Business News and Mergers News

Business News: Progressive, Hiscox, Berkley Aspire

Progressive Announces New Flo Chatbot Progressive Insurance announced a new Flo Chatbot experience on Facebook Messenger. The tool, enhanced by artificial intelligence and quoting technology, is now available for all Messenger users via Flo, the Progressive Girl’s Facebook page. The …

Business News: IBM, Med-IQ, Octo Telematics

IBM Introduces Industry Platform Designed Specifically for Insurers IBM announced it is building an insurance platform on the IBM Cloud that aims to improve the processes and economics for new product development, underwriting and benefits delivery. Built in collaboration with …

P/C Insurer Software Provider Guidewire to Acquire Data Science Firm Cyence

Guidewire Software Inc., a provider of core operations software to property/casualty insurers, has agreed to acquire Cyence, a data science and risk analytics software company. Guidewire will pay approximately $275 million in cash and stock. Cyence applies data science and …

Business News: Berkley Re Solutions, Roost, Pie

Berkley Re Direct Renamed Berkley Re Solutions Berkley Re Direct announced today that it has changed its name to Berkley Re Solutions. On the evolution of the operating unit’s name. The culture at Berkley Re Solutions encourages all employees to …

Business News: AIG, Allianz, Aon

AIG Announces Changes to its Organizational Structure American International Group, Inc. announced it’s plan to make changes to its organizational structure. The company will no longer have Commercial and Consumer segments, and will transition to: General Insurance, led by Peter …

Business News: State Auto, Aon, Travelers

State Auto Insurance Group Announces Review of Strategic Alternatives for Its E&S Business The State Auto Insurance Group (State Auto) announced it is undertaking a review of strategic alternatives for its Excess and Surplus (E&S) Lines business, including a possible …

Business News: KCC, Betterview, Coverys

KCC Releases RiskInsight-lite Live Cat Model Catastrophe modeling firm Karen Clark & Company (KCC) announced the release of RiskInsight-lite, a new modeling platform that enables (re)insurers to track their claims and losses in real time from live hurricanes as well …

Business News: Rockford Systems, Genex, NORCAL

Rockford Systems, The Master Lock Company Form Strategic Partnership to Accelerate Safety Adoption in Manufacturing Facilities Rockford Systems LLC and The Master Lock Company announced a new joint initiative designed to accelerate the adoption of safety technologies throughout the North …

Business News: Grange Insurance, CNA/Aon Affinity Partnership, Verisk

Grange Insurance Introduces 36-Month Policy Option for Businesses Ohio-based Grange Insurance launched a new 36-month commercial insurance package policy. The 36-month package policy gives commercial policyholders that qualify the opportunity to have consistent, stable rates, terms and conditions for 36 …

Business News: LexisNexis, NCCI, Verisk

LexisNexis Introduces New Multi-language Telematics Capability Atlanta-based Lexis Nexis Risk Solutions now includes multi-language capability in its telematics platform. This development can improve speed to market in each territory while providing the benefits of a consistent platform across different geographical …