Chubb launches AI embedded engine; Trucordia acquires 5: Insurance news

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The following summaries are written by the Digital Insurance editorial staff.

Digital Insurance reviews a high volume of news leads every week for this and other stories. Please send press releases and other information to kaitlyn.mattson@arizent.com.

Chubb launches AI-powered embedded insurance engine

Chubb launched an optimization engine within Chubb Studio, its embedded insurance technology platform, at the Singapore Fintech Festival. The AI analyzes data and delivers personalized insurance offerings at the point of sale. 

Sean Ringsted, chief digital business officer at Chubb, said in a statement: "The launch of the Chubb Studio optimization engine represents a significant leap forward in how we empower our digital distribution partners to engage their customers, increase conversion and build financial resilience through highly relevant insurance protection. By combining data-driven insights with Chubb's breadth of products and deep industry and regional market expertise, we're enabling unique insights for our partners, and delivering tailored insurance products and services that drive results."

Trucordia acquires five companies

Trucordia acquired five insurance businesses across the U.S. The businesses include Assured Insurance Consultants in Tennessee, Charles River Insurance and Breezy Seguros in Massachusetts, Eberle Insurance Agency in Arkansas and Osborn Insurance Agency in New Jersey. 

Rocky Steele, SVP of business development at Trucordia, said in a statement: "This moment is a milestone; it's a signal of what's ahead. We're building a platform where local insurance businesses can grow and where clients benefit from local insight and national strength. That's the future we're creating together."

Manulife and Mahindra establish joint venture in India

Manulife Financial Corporation and Mahindra & Mahindra announced the two companies will enter into a joint life insurance venture. The new venture will expand on the collaboration between Manulife and Mahindra in India. Mahindra Manulife Investment Management launched in 2020. 

Phil Witherington, president and CEO, Manulife, said in a statement: "Today marks an important milestone as we seek to enter one of the world's fastest growing insurance markets – India. This will further strengthen our diverse portfolio and positions us for tremendous growth in a mega economy of the future."

Focus expands leadership and underwriting

Focus Insurance Services, a provider of insurance operations solutions, announced an expansion of its team. Focus hired 30 experienced underwriters. The company also appointed Andrew Fox, VP of strategic partnerships and sales.

Pete Crowe, President of Focus, said in a statement: "Across the market, we're seeing carriers and MGAs rethinking how they operate. More than reducing cost, they're looking to improve performance, scalability, and customer experience. This expansion reflects the growing confidence insurers are placing in Focus as a partner that can deliver both operational excellence and strategic advantage. We're investing in the talent and technology that will keep our clients ahead of what's next."

Amwins Program Underwriters launches workers' comp

Amwins Program Underwriters (APU) launched AmeriComp Workers' Compensation program. The program brings APU's underwriting expertise and QBE as a carrier strength to help retail agents deliver workers' compensation.

Jon Beckham, president at Amwins Program Underwriters, said in a statement: "This represents an exciting evolution for AmeriComp's product line, complementing their existing market-access solution with a new, true underwriting program backed by QBE. This next step showcases our deep underwriting expertise, trusted carrier partnerships and unwavering commitment to delivering innovative, high-performing solutions that help our clients win in a competitive marketplace."

Everest names EVP, CEO of legacy operations

Everest Group announced Gary Haase as executive vice president and CEO of legacy operations on Dec. 1. Haase will lead the strategy and execution of the legacy insurance portfolios, driving capital efficiency and operational discipline.

Haase was recently an executive advisor to private equity and technology firms. He previously was EVP and COO at CNA Financial Corporation, leading enterprise technology, data analytics and operations. 

Jim Williamson, Everest's president and CEO, said in a statement: "Gary's broad and diverse experience — from actuarial and claims to M&A and technology transformation — makes him uniquely qualified for this role and an exceptional addition to our senior team. His proven ability to modernize complex legacy portfolios and integrate analytics to unlock value will strengthen our legacy operations, enhance capital deployment and support Everest's strategy for sustained, profitable growth."