W.R. Berkley Corp.’s Berkley One expanded into Maryland and broadened its product offerings in other states where it does business. Openly, an InsurTech MGA focused on high-end homeowners insurance, is now available in its home state of Massachusetts. AXA XL’s North America Construction insurance business teamed up with Risk Control Technologies to provide clients with easy access to risk engineering and loss prevention.
W.R. Berkley Corp.’s Berkley One, an insurance provider for high-net-worth individuals and their families, has expanded into Maryland, and diversified its coverage in several other states.
In Maryland, Berkley One offers its full complement of personal insurance products and services including insurance for homes, condos and rentals, automobiles, fine art and collectibles, excess liability, flood and excess flood and recreational marine.
Collector Vehicle, offered through Berkley One Classics, has expanded to Colorado, Kansas and Missouri and Recreational Marine has been added in Illinois, Michigan, New Hampshire, Vermont and Wisconsin. These products are offered through agents with a Classics or Recreational Marine appointment with Berkley One.
Berkley One’s current footprint includes Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia and Wisconsin. Collector Vehicle is available as a stand-alone product in Iowa, Kansas, Missouri, Nebraska, North Dakota and South Dakota and Recreational Marine is available as a stand-alone product in Maine.
Openly, an InsurTech MGA focused on high-end homeowners insurance, is now available in its home state of Massachusetts.
Independent insurance agents in Massachusetts can now access Openly’s coverage, obtaining quotes in seconds.
Openly said it has filed for licenses now in 9 states, with plans to continue to provide broad and transparent coverage options Nationally. Agents are already using Openly in Arizona, Illinois, Pennsylvania, Tennessee, Kentucky, Ohio, Indiana and Wisconsin. Today, over 1,500 independent insurance agencies are offering Openly’s product to homeowners and the platform boasts a 91 percent retention rate among homeowners to renew policies, the company said.
AXA XL’s North America Construction insurance business teamed up with Risk Control Technologies to provide clients with easy access to risk engineering and loss prevention.
RCT is a risk engineering software platform specific to the insurance industry.
AXA XL’s Construction Risk Engineering team will use the platform to collect information from their on-going risk assessments of clients’ jobsites. During a risk assessment, risk engineers evaluate a jobsite’s overall risk, pinpoint possible exposures and make recommendations for corrective actions that may help minimize the risk and prevent a loss. Risk engineers will input their observations into the RCT platform to generate a report which will be emailed to clients.
Sources: Berkley One, Openly and AXA XL