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Although the accelerated pace of Covid-19-induced digital disruptions has led to seismic changes in business operations across industries, their impact is expected to be the most pronounced in the financial services and insurance domains.
Poor claims experiences could put up to $170 billion of insurance premiums at risk in the next five years, with process inefficiencies in underwriting potentially risking another $160 billion over the same period, according to a new report from Accenture.
The H1 2022 financial results are in for AXA and CEO Thomas Buberl has credited the insurance giant with delivering “a strong performance in the first half of 2022, reflecting the strength of our operating model in a more challenging environment.”
A truly global commercial and consumer insurer, Chubb is driving digital transformation across the digital and insurance marketplace globally.
Cowbell Cyber, a provider of cyber insurance for small and medium-sized businesses, has announced the launch of its product on the Amwins Professional Lines portal.
In today’s environment, marked by sky-high inflation, market volatility and overall business complexity, insurers are working tirelessly to assess and manage new levels of risk.
An increase in inflationary pressures such as the rise in gas prices, the acceleration of extreme climate events and the soaring cost of manufactured goods have caused insurance rates to rise to record levels this year.
The firm claims that Anthemis led the round, which was also supported by SoftBank Group’s SB Opportunity Fund, Banco Popular, the largest bank in Puerto Rico, Consorcio, 305 Ventures, a Miami-based venture capital firm, and first-check investor Divergent Capital.
The recent Qorus Accenture Innovation in Insurance Awards highlighted the world’s leading insurance changemakers. The winners of each category stood up against tough competition with initiatives that were not only innovative, but effective and with measurable impact.
Insurers should continue to embrace technological change, writes Laurent Rousseau, CEO of SCOR in French newspaper Les Echos.
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