Church Mutual selects Guidewire Cloud to automate processes to improve speed, flexibility, and operations

Key Signals in Insurance

Catalina to work with QBE subsidiaries
The reinsurance company has entered into an agreement with subsidiaries of QBE Insurance Group Ltd for a loss portfolio transfer of QBEs legacy North American excess and surplus lines before accident year liabilities. The reinsured portfolio consists of primary and excess general liability policies underwritten by subsidiaries of QBE between 2016 and 2020. Read More>>
CNP Assurances signs a share purchase agreement with Mediterrneo Vida relating to its subsidiary CNP Partners
After completing the applicable information and consultation procedures with the employee representatives, the company signed an agreement to sell its Spanish life insurance subsidiary CNP Partners to Mediterrneo Vida1. Read More>>
Church Mutual selects Guidewire Cloud for billing innovation
The insurance company announced that Church Mutual selected BillingCenter on Guidewire Cloud as its new system for billing management among its four companies. Church Mutual originally selected Guidewire ClaimCenter, DataHub, InfoCenter, CustomerEngage Account Management, and Producer Engage in 2019 as self-managed installations. Read More>>
Auto-Owners has partnered with Agency Revolution to offer a marketing automation platform
Agency Revolution, a leading provider of digital marketing solutions for independent insurance agents, announced a partnership with Auto-Owners Insurance. Fuse is the insurance industry’s leading marketing automation platform for personal and commercial lines of business. Read More>>
USAA Life Insurance Company partners with wholesaling firm WealthVest
The company has announced a strategic relationship to distribute certain USAA Life annuity products to select banks and broker-dealers. The new relationship results from an extensive search by USAA Life for a wholesaling partner that could meet USAA Life’s exacting professional service and training standards. Read More>>
Sanlam and Allianz joined forces to create an African insurance giant
The combined operations of Sanlam and Allianz will create a premier Pan-African non-banking financial services entity, operating in twenty-nine countries across the continent. The joint venture will be the largest Pan-African insurance player and is expected to be ranked in the top three in most markets where the entity will operate. Read More>>
Merger and acquisition
Truist acquires gamified finance mobile app Long Game
Truist Financial Corporation acquired Long Game, a gamified finance mobile app. This app uses games to improve financial literacy and drive financial institutions’ account growth and client retention. Long Game’s engineers, designers, and leaders will join Truist’s innovation team as part of this acquisition. Read More>>
AssuredPartners acquires Midwest Group Benefits, Inc.
The company announced that Midwest Group Benefits, Inc. of Decorah, Iowa joined AssuredPartners. Midwest Group Benefits and AssuredPartners will only continue their commitment to offering the most curated and successful solutions for their clients. Read More>>
Executive Movement
RLI names Donald Johnson as VP, Professional Services Group, and Bret Stone as VP, Data & Analytics
Donald Johnson has been promoted to VP, RLI Professional Services Group. He will have executive leadership and oversight responsibility for the Professional Services Group Casualty, Captives and Specialty Package products in his new role. Read More>>
Allstate Canada appoints London Bradley as president and CEO
As the senior vice president, East Zone leader for Allstate sales and distribution with the Allstate Corporation in the US, Bradley leverages his experience in sales to help lead the region to solid financial results in 2021. Read More>>
Financial and Market activity 
ProAssurance: Q1 Earnings Snapshot
The company reported a loss of USD 3.6 Mn in its first quarter. The Birmingham, Alabama-based company had a loss of seven cents per share. Earnings, adjusted for investment costs, came to fourteen cents per share. The results missed Wall Street expectations. Read More>>
Cincinnati Financial Co. announces a quarterly dividend of USD 0.69
Cincinnati Financial has increased its dividend by an average of 5.9% per year over the last three years and has raised its dividend annually for the last sixty-two consecutive years. Cincinnati Financial has a dividend payout ratio of 48.2%, meaning its dividend is sufficiently covered by earnings. Read More>>

Latest Industry Insights from Draup Braindesk

  • Jackson National Life Insurance Company has launched the Retirement Expense & Income Calculator, which features an income gap analysis and a Proposed Gap Solution illustration powered by the Hedgeness Income Engine. 
  • Jackson National Life Insurance Company has launched Jackson Market Link ProSM and Jackson Market Link Pro AdvisorySM, two new registered index-linked annuities. 

Key Funding Alert

Northwestern Mutual is investing USD 5 Mn in two Black-led Milwaukee financial institutions
The company will partner with Legacy Redevelopment Corp. and Northwest Side Community Development Corp. to fuel small business growth and economic vitality in the Milwaukee community and increase access to capital for Black and African American businesses. Read More>>

Startup Spotlight

Company – The Helper Bees
Total Funding – USD 19.02 Mn
About: The Helper Bees work with some of the world’s largest insurance carriers to deliver transformative experiences in digitization, sourcing great care options, and applying machine learning to power intelligent care and claim analytics and processing. Read More>>

Latest Reports Published in Draup

First-Citizens BancShares Account Intelligence Report: First-Citizens BancShares utilize AI and IoT to access banking products and services via an electronic/online platform. Its net income increased 11% compared to 2020 due to growth in commercial lines, equipment leasing, and government lending portfolios. Read More>>
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