agents and brokers News

Insurtech 1Fort Raises $7.5M to Support AI Binding Tech for Brokers

1Fort, the AI platform for business insurance, announced it raised $7.5 million in an oversubscribed funding round led by Bonfire Ventures. The round also included Draper Associates (Tim Draper); Karim Atiyeh, the founder of Ramp; and participation from all existing …

Viewpoint: Steady Growth Amid Market Cycles Is Possible

Property and casualty insurance has traditionally been a cyclical industry, meaning it goes through phases of firm pricing and tight capacity followed by softer market conditions that tend to favor insurance buyers. The ups and downs of insurance cycles complicate …

Viewpoint: Innovation Enhances Brokers’ Growth and Profits

Boosting growth and profitability is a goal for all U.S. insurance agents and brokers, but until recently that has been easier to assert than to achieve consistently. Booking organic growth is difficult, even for firms with strong sales cultures, and …

The Hartford Launches Digital Submission Capabilities for Midsize And Large Accounts

The Hartford said it expanded its digital capabilities with new submission and quote Application Programming Interfaces (APIs), and portal options for agents and brokers who write midsize and large businesses. The new capabilities save time, provide faster turnaround, and increase …

Citizens Seeks Florida Agents’ Help Fighting Water Claims Abuse

As the Florida property market fights what has so far been a losing battle against attorneys and unlicensed contractor firms over water loss claims and assignment of benefits (AOB), Citizens Property Insurance Corp., Florida’s property insurer of last resort, has …

Independent Agents Identify Business Opportunities for Carriers: Survey

Most independent insurance agents are impressed by the carriers they place business with – but most also are interested in adding new company partners. This is one of the preliminary findings of a recent national survey of independent agents conducted …

Getting a Grip on Ridesharing Coverage

Ridesharing services are becoming increasingly popular among consumers looking for a more convenient alternative to taxis or other forms of public transportation, and new ridesharing companies have been cropping up everywhere trying to ride the success of the three major …

Washington Commissioner Fines Producers More Than $24,000

Insurance Commissioner Mike Kreidler in March disciplined and issued fines totaling $24,250 against insurance companies, agents and brokers who violated state insurance regulations. Insurance companies Unitrin Auto and Home Insurance Co., Jacksonville, Fla.; fined $20,000 Unitrin issued insurance policies using …

Q2 Revenue Growth Strong for Mid-Size, Large Privately-Held Agencies: Survey

Median organic revenue growth reached 6.9 percent in the 2013 second quarter for mid-size and large privately held insurance agencies and brokerage firms, according to a survey by Reagan Consulting, a management consulting firm for the independent insurance distribution system. …