Business News: Progressive, MEMIC, Flood Risk America

The Progressive Group of Insurance Companies plans to fill more than 1,300 roles by the end of 2016. They include IT and analyst roles, as well as customer care and claims roles across the country.

Progressive intends to continue hiring top caliber technology and analytics professionals in Innovation Services, a multi-pronged effort consisting of four pillars including its Business Innovation Garage (BIG). BIG is an internal think-tank open to employees, enabling them to set up and run experiments, design and build prototypes, uncover results, and share key learnings for various business solutions.

Progressive offers employees the opportunity to work on developing and refining programs such as Snapshot, its usage-based insurance program. The company also recently teamed up with app developer TrueMotion to create the software for Snapshot mobile, which is slated to roll out in select states later this year.

In addition to IT and analyst roles, Progressive is hiring for key roles in inbound sales and customer service roles, which are critical to helping customers find the right policy for them, providing service throughout the policy ownership experience, or assisting customers with their claims.

Roles are available at the following locations:

Workers’ compensation specialist The MEMIC Group announced today that it will issue a record dividend of $20 million to about 18,000 Maine policyholders this November.

The amount represents 15 percent of premium paid by Maine policyholders in 2013, the qualifying year for this dividend declaration, and the largest percentage of premium MEMIC has ever returned. With this declaration, the MEMIC Board of Directors has authorized the return of approximately $220 million to Maine policyholders since 1998. The company has issued a dividend in each of the last 12 years and the record $20 million dividend is 54 percent more than was returned just four years ago in 2012.

The dividend will be paid to employers who buy their workers’ compensation insurance coverage from The MEMIC Group’s mutual company, Maine Employers’ Mutual Insurance Company, based in Portland. Checks will be delivered in November and payments will range to more than $200,000, depending on the amount of premium an employer paid in 2013.

Flooding to any building can cause extensive damage, but elevators tend to be the most susceptible because the pits of an elevator are usually one of the lowest points in a building, giving rise to floodwaters. Some insurers won’t pay the entire claim if the insured fails to send the elevator cab to the second level, leaving not only the elevator, but also the building and businesses out of service.

Flood Risk America is launching its new Flood Sensory System and Flood Panel Barriers for elevators and control room doors. Mounted in the elevator shaft and control rooms, the flood sensory system will identify any floodwater 24/7. If flooding occurs, the flood sensory system notifies Flood Risk America’s monitoring center in real-time and sends the elevator cabs to the next highest floor.

The Flood Panel Barriers use a patented flood seal technology to protect elevators and control room doors against rising floodwater. This device creates a sealed barrier around the elevator doors, preventing water from entering. Each panel is specifically designed to create a customized fit, along with an extremely strong structure to protect elevators and control rooms against flooding.