News from Unqork, Acrisure, AIR Worldwide and more. (Photo: Shutterstock)
American Property Casualty Insurance Association announced special award winners among the 2021 Class of Emerging Leaders, recognized during the Virtual Emerging Leaders Conference. This year, 123 insurance professionals from across the country and overseas were selected for the 2021 Class of Emerging Leaders and were invited to participate in the 2021 Virtual Emerging Leaders Conference. Among the stellar class of emerging leaders, nine individuals were recognized with an award for their exceptional work and outstanding impact in 2020.
Unqork is partnering with Marsh to build a new digital platform that streamlines insurance placement and policy management services in the U.S. The platform will create a digital workspace where Marsh's brokers, and the insurers they work with, can quickly and accurately perform key placement and policy services. The new platform includes seamless data capture, end-to-end renewal/placement workflows, digital submissions and quotes, self-service dashboards and financial and coverage comparison tools. It is expected to launch in the second quarter of 2021 with casualty coverage, expanding to property, financial and professional liability and other specialty lines throughout the year.
Professional Insurance Agents applauded Reps. Jason Smith (R-Mo.) and Henry Cuellar (D-Texas), and Senator Steve Daines (R-Mont.) for introducing the "Main Street Tax Certainty Act of 2021," which would make permanent the 20% tax deduction currently available to some passthrough entities. PIA successfully advocated for the passage of the tax bill signed into law at the end of 2017 because it provided subchapter S corporations, also known as "passthrough" corporations, with more favorable tax treatment. The law includes a tax deduction for owners of small businesses, reducing the potential tax burden on insurance agencies that organize as passthroughs. Many PIA members own independent insurance agencies that are organized as S corporations.
AIR Worldwide announced that it is making its Catastrophe Exposure Data Exchange database schema available as an open standard to facilitate accurate, efficient and transparent data exchange throughout the insurance value chain, allowing companies to make better risk management decisions.
Allianz Global Corporate & Specialty and Munich Re jointly developed a new commercial cyber risk insurance solution called "Cloud Protection +," exclusively for Google Cloud customers enrolled in the tech giant's Risk Protection Program.
Sunlight Solutions partnered with HazardHub, provider of geospatial risk data in the U.S., which will make HazardHub's proprietary datasets, risk scores, and catastrophe models immediately available to Sunlight customers. Using Sunlight Enterprise, daily insurance operations are easily automated, and the policyholder experience is enhanced through fully-integrated producer/customer portals, connected objects and parametric support services. A library of open APIs enables ease of integration with third-party data providers for more accurate underwriting and increased straight-through processing.
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