MGA

Applied Systems Supports Invest in 40th Anniversary Celebration

Retrieved on: 
Thursday, November 9, 2023
Insurance, Education, International Institute for Applied Systems Analysis, Broker, Independent Insurance Agents & Brokers of America, Workforce, Organization, Volunteering, Software, Independent insurance agent, Curriculum, Risk management, Student, MGA, Genting Group, Management, Symbiosis University of Applied Sciences, Investment

Chicago, IL, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Applied Systems® today announced its ongoing support of Invest, the insurance industry’s premier classroom-to-career education program, with a $40,000 donation that will go directly to the organization’s first learning management system.

Key Points: 
  • Chicago, IL, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Applied Systems® today announced its ongoing support of Invest, the insurance industry’s premier classroom-to-career education program, with a $40,000 donation that will go directly to the organization’s first learning management system.
  • The contribution to Invest, a program administered by the Independent Insurance Agents & Brokers of America (the Big “I”), coincides with Applied’s 40th anniversary and reflects the company’s continued commitment to investing in the future of the industry.
  • A longtime Invest advocate, Applied Systems also donates software for use in insurance education courses and has supported Invest with awareness-building media campaigns.
  • “We are excited to further our collaboration with Invest and the Big ‘I’ and support this important mission.”
    The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

DOXA Insurance Holdings Announces Acquisition by Goldman Sachs Asset Management

Retrieved on: 
Tuesday, November 7, 2023
Goldman Sachs, Insurance, Choate, Hall & Stewart, Family, Sullivan & Cromwell, Acquisition, Oliver Cromwell, LLP, Private equity, The Company, MGA, Security (finance), Financial adviser

FORT WAYNE, Ind., Nov. 7, 2023 /PRNewswire-PRWeb/ -- DOXA Insurance Holdings ("DOXA" or the "Company"), one of the fastest growing niche underwriting and distribution companies in North America, announces it has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management ("Goldman Sachs").

Key Points: 
  • FORT WAYNE, Ind., Nov. 7, 2023 /PRNewswire-PRWeb/ -- DOXA Insurance Holdings ("DOXA" or the "Company"), one of the fastest growing niche underwriting and distribution companies in North America, announces it has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management ("Goldman Sachs").
  • This private equity investment by Goldman Sachs marks a pivotal moment for DOXA, propelling the company towards its next phase of expansion.
  • Matt Sackett, CEO and founder of DOXA Insurance Holdings, said, "The investment from Goldman Sachs is a testament to the strong business and brand DOXA has created since inception.
  • Piper Sandler & Co. and Goldman Sachs & Co. LLC served as financial advisor and Sullivan & Cromwell LLP served as transaction counsel to Goldman Sachs in connection with this transaction.

Ivans Index October 2023 Results Released

Retrieved on: 
Tuesday, November 7, 2023
Umbrella, Insurance, Padmakar–Ivan index, Commercial general liability insurance, Policy, MGA, Commercial property, BOP, Ivane Matchavariani

Milwaukee, WI., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Ivans ® today announced the October 2023 results of the Ivans Index™, the insurance industry’s premium renewal rate index.

Key Points: 
  • Milwaukee, WI., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Ivans ® today announced the October 2023 results of the Ivans Index™, the insurance industry’s premium renewal rate index.
  • Released monthly, Ivans Index is a data-driven report of current conditions and trends for premium rate renewal change of the most placed commercial lines of business in the insurance industry.
  • Analyzing more than 120 million data transactions, the Ivans Index premium renewal rate change measures the premium difference year over year for a single consistent policy.
  • Ivans Index is available to agencies and insurers as part of Market Insights at markets.ivansinsurance.com .

Insurity's Sure Personal Suite Provides Personal Lines P&C Carriers with a Cost-Effective, Highly Configurable, Cloud-Native Policy, Billing, and Claims Solution

Retrieved on: 
Tuesday, November 7, 2023
Software, Technology, Professional Services, Insurance, AWS, P&C, Retinue, MGA, Agility, Azure, Cyber insurance, RV

"Many carriers, especially in the personal lines segment, are facing unprecedented economic challenges," said Sylvester Mathis, Chief Insurance Officer at Insurity.

Key Points: 
  • "Many carriers, especially in the personal lines segment, are facing unprecedented economic challenges," said Sylvester Mathis, Chief Insurance Officer at Insurity.
  • Sure Personal Suite is a highly configurable, cloud-native policy, billing, and claims solution delivered on Insurity's leading cloud platform support.
  • Sure Personal Suite allows carriers to configure, update, and deploy products quickly to adjust and pursue market opportunities.
  • "Insurity's Sure Personal Suite is a scalable cloud solution tailored for the modern needs of mid-size carriers," said Frank Heaps, VP & General Manager of Carrier Markets at Insurity.

Twists and Turns in the Fronting Market - What's Next?

Retrieved on: 
Tuesday, November 7, 2023
Conning, Research, Insurance, Sale, LOC, Fraud, News, Growth, MGA, Letter of credit, Management

HARTFORD, Conn., Nov. 7, 2023 /PRNewswire/ -- The fronting market has been on a roller coaster in 2023.

Key Points: 
  • HARTFORD, Conn., Nov. 7, 2023 /PRNewswire/ -- The fronting market has been on a roller coaster in 2023.
  • This market was rocked by discovery in July of a massive fraud from Vesttoo-related Letters of Credit.
  • Meanwhile, several new front company formations were announced, and the market has continued its rapid growth through the first half 2023.
  • The Conning report, " As the Fronting World Turns: Recent Developments and Review of Midyear Results " analyzes the major developments over the past few months and provides implications for the future of this market.

Applied Underwriters Unveils United Risk, Taps Industry Leader Dan Malloy as CEO

Retrieved on: 
Tuesday, November 7, 2023
Well, Risk, Tokio Marine HCC, Insurance, Optimism, Dartmouth, Berkshire Hathaway, Gamma globulin, Chris Day, Growth, MGA Entertainment, MGA, Rockefeller Center, MGU, Management, Fatal Five

OMAHA, Neb., Nov. 7, 2023 /PRNewswire/ -- Applied Underwriters today announced the unveiling of United Risk and the naming of former SiriusPoint CEO and industry leader Dan Malloy to head the newly consolidated enterprise. Built up over the last three years within a single operating platform, United Risk now brings together the entirety of Applied Underwriters' multibillion-dollar MGA and MGU businesses into a single cohesive brand to spur its already remarkable growth.

Key Points: 
  • Newly consolidated top-level holding company harnesses billions in MGA premium, set to expand in select markets with elite veteran teams
    OMAHA, Neb., Nov. 7, 2023 /PRNewswire/ -- Applied Underwriters today announced the unveiling of United Risk and the naming of former SiriusPoint CEO and industry leader Dan Malloy to head the newly consolidated enterprise.
  • Mr. Malloy has been named CEO of United Risk.
  • United Risk will be headquartered on two floors in its new 50 Rockefeller Plaza offices in New York.
  • Our continuing and unprecedented aggregation of talent tells it all: the greater Applied Underwriters organization is here to stay as a contender."

Applied Underwriters Unveils United Risk, Taps Industry Leader Dan Malloy as CEO

Retrieved on: 
Tuesday, November 7, 2023
Well, Risk, Tokio Marine HCC, Insurance, Optimism, Dartmouth, Berkshire Hathaway, Gamma globulin, Chris Day, Growth, MGA Entertainment, MGA, Rockefeller Center, MGU, Management, Fatal Five

OMAHA, Neb., Nov. 7, 2023 /PRNewswire/ -- Applied Underwriters today announced the unveiling of United Risk and the naming of former SiriusPoint CEO and industry leader Dan Malloy to head the newly consolidated enterprise. Built up over the last three years within a single operating platform, United Risk now brings together the entirety of Applied Underwriters' multibillion-dollar MGA and MGU businesses into a single cohesive brand to spur its already remarkable growth.

Key Points: 
  • Newly consolidated top-level holding company harnesses billions in MGA premium, set to expand in select markets with elite veteran teams
    OMAHA, Neb., Nov. 7, 2023 /PRNewswire/ -- Applied Underwriters today announced the unveiling of United Risk and the naming of former SiriusPoint CEO and industry leader Dan Malloy to head the newly consolidated enterprise.
  • Mr. Malloy has been named CEO of United Risk.
  • United Risk will be headquartered on two floors in its new 50 Rockefeller Plaza offices in New York.
  • Our continuing and unprecedented aggregation of talent tells it all: the greater Applied Underwriters organization is here to stay as a contender."

Embroker Selects Ascend to Revolutionize the Insurance Industry Through Transformative Technology

Retrieved on: 
Tuesday, November 7, 2023
Financial management, CFO, Insurance, Growth, MGA, Risk management, Fintech, Partnership, SAN, Automation, Mobile phone, Ascend

This collaboration aims to revolutionize the insurance industry by combining Ascend's cutting-edge financial automation solutions with Embroker's expertise in providing tailored, innovative insurance products for business risk profiles and verticals.

Key Points: 
  • This collaboration aims to revolutionize the insurance industry by combining Ascend's cutting-edge financial automation solutions with Embroker's expertise in providing tailored, innovative insurance products for business risk profiles and verticals.
  • Ascend is the industry's sole solution that fully automates the entire insurance payment lifecycle, encompassing premium collection, disbursement, reconciliation, and accounting.
  • "Ascend and Embroker are perfectly aligned to drive transformative change and foster innovation," stated Brian Acks , CFO at Embroker.
  • "We are thrilled to partner with Embroker to bring together our automation capabilities with their industry-leading insurance technology expertise," said Andrew Wynn , co-founder and co-CEO at Ascend.

Bridger Insurance Services Chooses insured.io to Improve Self-Service Customer Experience

Retrieved on: 
Tuesday, October 31, 2023
Mandalay Bay Convention Center, P&C, Insurance, Software as a service, Fintech, IVR, Policy, MGA, Organization, SMS, Research, Interactivity, Customer service, Mobile phone

Research Shows Automated Self-service and Proactive Outbound Messaging Improves Customer Experience

Key Points: 
  • Las Vegas, Nevada--(Newsfile Corp. - October 31, 2023) - insured.io , provider of a cloud-based, omnichannel customer engagement platform for insurance organizations, today announced that Bridger Insurance Services has selected insured.io to provide Interactive Voice Response (IVR ) to improve the customer experience for its auto insurance customers.
  • "To retain insurance customers in today's competitive insurance marketplace, carriers must offer a variety of ways to engage.
  • Small to midsize insurance carriers and MGAs often face a deluge of customer calls, causing customer service strain and longer hold times.
  • Implementing the right IVR system delivers a cost-effective solution that automates many common customer service tasks and empowers policyholders to self-serve, reducing wait times and enhancing their experience.

ITC Vegas and Innovation Scout Sønr Award CompScience First Place in Forward50 Americas for Insurance Analytics

Retrieved on: 
Tuesday, October 31, 2023
P&C, Insurance, Nationwide, Workplace, CFOS, Injury, Growth, Risk, Commercial, Partnership, Safety, MGA, CCTV, Risk management

LAS VEGAS, Oct. 31, 2023 (GLOBE NEWSWIRE) -- [ITC Vegas] -- CompScience has been voted the top-ranked startup as part of the Forward50 Americas report for their AI-powered Intelligent Safety Platform.

Key Points: 
  • LAS VEGAS, Oct. 31, 2023 (GLOBE NEWSWIRE) -- [ITC Vegas] -- CompScience has been voted the top-ranked startup as part of the Forward50 Americas report for their AI-powered Intelligent Safety Platform.
  • The report, brought to you by InsureTech Connect in partnership with Sønr, celebrates the most exciting early-stage startups in the region.
  • CompScience provides the first and only visual AI-powered comprehensive workplace injury risk reduction solution, available as a bundle with their workers’ compensation insurance.
  • “We’re proud to be recognized with the Forward50 Americas award for our AI-powered analytics platform.