Business News: Tokio Marine, SAS and iCAS, GenNx360

Tokio Marine Streamlines Cargo,Product Contamination Coverage

Tokio Marine America and Tokio Marine HCC, two subsidiaries of Tokio Marine Holdings, are offering food and beverage importers simplified access to Cargo and Product Contamination coverage. This partnership will offer broader choices and coverage for importers seeking protection from new exposures created by the Food Safety Modernization Act (FSMA).

TMA’s Cargo insurance provides coverage for goods in transit by land, ocean, or air, from “warehouse-to-warehouse.” Food importers with TMA’s Cargo coverage can benefit from loss control and damage prevention recommendations, review of operational and contractual agreements, security assessments, vessel outturn inspections, and supply chain risk analysis and risk monitoring.

TMHCC policyholders can benefit from the policy even before having a loss. Through TMHCC’s relationship with Stericycle ExpertSOLUTIONS, policyholders can utilize up to 10 percent of the premium for pre-incident consulting services provided by ExpertSOLUTIONS. These services can help companies navigate the complexity of the new FSMA regulations.

SAS and iCAS Generate Certified Analytics Talent for Insurers

Working professionals can supercharge careers in the insurance industry by taking advantage of a collaboration between analytics leader SAS and The CAS Institute (iCAS). SAS is contributing software to the project requirement of The CAS Institute’s Certified Specialist in Predictive Analytics (CSPA) credential, which provides evidence of practical knowledge in applied predictive analytics and data science in property and casualty insurance.

The SAS support of the CSPA credential means professionals can use the same software they use every day to gain high-demand advanced analytics skills, and the certification to validate those skills.

SAS software is used in nearly every large insurance company in the US. Analytics helps insurers optimize business processes, combat fraud, predict losses and manage spiraling operational costs, increasing competition and rising claim expenses.

Earning the CSPA credential includes completing two online courses, passing three exams and completing a project that challenges candidates to use what they have learned to address a real-world scenario. SAS software will be available for candidates to use during the project.

GenNx360 Capital Partners Acquires CRS Temporary Housing

GenNx360 Capital Partners, a New York-based private equity firm that invests in middle market business services and industrial companies announced its acquisition of CRS Temporary Housing, a asset-light provider of professionalized relocation and temporary housing solutions. Terms of the transaction were not disclosed.

Founded nearly 30 years ago and headquartered in Phoenix, Arizona, CRS employs over 100 highly trained professionals. The Company services the property and casualty insurance industry providing relocation and temporary housing solutions to dislocated policyholders. This dislocation typically results from fire or water damage with CRS assisting the policyholder from the time of initial loss through completion of repair and subsequent move-in. CRS provides a service that is deemed critical to the insurance carrier as well as to the homeowner. Its customer base is diverse and includes many leading insurance carriers.

Piper Jaffray & Co. served as the exclusive financial advisor to CRS.