Beazley’s partners with Cytora to digitize and automate risk processing, accelerating growth

Key Signals in Insurance

Quipt secures national insurance contract 
The insurance company has executed a national contract with a top US health insurer. Quipt Home Medical most recently acquired Good Night Medical, based in Winchester; when it makes acquisitions, the company can immediately leverage the national contract to capture as many eligible patients as possible. Read More>>
NFP becomes the official insurance partner of Rugby Canada in a multiyear signature partnership 
NFP becomes the official insurance partner and the official team partner of the women’s 15s senior program. NFP and Rugby Canada will collaborate on a program to provide girls across Canada with opportunities to participate in the sport and engage with Rugby Canada teams. Read More>>
Beazley and Cytora partner to streamline insurance for brokers and clients 
The company partnered with insurtech Cytora to automate risk processing and accelerate profitable growth. Using the Cytora Platform, Beazley will streamline its global risk intake, reduce manual processes, and uplift straight-through-processing. Read More>>
Partners Life becomes the first New Zealand life and health insurer to go live on the FINEOS platform 
The FINEOS platform is a purpose-built end-to-end SaaS core platform for life, accident, and health insurers. The Partners Life and FINEOS partnership replaced the insurer’s existing system with FINEOS Claims, giving Partners Life unparalleled operational and customer service benefits. Read More>>
Executive Movement
Everest Re makes appointments for Reinsurance Canada 
The company promoted Scott Paddington to Chief Agent and Chief Underwriting Officer of Everest Reinsurance Canada and appointed Russ Lewis to Chairman of the same branch. Paddington and Lewis will report directly to Jill Beggs, Head of North America Reinsurance at Everest. Read More>>
Dr. Marianne Cumming joins Penn Mutual as Chief Medical Director 
The company announced that Dr. Marianne Cumming joined the company as VP and chief medical director, reporting to Gretchen Dinucci, vice president and chief underwriter of the company’s life insurance and annuities line of business. Read More>>
Modern Woodmen of America names new CEO 
The company appointed Jerald J. Lyphout of East Moline as the organization’s 12th president and CEO. Modern Woodmen, a fraternal financial services organization, has been headquartered in Rock Island since 1897. Until then, Massey will continue his presidential responsibilities, working closely with Lyphout. Read More>>
Financial and Market Activity
Chubb Posts record Q1 P/C underwriting income 
The company’s first-quarter 2022 net income fell to USD 1.97 Bn compared with USD 2.30 Bn during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record USD 1.3 Bn. Read More>>

Latest Industry Insights from Draup Braindesk

Key Funding Alert

Tive raises USD 54 Mn in Series-B funding led by AXA Venture Partners 
This latest investment will fuel Tive to grow its presence with an expansion of global sales and marketing initiatives. It will accelerate the development and introduction of next-generation solutions and services and bring actionable supply chain intelligence and 24/7 monitoring to the market. Read More>>

Startup Spotlight

Company – RenewBuy
Total Funding – USD 84.41 Mn
About: RenewBuy offers a simple way to renew car insurance. RenewBuy works on a digital agent model, which provides transparency and provides instant insurance to lower prices from multiple options. Its proprietary technology platform enables trained advisors to offer insurance products. Read More>>

Latest Reports Published in Draup

Allied Solutions, L.L.C – Account Intelligence Report: Allied Solutions aims to provide industry-leading models to identify opportunities and serve financial institutions, credit unions, community banks, finance, a large bank, and international markets. Allied Solutions deploys AI and ML towards automation. Read More>>
Jackson Life Insurance Company Account Intelligence Report: Jackson National Life Insurance launched Retirement Expense & Income Calculator, featuring an income gap analysis and a Proposed Gap Solution Illustrator. It intends to develop a Retirement Expense & Income Calculator for inspections by utilizing gap analysis and a proposed gap solution. Read More>>
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