ADVISEN AND ASSUREX GLOBAL ANNOUNCE STRATEGIC PARTNERSHIP
TO PROVIDE INFORMATION, BENCHMARKING AND ANALYTICS APPLICATION SERVICE
Industry Information and Analysis of Commercial Insurance Market
NEW YORK, April 11, 2005 – Advisen Ltd., the leading provider of analytics, benchmarking and market information to the commercial insurance industry, and Assurex Global, the world’s largest privately-held risk management and commercial insurance brokerage group, today announced a new strategic partnership designed to offer the Advisen information, benchmarking and analytics application service to hundreds of brokerage professionals at Assurex Global Partners around the world.
Under the agreement, Advisen and Assurex Global will co-market the Advisen platform to the 130 independently-owned Assurex Global Partner firms. Employing more than 20,000 professionals, Assurex Global Partners generate annual premiums in excess of $19 billion.
“Assurex Global and Advisen are offering Assurex Global Partners a unique toolset that will afford them the information and analysis to successfully compete with the world’s biggest brokers for both middle market and national accounts business,” said Thomas P. Ruggieri, CEO of Advisen. “For Advisen, our partnership with Assurex Global represents a critical event in the growing penetration of Advisen across all areas of our industry.”
"Partnering with Advisen gives Assurex Global Partners a distinct advantage," said Tom Cornish, CEO of Seitlin and Company, an Assurex Global Partner. "The depth and breadth of the information available within the Advisen platform allows Seitlin and Company’s sales force to prospect for new business more efficiently, making our agency more competitive.”
The Advisen application service is uniquely designed for commercial insurance professionals, providing a single access point for risk, exposure, and real-time market information, with in-depth data on companies and industries. Advisen is a trusted resource for unbiased information, integrating data and analytical tools to help drive better risk decisions, more efficiently manage insurance programs and provide insight into market conditions. Commercial insurance professionals, such as Assurex Global Partners, leverage Advisen to monitor market trends, prospect for new clients and deliver high-value consultative services to existing clients.
“Assurex Global strives to offer our partners tools and services to make them leaders in their geographic regions and specific markets,” said Kelli Black, Executive Vice President and Chief Operating Officer of Assurex Global. “Bringing solutions like Advisen to them represents the value we provide to our Partners to make them more competitive and therefore more successful.”
"Knowledge and access to information in a timely fashion equates to increased efficiencies," said Bill Mason, Executive Vice President of Operations at Rutherfoord, Inc., an Assurex Global Partner. "That’s what the partnership with Advisen will bring Assurex Global Partners. Advisen enables us to positively respond to clients’ desires for benchmarking information, but the main value is having a convenient, single source for vast quantities of data on prospects, clients, coverage and the industry.”
Advisen Ltd. provides insight into underwriting, marketing and purchasing commercial insurance. Advisen's web-based workstation incorporates real-time analytics and research on over 1.5 million companies, and 70 industries. Advisen currently serves nearly 350 leading commercial insurers, insurance brokers, risk management departments of major corporations, and other related organizations. Proprietary offerings of the Advisen service include Benchmarking, Custom Templates for Company Work-ups, Company and Industry Research, Loss Analysis, Management Portfolio Analysis and Policy Comparisons. For more, visit www.advisen.com or call 212.897.4800.
About Assurex Global
As Assurex Global celebrated its 50th Anniversary in 2004, its independent broker Partners boasted combined annual premiums of $19 billion, generated by 20,000 experienced industry professionals in offices on six continents. Assurex Global Partners are among the leading independent insurance agencies in their respective markets. What differentiates Assurex Global from national brokers is that Partners are managed by their owners. Typically employing 100 professionals, the Partners deliver property, casualty, surety, life and employee benefits insurance for large and small clients. For a complete list of Partners or other information about Columbus, Ohio-based Assurex Global, visit www.assurexglobal.com.