Featured Articles Blog

0

Uncategorized

First Advyzon Conference Highlights Tech Updates and More

What You Need to Know On stage, Advyzon and some partner firms announced platform upgrades, integrations and related news. GMO’s Nebo Wealth will work with Advyzon Investment Management’s turnkey asset management offering. After 10 years in the wealthtech space, platform provider Advyzon just staged its first conference. The event, which took place last week in Phoenix, drew a sell-out crowd of 400-plus guests to its technology demonstrations, integration discussions and networking sessions. Advyzon’s “all-in-one” platform is now used by over 1,500 advisory firms, who — along with their custodial integration partners — are using its technology to drive efficiency, productivity and growth. Started by the creators of Morningstar Office, Advyzon seems to be a shining star in today’s technology landscape, as some larger rivals have gone on acquisition sprees and now need to reconcile their resulting debt, manage layoffs, deal with executive departures and tighten their belts. This gives firms like Advyzon a rare opportunity to expand their business and move up market. At the recent conference, Advyzon announced the launch of Advyzon 3.0, a platform upgrade that promises added functionality, artificial intelligence, advanced automation and new mobile capabilities. Because Advyzon is built on a single source code, its end-to-end features (such as CRM,...

Coalition is Now Offering Premium Credits to MDR Customers 0

Uncategorized

Coalition is Now Offering Premium Credits to MDR Customers

By John Roberts, General Manager, Security, Coalition Inc. — Small businesses are at a significant disadvantage when it comes to protecting against cyber risk. They often lack the necessary resources — time, money, expertise, and technology — to continuously shield themselves from the increasing risk of cyber attacks. Such a lopsided battle has prompted cyber insurance providers to embrace a security control that addresses these issues head-on: Managed Detection and Response (MDR). MDR combines the alerting and identification capabilities of endpoint detection and response (EDR) or extended detection and response (XDR) technology with human cybersecurity experts who can respond to events in real-time. Businesses with MDR in place have a 50% faster median time to respond (MTTR), which dramatically minimizes the impact of a cyber incident. But now, we’re taking it a step further. After offering MDR as a service for nearly a year, Coalition is so confident in the risk-reducing benefits of MDR that we’ve decided to put our money where our mouth is: Today, we are announcing that businesses that use Coalition MDR are eligible for up to 12.5% premium credit on cyber insurance policies provided by Coalition. Driving adoption of high-quality security controls Staying one step ahead of threat actors is a...

0

Uncategorized

Orion Expands Access to DPL’s Commission-Free Annuity Marketplace

As Lau stressed, Orion’s advisors will gain access to a comprehensive lineup of commission-free annuities and “best-in-class” life, disability and long-term care products. Orion advisors will additionally have direct, integrated access to DPL’s proprietary tools for discovering and comparing annuities by type, benefits and costs. Finally, data feeds from DPL into the Orion Advisor Technology platform enable management of annuity assets alongside other investments in the client’s portfolio. A Big Milestone for DPL Reflecting on the progress his firm has made over the past five years since its founding, Lau said he was gratified to see the platform cross $1 billion in total annuity sales last year, while the combined assets under management of advisors on the platform has crossed $1 trillion. He said he always expected to hit these levels, but not necessarily this quickly. “Those were both really cool milestones to be able to pass in 2023,” Lau said. “As it related to working with Orion, the main reasons advisors have shied away from using annuities on a fee basis in the past have been structural. The right product formats didn’t exist and the tech didn’t exist — or the tech didn’t work on their systems or desktops....

Blink Parametric enters agreement with Buckler México for rollout of Cyber Solution to Ethics Data Analytics 0

Uncategorized

Blink Parametric enters agreement with Buckler México for rollout of Cyber Solution to Ethics Data Analytics

Blink Cyber Security Solution to combat Online Identity Theft Product set to expand Ethics Cyber Security product suite serving Corporates and CXO level client base Cork, Ireland (Feb. 27, 2024) – Blink Parametric has partnered with cyber risk specialist Buckler México to support the rollout of its Blink Cyber solution to Ethics Data Analytics, a leader in risk management solutions in the region. Now available within the Ethics Cyber Security portfolio, the product serves as a Data Protection solution by detecting a data breach or compromised information early and proactively alerting clients with information they need to secure their online data ahead of it being used by fraudsters or hackers. Created to enable insurance companies to offer policy-holders an add-on security feature, the Blink Parametric Cyber Solution has developed into an embedded, standalone InsurTech and Cyber product where clients can add personal information such as phone numbers, email addresses, identity numbers, documents, bank/credit card details and account numbers into its secure monitoring service. It then searches 24/7 for compromised personal data on unsecure websites as well as the dark web, alerting agencies, insurance companies or clients if the data is found to be for sale and/or in use by cyber...

0

Uncategorized

People Moves: Markel’s Colosimo Joins CRC; Risk Strategies Consulting Names Piltch

Article 0 Comments Vince Colosimo CRC Group, headquartered in Birmingham, Alabama, hired Vince Colosimo as executive vice president in the company’s New York City downtown office. Colosimo will assume the role of office president in mid-2025, with current Office President Fred Curatolo taking on a newly created role as office chairman. Before joining CRC Group, Colosimo most recently served as executive vice president at Markel; prior to that role, he served as managing director – construction practice leader. He also previously served as assistant vice president, underwriting, at Argonaut Group and in underwriting at AIG. Risk Strategies Appoints Piltch President of Consulting Risk Strategies, headquartered in Boston, named Stuart Piltch president of its Risk Strategies Consulting business segment. A 35-year consulting industry veteran, Piltch joined Risk Strategies through the 2021 acquisition of Cambridge Advisory Group, a pharmacy, actuarial and benefits consulting firm founded by Piltch in 1999. In his new role, Piltch will be responsible for the Risk Strategies Consulting business segment, including growth, strategic direction and client satisfaction. Risk Strategies is a privately held brokerage firm offering risk management advice, insurance and reinsurance placement for commercial companies, nonprofits, public entities, and individuals from more than 100 offices. Was this...

Canadians warm up to their insurance providers, but across the industry, challenges remain 0

Uncategorized

Canadians warm up to their insurance providers, but across the industry, challenges remain

Ipsos releases new insights from its twelfth CSI Insurance tracker, providing a comprehensive analysis of the Canadian insurance market Toronto, ON (Feb. 20, 2024) – The Canadian insurance industry underwent a substantial shift in its performance in 2023. Despite some regional variations, the overall sentiment of the industry reflected a significant improvement, with the likelihood to recommend scores climbing from -12 in 2022 to -8 by the end of the year. This marked upswing signals a tangible advancement in customer sentiment across the broader Canadian insurance landscape. Diving into the regional specifics, distinct differences emerge. Customers in Quebec continue to show their satisfaction with their insurance experience, making it the only region with a positive Net Promoter Score (NPS). On the contrary, British Columbia recorded a notably negative NPS, with customers there being least likely to recommend their insurance provider. Meanwhile, Ontario remained stable year over year, maintaining a negative NPS score. A closer look at the brands reveals some interesting insights. The Canadian Automobile Association (CAA) emerged as a beacon of excellence amid this vibrant tableau, boasting the highest NPS and being one of just five providers ending the year on a positive note. The year 2023 was a...

0

Uncategorized

7 Emerging Challenges for Advisors, and How Custodians Want to Help

The war for market share among advisor custodians is one of the hottest conflicts in wealth management today, with trillions of dollars at stake for all parties involved — the custodians, the advisors who rely on them to safeguard client assets, and their collective clients. But at a recent industry event, several of the biggest names in RIA custody came together to highlight the biggest issues to watch. Leaders from custody giants Charles Schwab, Fidelity and Pershing, as well as relative newcomers Goldman Sachs and Altruist, appeared on stage at the National Association of Personal Financial Advisors, or NAPFA, Large Firm Forum, which took place last week near Phoenix. “Their growth and our growth are tied together, and it felt in listening that we really are partners, despite our different set of needs,” advisor Cheryl Holland said of the custodians in an interview after the panel discussion.  Cheryl Holland (right), a CFP and founder of Abacus Planning Group, moderated the panel. Speakers included Brad Losson (left), managing director at Charles Schwab; Richard Lofgren, managing director at Goldman Sachs; Jason Wenk, founder and CEO of Altruist; Angie Popek, SVP and regional managing director at Fidelity; and Ben Harrison, managing director at BNY Mellon |Pershing....

0

Uncategorized

US Pharmacy Outage Triggered by ‘Blackcat’ Ransomware at UnitedHealth Unit: Sources

Article 0 Comments Hackers working for the ‘Blackcat’ ransomware gang are behind the outage at UnitedHealth’s technology unit that has snarled prescription deliveries for six days, two people familiar with the matter told Reuters on Monday. The problems began last week after hackers gained access to Change Healthcare’s information technology systems and has led to disruptions at pharmacies across the United States. Change Healthcare and UnitedHealth did not immediately respond to requests for comment. Blackcat, also known as “ALPHV,” did not immediately respond when asked whether it was responsible. Alphabet’s cybersecurity unit Mandiant is handling the investigation into the breach, the two people said. In a statement, Mandiant confirmed it “has been engaged in support of the incident response” but declined to comment further. Blackcat is one of the most notorious of the internet’s many ransomware gangs — groups of cybercriminals who encrypt data to hold it hostage with the aim of securing massive payouts. It has previous struck major businesses including MGM Resorts International and Caesars Entertainment. In December, Blackcat was the subject of a takedown by U.S.-led international law enforcement, which seized several websites used by the group as well as hundreds of digital keys used to decrypt...

First Acre Insurance Enhances Canadian Farmer Benefits 0

Uncategorized

First Acre Insurance Enhances Canadian Farmer Benefits

First Acre Insurance Introduces Legal and Additional Support Services for All, with Option to Include Comprehensive Legal Expense Insurance Burlington, ON (Feb. 1, 2024) – First Acre Insurance, a Managing General Agent (MGA) reshaping the agricultural insurance sector, is now providing its agricultural policyholders with access to a general Legal Helpline and Emotional Support Assistance services, with the option to include Legal Expense Insurance for unexpected legal events. The Agricultural Digital First MGA has partnered with Toronto-based ARAG Legal Solutions Inc., part of the ARAG Group, the global leader in legal expense insurance (LEI) with over 85 years of experience in and currently active in 19 countries – including Canada, the USA, and Australia. “Providing Canadian farmers with emotional support services and comprehensive legal expense insurance through our policies is a top priority,” said Robin Shufelt. “Farmers in Canada face an immense amount of pressure both personally and professionally, and having access to these services can make all the difference when navigating through diverse situations. We are committed to offering farmers solutions to help them cope with the challenges they face.” First Acre Insurance policyholders will now have unlimited access to a general legal helpline, through which they will receive...

Beazley Cyber and Lodestone Merge to Form Beazley Security 0

Uncategorized

Beazley Cyber and Lodestone Merge to Form Beazley Security

Beazley expands focus on cyber security services with creation of Beazley Security: combining its in-house Cyber Services team with Lodestone, its wholly owned cyber security firm, Beazley will focus on improving cyber resilience for clients London, UK (Feb. 21, 2024) – Beazley, the leading specialty, is pleased to announce the merger of its in-house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley Security will be led by Alton Kizziah, currently CEO of Lodestone, and he will report to Paul Bantick Beazley’s Global Head of Cyber Risks. The new company integrates the risk management services provided as part of a Beazley cyber insurance policy with Lodestone’s technical cyber security services. Beazley Security will offer integrated cyber preparedness and response capabilities and invest in new services such as a managed eXtended Detection and Response (mXDR) solution which provides round the clock monitoring, enabling rapid identification and containment of threats. Paul Bantick, Global Head of Cyber Risks, Beazley commented: “We live in an era of accelerating cyber risk and by combining these two experts in cyber security and insurance, we are creating a force capable of addressing the challenges head...