Tokio Marine Highland

Josh Clifton

CIO Kiran Achen Discusses Cloud Innovation on Podcast

The technology landscape is fast-changing, and as customer demands shift, companies require strategies that help them stay agile. Listen to Tokio Marine Highland’s Kiran Achen, Chief Information Officer, discuss how the cloud is fostering innovation in today’s insurance industry on an episode of PropertyCasualty360’s InsurTech Podcast Series.

Kiran is responsible for defining and implementing a technology strategic vision aligned to Tokio Marine Highland’s growth and performance goals. He has oversight of the technology organization and all technology initiatives.

2020 Best Places to Work in Insurance Winner

Tokio Marine Highland has been named one of Business Insurance’s Best Places to Work in 2020. The annual award recognizes outstanding employers in the insurance industry who have established workplaces where employees can thrive, enjoy their work and help their companies grow.

“I’m very proud that we have achieved this honor,” said Patrick Blandford, Chief Executive Officer. “Our employees lie at the heart of our organization, and every member of our team has played a role in building the culture we have today, where everyone is valued, engaged and empowered, and provided with the opportunities to enhance their skills and build rewarding careers. This exemplifies our values and how we strive to deliver on Tokio Marine’s philosophy ‘To Be a Good Company’ by doing right by our customers, our communities and our colleagues.”

Founded in 1962, Tokio Marine Highland (formerly WNC Insurance Services) is a leading property and casualty underwriting agency that offers a broad suite of trusted, industry-leading specialty risk management solutions, including private flood, construction and lender-placed products. Tokio Marine Highland 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.

Best Companies Group identifies winning employers by conducting a two-part assessment of each company, which includes a questionnaire completed by the employer about company policies, practices and demographics, and a confidential employee survey on engagement and satisfaction. Tokio Marine Highland’s ranking and profile will be featured in the October issue of Business Insurance.

Tokio Marine Highland Prepared to Manage Claims During Pandemic

June marks the beginning of hurricane season. While anticipated higher-than-normal storm activity is always a cause for concern, this year, state officials and insurance providers are potentially facing a unique set of challenges in managing claims and public safety in the midst of the COVID-19 pandemic.

Tokio Marine Highland, a leader in the private flood insurance market for more than 25 years, has taken appropriate steps to prepare for such a scenario and ensure that insureds, agents and brokers receive the dedicated support and personalized service they have come to expect. Through Tokio Marine Highland’s wholly owned claims administrator, Precise Adjustments, experienced adjusters are equipped with the resources and tools to manage claims promptly in any situation.

“Our robust continuity plan ensures we are adequately staffed and that our field adjusters have the voice and data systems they need to work in any remote environment,” said Jeff Garretson, Chief Claims Officer. “Precise utilizes a direct web-based communication adjustment process through a custom portal to facilitate both claim speed of handling and customer metric reporting. All of our field resources are also prepared to comply with any local, state and federal COVID-19 guidelines.”

Tokio Marine Highland’s compliance team developed a pandemic questionnaire for all companies and individual contractors who work with the Precise Adjustments team to ensure their understanding of guidelines for personal protective equipment, social distancing and other measures that have been put in place to prevent the spread of COVID-19. In addition, all companies and contractors were required to provide Tokio Marine Highland with updated business continuity plans.

Lauren Savage, President of Tokio Marine Highland’s Private Flood Services Division, said the seamless collaboration with the Precise Adjustments team enables claims to be closely managed every step of the way.

“The value of our integrated model is speed to service,” she said. “The claims team is able to respond faster and more effectively with earlier notification of loss and the ability to tap into the long-standing client relations of Tokio Marine Highland. The steps we have taken to address potential COVID-19 scenarios are another way to deliver on our commitment to our clients and ensure peace of mind in these challenging times.”

Tokio Marine Highland provides a wide range of innovative private flood solutions with higher limits, broader coverages and more stable and competitive rates than what is available from the National Flood Insurance Program (NFIP). To ensure the right coverage for your insureds this hurricane season, visit our website or contact us today at PrivateFloodSolution@tmhighland.com to have us quote your potential target risks.

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.

Follow Tokio Marine Highland on LinkedIn.

Media Contact:

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

Early Forecasts Predict Busy Hurricane Season

June brings with it plenty of reasons to celebrate, including warmer weather, longer days and the end of the school year for many. But for millions of Americans, June 1 also means the beginning of hurricane season. Early forecasts by Colorado State University (CSU) are projecting higher-than-normal storm activity this year due to warm waters and atmospheric patterns. This is likely to lead to an above-average number of major hurricanes, as well as an increased probability of hurricane landfall in the Atlantic basin.

CSU’s 2020 modeling predicts 16 named storms and eight hurricanes, with four of those expected to be major hurricanes (Category 3 or above). The chance of one of these major storms making landfall along the U.S. coastline is estimated at 69%, or 130% of the 30-year average. These forecasts put 2020 hurricane activity above last year’s early estimates for 2019.

Are Your Clients Prepared for Hurricane Season?

It only takes one hurricane making landfall to cause major damage, and it’s impossible to say exactly when or where a hurricane will strike. Coastal property owners should always be prepared for an active hurricane season. And with hurricane season comes an increased risk of flood damage caused by heavy rains, storm surges and inland flooding.

The best time to talk to your clients about flood insurance is before hurricane season strikes. Flood damage is not covered by traditional homeowners and property policies, leaving 80% of property owners unprotected. Yet even minor flooding can cause major damage, with an inch of water potentially costing tens of thousands of dollars.

Private Flood Insurance Offers a Wider Range of Innovative Solutions

Private flood solutions offer higher limits, broader coverages and more stable and competitive rates than what is available from the National Flood Insurance Program (NFIP). With over 25 years of industry-leading expertise, Tokio Marine Highland provides a wide range of innovative private flood solutions to ensure the right coverage for your insureds this hurricane season.

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.

April Showers Bring Risk of Spring Flooding

While many of us are currently spending unprecedented amounts of time indoors, spring is still quickly approaching. The change in seasons brings warmer weather and longer days, which also presents the threat of heavy precipitation, snow melt and risk of flooding.

Forecasters from the National Oceanic and Atmospheric Administration (NOAA) are predicting widespread flooding this spring, even if it is not expected to be as severe as the 2019 season. According to NOAA, above-average rainfall is anticipated in the central and eastern U.S., and the National Weather Service’s outlook warns that the risk of flooding could potentially affect 23 states and 128 million citizens.


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.