Itasca, Illinois-based insurance brokerage and risk management services company Arthur J. Gallagher & Co. said it has acquired Chicago-based consulting firm Gruppo Marcucci, LLC. Terms of the transaction were not disclosed.

New York City-based homeowners' and rental insurance company Lemonade said it has set a world record for the speed of paying a claim. In three seconds, a Lemonade claims bot reviewed the claim, cross referenced it with the policy, ran 18 anti-fraud algorithms on it, approved the claim, sent wiring instructions to the bank, and informed the client the claim was closed.

Valhalla, New York-based insurance brokerage and consulting company USI Insurance Services said Todd R. Johnson has been appointed to a two-year term as chairman of the Massachusetts Workers' Compensation Advisory Council (WCAC). He is senior vice president and property-casualty practice leader of the USI Massachusetts offices.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.