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Stellantis Financial Services US Launches Embedded Insurance Program With bolt to Expand Customer Choice 0

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Stellantis Financial Services US Launches Embedded Insurance Program With bolt to Expand Customer Choice

A New Milestone for Stellantis Insurance: Partnership across six iconic brands – Chrysler, Dodge, Jeep®, Ram, Fiat, and Alfa Romeo – will enable more customer purchasing options through tailored insurance products San Francisco, CA (June 18, 2024) – Stellantis Financial Services US, the captive automotive finance company of Stellantis in North America, today announced a new partnership with bolt, the insurtech with the world’s largest technology-enabled insurance exchange, to support customers of Chrysler, Dodge, Jeep®, Ram, Fiat, and Alfa Romeo. bolt’s technology will enable Stellantis customers to purchase auto insurance through Stellantis brand websites and mobile apps with a panel of insurers’ products. Through this unique partnership, the automotive insurance purchasing journey will be simplified and personalized, with custom coverage options available through multiple distribution channels. The offering will scale to include usage-based choices through the use of telematics, data and analytics. “Stellantis customers today want choice, context, and simplicity when selecting their auto insurer,” said Mark Buffa, Managing Director of Insurance at Stellantis Financial Services US. “It’s important that insurance offerings keep up with customer demands. Partnering with bolt and their established insurer partners, we’re confident that customers and their vehicles will be better protected.” “We are thrilled with...

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Heat Wave Sweeps Across Midwest and Northeast, Bringing Safety Measures

Article 0 Comments TOLEDO, Ohio (AP) — Stifling heat blanketed tens of millions across United States on Tuesday, forcing people and even zoo animals to find ways to cool down as summer arrives in what promises to be a sweltering week. Extreme heat alerts stretched from Iowa to Ohio and even into the upper reaches of Michigan on Tuesday, canceling youth sports camps, nature walks and festivals across the region. The National Weather Service said the dangerous heat wave was expected to make its way across the country and into Maine until at least Friday. An organization that provides produce to areas with limited access to fresh foods in Columbus, Ohio, prepared frozen towels for their workers in case of overheating and packed cold water to stay hydrated. “Hydration is the key,” said Monique McCoy, market manager for the Local Matters Veggie Van. In Toledo, Ohio, the city canceled a weekly fitness event and a neighboring suburb called off a street fair as temperatures reached the mid-90s. A food bank in upstate New York canceled deliveries for Wednesday out of concern for its staff and volunteers. Schools in New York canceled field trips Tuesday to the Rosamond Gifford Zoo in...

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Zurich Completes Acquisition of 70% Stake in India’s Kotak General Insurance

Article 0 Comments Zurich Insurance Company Ltd. has completed the acquisition of a 70% stake in Kotak Mahindra General Insurance Co. Ltd. for US$670 million – marking the largest foreign investment in India’s general insurance market. “The transaction marks the largest foreign investment in India’s general insurance market and is the first by a foreign insurer since the foreign direct investment (FDI) limit was raised from 49% to 74% in 2021,” Zurich said in a statement. The purchase of Kotak General Insurance from Kotak Mahindra Bank Ltd. was completed with a combination of fresh growth capital and share purchase, the insurer said, noting that the business eventually will adopt a new brand that represents both Zurich and Kotak as shareholders. India’s general (property/casualty) insurance market “is poised for substantial growth, driven by greater consumer awareness of the benefits of insurance, continued development of digital and financial infrastructure, and a large and growing middle class,” Zurich added. “The strong growth in India’s SME and corporate sectors will see demand for commercial insurance solutions.” “The acquisition of Kotak General Insurance sets the way forward for Zurich to be a leading player in a very significant growth market – India. This is a...

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We Have Regulators Too, Bermuda’s Insurers Say

Some policymakers have asked whether it’s possible that life and annuity business based in Bermuda could be riskier than business written by or reinsured by companies with official “domiciles,” or homes, in the United States. The paper: The European Union has recognized the BMA’s regulations and oversight efforts as being equivalent to the European Solvency II system, and the National Association of Insurance Commissioners has recognized Bermuda as a qualified jurisdiction and a reciprocal jurisdiction, BILTIR says in the new paper. In the past, some observers outside Bermuda complained that Bermuda had no corporate income tax. Now, BILTIR says, Bermuda has a 15% corporate income tax rate that’s set to take effect in 2025. “At 15%, the rate meets international expectations while remaining competitive,” BILTIR says. BILTIR members have about $1 trillion in total assets, and assets exceed liabilities by $231 billion, BILTIR reports. Hamilton, Bermuda. Credit: Andrew F. Kazmierski/Shutterstock

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Iowa Nurse Charged With Insurance Fraud

Article 0 Comments An Iowa woman was charged with one count of Insurance Fraud – Presenting False Information (Class D Felony), following an investigation by the Iowa Insurance Division’s Fraud Bureau. Amanda Manatt, age 35, of Marshalltown allegedly falsified patient records while working as a registered nurse at a hospital. Manatt caused the submission of an insurance claim to an insurer for medical services that were not provided. The charges against Manatt stem from an investigation that began in April of 2024. Manatt was arrested on May 31, 2024 and transported to the Marshalltown Police Department. Manatt posted a $5,000 bond and was released. Iowans with information about insurance fraud are encouraged to contact the Iowa Insurance Division’s Fraud Bureau at 515-654-6556. Topics Fraud Iowa Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. Interested in Fraud? Get automatic alerts for this topic.

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Ken Fisher’s Fortune to More Than Double on Private Equity Sale

Among the investors in Advent vehicles are Mousse Partners, the family office of brothers Alain and Gerard Wertheimer, who own luxury brand Chanel. A native of San Francisco, Fisher was trained in the markets and investing by his father, Philip, a well-known money manager and author and proponent of growth investing. Ken started his namesake advisory in 1979. He published his first book, Super Stocks, and began writing a column for Forbes five years later. Fisher, who relocated his firm from California to Washington state in the mid 2010s seeking a friendlier business climate, moved headquarters again last year, this time to a suburb of Dallas. The move was prompted by a Washington Supreme Court ruling that the state’s plan to implement a 7% capital gains tax on its wealthiest citizens was constitutional. Fisher announced the move with a sarcastic statement blaming the court’s “wisdom and knowledge of the law” for the company’s decision. Ken Fisher. Credit: Bloomberg Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Crawford Technologies Partners with Docuvela On CCM Cloud Solution 0

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Crawford Technologies Partners with Docuvela On CCM Cloud Solution

Crawford Technologies Partners with Docuvela to Support the Storage and Management of Customer Communications in a Native Cloud-based Solution Toronto, ON (June 12, 2024) – Crawford Technologies, a provider of innovative document solutions that streamline, improve and manage customer communications, is pleased to announce it has entered a strategic partnership with Docuvela, an emerging innovator of cloud-based document management and content services. Crawford Technologies has partnered with Docuvela because of the company’s modern approach to storing data and content that simplifies integrations with line of business applications, AI tools and other modern technologies. Docuvela will benefit with the ability to integrate Crawford Technologies’ full suite of customer communications management solutions into its current offerings delivered via a comprehensive, innovative cloud-based solution. The partnership is integral to Crawford Technologies’ ongoing commitment to developing innovative technology solutions that address the document management challenges businesses are facing today. As organizations struggle to maintain control of their on-premise legacy systems and associated costs, having the ability to move data to a secure native cloud-based location, coupled with the ability to optimize and manage documents, allows them to regain ownership of their content and reduce the complexities and cost of managing siloed systems. “Many organizations...

Trufla and SEH Computer Systems Inc. Partner to Enhance Digital Distribution of Insurance Products 0

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Trufla and SEH Computer Systems Inc. Partner to Enhance Digital Distribution of Insurance Products

Calgary, AB (Jun. 12, 2024) – Trufla, one of Canada’s top broker technology providers, is proud to announce a transformative partnership with SEH Computer Systems Inc., a specialist in tailored software solutions for the property and casualty insurance sector. This alliance leverages SEH’s Titan system, and Trufla’s innovative truMarket platform. Together, they will enhance the digital distribution of insurance products, streamline operations and improve access for brokers and agents. By integrating Trufla’s truMarket platform with SEH’s system, this alliance will transform the way insurance products are accessed and delivered, enabling a faster, more streamlined digital distribution process. This integration is set to empower brokers and agents with real-time access to insurance products and rates, facilitating better service to end consumers. Sherif Gemayel, Trufla’s CEO, highlighted the importance of this partnership, stating, “Combining our truMarket product distribution technology with SEH Computer Systems, we are set to revolutionize the distribution landscape, providing brokers and agents with tools they need to succeed in today’s digital-first environment.” Mark Ross, CEO of SEH Computer Systems added “We are excited to be partnering with Trufla to address the long-standing challenges of fully integrating the experience between brokers, agents and carriers.” This partnership brings mutual carriers onto...

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SEC’s Crypto Enforcement Chief Steps Down

David Hirsch, the Securities and Exchange Commission’s head of crypto enforcement, has stepped down after nearly nine years at the agency. “During that time I had the opportunity to work on more complex, challenging investigations and issues than I ever imagined when I joined the agency as a staff attorney in the Fort Worth Regional Office,” he said early Monday morning in a LinkedIn post. ”I’m particularly proud of the historic work done by the Crypto Assets and Cyber Unit team I had the privilege to lead.” While not disclosing his next move, Hirsch said on LinkedIn that he was “very excited for the next set of challenges. I look forward to sharing more about that soon, but for now I’m excited for a break and travel with my family before my son heads to college in the fall.”

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Severe Storms Caused $722M in Catastrophe Losses in May: Progressive

Article 0 Comments Progressive on Friday said severe storms mostly in Texas and the Midwest caused about $722 million in net catastrophe losses to the insurer. In its monthly announcement of financial results on Friday, the Mayfield Village, Ohio-based insurer said the storm losses added 12.3 loss ratio points to a May combined ratio of 100.4. Year-to-date, the company’s combined ratio is 89.7 Progressive’s property business booked a May combined ratio of 282.8. The insurer said it recorded a reinsurance recoverable of $95.1 million, including losses and allocated loss adjustment expenses, under its per occurrence reinsurance contracts, which have a retention threshold of $200 million. Progressive added that it was close to reaching the annual retention thresholds under 2024 catastrophe aggregate excess of loss contracts as of May 31. Once exceeded, Progressive said it has reinsurance coverage up to $85 million for non-named storm property catastrophe losses. Progressive said May net income was $235.7 million. The company has booked about $3 billion in net income for the year as of May 31. Related: Global Insured Natural Disaster Claims Again Dominated by Severe US Storms: Gallagher Topics Catastrophe Profit Loss Windstorm Was this article valuable? Thank you! Please tell us what...