Zurich expands U.S. middle market; QBE, InnSure, Salem partner on flood pilot: Insurtech news

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Zurich expands U.S. middle market

Zurich North America is expanding its U.S. middle market business, which provides property, casualty, financial lines and specialties coverages for the industry specific needs of midsize businesses. The company plans to hire over 100 people for underwriting roles focused on the segment. 

John Mizzi, COO for U.S. Middle Market at Zurich, said in a statement: "In a time of rapid team growth, we want to ensure our new joiners are set up for success. We recently created a new role, head of onboarding & development, to provide comprehensive training and a supportive environment. We also are creating cohorts of new joiners who start at the same time so they have a strong internal network from day one."

Lisa Diers, who was most recently Zurich's middle market head of underwriting quality and compliance, has been selected as head of onboarding & development for middle market.

Aflac launches individual accident insurance

Aflac announced the launch of its individual Aflac Accident Insurance product. The plan is available in 32 states and gives policyholders cash benefits after a covered accident.

Aflac senior vice president, chief actuary Tom Morey, said in a statement: "Accidents happen, and when they do, Aflac can assist in easing the financial pain by helping to mitigate the costs associated with unanticipated medical bills and more. We want policyholders to make a full recovery, which means providing innovative benefits to help them deal with the physical, mental and emotional challenges they may face following an accident. Consumers are seeking a more holistic, simpler approach to their health care and health insurance, which is why we believe that the Aflac Accident Insurance plan will generate a great deal of interest with our current and future policyholders."

QBE Foundation funds InnSure Home Resilience Audit Pilot Program

The QBE North America Foundation has partnered with Innsure, a nonprofit focused on insurance and climate risk innovation, and the City of Salem, Massachusetts on a flood risk pilot program. The partnership is aimed at evaluating factors that lower flood risks and increase resilience community-wide. The pilot program began Feb. 11. Salem will develop a home flood resilience assessment program as part of this partnership, to be rolled out this year. 

Charlie Sidoti, executive director, InnSure, said in a statement: "As climate change accelerates extreme weather patterns and the natural catastrophe insurance protection gap in the United States grows, it's critical to reward community and government mitigation efforts and integrate insurance solutions early in the planning process. This collaboration with the City of Salem is a promising opportunity to test new insurance models at the community level, and we're excited to partner with the QBE Foundation and local leaders on this initiative."

Aon announces co-broking agreement with Protecdiv

Aon announced a co-broking agreement with Protecdiv, a small-business reinsurance brokerage focused on public entity, specialty and multi-national clients in P&C, mortgage and credit risk transfer spaces. The firms will work together on commercial and reinsurance solutions to target market needs in the private and public sectors.

Lori Goltermann, CEO of global regions and North America at Aon, said in a statement, "Aon is committed to making investments to increase our capabilities on behalf of the needs of our clients. We are pleased to collaborate with Protecdiv as we continue to deliver on a shared commitment to supplier diversity, innovation and impact, and shape better business decisions for all clients."

Sapiens releases automated AI underwriting platform for life and annuities insurers

Sapiens announced the launch of Sapiens UnderwritingPro v14, an advanced version of automated underwriting and new business case management system for life and annuities insurers. The technological enhancements of this launch include greater operational efficiencies, streamlined communication and AI-driven capabilities designed to address the needs of insurers.

"Our new version of UnderwritingPro reflects Sapiens' strategic commitment to innovation and continuous development driven by industry trends, and input from our user community," said Roni Al-Dor, Sapiens president and CEO, in the press release. "This latest release takes automated underwriting to the next level by integrating AI and provides tools that empower insurers to deliver faster, smarter, and more accurate underwriting decisions." 

Duck Creek adds Safepoint to its OnDemand policy and billing service

Safepoint Holdings, owner of three platforms serving over 200,000 property and casualty policyholders in Florida, Louisiana, Texas and the Gulf, has gone live on Duck Creek Technologies' OnDemand service.

Using the service, Safepoint customers can access policy and billing capabilities to streamline operations and automate processes. The addition of Duck Creek supports Safepoint's expansion goals and commitment to providing independent agents with robust tools, the companies said in a press release. 

Duck Creek worked with Aggne, a delivery partner, to implement OnDemand for Safepoint.