Online MGA Thimble focuses on professional liability, commercial property, event insurance, business equipment protection, and other coverage alternatives.
Through their collaboration, Thimble is able to provide consumers with both its own services and Cerity’s workers’ compensation coverage. For small enterprises, they are automating the insurance purchasing process, providing quick, reasonable quotations as well as the downloading of their own certificates of insurance.
In prepared remarks, Jeff Shaw, executive vice president of Cerity, stated, “We’re excited to link up with Thimble to meet clients where they want to be – online.
A former Burns & Wilcox executive was hired by Embroker to serve as its new chief insurance officer.
David Derigiotis will oversee the development of the insurance vertical products for the online insurance broker, especially those with a focus on privacy, technology, and cybersecurity.
Prior to this, he led the National Professional Liability Practice Group at Burns & Wilcox, a global wholesale broker and MGA, as corporate senior vice president. With 20 years of expertise in the insurance sector, he brings to Embroker a focus on emerging technologies like blockchain, decentralized finance, and cryptocurrency, as well as cybersecurity exposures, data protection law, and regulatory requirements.
Ben Jennings, chief revenue officer at Embroker, stated in prepared remarks that “as we continue to extend our product offerings for other customer categories, [Derigiotis’] breadth of cybersecurity and privacy knowledge will help ensure our solutions are as good as they can be.”
Wrap up Whale
An insurtech MGA with a specialty on commercial trucking, Cover Whale Insurance, has expanded into 10 more states and added new policy lines.
The new states are New Hampshire, Arkansas, Colorado, Maryland, Missouri, Nevada, North Carolina, Rhode Island, and South Carolina. Currently, Cover Whale operates in 48 states for its lines of business in vehicle physical damage, motor truck cargo, non-trucking liability, and truckers’ general liability as well as 27 states for its auto liability coverage.
Dan Abrahamsen, CEO of Cover Whale, stated in prepared remarks that “truck drivers keep the US economy moving” and that “we are committed to supporting them by increasing our services and state availability.”
More than 5,000 agents work at Cover Whale.
Vertafore/Mutual Capital Analytics
Together, Mutual Capital Analytics and Vertafore are working to help mutual insurance firms profit from big data.
Mutual Capital Analytics offers analytical tools and services to mutual insurance businesses, while Vertafore is a provider of insurance technology.
In order to help mutual insurance companies collaborate with their independent agents and be more competitive in the personal lines market, their agreement calls for MCA to combine its analytics skills with Vertafore’s data and analytics offerings.
The partnership is meant to assist carriers in swiftly gaining insight that can be used to control performance.
Mutual Capital Analytics, which was established in 2019, works with executives of Mutual Insurance Companies to improve their ability to compete.
Technologies by Duck Creek
SBS and Duck Creek are working together to hasten same-day claims settlements.
Property/casualty insurance technology products and services are developed by Duck Creek. In the UK, SBS offers services for technology-enabled content assessment and replacement.
Through the Duck Creek Content Exchange, the businesses are putting their cooperation into action. Customers of Duck Creek can link to SBS’s Digital Household Contents Validation systems to complete a one-touch, same-day settlement of a contents claim. Additionally, their connection will enable a claims model that is entirely digital.
For independent landlords, TheGuarantors has introduced rent and damage protection.
The fintech MGA, based in New York, creates intelligent financial and insurance services and products for landlords.
Independent landlords use the platform to access the insurance offerings from TheGuarantors and ask their potential tenants to submit an application in just a few short steps. TheGuarantors provides a Lease Guarantee policy to safeguard the landlord’s rental income against loss due to rent defaults, vacancies, lease breaks, and other typical hazards in exchange for the renter paying a fee (generally less than one month’s rent).
TheGuarantors also provides a Security Deposit Replacement product that assists landlords in complying with evolving deposit laws, removing administrative burdens, and attracting more tenants by providing a deposit substitute that considerably lowers move-in costs.
In order to expand the use of its technology for preventing fraud on personal accounts and personal data, IronVest raised $23 million in early funding.
The startup from New York is also officially coming out of stealth mode, which implies it was working covertly to create and improve its technologies.
Trust Ventures, Ulysses, Joule Ventures, OurCrowd, and a number of strategic angel investors joined Accomplice in leading the round.
The company uses decentralized biometric fraud prevention technology to ensure that only the right individual can access the most sensitive accounts and data at sign-in and during a session, as well as decentralized biometric infrastructure to protect personal data.