Insurance Software Company SSP joined a Willis Towers Watson program designed to help boost what it can learn from data. Privilege Underwriters Reciprocal Exchange, or PURE, has launched PURE Gold, a loyalty program designed to give cash contributions to veteran members. Berkshire Hathaway GUARD Insurance Companies recently has added Pennsylvania to the list of states where the insurer offers its Accountants Professional Liability product.
Berkshire Hathaway GUARD Insurance Companies recently has added Pennsylvania to the list of states where the insurer offers its Accountants Professional Liability product.
The company first began writing Professional Liability for a limited number of classes in 13 states, but now offers the coverage to close to 100 different types of businesses in 30 states. Further expansion is planned, the company said.
The Accountants Professional Liability product is targeted to CPA firms with up to $10 million in annual revenue, and larger firms are considered on a case-by-case basis. Coverage includes limits of up to $3 million per claim and deductibles starting as low as $500.
Berkshire Hathaway GUARD Insurance Companies is a specialty property/casualty insurer that writes nearly $2 billion in premium nationally.
Privilege Underwriters Reciprocal Exchange, or PURE, has launched PURE Gold, a loyalty program through which members who have been with PURE for 10 years or more can receive annual cash contributions.
Based on input from PURE’s Subscribers’ Advisory Committee, PURE Gold members will be given the option of receiving their payment as a check for their 2019 distribution or donating it to Feeding America. More than 2,500 members will qualify for this distribution.
In a related move, the policyholder-owned property/casualty insurer focused on high-net-worth individuals and families said it gave $22 million of policyholder surplus back to members in the form of Subscriber Savings Accounts.
Willis Towers Watson said that insurance software company SSP has joined its Radar Live Collaborator program, something that will help the company boost what it can learn from data.
By joining the program, Willis Towers Watson said SSP will improve its capability to derive sophisticated insights from valuable data sources and to deploy machine learning models from a single platform. The program will also allow SSP customers to benefit from the faster implementations of Radar Live, the price delivery platform.
Radar Live’s technology enables insurers, managing general agents (MGAs) and intermediaries to deploy their rates rapidly to market, to ensure the accuracy of those rates and that their operations are highly efficient. It also equips users with system scalability and stability to support the provision of hundreds of millions of quotes per year. Radar Live allows rates, rules and adjustments to be easily developed and deployed directly to a rating system and executed in real time, the companies said.
Sources: Willis Towers Watson/SSP, PURE, Berkshire Hathaway GUARD