Tokio Marine Highland’s Kiran Achen Named Chicago CIO of the Year: Learn More

Tokio Marine Highland

Josh Clifton

Tokio Marine Highland’s Kiran Achen Named Chicago CIO of the Year

Chicago, IL – Today, Tokio Marine Highland’s Chief Information Officer Kiran Achen was named the 2022 Corporate Chicago CIO of Year. The ORBIE Awards, presented by ChicagoCIO, recognize CIOs who have demonstrated excellence in technology leadership.

“It is a great honor,” Achen said. “This is a recognition for everyone at Tokio Marine Highland and for all of our accomplishments. I want to thank my team, without whom these achievements would not be possible, our vendor partners who have helped us find success, and our business partners and leadership team. Without their support, empowerment and trust, I would not be here representing our organization. I want to congratulate all of my fellow nominees and finalists. It was an honor to be in your company and I am truly humbled.”

Photo of Kiran Achen.
Kiran Achen, CIO

Achen joined Tokio Marine Highland as CIO 2018, with the responsibility of defining and implementing a technology strategic vision aligned to the company’s growth and performance goals, and the challenge of transforming a family-run business into a data- and analytics-driven digital insurer. Under his leadership, Tokio Marine Highland’s IT organization has been instrumental in delivering solutions that have grown the company from $165 million in gross written premium (GWP) in 2017 to $322 million GWP in 2021.

“Winning this award in this competitive field is amazing,” said Pat Blandford, CEO of Tokio Marine Highland. “Kiran was judged by his peers against the best talent in the Chicago area. They saw what I see. His consistent approach to developing his team and listening to his business partners makes him an invaluable part of our team. I am incredibly proud and so pleased he is being recognized.”

The CIO of the Year ORBIE Awards were launched in 1998. Finalists and winners are selected through an independent peer review process, led by prior ORBIE recipients, and based upon leadership and management effectiveness, business value created by technology innovation, and engagement in industry and community endeavors.

For more information about the 2022 CIO of the Year Orbie Awards, visit the ChicagoCIO website.

About Tokio Marine Highland

Tokio Marine Highland is a leading property and casualty underwriting agency that offers distinct specialty risk management solutions, including private flood, construction, fine art, specialty property, real estate investment and lender-placed insurance. Tokio Marine Highland also includes Precise Adjustments, a wholly owned subsidiary that provides industry-leading claims capabilities.

Founded in 1962, Tokio Marine Highland Insurance Services, Inc. (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, rated A+ by Standard & Poor’s for financial strength, and a member of the Tokio Marine Group. Tokio Marine Highland’s home office is located in Chicago, IL, with operating centers in Dallas, TX, Irvine, CA, Miami, FL, Naperville, IL, and South Pasadena, CA.

For more information, visit our website at www.tokiomarinehighland.com.

Media Contact:

Joshua Clifton
Vice President, Marketing and Communications
312-736-2351 (office)
773-230-1304 (mobile)
joshua.clifton@tmhighland.com

 

Spring Showers Bring Risk of Flooding: Are Your Clients Prepared?

Spring is here, and for many areas of the country, that means increased risk of flooding from the threat of heavy rainfall. According to data from the National Oceanic and Atmospheric Administration (NOAA), five of the six costliest floods since 1980 were spring floods or the result of heavy spring precipitation that led to conditions that set the stage for severe flooding events during the summer months.

While forecasters from the National Oceanic and Atmospheric Administration (NOAA) are not predicting the severe, widespread flooding experienced during the 2019 spring season, several areas of the country are still at an above-average risk of flooding, including the Great Lakes and Ohio River Valley regions. Researchers are anticipating less severe flood risk for the eastern half of the continental U.S. this spring, but also anticipating yet another above-average Atlantic hurricane season that warrants risk assessment and insurance considerations sooner than later.

Are Your Customers Protected?

When working with your customers, it is important to consider the following:

  • One out of every four of your customers will likely experience a flood event. In areas of moderate- to high-risk, there is a 26 percent chance of experiencing a flood over the term of a 30-year mortgage.
  • More than 20 percent of flood insurance claims occur in moderate- to low-risk zones where coverage is not lender-required, according to the Federal Emergency Management Agency (FEMA).
  • Flood damage is the nation’s most common and costliest natural disaster, yet less than 20 percent of homeowners are protected.
  • Only one inch of water in a building can cost tens of thousands of dollars in damage. Even minimal flood insurance coverage can protect your clients from directly incurring the cost of such a devastating loss.

Wider Range of Options, Better Coverages with Private Flood Insurance

There has never been a better time to talk with your customers about the risk of flooding and that private flood insurance solutions offer higher limits, broader coverages and more stable and competitive rates than what is available from the National Flood Insurance Program (NFIP).

For more than 25 years, Tokio Marine Highland has been a trusted source for private flood insurance, so you can be confident in our knowledge, underwriting expertise and longevity when presenting your customers with our innovative flood solutions. To learn more about Tokio Marine Highland’s comprehensive flood offerings or to have us quote your potential target risks, visit our website or contact us at PrivateFloodSolution@tmhighland.com.

Tokio Marine Highland Adds Fine Art to its Suite of Specialty Insurance Offerings

Chicago, October 11, 2021 – Tokio Marine Highland, a leading property and casualty underwriting agency, announced today it has successfully launched fine art insurance for personal and commercial risks, further enhancing its broad suite of specialty risk management solutions.

Christiane Fischer was appointed President of the Fine Art Division, responsible for providing strategic leadership and delivery of the company’s custom insurance solutions for the fine art market, including art dealer, exhibition, museum, and private and corporate collection coverages. An experienced authority on fine art insurance, Fischer previously served as President & CEO at AXA Art Insurance Corporation from 2004 to 2019, growing the company into a market leader during her tenure.

“Christiane’s reputation and deep expertise are highly respected in the fine art world,” said Pat Blandford, Chief Executive Officer of Tokio Marine Highland. “Her leadership and the team she is building will position Tokio Marine Highland at the forefront of the fine art insurance space. Our legacy has been built on serving niche, specialty insurance markets, and this new product line is a perfect complement to the innovative products and services our customers have come to know and expect.”

“I am very passionate about the fine art insurance world and I’m eager to join an organization in the midst of an exciting transformation,” Fischer said. “We look forward to providing brokers with custom solutions to meet the complex needs of their clients, and offering top-notch service and hands-on claims management. We have a highly qualified team who share my commitment in providing the best fine art insurance experience in the industry.”

Fischer is a member of the board of trustees of the Isamu Noguchi Museum of Art, the International Foundation for Art Research (IFAR), the Conservation Center, the Conservation Council of the Solomon R. Guggenheim Museum, and the National Jewelry Institute.

Founded in 1962, Tokio Marine Highland (formerly WNC Insurance Services) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, rated A+ by Standard & Poor’s for financial strength, and a member of the Tokio Marine Group.

About Tokio Marine Highland

Tokio Marine Highland is a leading property and casualty underwriting agency that offers distinct specialty risk management solutions, including private flood, construction, fine art, specialty property, real estate investment and lender-placed insurance. Tokio Marine Highland also includes Precise Adjustments, a wholly owned subsidiary that provides industry-leading claims capabilities.

Founded in 1962, Tokio Marine Highland Insurance Services, Inc. (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, rated A+ by Standard & Poor’s for financial strength, and a member of the Tokio Marine Group. Tokio Marine Highland’s home office is located in Chicago, IL, with operating centers in Dallas, TX, Irvine, CA, Miami, FL, Naperville, IL, and South Pasadena, CA.

For more information, visit our website at www.tokiomarinehighland.com.

Media Contact:

Joshua Clifton
Vice President, Marketing and Communications
312-736-2351 (office)
773-230-1304 (mobile)
joshua.clifton@tmhighland.com

Tokio Marine Highland Featured in October Issue of FinTech Magazine

Chicago, October 4, 2021 – Tokio Marine Highland is featured in the October issue of FinTech Magazine, a “digital community” for the financial technology industry. In this exclusive interview, CEO Patrick Blandford discussed the company’s rebrand, digital transformation, and cultural alignment. The following is an excerpt of the feature. View the full article by visiting the FinTech Magazine website.

A mainstay in U.S.-based property and casualty underwriting (P&C), Tokio Marine Highland has nurtured a storied industry reputation based on the breadth and quality of its specialty risk management solutions, such as private flood, construction and lender-placed products.

Originally founded as WNC Insurance Services in 1962, Tokio Marine Highland recently opted to rebrand in order to capitalize on the brand prestige of its parent company Tokio Marine Kiln (itself part of Tokio Marine Holdings), which completed its acquisition of WNC in 2018. “It’s really enhancing the reputation that we’ve already built as WNC,” explains Joshua Clifton, Vice President of Marketing and Communications. “We see this as a great opportunity to enter new markets, attract talent, and seek new acquisitions and capacity partners.”

At the helm guiding the company through this exciting time is Patrick Blandford, CEO, who originally joined in 2004 as a board member and took on the CEO role in 2018. Characterizing his role as assembling the best team possible and overseeing Tokio Marine Highland’s overall performance, Blandford emphasizes that achieving the dual objectives of digital transformation and “to be a good company” (the official Tokio Marine philosophy) remain his top priorities. “I saw [at Tokio Marine Highland] the opportunity to preserve a very strong entrepreneurial culture, but one that is backed by the strength and resources not only of Tokio Marine Kiln but also the broader Tokio Marine Group. This has been the most rewarding challenge of my career so far,” he says.

In this new market, “the experience” of a company has become a strong metric for quality and competitive differentiation. Kiran Achen, CIO, believes that driving Tokio Marine Highland’s wholesale digital transformation will be crucial for pursuing this new focus; advantages gained elsewhere will be fleeting. “For me, the insurance industry is the last frontier that hasn’t yet been disrupted. There is now an opportunity for carriers like us to partner with insurtechs, hire the right talent, and actually disrupt the industry from within.”

Tokio Marine Highland’s digital transformation journey began in earnest in early 2018. The first step, according to Blandford, was shaping the leadership team and assembling resources in order to create a foundation of expertise and technical infrastructure. Unlikely assistance came in the form of COVID-19, which, despite its obvious negative impact, actually helped concentrate the company’s efforts. “I think of 2020 as the year that we turned the corner,” he states. “The unfortunate environment enabled us to spend less time-fighting fires and more time bringing our larger team into the transformation efforts.” Centering the change around robust data-driven insights, exceptional client interfaces and automated operations, Chief Analytics Officer Nirav Shah and Achen state that a special emphasis was placed on the cloud, low-code/no-code platforms, open-source, smart systems, AI (artificial intelligence) and ML (machine learning).

“We’ve rolled out a new digital platform housing our difference in conditions (DIC) product,” says Tim Reilly, Senior Director of Digital Distribution. “Essentially, this platform enables straight-through processing for earthquake and landslide coverage. We’re also in the middle of a soft launch for our new flood product, which will be housed on the same platform.”

About Tokio Marine Highland

Tokio Marine Highland is a leading property and casualty underwriting agency that offers distinct specialty risk management solutions, including private flood, construction, fine art, specialty property, real estate investment and lender-placed insurance. Tokio Marine Highland also includes Precise Adjustments, a wholly owned subsidiary that provides industry-leading claims capabilities.

Founded in 1962, Tokio Marine Highland Insurance Services, Inc. (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, rated A+ by Standard & Poor’s for financial strength, and a member of the Tokio Marine Group. Tokio Marine Highland’s home office is located in Chicago, IL, with operating centers in Dallas, TX, Irvine, CA, Miami, FL, Naperville, IL, and South Pasadena, CA.

For more information, visit our website at www.tokiomarinehighland.com.

About FinTech Magazine

FinTech Magazine is the “digital community” for the financial technology industry. FinTech Magazine covers banks, challenger banks, payment solutions, technology platforms, digital currencies and financial services – connecting the world’s largest community of banking and fintech executives. FinTech Magazine is published by BizClik Media Group, a U.K.-based media company with a global portfolio of leading industry, business and lifestyle digital communities. BizClik’s portfolio includes Technology & AI, Finance & Insurance, Manufacturing & Supply Chain, Energy & Mining, Construction, Healthcare, Wireless Communications & Data Centers. For more information, please BizClik’s website.

Media Contact:

Joshua Clifton
Vice President, Marketing and Communications
312-736-2351 (office)
773-230-1304 (mobile)
joshua.clifton@tmhighland.com

WNC Insurance Services Rebrands to Tokio Marine Highland

Chicago, September 13, 2021 – WNC Insurance Services, a leading property and casualty underwriting agency, announced today that it has rebranded to Tokio Marine Highland. The evolution reflects the company’s strategic growth in the marketplace and significant investment in talent, infrastructure and technology that has fueled its digital transformation since being wholly acquired in 2018 by Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market and rated A+ by Standard & Poor’s.

The move will enable Tokio Marine Highland to enter new product classes, introduce its brand to new audiences and create a seamless customer experience, all while reaffirming its commitment to being a trusted partner and industry-leading provider of private flood, construction, fine art, specialty property, real estate investment and lender-placed insurance solutions.

For decades, WNC Insurance Services has built a reputation for sustained underwriting profitability, placing more than $2.5 billion into the Lloyd’s of London insurance market with a top-quartile return. Now, Tokio Marine Highland combines that long history of underwriting excellence with the global strength of the Tokio Marine brand.

Pat Blandford, CEO

“Throughout our nearly 60-year history, we have been known for our expert product design and ability to identify market opportunities, all of which is customer-driven and customer-led,” said Pat Blandford, Chief Executive Officer. “Ultimately, this has produced excellent underwriting results.”

Blandford said he is optimistic for what the future holds for Tokio Marine Highland.

“Tokio Marine Highland is the marriage of a fast-moving, entrepreneurial firm with a forward-thinking and well capitalized corporate parent in Tokio Marine Kiln, which has been our lead market for the past 40 years,” he said. “This relationship allows us to future-proof our business and take a long-term perspective. We have a tremendous ability to tap into resources, not only globally, but also in the U.S., and we’re investing in our business today by thinking about how we want to look in 10 years. That’s very exciting for me, and it positions Tokio Marine Highland for future success.”

About Tokio Marine Highland

Tokio Marine Highland is a leading property and casualty underwriting agency that offers distinct specialty risk management solutions, including private flood, construction, fine art, specialty property, real estate investment and lender-placed insurance. Tokio Marine Highland also includes Precise Adjustments, a wholly owned subsidiary that provides industry-leading claims capabilities.

Founded in 1962, Tokio Marine Highland Insurance Services, Inc. (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, rated A+ by Standard & Poor’s for financial strength, and a member of the Tokio Marine Group. Tokio Marine Highland’s home office is located in Chicago, IL, with operating centers in Dallas, TX, Irvine, CA, Miami, FL, Naperville, IL, and South Pasadena, CA.

For more information, visit our website at www.tokiomarinehighland.com.

Media Contact:

Joshua Clifton
Vice President, Marketing and Communications
312-736-2351 (office)
773-230-1304 (mobile)
joshua.clifton@tmhighland.com