Zurich NA launches parametric cover for construction projects: Roundup

Banners fly outside a Zurich Insurance Group AG building in Zurich, Switzerland, on Thursday, August 6, 2015. Zurich Insurance is raising financing ahead of a possible takeover offer for RSA Insurance Group that could come as early as next week, according to people familiar with the matter. Photographer: Alessandro Della Bella/Bloomberg
Bold Penguin, insurance technology provider, announces collaboration with Encova Insurance to offer a quoting experience for business owners' policies for its independent agents. "Partnering with Bold Penguin allows us to execute this vision quickly and efficiently, allowing more small businesses to access the coverage they need to grow their businesses,” says Encova Executive Vice President, Commercial Lines and Life, Grady Campbell.
Breeze, Omaha-based insurtech company, announced critical illness insurance products for consumers from Assurity are now available on its platform. Individuals can request personalized quotes and complete a digital application process in as little as ten minutes. ritical illness insurance provides a lump-sum cash benefit of up to $75,000 if you experience a first-time diagnosis of cancer, heart attack, stroke or other covered condition. Jared Carlson, vice president of ventures and individual sales at Assurity says, "Adding Assurity's critical illness insurance product to Breeze's simple, streamlined platform advances our mission to use innovative technology to help underserved markets access vital protection. This is an exciting next step for our partnership."
Zurich North America launched Construction Weather Parametric Insurance for project owners and contractors in response to severe weather events. Claim payment is based on predetermined weather events occurring in the project's location, such as extreme rain, wind or temperatures (hot or cold). The policy doesn't require physical loss or damage for a claim to be paid. Kelly Kinzer, Head of Construction Property for Zurich North America says, "We are proud to offer this solution as a complement to our newly enhanced suite of Master Builders Risk and Project Builders Risk policy forms, which include flexible reporting options, as well as several new coverage enhancements attuned to today's evolving marketplace.” Kinzer also shared, "These innovative products demonstrate why Zurich has been a trusted leader in the construction space for 25 years. The Zurich Construction team is committed to putting our extensive knowledge, experience and financial strength to work for contractors and owners.”
Covr Financial Technologies, Americo Financial Life and Annuity Insurance Company, and global reinsurer SCOR announce the launch of LoanMatch Protector, a life insurance policy customized to a consumer’s loan amortization schedule. LoanMatch allows easy access for customers of their partner financial institutions to purchase coverage during or after their loan applications through digital integration with the institution’s technology. The process can be completed in less than 15 minutes and eliminates the need for a medical examination 88% of the time for coverage amounts up to $1 million.