Reliance Standard partners with Employee Navigator to smoothen enrollment and administration

Key Signals in Insurance

Legal & General agrees USD 300 Mn pension’s deal with Newell Rubbermaid
The insurance company has agreed to a GBP 225 Mn (USD 296.42 Mn) bulk annuity deal with Newell Rubbermaid UK Pension Scheme. L&G is one of the biggest players in the UK bulk annuity market, ensuring company-defined benefits, final salaries, or pension schemes. Read More>>
Tawuniya seals a deal to provide insurance services to Saudia employees
Saudi-listed insurance firm Tawuniya agreed with Saudi national carrier Saudia to provide health insurance for the employees and families of the airline. The deal’s value exceeds 5% of the total growth written premiums of the company in 2020. Read More>>
Employee Navigator & Reliance Standard announce partnership
Reliance Standard’s broad suite of benefits will be available on the Employee Navigator platform, including life, disability, dental, vision, hospital indemnity, critical illness, and accident coverages. In addition, Reliance Standard expects to remove the burden of mapping and testing files for brokers during the onboarding process. Read More>>
Swiss Re partners with global Insurtech dacadoo to offer a platform to insurers of all sizes
The company announced a global partnership, with Swiss Re offering the dacadoo platform to large and small insurers. The new combined solution also strengthens Swiss Re’s Personal Resilience Suite. PRS is a holistic, modular, and innovative risk assessment approach powered by Swiss Re’s renowned underwriting manual Life Guide. Read More>>
AXA partners Setel to offer online motor insurance
The company partnered with Setel to integrate e-payment at the pump to provide motorists with a fast, secure, and simple way to purchase their car insurance digitally. With AXA being the first insurance provider that Setel has onboarded, Setel users can purchase AXAs motor insurance plan – SmartDrive Enhanced easily through the Setel app. Read More>>
Executive Movement
First American Financial Corporation appoints Paul Hurst Chief Innovation Officer
The company appointed Paul Hurst as chief innovation officer. Hurst will report to Ken DeGiorgio, chief executive officer of First American Financial Corporation. Hurst will also identify opportunities to innovate through strategic venture investments, partnerships, and mergers and acquisitions. Read More>>
AXA XL appoints Nancy Bewlay as Chief Executive, Reinsurance
The company appointed Nancy Bewlay as Chief Executive Reinsurance with immediate effect. Ms. Bewlay assumes the role of Charles Cooper, who has decided to step down after more than 20 years as a senior executive in the company’s Reinsurance business. Ms. Bewlay has over 30 years of industry experience and has held numerous senior roles at XL Catlin and then AXA XL. Read More>>
Medibank lands new CISO
The company appointed Alex Loizou as its latest chief information security officer. Loizou officially joined Medibank in late January after Stuart Harrison left the role for NBN Co as its general manager for cyber defense. Read More>>
Financial and Market Activity
ProMedica’s senior care division reports USD 93.1 Mn in losses for the fourth quarter
Toledo-Ohio ProMedica’s senior care division generated an operating loss of USD 93.1 Mn for the fourth quarter of 2021, compared with the division’s operating loss of USD 43.5 Mn for the prior year’s fourth quarter. Read More>>

Latest Industry Insights from Draup Braindesk

  • Blue Cross Blue Shield Association’s Digital Health Assistant sets goals and chooses activities that help meet them. There are specific programs for exercising, eating better, reducing stress, quitting smoking, improving mood, and losing weight. Blue Cross Blue Shield Association’s Virtual Health & Fitness Coaching offers hundreds of virtual fitness classes, nutrition classes, and goal-based challenges to engage all members of all fitness levels and ages in the health journey. 
  • Blue Cross Blue Shield Association expands coverage and access to virtual care solutions and offers additional telehealth resources to meet specific needs in the regions. 
  • Blue Cross Blue Shield Association has provided Precision Medicine to the patients. BCBS companies are working to better personalize medical treatment to a person’s genetic makeup, environment & behavior.

Key Funding Alert

Emeritus, part of the Eruditus Group, secures USD 350 Mn debt financing from CPP Investments
With a year-on-year growth rate of 120%, Emeritus estimates gross bookings of USD 500 Mn for the financial year. As the company continues to grow 2.5x organically, Emeritus will also accelerate growth through inorganic initiatives. Read More>>

Startup Spotlight

Company – Sproutt Insurance
Total Funding – USD 38 Mn
About: Sproutt uncovers and rewards the ‘hidden’ healthy behaviors in everyone. Using AI technology, Sproutt’s Quality of Life Index (QLI) assesses behaviors that reflect healthy living to personalize life insurance policies for each customer. Read More>>
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