Earnings wrap: Cumberland, First Acceptance

Drug marketer Cumberland Pharmaceuticals lost $832,000 in its third quarter, reversing a year-ago profit of $1.9 million. Revenues were $6.5 million versus $12.5 million but operating expenses fell just 16 percent to $8.0 million. Through the first nine months of this year, the West End-based company generated just $940,000 in cash flow from operations versus more than $45million in 2012.

 
Automotive insurer First Acceptance posted a third-quarter profit of $2.1 million. That down from $3.4 million a year earlier but that quarter included more than $3 million in investment gains. The Green Hills company saw its combined ratio — which measures premiums relative to losses and operating expenses — fall to 96.3 percent from 99.9 percent the year before. The company's number of policies in force has climbed almost 7 percent this year to more than 157,000.

Nov 7, 2013 11:46 AM

Direct rolls out quote kiosk

Local auto insurer Direct is preparing to take a kiosk it's been testing in a handful of its local stores to the broader market. Direct executives are promising that consumers can get policy quotes in a minute and be insured in five. They plan to install the kiosks at area retailers such as supermarkets, gas stations and car dealers, among others.

“Our DOTS kiosks represent a monumental leap forward for Direct and the insurance industry, streamlining the path to insurance like no system before,” said Josh Jarrett, Vice President of Product Management at Direct. “We want to change the way our customers think of their insurance company, and by deploying our kiosks on a large-scale, delivering quality auto insurance in seconds, we aim to meet and exceed their expectations for a fast, simple, and, above all, convenient way to find and pay for insurance.”

“Our DOTS kiosks represent a monumental leap forward for Direct and the insurance industry, streamlining the path to insurance like no system before,” said Josh Jarrett, Vice President of Product Management at Direct. “We want to change the way our customers think of their insurance company, and by deploying our kiosks on a large-scale, delivering quality auto insurance in seconds, we aim to meet and exceed their expectations for a fast, simple, and, above all, convenient way to find and pay for insurance.” - See more at: http://stage-www.directgeneral.com/Direct-on-the-spot-Kiosk.aspx#sthash.VABK3rVr.dpuf
“Our DOTS kiosks represent a monumental leap forward for Direct and the insurance industry, streamlining the path to insurance like no system before,” said Josh Jarrett, Vice President of Product Management at Direct. “We want to change the way our customers think of their insurance company, and by deploying our kiosks on a large-scale, delivering quality auto insurance in seconds, we aim to meet and exceed their expectations for a fast, simple, and, above all, convenient way to find and pay for insurance.” - See more at: http://stage-www.directgeneral.com/Direct-on-the-spot-Kiosk.aspx#sthash.VABK3rVr.dpuf
Nov 7, 2013 8:46 AM

Wells trims First Acceptance stake

As things stand, Wells Fargo will not show up in the 2014 proxy statement of Green Hills auto insurer First Acceptance. The banking giant this week filed papers with the Securities and Exchange Commission saying it now owns 4.9 percent of First Acceptance, down from 5.2 percent in the spring. Shares of First Acceptance (Ticker: FAC) are up more than 21 percent this year but down 50 percent since 2008.

Oct 11, 2013 12:12 PM

Earnings wrap: Cumberland, First Acceptance

Drug maker swings to loss, insurer to profit
Aug 7, 2013 6:41 AM

First Acceptance names new CFO

Veteran of GM coming over from Nationwide unit
Jul 1, 2013 9:11 AM

Earnings wrap: CCA, First Acceptance

Top line dips at prison manager, grows at auto insurer
May 10, 2013 7:35 AM

Direct General upgrades claims software

Auto insurer Direct General has launched a new claims management software platform that will help it better work with customers frequenting its 500 stores across the Southeast. The Nashville-based company worked with Capgemini to install the software, which was developed by Guidewire out of California.

Mar 18, 2013 10:07 AM

Earnings wrap: HealthStream, First Acceptance

Health education company expanding into post-acute space; auto insurer barely in the black
Feb 27, 2013 7:45 AM

First Acceptance senior VP of finance to resign

Barnett's exit is latest major personnel move at Green Hills-based company
Feb 8, 2013 12:16 PM

Permanent General being bought for $239M

Wisconsin buyer eyes new markets, direct sales channel expertise
Sep 25, 2012 12:55 PM