Business News: Berkley Re Solutions, Roost, Pie

Berkley Re Direct announced today that it has changed its name to Berkley Re Solutions. On the evolution of the operating unit’s name.

The culture at Berkley Re Solutions encourages all employees to identify customer needs and participate in the design and delivery of custom turnkey solutions which are a complete reinsurance offering including policy forms, underwriting guidelines, rating plans, filing support and quota-share reinsurance options. These are all coupled with training, service and marketing for a variety of unique specialty products.

The new name is effective immediately, and will be implemented across the operating unit’s products and services.

Roost, a home telematics provider for the property insurance market, announced a second generation of its Roost Smart Battery and Roost Smart Water Leak and Freeze Detector. Enhanced with new electronics and upgraded Wi-Fi provisioning allowing consumers to experience faster and easier setup along with next level performance and reliability.

Via its familiar 9V form factor, free mobile app and advanced Wi-Fi technology, the Roost Smart Battery transforms existing smoke and carbon monoxide alarms into smart alarms. The Roost Smart Water Leak and Freeze Detector senses water leaks as well as humidity and freezing temperature situations. It can easily be located in places around the home that are most prone to water leaks, and from there delivers smartphone alerts through the Roost App to help minimize water damage and loss. Both smart Wi-Fi enabled detectors set up in less than 5 minutes.

Enhancements to Roost’s Second Generation Products:

• Easier as well as faster set-up to home Wi-Fi;
• New set-up process replaces audio with a silent wireless connection method;
• New electronics improve performance and lower power consumption.
• Improved reliability and more robust connection between Roost devices and the Roost cloud.

The second generation Roost Smart Water Leak and Freeze Detector ($49.99) is available now, with the upgraded Roost Smart Battery ($34.99) available in mid-November. Consumer can purchase Roost products at Getroost.com. Insurance providers can contact Roost’s Jim Strickland at strickland@roostlabs.com for availability.

Pie Insurance, a digitally-enabled direct distribution workers’ compensation insurance business, launched at InsureTech Connect. The company’s initial offering is an interactive Price Predictor tool that allows small to medium-sized businesses (SMB) improved insight into their workers’ compensation insurance rates.

In 2018, Pie will begin offering its own A.M. Best “A” rated insurance policies.

The Pie Price Predictor tool is tailored for SMBs, assessing the range each business should be paying for insurance and the market average from a few user-submitted pieces of information. It leverages proprietary pricing algorithms and is powered by Valen Analytics, an Insurity company.

Pie just closed its $4.3 million Seed Round of funding.