Business News

May 16, 2016
Liberty Mutual Launches SmartVideo Program to Better Communicate With Workers’ Comp Claimants

To help aid communications with injured workers, produce better outcomes and deliver superior customer service, Boston-based Liberty Mutual has introduced smart video technology that automatically delivers a personalized online video to workers’ compensation claimants summarizing key claims information and providing links to helpful tools and resources.

Claimants of Liberty Mutual Insurance and its wholly-owned third party administrator, Helmsman Management Services, who meet certain criteria will now receive a two-minute online video at the time of the first indemnity payment.

The SmartVideo video can be seen by injured workers on laptops, smartphones and tablets.

The tool was developed by Liberty Mutual’s Commercial Insurance Claims Innovations team, which develops original solutions to key claims issues, allowing the insurer to provide top tier customer service.

An example of the SmartVideo can be seen at https://business.libertymutualgroup.com/WC_smartvideo.

Great American Insurance Group Establishes Specialty Property & Casualty Business in Mexico

Great American Insurance Group announced that the Mexican Insurance Commission has granted formal approval to extend the license of its local company, El Águila Compañía de Seguros, S.A. de C.V., (El Aguila) to establish a specialty property & casualty (P&C) operation in Mexico.

Ydhelio Espinosa, a well-known executive with 30 years of experience in the insurance industry, has been appointed as the divisional president of the new operation. Espinosa will lead a team of insurance professionals with proven results and a solid reputation in the local market.

Great American Insurance Group, through its member company, El Aguila, has been operating in Mexico since 1994 as a specialized insurer in the automobile market. The new P&C division will bolster the company’s strategy in delivering insurance solutions that meet the needs of the P&C commercial insurance market for small and medium-size enterprises and corporate risks.

With the expansion of El Aguila’s license, the new division will focus on providing specialty insurance solutions offering a commercial package policy and selected monoline products through a network of independent agents and brokers. It plans to begin underwriting risks effective July 1, 2016.

Marsh’s Torrent Technologies Launches Private Flood Coverage for Residential, Small Commercial Property Owners

Torrent Technologies, Inc., a Marsh company, in coordination with Torrent’s Write-Your-Own (WYO) carriers participating in the National Flood Insurance Program (NFIP), announced the availability of a new, automated private market primary flood insurance solution designed to be a cost-effective alternative to the NFIP.

Underwritten by the Lloyd’s of London coverholder DUAL Commercial LLC, the Torrent/DUAL Private Flood solution comprises three separate primary flood policy options that mirror NFIP coverage features with up to $2 million in limits for residential and small commercial property owners available. Limits are written on a per risk basis and can cover damage to buildings and contents. Other options include coverage for condominiums, additional living expenses, increased cost of compliance (ICC), loss avoidance, and golf carts.

Torrent’s new primary flood solution comes on the heels of the launch of Torrent/DUAL Excess Flood, which provides up to $15 million in excess insurance protection for residential and commercial property owners and up to $20 million in coverage for condominium owners. The excess flood policy can sit above Torrent/DUAL Private Flood or NFIP Flood policy limits.

Like the Excess Flood and NFIP Flood policies, the Torrent/DUAL Private Flood solution is offered via Torrent’s state-of-the-art technology platform, allowing insurance agents to quote, bind and issue policies in real time. Torrent offers an integrated platform where agents can easily quote NFIP, private primary and private excess flood policies with a single entry system.

Torrent/DUAL Private Flood coverage is available in all 50 states on a surplus lines basis.

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