Markel Corporation and Nationwide Join InsurConneXtions Alliance
Markel and Nationwide join AmWins, CRC Group, Heffernan, and Patra to bring standardized technology-enabled solutions to the insurance industry with AI and Automation
A consortium of insurance industry leaders that formed InsurConneXtions Alliance, including AmWins, CRC Group, Heffernan Insurance Brokers, Patra, and others, today announced two new members in Markel® and Nationwide. The addition of Markel and Nationwide further enhances the InsurConneXtions Alliance‘s goal of driving processing efficiencies and industry standards by building solutions that leverage AI and automation for the nation’s Broker Agencies, Wholesalers, MGAs, and Carriers.
With Markel and Nationwide’s addition, the InsurConneXtions Alliance now has market-leading underwriting representation as each will bring their perspectives, needs, and priorities for technology and automation that will provide the most impact efficiencies to the industry. Markel and Nationwide’s Underwriting expertise complements AmWins and CRC’s Wholesale perspectives and the retail perspectives of Heffernan and the other brokers. The InsurConneXtions Alliance, formed in October of 2020, delivered on its first significant initiative earlier this year of using AI to process policy checking and loss run reporting.
“Joining the InsurConneXtions Alliance will enable Nationwide to further expand its innovation footprint and collaboration to bring new efficiencies and technological capabilities to our agency partners,“ said Peter McMurtrie, Nationwide’s President of Commercial Lines. “This partnership aligns with our focus on delivering best-in-class and easy-to-deploy solutions to agencies that help create new value, improve on customer experience, and drive revenue for their business.“
“We are extremely motivated to join forces with other members of the InsurConneXtions Alliance to tackle inefficiencies in our market,“ said Glenn Harris, Managing Executive, Distribution Strategies and Business Development of Markel. “Complex environments require transformative thinking. This partnership expands our capabilities and demonstrates the power and versatility of bringing new technology to all parties to provide exceptional customer service.“
About Markel Corporation
Markel is a diverse financial holding company serving a variety of niche markets. The company’s principal business markets and underwrites specialty insurance products. In each of the company’s businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value. Markel® is a registered trademark of the Markel Corporation. Visit Markel on the web at markel.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor‘s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.