Illinois auto insurance checks will be conducted twice per year

Illinois auto insurance - person driving car

The goal is to ensure that motorists are following state laws and have the coverage they require. Electronic Illinois auto insurance checks will be starting twice per year to make sure drivers in the state are purchasing and maintaining at least the minimum required amount of coverage. The announcement regarding the checks was made last week by the Secretary of State’s Office. Starting in July, the Illinois auto insurance verifications will take place randomly throughout the year up to twice. The state will take this opportunity to help to ensure…

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UN Secretary General Guterres warns of insurance industry “race against time”

Insurance industry - climate change - time

A plea for action was made during the virtual Insurance Development forum closing remarks. In UN Secretary-General António Guterres’ closing remarks at the Insurance Development Forum held virtually earlier this week, he asserted that the insurance industry is in a “race against time” to make the adaptations necessary for adapting to the speed of climate change. As the climate continues to change rapidly, the risks are altering their shape, size, and frequency. According to Guterres, carbon neutrality worldwide must be achieved within the next thirty years, global finance needs to…

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5 Things Insurers & MGAs Should Consider When They Select A Software Solution For Their Broker Management

insurance news for broker management software

tigerlabs PaaS Insurance Solution “i2go” helps Insurers and MGAs to manage their brokers in order for them to keep track and automate processes. Meanwhile brokers can easily access to sell policies, create activities, check on their own performances, manage leads and engage with their clients. A Solution that insurance businesses and brokers will love. London, 08.06.21: In most cases, the connection between insurers and brokers is lacking because brokers often use their own broker management software which is not connected to the insurer. In this case, valued data is going…

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Embroker announces new chief insurance officer hire

Chief insurance officer - business - job

The insuretech has announced expansion to its C-suite with a new tech chief as well. Embroker, a digital business insurance platform known for simplifying the business coverage process, has announced the hiring of a new chief insurance officer and chief technology officer. This broadens its C-level management for the purpose of driving the platform forward. The new execs bring vital expertise and experience to the company as it shakes up the industry. The new chief insurance officer is taking on an insuretech providing all business insurance online. It covers startups…

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The Ardonagh Group acquires BGC insurance brokerage business for $500 million

Insurance brokerage - business aquisition

The acquisition transaction is expected to close before the end of this year. The Ardonagh Group Limited has announced that it has acquired the insurance brokerage business from BGC Partners, Inc for $500 million of cash consideration. BGC is a leading global financial technology and brokerage business. “The agreement to sell our Insurance Brokerage business for $500 million reflects the significant value we have created since entering this market in 2017. Like our previous sales of eSpeed and Trayport, as well as our IPO and tax-free spin-off of Newmark, this…

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Insurance App Development in 2021: Everything You Need To Know

Insurance App Development in 2021: Everything You Need To Know

More and more people are looking for efficient ways to get insurance services. And mobile app development is the answer to their demand. Insurance mobile apps will simplify working with insurance and help users solve existing problems even when they’re on the road.  Let’s deep dive into insurance app development and how users can benefit from it.  Issues Insurance Apps Solve What do you need insurance software applications for? It can guide users through different insurance aspects and make working with insurance more effective. Below, you’ll find significant challenges insurance…

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Insurance agents’ group files lawsuit against Allstate

Insurance agents - lawsuit - Gavel

The suit filed by the NAPAA alleges that the insurer was in breach of contract. The National Association of Professional Allstate Agents (NAPAA) representing the insurer’s insurance agents, alleges that the company was in breach of contract. The NAPAA filed the lawsuit in the US District Court, Northern District of Illinois on May 18, 2021. With the lawsuit, the insurance agents seek injunctive relief, declaratory relief, and monetary damages. This civil action is based on eleven counts of breach of contract. The NAPAA and a number of former agents who…

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