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Hi All! Hope everyone enjoyed the Thanksgiving holiday! We are back for the stretch run of 2021 as we all look to close out a year of returning to the new post-COVID normal. This week we are following the Zywave acquistion of CalarionDoor, Allstate HQ sale & Chime Insurance. Here are the three things we learned: |
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Zywave Acquires ClarionDoor Zywave is starting to look like other insurance software providers rolling up other companies with the news this week that they are going to acquire ClarionDoor, a promising rating / pricing tool. We aren’t sure how this fits in with the rest of the Zywave portfolio but could be a move towards establishing themselves as a player for P&C core systems. Remember back in the day when Duck Creek was only a rating engine? We may seem them enter the top tier in the future. |
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Allstate Selling Most of HQ Return to the office has been a topic many of us have been following and the insurance industry has been dealing with whether or not to have their workforces return to in person. The news this week of Allstate planning to sell most of their Northbrook, IL campus is the first major move by one of the larger carriers to shed office space. It appears insurers are trying to stay in touch with tech companies to allow flexible work arrangements, this will be key in attracting talent especially of the tech and innovation variety. |
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Chime Entering the Insurance Space Chime, a consumer-focused fintech, is looking to broaden their insurance offerings. 10 million customers is one large affinity group and it would appear that they can be successful, like other digital fintechs, in distributing insurance products alongside of other financial services. If you are already using them as a bank and to help with other personal financial management why wouldn’t you let them offer protection? Advice is still a big factor in buying insurance and Chime and others are positioned to be that ‘trusted advisor’. |
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Thank you for following us, we appreciate your feedback and continued support. Be Safe and Productive… Until next week… |