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At Heffernan Insurance Brokers, we embrace the evolution and modernization of the industry. Technology is changing how everyone does business, and the insurance industry is no exception. With that said, it’s only been in the last five years that major venture capital and private equity money has made the insurance industry a serious focus. For many years, we have looked to develop and engage with technology solutions that make us more efficient and create a better user experience for our employees and even more importantly, our customers. Recently, we’ve become one of the more actively involved independent brokerage firms in the industry.
Purpose
HG Innovate is Heffernan’s vehicle for engaging proactive involvement in the insuretech revolution. We collaborate with like-minded peers around the country and engage with insuretechs to demo and test new technology, all in an effort to find solutions and platforms that create new efficiencies, create modern customer experiences and the best customer satisfaction, as well as opportunities for investment.
Areas of Focus
DEVELOPMENT
We have, and will continue to develop certain technology solutions that are not readily available in the market, yet solve a dilemma that we have identified and which has a material impact on our business.
ENGAGEMENT
Our HG Innovate team is continuously analyzing insuretech solutions and platforms, and at times engaging with them in pilots to see if we want to implement the solution in our firm.
INVESTMENT
We continuously look for intriguing investment opportunities in the insuretech space, typically for solutions that we will adopt.
Customer Relationship Manager developed by HG IT Services, Inc.
Email gateway compression software.
Outlook Plugin allows users to attach one or more emails in Epic to client activities, save your custom descriptions as favorites, create new activities, and much more, all from directly within Outlook. This tool results in a 60% time savings for users.
Claimazon allows consulting to transact formal client contracts while interfacing with EPIC as well as keep our clients informed on current industry topics and changes.
Engagement
HRIS and benefits administration platform.
Purchased by Applied, 2019
Electronic solutions for the application and renewal process.
Transportation-based technology solution.
Acquired by Patra Corp, December 2020
Software solution for insurance companies and MGAs.
Software for brokers and carriers to connect, access, and leverage insurance data analytics throughout every step of the customer lifecycle.
Wearable technology that helps protect workers’ health and safety.
On demand insurance online platform – flexibility for individual to buy insurance by the hour, day, week or month.
Surgery advocacy and guidance for employees, with an opioid reduction campaign.
Virtual Reality based training.
AI based data consolidation and dashboard platform focused on loss runs and policy comparison.
Wearable device for large facility-based businesses.
Web-based automation platform for getting loss runs from insureds.
AI based platform that helps personal lines agents get answers to underwriting guidelines in real time.
Commercial insurance lead exchange and carrier rater.
Small commercial web based new business application and carrier rater platform.
Certificate of Insurance Tracking and Validation Platform.
Mod Analysis tool that provides reports and content for your clients or prospects.
Investments
HRIS and benefits administration platform.
Purchased by Applied 2019
Electronic solutions for the application and renewal process.
Transportation-based technology solution.
Acquired by Patra Corp, December 2020
Software solution for insurance companies and MGAs.
Software for brokers and carriers to connect, access, and leverage insurance data analytics throughout every step of the customer lifecycle.
Merged with Patra Corp, 2015
Outsourced end-to-end small business agency solution that enables insurance agents and brokers to participate in the small business P&C market.
Wearable technology that helps protect workers’ health and safety.
On demand insurance online platform – flexibility for individual to buy insurance by the hour, day, week or month.
BrokerTech Ventures Partner
Heffernan is a proud partner of BrokerTech Ventures, a broker-led investor group and the convener of broker-centric innovation, ideation, investment and communication, for the insurance ecosystem.
InsurConneXtions Partner
Heffernan is a proud partner of InsurConneXtions, a collaboration of industry leaders to prioritize, develop, and distribute technology solutions and industry standards to drive insurance processing efficiencies.
Labs by Heffernan
In conjunction with BrokerTech Ventures (BTV), we are participating in the BTV Labs partnership whereby we welcome the new insurtech technologies into our privately held brokerage ecosystems. Through Labs by Heffernan, we hold a unique opportunity to allow our greatest asset – our employees, to provide the vetting lens as we open our doors, arms and minds, to the insurtech movement. We view our Labs by Heffernan technicians as our wizards behind the curtain, allowing us to fully review, explore, vet and test, insurtech solutions in which we see the greatest opportunity for Heffernan’s future. The BTV Labs partnership allows our collective insurance brokerage teams to collaborate, thought share and work towards a common goal of bring the best technologies to market.
Contact
For more information on our HG Innovate initiative and efforts to evaluate technologies that will enable us to better our business, contact HG Innovate lead, John Prichard, Jr.