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Insurance Industry Leaders Including AmWINS Group, CRC Group, Heffernan, and Patra form Solution Development Alliance

Insurance Industry Leaders Including AmWINS Group, CRC Group, Heffernan, and Patra form Solution Development Alliance

EL DORADO HILLS, Calif., Oct. 13, 2020 /PRNewswire/ — Patra, a leading provider of technology-enabled solutions for the insurance industry, along with AmWINS Group, CRC Group, Heffernan Insurance Brokers, are among the leading companies that have formed InsurConneXtions Alliance, a strategic alliance that will prioritize, develop, and integrate specific technology solutions into critical insurance processes – for the purposes of driving processing efficiencies and industry standards.

The Insurance industry will need to rapidly adopt technology to drive efficiencies and economic value for our customers

The formation of InsurConneXtions represents leaders across insurance technology, brokerage, wholesale, and specialty insurance, and represent over $50 Billion in Insurance premiums. 

With a multitude of decisions and rapid changes facing the insurance industry, collaboration and cooperation is required to accelerate the integration of technology into critical and high-volume processes. The charter members of the Alliance are well positioned to leverage their expertise, experience, and market position to accelerate the deployment of technology into a variety of insurance processes. 

The alliance has unanimously selected to begin its collaboration by focusing on technology and efficiency improvements to policy checking. Policy checking is a high volume and comprehensive process that performs a critical validation for accuracy and integrity of policy issuance across carriers, wholesalers, and brokers. Beginning this month, alliance members will work together to drive the evolution of Patra’s industry leading policy checking solution.

“The need for insurance leaders to collaborate on technology has never been more important and this InsurConneXtions will be an important and strategic contributor,” said John Simpson, CEO and Founder of Patra. “With industry leading firms along with Patra’s technology and full-service delivery capabilities, a collaborative approach will help ensure a more rapid delivery of tech-enabled solutions to help solve our common challenges.”

“Speaking on behalf of the membership, we are excited

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Mastercard forms alliance to accelerate financial inclusion in Latam | Business | English edition

Mastercard forms alliance to accelerate financial inclusion in Latam | Business | English edition

Mastercard announced on Thursday an alliance with five leading financial services and technology companies in Latin America to accelerate digital and financial inclusion in a region where almost half of the adult population is unbanked.

“It is an unprecedented private sector agreement,” Kiki del Valle, Senior Vice President, Digital Partnerships, Mastercard Latin America and Caribbean, told Efe in reference to the “Tech for Good Partnership” alliance stemming from the company’s long-standing commitment to financial inclusion.

Del Valle said the multinational is guided by its principle that “doing good has positive results for business,” and added that she believed financial inclusion benefits society, as it strengthens the formal economy and creates job opportunities.

“Technology has the power to change the reality of millions of people and companies that are not prepared to face current challenges,” said Carlo Enrico, president of Mastercard Latin America and the Caribbean.

Enrico stressed the importance of uniting “the best minds, resources and efforts with a singular focus: to build an inclusive economy in the region. This can be a game changer for many.”

Mastercard sought this joint effort with Bancolombia, Banco Galicia and Citibanamex, and the fintech companies Mercado Libre and PayPal, aware that the private sector needs to and can do more to drive innovation for those outside the financial system.

They will pool their technology and knowledge so that no one is left behind in the digital economy, said Del Valle.

It also frees thousands of people from having to rely on non-formal moneylenders and remittance services, she added.

According to data from 2017, 45% of the Latin American adult population, which is equivalent to 200 or 220 million people, did not have bank accounts.

Only Africa has a lower bankarization rate.

AN ALLIANCE FOR GOOD

Although it has its own independent entity, the

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Leading Consumer Financial Services Companies Announce INFiN, A Financial Services Alliance

Leading Consumer Financial Services Companies Announce INFiN, A Financial Services Alliance

WASHINGTON, Oct. 6, 2020 /PRNewswire/ — A wide array of the nation’s leading consumer financial services providers announced today the creation of INFiN, a Financial Services Alliance, representing more than 350 companies operating approximately 8,000 locations throughout the United States.

INFiN will provide a unified and strengthened voice for the vital and rapidly evolving consumer financial services industry and advocate on behalf of its customers.

Consumer financial services providers ensure consumers have access to a variety of critical financial products and services to help manage their personal finances, including check cashing, pre-paid cards, money transfers, electronic bill payments, and small-dollar loans, among others. INFiN represents the formal alliance of these innovative providers, bound by a shared commitment to their customers, regulatory compliance, and transparency.

“Consumers’ financial needs and options, including the ways they choose to access solutions, are continually evolving,” said Ed D’Alessio, INFiN’s executive director. “Our alliance and members embody the ongoing transformation of consumer financial services, providing the inclusion, innovation, and integrity our customers need, expect, and deserve.”

Comprising members of Financial Service Centers of America (FiSCA) and the Community Financial Services Association of America (CFSA), the new financial services alliance builds on the history and proven track record of leadership provided by two of the oldest national trade associations in the regulated consumer financial services industry.

“With our alliance as INFiN, we are integrating our longstanding partnership with our collective mission to serve consumers by advancing a thriving marketplace that responds to their diverse needs and interests and by engaging them across platforms and channels – from community-based storefronts to online tools powered by the latest technology,” said D. Lynn DeVault, Co-Chair of the INFiN Board of Directors.

“Millions of hardworking consumers, our customers, know all too well the realities of juggling their

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