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"Brittney Orellano, 39, first learned about "the search" in 2022, through a podcast interview with Codie Sanchez, a YouTuber who often posts about the virtues of acquiring a "boring business." Ms. Orellano and her husband, Ray, 46, had built a property management company together in Kansas City, Kan. But it had never occurred to her that she could buy a business that was already successful."
– The New York Times.
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Sponsored |
Socotra Announces Industry-Leading Reliability Metrics |
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Socotra is proud to publish our 2024 uptime metrics, showcasing an average customer downtime of less than 32 minutes through 50 upgrades each. These industry-leading metrics demonstrate our commitment to reliability and transparency.
Socotra CEO Dan Woods commented, "Socotra is still the only policy administration system to take cloud seriously. We deliver consumer-grade reliability, performance, and upgrades because we use the same technologies and techniques as platforms like Gmail, LinkedIn, and Zoom. We hope others in the industry will follow our example."
Read the blog post.
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🍾 |
NJM Insurance Group's President & CEO, Mitch Livingston, will retire on July 31, 2025, after a career that spanned 19 years at the company, including the past seven as its leader. Carol Voorhees, NJM's Executive Vice President & Chief Operating Officer, has been selected by the company's Board of Directors to succeed Livingston.
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Unique access |
Assurant Ventures, the venture capital arm of Assurant, announced an investment in Automotive Ventures' Mobility Fund II. The fund focuses on identifying and supporting innovative early-stage startups across the mobility ecosystem.
"Automotive Ventures provides unique access to a curated pipeline of promising early-stage mobility companies that we may not otherwise discover. This investment brings strategic value to our business and presents a powerful opportunity to co-invest in tools and technologies that support our automotive dealer partners in the evolving mobility space." – said AJ Fang, partner at Assurant Ventures.
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Backed by New York Life Ventures |
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Compliance AI platform Norm Ai has raised $48 million from Coatue, Craft Ventures, Vanguard, Blackstone Innovations Investments, Bain Capital, New York Life Ventures, Citi Ventures, TIAA Ventures, and Marc Benioff, bringing the total funds raised to $87 million over the past 18 months.
Founded in 2023, Norm Ai can help compliance professionals evaluate whether proposed content or actions are compliant with relevant regulations. The solution is built with the startup's Legal Engineering Automation Platform, a proprietary system for creating AI Agents with legal and regulatory domain expertise.
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New division & program |
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Chubb announced the creation of a new division within its North America Middle Market organization, combining Chubb's Lower Middle Market and Digital Small Business divisions into a single unit that will operate as North America Small & Lower Midmarket.
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Insurance broker Venbrook has been named a managing general agent for Crum & Forster Accident & Health Division and launched an International Travel practice as the first program under the new agreement.
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The explorer |
"As part of our exploration into the independent agent channel, customers who purchase a GEICO policy through an independent agent can service that policy through that same agent."
– GEICO spokesperson.
Seems like they have discovered something.
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🤝 |
Porch Group has reached a $7.1 million settlement with the Vesttoo Creditors Liquidating Trust.
In other Vesttoo-related news, co-founder and former CEO Yaniv Bertele is posting on LinkedIn again.
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$12.1B |
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As of March 5th, insurance companies have paid out ~$12 billion in claims related to the Eaton and Palisades fires.
In related news, State Farm sent out a new letter to Commissioner Lara.
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