We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
To provide clients with quicker and better service, you want to simplify your claims operations in insurance; the customer experience matters. If you want to succeed in the industry, you have to realize it’s about streamlining things for an overall satisfactory outcome for them.
Sønr’s chief executive predicts that insurtech M&A will double in 2021 – so far, 45 deals have been completed in the first six months of the year.
Insurers lose billions each year due to losses caused by major catastrophes like earthquakes, floods and storms. In 2020 alone, Aon estimated that insured property losses from natural disasters in the U.S. climbed to around $74 billion in losses, much higher than the 10-year average.
Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in deal that could be valued at €5 billion, according to press reports.
With advancements in technology enabling carriers to leverage data in a more meaningful way, the insurance and reinsurance industry has an opportunity to refocus its thinking, derive greater insights and transform some of the inefficiencies within the business, according to Ian Haycock, Chief Data Officer at Swiss Re.
Total insured losses related to the COVID-19 pandemic in the global re/insurance industry could end up settling close to US$50 billion, according to Zurich-based PeriStrat LLC, which aggregates publicly available loss reports from insurance and reinsurance companies to analyze how COVID-19 losses are developing.
You can add another item to consumers’ pandemic shopping list: life insurance. The number of life insurance policies sold jumped 11% in the first quarter from the same time a year ago, according to the industry research firm Limra.
The COVID-19 pandemic is accelerating the transformational trends impacting the insurance sector and highlighting the need to take bolder actions in areas such as digital capability and effective engagement to address the customer’s needs post-pandemic. Over 90% of companies in the sector report that the changing technology and competitive landscape are directly influencing their divestment plans.
Jérôme Itty knows all too well the challenges of onboarding new hires in a remote work environment. “I’ve experienced it myself,” said AXA XL’s chief operating officer in the Americas.
Like major companies across the U.S., Nationwide executives in the early part of 2021 were discussing the process of repatriating some work-from-home employees to the office as the COVID-19 pandemic receded. That’s when inspiration struck.
Please feel free to send us an email
news@insurtechinsights.com
