Business Moves: Xceedance, Verisk, Allstate, Say, NORCAL Mutual

Xceedance Establishes London Office

Xceedance, a global provider of property/casualty insurance technology, analytics and consulting services, has established an office in London to serve the European, Middle East and Africa (EMEA) market, according to a company announcement.

Xceedance is a managed services company that partners with insurers, MGA/MGUs, reinsurers and brokers by providing them with analytics, technology and process engineering solutions to enrich their workflows, processes and strategic programs. Through the London office, Xceedance can deliver a comprehensive range of strategic and transformational services, enabling insurers to improve loss ratios, accelerate and increase profitability, gain real-time access to actionable business insights, and drive improved operational and financial performance.

Justin Davies, a veteran of the London insurance market, will lead the newest international Xceedance office and act as head of the EMEA region.

Davies has 25 years of experience in insurance and financial services, with a background in exposure management, catastrophe modelling, spatial analytics and geocoding. He joined Xceedance from Xuber where he was director of the Xposure business unit. Prior to Xuber, Davies spent more than five years at EQECAT, leading client facing strategy for the UK and Asia Pacific. He was also at Pitney Bowes for three years where he managed the UK and Ireland financial services sales team for spatial analytics product lines.

The EMEA Xceedance office is located at Bury Court, 6 Bevis Marks, London, EC3A 7BA.

Verisk Analytics Acquires Analyze Re

Verisk Analytics, Inc., a N.J.-based data analytics provider, announced it has acquired Analyze Re, a software analytics provider for the reinsurance and insurance industries. Analyze Re will become part of AIR Worldwide (AIR), a Verisk Analytics business, and will enable AIR to provide its clients with additional real-time pricing, exposure management and enterprise portfolio roll-up capabilities.

Allstate Announces New, Instant Claims Payment Method

A debit card and e-mail address is all that’s needed now for Allstate to pay claims in an instant. QuickCard Pay is the latest and fastest payment method in the Allstate ExpressPay network. Working with Mastercard to leverage its Mastercard Send platform, Allstate becomes the first U.S. Property & Casualty company to use the first-of-its-kind service.

Allstate QuickCard Pay can reach virtually all U.S. debit card accounts – including non-Mastercard debit cards.

New Auto Insurer Launches in Greater Chicago Area

Millions of Chicago residents have auto insurance, but 55 percent don’t know they have an insurance score, much less that their auto insurance rates are most likely affected by that score.

Say Insurance, an emerging online auto insurance provider and a division of Shelter General Insurance Company, launched throughout the Chicago metro area, offering an alternative, more transparent way of dealing with insurance and the rate process. Insurance companies calculate and utilize the score in different ways, but it’s rarely discussed or available to customers.

Say Insurance discloses the score once you quote and makes it easy to understand how the score impacts its competitively-priced premiums. At sayinsurance.com, Chicago metro residents can easily get their free insurance score and premium quote—without providing a vehicle VIN number or registering with a password.

As part of a bigger package, Say Insurance quote and premium rates are calculated by evaluating:

• The insurance score from LexisNexis.
• A motor vehicle report.
• A Comprehensive Loss Underwriting Exchange (CLUE) report to claims submitted.
• A personal risk profile based on specific characteristics such as age, gender, marital status, driving experience and household factors.

Market expansion is planned for 2017.

NORCAL Mutual Begins Offering Medical Professional Liability Insurance Coverage to Utah Physicians

NORCAL Mutual Insurance Company’s national expansion continues with the approval to offer physicians in Utah NORCAL’s medical professional liability insurance policy that includes extensive protection for cyber liability and data breaches. The addition of Utah extends the insurer’s national footprint to 31 states.

The medical community in Utah has been served by its subsidiary Medicus Insurance Company since 2007. The transition to NORCAL Mutual will come with expanded services and additional benefits of being part of a national mutual carrier.