Of Special Interest


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27th October 2019

Newslink Global Insurance Trends-Editor's Weekly Overview

This week, two InsurTech reports were published-worldwide InsurTech funding has already surpassed 2018 full year, according to the Willis Towers Watson latest quarterly briefing, and FinTech Global announced the second annual list of the world’s most innovative technology solution providers for the global insurance industry. SAS is enhancing its easy-to-use artificial intelligence(AI) solutions to help organisations improve efficiency and quickly realise value with automation-particularly in insurance, Munich Re outlined its data analytics and artificial intelligence initiatives, and Quantemplate reported closure on more than $12m in a recent funding round. Ebix said it has facilitated over $20bn of premiums for Willis Towers Watson’s Accounting Platform over the last four years. LV= General Insurance renewed its use of the Verisk Xactimate claims estimation tool and the real-time claims management solution XactAnalysis, whilst Verisk is developing its new life insurance solutions in collaboration with PartnerRe-using advanced voice analytics and artificial intelligence to transform underwriting and the customer experience. Another Verisk company, AIR Worldwide estimated industry insured losses from Typhoon Hagibis at $8bn-$16bn.
EIOPA launched a call for research proposals, and Insurance Europe opposed an EU initiative on insurance guarantee schemes(IGS). An Ecclesiastical UK broker survey showed nearly half aren’t aware of the impending introduction of the Senior Management and Certification Regime(SMCR), and the latest J.D.Power US Auto Claims Satisfaction Study found that insurers are rising to the challenge by delivering the highest levels of customer satisfaction ever catalogued.
Prudential completed the demerger of M&G. AIG is to launch a new syndicate at Lloyd’s serving the specialist US high net worth market, and Beazley is making a strategic investment in Hong Kong-based coverholder, Pegasus Underwriting, Latest financials reported included Travelers, Munich Re, and SCOR; Aon and Gallagher. There were senior appointments at Fidelis and Markel International.

Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
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