Intelligent Insurer News

Some 1.4 million dogs across the UK have been injured by a stick, reveals new research by Direct Line Pet Insurance, which urges dog owners to use a safe, specially designed eco-friendly throw toy instead.

Munich Re has made a consolidated profit of approximately €850 million in the third quarter, despite high major-loss expenditure.

Global broking business Brokerslink and Swiss Re Corporate Solutions are to develop a dedicated international insurance programme management platform for the organisation’s broker network.

US insurers face a unique set of challenges as they consider their growth strategies. Tom Hettinger of Guy Carpenter explains his company’s innovative tool GC Mosaic which helps clients make better growth decisions based on analytics and real data, to Intelligent Insurer.

Insurers’ pricing has picked up in 2019, and this will continue into 2020, as companies look to address recent weak profitability, according to the insurance analyst team at RBC Markets

Women in Reinsurance (WiRe), the organization for professional women employed in the Bermuda reinsurance sector, has appointed Peta White as chair of the Board.

Davies, an operations management, consulting and digital solutions provider, has acquired Alternative Service Concepts (ASC), a workers’ compensation and property and casualty third party administrator (TPA) headquartered in Nashville, Tennessee.

Blockchain should be viewed as a “team sport” by the risk-transfer industry as opposed to a specific technology; more a way of connecting companies and people and gaining efficiencies.

Reinsurance trust agreements have gradually grown in usage by the industry over the past two decades, which is also the length of time that Robert Quinn, vice president in the insurance collateral solutions team at Wilmington Trust, has been working in this sector. He sat down with Intelligent Insurer to discuss how the sector has changed in that time and how he turns challenges into opportunities.

As reinsurers and buyers begin their annual negotiations leading to the year-end renewal, there seems to be a consensus that the losses of recent years will lead to rate increases as long as this applies to those other buyers, as Intelligent Insurer finds.

More life insurance businesses are starting up than general insurance (GI) businesses, according to analysis by Policy Expert, the digital home insurer.

The 16th Singapore International Reinsurance Conference (SIRC) promises an agenda filled with top re/insurance execs from the region discussing this year’s theme: Winds of Change.

London-based insurance start-up Dinghy has announced the appointment of Dorian Zanker as chief executive as part of its strategy to accelerate its growth in the UK and international freelancer business insurance market.

Marine insurer Gard has appointed Christian Pritchard-Davies as its chief financial officer, effective from January 1 2020. He is currently vice president - head of infrastructure and operations at Gard.

Even after years of experience, senior underwriters can still spend a large part of their day doing the administrative tasks that they were taught early in their careers. AntWorks, a global artificial intelligence (AI) and intelligent automation company, can transform the way they spend their time.

“There’s a joke in the insurance industry that ‘smart contracts’ are neither smart nor a contract,” said Ronnie Kher, business development director at insurtech firm R3, with a smile as he went on to debunk this myth.

Amid the cacophony of noise and hype around the insurtech sector and its potential to revolutionise the risk transfer industry, participants would do well to take a step back occasionally and consider some of the human implications of the changes facing the industry—and how they might better understand those.

Rigid internal structures are the biggest obstacle preventing insurers from embracing new data analytics systems, according to Todd Rissel, CEO of e2Value.

Insurers should look to Amazon’s relationship with its customers for inspiration about how they should interact with their customers, according to Jocelyn Getson, head of SMB strategy and innovation at Slice.

Insurers that are late to integrate application program interfaces (APIs) and artificial intelligence (AI) into their offerings will suffer adverse selection scenarios over time, according to Hamzah Chaudhary, director of deployment at Cytora.