Of Special Interest

Filters

[x] [x]

18th December 2022

Newslink Global Insurance Trends-Editor's Weekly Highlights
Trend

This week, the 2022 Global Insurance Market Report(GIMAR) presented outcomes of the Global Monitoring Exercise(GME), the IAIS’ framework for monitoring risks and trends in the global insurance sector and assessing the possible build-up of systemic risk. Bermuda International Long Term Insurers and Reinsurers(BILTIR) welcomed the decision of the Bermuda Monetary Authority(BMA)to make targeted enhancements to regulatory and supervisory regimes for commercial insurers. Insurance Europe said that European Commission(EC) proposals for liability framework could increase legal uncertainty, but reduce affordability and availability of insurance cover, and separately said there was no need to develop an extensive recovery and resolution framework for insurers.
Forrester’s European Insurance-CX Index 2022(Customer Experience) said that CX quality in the UK has climbed back to 2019 levels, whilst Guidewire reported that UK insurance customers want convenience and climate action, but it must be built on trust. Sapiens announced with LocalTapiola(LT), Finland’s second largest insurance company, the launch of the new Policy Administration System. Ardonagh Specialty reinforced its US Flood and Wildfire capabilities in a new agreement with RMS, and Howden Group is to simplify cybersecurity insurance compliance with Silverfort’s Unified Identity Protection.
Munich Re announced profit guidance per IFRS 17 of E4bn for 2023. S&P Global Ratings placed its ratings on Finnish life insurer Mandatum Life on CreditWatch with negative implications and RiverStone International announced a Loss Portfolio transfer deal with AXIS Capital. There were senior appointments at the IUA, Lloyd's, Canopius, Fidelis, Munich Re, and WTW. Skuld reported a positive nine-month result in a benign claims environment.



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 30 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 56,000 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 36,000 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.