5th June 2022

Newslink Insurance Global Trends-Editor's Weekly Highlights
Trend

This week, two years into the COVID-19 pandemic, a new Swiss Re Institute survey among 11,000 consumers worldwide shows that the pandemic has led to a greater focus on health and financial security-this has resulted in more online insurance purchases and a greater willingness to share personal health data, especially among the younger generation. GlobalData highlighted that UK motor insurers finding ways around Financial Conduct Authority(FCA) reforms mean nearly two thirds of UK customers face higher premiums-separately, the researcher estimated that the sector would reach £26bn in premiums by 2026. GlobalData also reported that the life insurance industry in Asia-Pacific recorded its highest growth of 7% over last five years in 2021, and the general insurance industry in India is estimated to grow at 9.9% CAGR by 2026.
Insurance Europe published its 2021-2022 Annual Report, and launched a Diversity & Inclusion Hub. A speech by Insurance Europe president, Andreas Brandstetter, emphasized that policymakers, insurers and the public must work together to tackle protection gaps.
FRISS and Legentic announced a partnership to better fight insurance fraud, whilst travel and health insurTech, PassportCard, was granted a US patent for its real-time claims payout through a debit card which gives customers access to a global and 100% cashless insurance service. Mactavish reported a 95% increase in revenue and an ambitious growth plan powered by technology. Bristol Digital Futures Institute(BDFI) announced a new partnership with UK personal lines insurer LV= General Insurance-together, the insurer and academic research hub will collaborate on the development of sustainable, inclusive and prosperous digital technologies.
The Allianz Group agreed to sell a majority stake in its Russian operations to Interholding LLC, the owner of Russian P/C insurer Zetta Insurance. SCOR successfully sponsored a new catastrophe bond, Atlas Capital Reinsurance 2022 DAC, which will provide the Group with a multi-year risk transfer capacity of $240m to protect itself against named storms in the US and earthquakes in the US and Canada, as well as European windstorms. Acrisure secured $725m additional funding. Randall & Quilter(R&Q) reported gross written premiums(GWP) up by over 90% to $370m for the first quarter.






-NEWSLINK GLOBAL TRENDS DATABASES-A STRATEGIC PERSPECTIVE-
REGISTER FOR A 14 DAY FREE TRIAL TO ASSESS OUR GLOBAL TRENDS SELF-SERVICE AND CREATE SPEEDY REPORTS at onlystrategic.com

Increasingly, financial services companies and their regulators are taking a global view as instant communications make the world a smaller place and are accelerating the maturity of developing countries. Insurance Newslink 29 years ago predicted this trend and over that period of time has uniquely brought together strategic intelligence from source across all insurance/reinsurance markets and related IT/InsurTech trends into an internet-based Research Matrix database self-service and reporting facility. As technology and analytics progresses, with such advances as machine learning, artificial intelligence, and dispersed digitisation uplift following the COVID-19 pandemic, the service will play an increasingly important role in adding value to internal company analytics in a global market context.
Today, Insurance Newslink has over 55,000 expertly selected articles from source indexed across a Matrix of date, continent /country, company, regulatory, company, research/publications, and IT applications by business function. Our Banking Newslink Global Trends service commencing in 2000 has over 35,000 articles, and Financial Newslink combines both services at www.onlystrategic.com
Insurers, reinsurers and banks need to know about each other’s positioning and IT suppliers of all types and sizes need to understand the key business and regulatory issues and opportunities. The surge of InsurTech, FinTech and digitisation initiatives have emerged from all over the globe-only a few years ago, the Chinese were finding out about progress in the US and Europe and could well now be ahead of the field. Speedier change is impacting the mind-set of the customer/consumer.
The service acts as a strategic catalyst enabling quicker, better decisions across market players and suppliers bringing global market,IT, and regulatory trends together, adding value for student through to CEO.
Our content is read broadly equally across The Americas, Europe, and Asia Pacific by all ranges of management and we are increasing the number of distribution partners. Our service is available from a single user to a corporate subscription.
For the past 40 years, we have worked with over 100 market players and major technology suppliers-go to our consultancy site-Shillito Market Intelligence Ltd at www.shillito.org.uk for more background and a list of some of our clients. For the last 29 years, our Newslink Global Trends Research Database has been proven as the core content for our numerous white papers, university business school lecturing, training, speaking, and chairing events globally.