at the end of the term. Pay-as-you-go helps with cash flow for the policyholder, providing accurate payments throughout the year rather than a large estimated upfront payment.

Key Points: 
  • NASHVILLE, Tenn., Dec. 14, 2023 /PRNewswire-PRWeb/ -- InsurePay ®, an end-to-end Insuretech payment platform for Carriers, Agents, and MGAs welcomes Missouri Employers Mutual (MEM) as a new customer to InsurePay's Carrier Platform.
  • InsurePay Pay-as-you-go will enhance MEM's policyholder user experience by allowing a streamlined payment process for businesses by relying on real-time payroll data to calculate workers' comp premiums.
  • "Now, the customer can automate their payroll data and payments in real-time through MEM Pay-as-You-Go.
  • MEM Pay-as-You-Go is available for all MEM and Previsor policies, regardless of whether they utilize an automated payroll provider or self-report.

Falvey Announces Retirement of Daryl Mackay

Retrieved on: 
Thursday, December 14, 2023
Retirement, Growth, MGA, JLT, News, Management, Falvey, Operation

NORTH KINGSTOWN, R.I., Dec. 14, 2023 /PRNewswire/ -- Falvey Insurance Group, a specialty MGA, announces the retirement of Daryl Mackay, Chief Relationship Officer, effective December 31, 2023.

Key Points: 
  • NORTH KINGSTOWN, R.I., Dec. 14, 2023 /PRNewswire/ -- Falvey Insurance Group, a specialty MGA, announces the retirement of Daryl Mackay, Chief Relationship Officer, effective December 31, 2023.
  • After an illustrious insurance career most notably with 27 years at JLT, and the past 6 years at Falvey, Mackay has decided to retire from his current role, and will subsequently transition into a board position at Falvey.
  • Mackay has played a pivotal part in the growth and success of Falvey, leading the company first as a broker partner while at JLT and eventually as a key executive of the organization.
  • I want to express my sincere appreciation for the commitment, and the exceptional contributions he has made to Falvey.

Demand for Talent, Expertise Drives ReSource Pro's Growth in India

Retrieved on: 
Wednesday, December 13, 2023
ITIL, Investment, Growth, MGA, Insurance, Senior, Software, Sohal, Management

NEW YORK, Dec. 13, 2023 /PRNewswire-PRWeb/ -- ReSource Pro, a trusted partner specializing in business process optimization, operations, and transformation solutions for the insurance sector, is proud to announce key accelerations in India contributing to its overall growth in 2023. Today, the company revealed year-end projections showcasing a 61% increase in its global operations staff in India, paralleled by a projected year-over-year revenue surge of 75% in the market. This expansion underscores ReSource Pro's unwavering dedication to providing resiliency for insurance organizations through a global workforce model.

Key Points: 
  • This expansion underscores ReSource Pro's unwavering dedication to providing resiliency for insurance organizations through a global workforce model.
  • Manj Sohal, Senior Vice President of Service Delivery, India for ReSource Pro, emphasized the company's enduring commitment to the market, "For several years, ReSource Pro has strategically invested in India, tripling our operations in Bangalore over the past four years," Sohal explained.
  • We see significant, ongoing opportunity to address the needs of our client community through growth in this market."
  • Dan Epstein, CEO of ReSource Pro, noted, "Our India Operations team consistently delivers exceptional performance and profitability for our property and casualty insurance clients.

Forrest T. Jones Goes Live on OneShield Market Solutions, Accelerating Strategic Growth Plans

Retrieved on: 
Tuesday, December 12, 2023
Accounting, MGA, Growth, Insurance, Policy, Partnership, Interview, Paramount, Education, OMS, Financial adviser, Online shopping

This milestone positions FTJ to advance its strategic growth initiatives by leveraging leading-edge, cloud-based technology to scale operations.

Key Points: 
  • This milestone positions FTJ to advance its strategic growth initiatives by leveraging leading-edge, cloud-based technology to scale operations.
  • Adopting OMS' platform aligns with FTJ's vision of providing tailored insurance solutions to its expanding client base.
  • With a focus on sectors such as education, accounting, and law, FTJ is committed to delivering highly customized insurance programs.
  • As FTJ continues to evolve in response to industry trends, this strategic partnership with OneShield positions the organization for sustained success and growth in the ever-changing insurance landscape.

Distinguished Programs announces Executive Lines Insurance strategic partnership with RSUI subsidiary, Covington Specialty Insurance Company

Retrieved on: 
Tuesday, November 28, 2023
MGA, EPL, D&O, Gamma globulin, Partnership, Employment practices liability, Growth, RSUI, Financial services, Distinguishing

NEW YORK, Nov. 28, 2023 /PRNewswire/ -- Distinguished Programs ("Distinguished"), a national insurance program manager, is pleased to announce its strategic partnership with Covington Specialty Insurance Company, a RSUI Group, Inc. subsidiary, to provide executive lines insurance products exclusively to the wholesale brokerage community.

Key Points: 
  • NEW YORK, Nov. 28, 2023 /PRNewswire/ -- Distinguished Programs ("Distinguished"), a national insurance program manager, is pleased to announce its strategic partnership with Covington Specialty Insurance Company, a RSUI Group, Inc. subsidiary, to provide executive lines insurance products exclusively to the wholesale brokerage community.
  • The Distinguished Executive Lines business will begin accepting submissions on January 2, 2024.
  • "With our top-tier platform in place, I'm pleased to announce that Distinguished Executive Lines is open for business," says Ryan Becker, president of Distinguished Executive Lines.
  • "Both Covington and Distinguished's Executive Lines team are market leaders, with a deep understanding of the nuances of the wholesale channel.

Reinsurance Company Northern Re Announces New Raise with $75M in Committed Capital

Retrieved on: 
Tuesday, November 28, 2023
MGA, Entrepreneurship, Insurance, Multimedia, Actuary, Trust, Single (music), Credit, Growth, Financial services

The New York and Cayman-based group announced their second fundraise this week, bringing the total committed capital to $75M.

Key Points: 
  • The New York and Cayman-based group announced their second fundraise this week, bringing the total committed capital to $75M.
  • Northern Re deploys capacity via what it refers to as a hybrid approach to the traditional collateral model, bifurcating the capital stack into company surplus, as well as risk capital.
  • The Company further differentiates itself through the existence of an onshore balance sheet, Northern Reinsurance Segregated Portfolio Holdings ("Northern Holdings").
  • These partnerships will be critical as the Company expands, targeting total committed capital over $100M for the 2024 year to further establish Northern Re as a longstanding provider of stable reinsurance capacity.

State National entering the UK market in 2024

Retrieved on: 
Tuesday, November 28, 2023
MGA, Freeman, NYSE, Insurance, State National Companies, Corporate development, MKL, Airline, Markel Corporation

LONDON, Nov. 28, 2023 /PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), announced today that State National Companies, its wholly owned subsidiary, is entering the UK market beginning January 1, 2024.

Key Points: 
  • LONDON, Nov. 28, 2023 /PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), announced today that State National Companies, its wholly owned subsidiary, is entering the UK market beginning January 1, 2024.
  • State National, the largest program services carrier in the U.S., is partnering with Markel International Insurance Company Limited to create a program services division in the UK to serve managing general agents (MGA).
  • "The UK MGA market is underserved, and we're intent on building a leading program services division in the UK.
  • "Working across Markel, Rob has driven the effort to establish State National Global with its program services expertise in the UK market," Freeman added.

State National entering the UK market in 2024

Retrieved on: 
Tuesday, November 28, 2023
MGA, Freeman, NYSE, Insurance, State National Companies, Corporate development, MKL, Airline, Markel Corporation

LONDON, Nov. 28, 2023 /PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), announced today that State National Companies, its wholly owned subsidiary, is entering the UK market beginning January 1, 2024.

Key Points: 
  • LONDON, Nov. 28, 2023 /PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), announced today that State National Companies, its wholly owned subsidiary, is entering the UK market beginning January 1, 2024.
  • State National, the largest program services carrier in the U.S., is partnering with Markel International Insurance Company Limited to create a program services division in the UK to serve managing general agents (MGA).
  • "The UK MGA market is underserved, and we're intent on building a leading program services division in the UK.
  • "Working across Markel, Rob has driven the effort to establish State National Global with its program services expertise in the UK market," Freeman added.

Delos Insurance Solutions Partners with Exavalu to Implement Guidewire InsuranceNow Cloud Platform Successfully to Deliver Protection to Wildfire-Exposed Homes in California

Retrieved on: 
Friday, November 10, 2023
MGA, Coherence, Algorithm, Digital, Partnership, Lloyd's of London, CO, Guy-wire, Insurance

Exavalu implemented a non-admitted homeowners' product on the Guidewire InsuranceNow platform with a full-range of capabilities covering new business issuance, rating, endorsements, renewals, billing, forms and rating.

Key Points: 
  • Exavalu implemented a non-admitted homeowners' product on the Guidewire InsuranceNow platform with a full-range of capabilities covering new business issuance, rating, endorsements, renewals, billing, forms and rating.
  • Exavalu worked closely with Guidewire and Delos to successfully deliver the implementation in an accelerated timeframe within six months from inception to product launch.
  • Exavalu brought expertise in Insurance advisory, core & digital implementations, and Guidewire InsuranceNow cloud platform that helped with a smooth implementation.
  • Exavalu is honored to have partnered with Delos to rapidly launch products that meets the needs of wildfire exposed at-risk homeowners in California."