‘A pretty big deal:’ Insurance regulator boosts Missoula-based ALPS rating to A

(Missoula Current) A Missoula-based insurance firm with a nationwide attain noticed its monetary energy upgraded by AM Best this week from A- to A, marking a big achievement within the trade.

ALPS, headed by president and CEO David Bell in Missoula, supplies authorized skilled legal responsibility insurance for smaller legislation corporations, although AM Best mentioned the corporate is geographically diversified.

According to The Insurer, AM Best additionally famous that ALPS administration has devoted important sources to develop “pricing and data analytics capabilities, including its risk management algorithm and straight-through processing applications.”

“These resources enable ALPS to manage and price risks effectively while maintaining a scalable expense structure, contributing toward profitable growth,” AM Best wrote in its findings. “Through these efforts, the company is leveraging technology to improve overall operating results and the customer experience.”

Bell, who additionally serves as a board member for the Missoula County Airport Authority, joined ALPS in 2012 after a decade at Allied World, the place he was a founding govt and served as chief working officer.

ALSP relies within the Florence Building in downtown Missoula.

“When the de facto regulator of insurer solvency (AM Best) moves a carrier from A- to A, it’s a pretty big deal,” Bell instructed the Missoula Current. “It happens once in a career lifetime.”

Bell credited the ALPS group in Missoula for the achievement.

“This international insurance industry news is the product and result of hard-working people in Missoula,” he mentioned.