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Metromile Launches Ride Along to Demystify Pay-Per-Mile Car Insurance

October 14, 2020

Drivers can understand if their driving can result in a lower car insurance rate before they sign up with Ride Along from Metromile. (Business Wire: Graphic)

SAN FRANCISCO–(BUSINESS WIRE)–Oct 14, 2020–

Metromile, the leading pay-per-mile car insurance company in the U.S., today announced the launch of Ride Along, a free new way for drivers to understand if their driving can result in a lower car insurance rate before they sign up. More than 124 million Americans could be overpaying for car insurance, missing out on as much as $947 a year in savings because they do not pay per mile, according to a recent survey of new customers who saved with Metromile.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201014005336/en/

Drivers

Tangram Insurance Services and Markel Announce Partnership to Provide Excess Liability Capacity For Tangram’s Propane & Fuel Program

October 14, 2020

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PETALUMA, Calif., Oct. 14, 2020 /PRNewswire/ — Tangram Insurance Services, Inc. (“Tangram”), a Managing General Agency, and Markel Corporation on behalf of its affiliated insurance companies (“Markel”) today announces the launch of a program to provide excess liability above Tangram’s current program in propane and fuel distribution niche.

Tangram’s program provides comprehensive insurance solutions for dealers and distributors of fuel oil, propane, diesel and gasoline. The additional excess liability capacity that Markel provides will make Tangram a one stop shop for this niche. With the additional capacity, Tangram’s program now has the ability to provide General Liability, Property, Commercial Auto, Workers’ Compensation, Environmental Liability and Excess Liability cover up to $15 million.

“Our downstream energy program is our fastest growing niche. Tangram’s focus for the past 5 years has been to provide our specialty brokers with meaningful coverage and services from a single source. With the addition of

Strong Brands the Likely Winners of UK Insurance Pricing Review

October 14, 2020

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UK personal lines insurers will need to adjust their pricing models in response to the Financial Conduct Authority’s proposed remedies surrounding the pricing of policies for renewing customers, according to a new AM Best commentary.

The Best’s Commentary, “Strong Brands the Likely Winners of UK Insurance Pricing Review,” states that as insurers will need to increase the prices applied to new business to offset the impact of lower renewal premium on earnings, other aspects of their business profile will likely play an increasing role in the decision-making process of potential and established customers.

This suggests that brands currently enjoying high levels of recognition and customer satisfaction will be best positioned to take advantage as policyholders begin to take more notice of a company’s customer service levels, the experiences of other policyholders (expressed via online channels), and metrics such as claims approval ratios.

To access a complimentary copy of this

Vast Majority of Americans Say Protecting Their Loved Ones Financially is Important Right Now, But Less Than Half Have Life Insurance

October 14, 2020

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Global Atlantic Study Highlights Shifting Financial Priorities and the Need for Planning Amid Pandemic

New research from Global Atlantic Financial Group found that more than eight out of ten Americans (83%) say making sure their loved ones are financially protected is important to them right now, yet two in five (43%) have no life insurance and only one third (33%) believe they have enough life insurance or other assets to protect their family in the event of their own death.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201014005264/en/

(Photo: Business Wire)

The “Perceptions of Life Insurance During a Pandemic” study was conducted in August by Artemis Strategy Group on behalf of Global Atlantic, among 1,065 American adults to examine their views on life insurance, estate planning and shifting financial priorities.

Aside from contracting Covid-19 personally or having a family member or close friend contract the virus, the

Americans are ‘panic buying’ life insurance due to coronavirus pandemic

October 14, 2020

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Many firms have noted double-digit increases in the number of life insurance policies they’ve sold during the Covid-19 pandemic relative to last year.
The increase is largely due to a fear of death and greater awareness of financial risks associated with mortality, experts said.
Insurance sales have been dwindling for years. In 2020, just over half of American adults reported having a life insurance policy, down from 63% a decade earlier.

Life insurance is enjoying something of a renaissance as a result of the coronavirus pandemic.

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Consumers, especially younger adults, have been buying insurance in elevated numbers since the spring, when thousands of Americans began getting ill and dying from Covid-19.

That result is logical, experts said, given the core use of life insurance: as a financial backstop in the event of death.

More from Smart Tax Planning:

12 million people asked the IRS

Life insurance sales increase due to coronavirus pandemic

October 14, 2020

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shapecharge | E+ | Getty Images

Life insurance is enjoying something of a renaissance as a result of the coronavirus pandemic.

Consumers, especially younger adults, have been buying insurance in elevated numbers since the spring, when thousands of Americans began getting ill and dying from Covid-19.

That result is logical, experts said, given the core use of life insurance: as a financial backstop in the event of death.

More from Smart Tax Planning:
12 million people asked the IRS for more time to file
Got a subsidy to buy health insurance? It could bite you at tax time
Closing a business? Avoid these tax surprises

For example, what if the breadwinner of a family dies unexpectedly from Covid-19? Insurance is meant to plug that immediate gap in household income.

“It’s forced the idea of financial protection and mortality to the top of mind for consumers in a way very few

Economical Insurance Selects Docebo to Transform the Learning Experience for Employees and Brokers

October 14, 2020

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Economical Insurance has selected Docebo (TSX: DCBO), a leading artificial intelligence (AI)-powered learning platform, to enhance and personalize learning experiences for employees and broker partners. Docebo was chosen to help Economical modernize traditional insurance company training through cutting-edge learning experience technology.

Economical Insurance is a rapidly evolving Canadian insurer. After nearly 150 years in business, they are now on the path to becoming a public company. Docebo offers Economical a modern, learner-centric platform to support their rapid growth and learning culture. Economical Insurance has been transforming its business model to keep pace with evolving customer expectations.

“This is such a dynamic time for Economical on so many fronts, and our ability to attract and develop some of the best talent in our industry is a top priority,” said Brigid Pelino, SVP and Chief Human Resources Officer, Economical Insurance. “With Docebo, we continue our focus on operational efficiency knowing that our

Dovel Subsidiary, AceInfo, Awarded USDA Crop Insurance Software Delivery Support Services Task Order

October 14, 2020

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MCLEAN, Va., Oct. 14, 2020 /PRNewswire/ — Dovel Technologies announced today that Ace Info Solutions, LLC (AceInfo) has been awarded a Task Order from the U.S. Department of Agriculture (USDA), Farm Production and Conservation (FPAC) Risk Management Agency (RMA) for Crop Insurance Software Development Delivery Services. The RMA’s mission is to serve America’s agricultural producers through effective, market-based risk management tools and solutions to strengthen the economic stability of agricultural producers and rural communities. In 2019, RMA managed nearly $115 billion worth of insurance liability.

The USDA Crop Insurance Software Delivery Support Services task order, awarded through the USDA FS DAITSS BPA contract vehicle, has a base year plus three option years and an estimated value of $59M. Under this Task Order, AceInfo will provide a full range of software development services to support the development and delivery of new crop insurance products, sustain and modernize current

Intact introduces North American specialty insurance brand

October 14, 2020

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TORONTO, Oct. 14, 2020 /PRNewswire/ — Intact Financial Corporation (TSX: IFC) officially brings together its Canadian and U.S. specialty capabilities under a single brand: Intact Insurance Specialty Solutions. Unifying its specialty operations under one brand represents the full integration of this growing segment of Intact’s portfolio and its commitment to being a leader in the specialty lines marketplace.

“Our commitment to building a world-class specialty insurance provider takes an important step forward today as we bring the Intact brand to the U.S.,” said Charles Brindamour, Chief Executive Officer, Intact Financial Corporation. “We see strong future growth potential in our specialty lines business given our team’s expertise and our robust solutions for Canadian, cross-border and U.S. customers and brokers.”

The U.S. businesses had previously operated under the OneBeacon Insurance Group and The Guarantee Company of North America brands in the U.S., following the 2017 and 2019 acquisitions of these

Pie Insurance Sees Record Growth and Surpasses $100M in Premium

October 14, 2020

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DENVER, Oct. 14, 2020 /PRNewswire/ — Pie Insurance, an insurtech specializing in workers’ comp insurance for small businesses, today announced it has exceeded $100 million in cumulative written premium and surpassed $100 million in annualized run rate premium. In less than 3.5 years since being founded, Pie Insurance has cemented its spot as the fastest insurtech company to hit these milestones. This monumental growth is evidence that small businesses, and the insurance agents who serve them, are ready to adopt a modern and automated insurance experience.

“Commercial insurance in the United States generates $300 billion in annual premiums. However, the industry operates in an almost entirely analog environment,” commented Dax Craig, Co-Founder and President of Pie Insurance. “Pie leverages technology to modernize the entire insurance experience for small businesses, and our rapid growth is a testament to the huge unmet need in the market.”

Today’s milestones follow Pie’s