Articles by Mark Hollmer

AI-Driven MGA Clearcover Raises $43 Million; American Family Among Backers

American Family Insurance joined a new $43 million financing round for Clearcover, a managing general agent with an artificial intelligence-driven platform focused on car insurance. The Chicago-based insurtech startup said its Series B financing was led by Cox Enterprises. American …

Report Identifies P/C Insurance Companies with Best Reputations

USAA Insurance has the highest and best overall reputation among insurers, according to a new report from the Reputation Institute. The insurer landed in the top spot based on criteria including strong reputation, relevancy, expressiveness (brand strength, informativeness, relevancy), products …

States Urge Insurers to ‘Spread the Word’ on Flood Insurance to Boost Sales

It might be time for carriers and agents to encourage their clients to buy flood coverage even if they’re not living and working inside a flood zone. Such an action is long overdue, according to insurance commissioners from Florida, South …

Chubb CEO Says Lloyd’s Hasn’t Adapted to Changed World

Chubb President and CEO Evan Greenberg offered positive words about new Lloyd’s of London CEO John Neal, though he cautioned that the venerable insurance marketplace has a long way to go to address “long-term structural issues.” What’s more, Greenberg added, …

Google ‘Definitely’ Interested in Other Insurtech Investments Following Applied Systems

Google is eager to invest in other insurance technology companies well beyond its newly announced minority stake in Applied Systems, a principal investor with the global search engine giant said on Oct. 17. “We really like the market,” said Jesse …

Google Invests in Insurance Agency Software Firm Applied Systems

Giant Google’s investment arm has purchased a minority stake in Applied Systems, a provider of insurance technology and cloud-based software for independent agencies. The investment in Applied Systems is being made through CapitalG, the growth equity investment fund of Google’s …

Berlin Insurtech Startup Simplesurance Sets Sights on U.S. for Future Expansion

Simplesurance founder and CEO Robin von Hein sat down last year with Insurance Journal’s sister publication, Carrier Management, to discuss the company’s strategy. Based on the edge of Berlin’s trendy Mitte district in bright, open offices, Simplesurance is yet another …

RenaissanceRe Non-Committal About Shareholder’s Call to Consider Possible Sale

A ReinaissanceRe shareholder’s call for the company to explore a possible sale is drawing a non-committal response from management. TimesSquare Capital Management, an institutional management firm and RenaissanceRe investor since 2008, wrote RenaissanceRe CEO Kevin O’Donnell on Sept. 7 with …

Insurers Tell Congress Trump Tariffs Harm Insurance Consumers

As the Trump Administration continues to slap tariffs onto various consumer products, property/casualty insurers are increasingly concerned how some of these actions will affect the cost of auto and home insurance. Auto parts tariffs have drawn the most industry attention. …

Hanover Insurance May Follow Chaucer Sale with Talent Hiring, Acquisition

The Hanover Insurance Group could use some of the $950 million it will make from selling its Chaucer international specialty business to fuel organic growth, pursue select acquisitions and hire top talent from rivals, President and CEO John Roche told …