Partnerships
Humana and Longevity Health partner to expand access to special needs plans for medicare beneficiaries
Humana and Longevity Health Plan are collaborating to offer Medicare Advantage plans for special needs individuals in senior living facilities. These plans combine the benefits of Original Medicare with prescription drug coverage and are designed for members with special needs or characteristics. Read More>>
Axa Partners and Arc Legal partner with Sky over a new smart home offering
Sky announced a partnership with Axa Partners and Arc Legal to launch a new smart home insurance package. Axa Partners will offer a home emergency add-on, while Arc Legal will provide legal expenses insurance and cyber assistance. The package includes a home cover, smart home technology products worth £250, and an app for easy access. Read More>>
Mergers and Acquisitions
Leavitt Group expands with another North Carolina agency acquisition
Leavitt Elite Insurance has merged with Simmons Insurance Agency in North Carolina. This is part of Leavitt Group’s expansion strategy, which includes acquiring several other agencies in the state. The merger adds to Leavitt’s extensive network of offices across the United States. Read More>>
Peoples Bancorp completes acquisition of Limestone Bancorp
Peoples Bank has acquired Limestone Bank, including its 20 branches throughout Kentucky. Limestone Bank had US$ 1.5 Billion in total assets, US$ 1.1 Billion in total loans, and US$ 1.2 Billion in total deposits as of March 31, 2023, and will now operate as a division of Peoples Bank. Read More>>
Executive Movements
Manulife Financial Corporation
Manulife appointed Mr. Arnott, Ms. DeCamillo, and Mr. Fitzgerald to its leadership team. Mr. Arnott has held multiple roles, while Mr. Fitzgerald joins from Credit Suisse. He will focus on expanding the company’s global distribution footprint. Read More>>
Tompkins Financial Corp announced a change in Directors or Principal Officers, regulation FD disclosure
The company appointed Jennifer Whalen as its new Senior Vice President and Chief Information Officer. Whalen will manage the company’s information technology and digital strategy. Read More>>
Credit Agricole CA-GIP appoints Olivier Biton as CEO
Credit Agricole Group appointed Olivier Biton as the new CEO. He replaces Emmanuel Sardet, Deputy Group Chief Information Officer at Credit Agricole S.A. Biton joined Credit Lyonnais in 2002 and later joined Credit Agricole Group in 2007, where he held various project management positions. Read More>>
Financial and Market Activity
CNO Financial Group reports first quarter 2023 results
CNO Financial Group Inc. reported a net loss of US$ 0.8 Million in Q1 2023, compared to net income of US$ 183.4 Million in Q1 2022. Operating income increased by US$ 13.4 Million YoY. Health products comprised 53% of the insurance margin and 64% of insurance policy income in Q1 2023. Read More>>
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Latest Industry Insights from Draup Braindesk
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Business Expansion
- Assurant focuses on developing global housing business services to provide homeowners insurance and manufactured housing insurance to grow Assurant’s Cover360 product that enables renters to pay for renters insurance conveniently.
- The company is keen on expanding global lifestyle business services to develop new marketing practices involving electronics & appliances, credit, and other insurance products & data-related services.
Advanced Transaction Services
- Assurant focuses on developing advanced transactions to provide customers with more payment options that enhance tablets, HYLA Mobile, trade-in upgrade services, and mobile device protection.
- The company is keen on enhancing the Pocket Geek Auto mobile app that helps dealers and clients connect with customers and develops digital relationships with banks, retailers, and other service suppliers.
Digital Platform Enhancement
- Assurant focuses on developing digital financing solutions to provide customers with flexible spending options that enhance payments and data analytics hardware & software to streamline platform operations.
- Assurant achieves digital transitioning existing systems onto cutting-edge platforms, designing digital product delivery models expertise to use technology to change the world.
Insurance Services & Automation
- Assurant focuses on expanding insurance automation services to streamline insurance processes such as marketing, renewals, and sales delivery capabilities for the connected consumer while embracing operational transformation. It implements digital dynamic claims resolution to make it easier for consumers to start and complete a claim. Service Providers with rich expertise in these areas would be apt to serve Assurant with better solutions.
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Startup Spotlight
Company – Surround Insurance
Total Funding – USD 5.74 Mn
About: Surround Insurance is an InsurTech company that offers property and casualty insurance products for young urban professionals. The company was founded in 2018 by Jonathon Grayson and Kate Terry and is headquartered in Cambridge, Massachusetts, United States. Read More>>
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Introducing Events App to help you stay informed about upcoming events
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- Introducing Events app – Stay informed about upcoming events that match your interests
- Empower collaboration with our latest update on Lists! List owners can now easily grant or revoke permissions for colleagues to add or remove potential leads from their lists
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