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INSURANCE INDUSTRY NEWS
Cyber Insurance Creating False Sense Of Security
Seven in 10 senior financial executives at the world's largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack, according to a survey commissioned by FM Global, one of the world's largest commercial property insurers. Many of the losses the executives foresee, however, are rarely covered by insurance.
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Eight Critical Areas For CX Transformation
Customer experience is an essential component of the transformational journey. In fact, transforming the customer experience is a new and powerful organizational shift that can bring about quantum change. SMA believes that eight customer-experience areas need attention, focus, and investment as your company launches into and matures in CX.
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Zensurance Named A FinTech Start-Up Leader
Zensurance, Canada's breakthrough business insurance platform, has been named one of the country's Top 50 FinTech Companies of 2019 for their continued contribution to Canada's growing FinTech sector.
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Apollo Acquires InsurTech Startup Insura
Apollo Insurance Solutions is pleased to announce it has acquired InsurTech startup Insura, and its founder & CEO, Josh Pillsbury, has joined the Apollo team as a Business Development Manager, Western Region.
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Global M&A At Highest Level In Four Years
Mergers and acquisitions in the global insurance industry increased in the first half of 2019, according to Clyde & Co's Insurance Growth Report mid-year update. This marks the biggest increase since H1 2015 and the fourth consecutive six-month period of growth.
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Consumer Confidence Shaky About The Future
Consumers lack confidence in the future of self-driving vehicles and their outlook on battery-electric vehicles isn't much better, according to J.D. Power. The Mobility Confidence Index is 36% for self-driving vehicles and 55% for battery-electric vehicles.
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UL Guideline On Public Risk Management
Underwriters Laboratories (UL), a global safety science leader, is pleased to announce the publication of a document to provide guidance to organizations accountable for the management of public risk and assist them with risk-informed decision-making to reduce public harm while maximizing public good. It sets out principles and provides guidance regarding the identification, analysis, evaluation and decision-making in the management of public risk.
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FinTech Investment Still Strong In H1 2019
Following a record year in deal volume and value, overall FinTech investment in the U.S. remained strong but dipped during H1 2019, reaching $18.3 billion across 470 deals, powered, in large part, by a strong first quarter of the year, according to KPMG’s H1 2019 Pulse of FinTech report.
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US Auto Insurance Rewards & Incentives
Auto insurance policyholders enjoy incentive programs, own connected devices, and are ready to share personal data in order to gain benefits. It is time for carriers to develop relevant products and enticing rewards programs to increase market share and provide an endless source of data.
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New B2B Sales Approach For The Information Age
Providing prospects with high-quality information and “thought leadership” is no longer a differentiator for sales organizations to succeed today, according to Gartner. Sales leaders must help customers make sense of the massive amount of quality information they encounter as part of a purchase and proactively guide them through the buying journey.
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High Loss Ratios Keeping Auto Insurance Expensive Across Canada
LowestRates.ca has released its Q2 2019 Auto Insurance Price Index, which tracks the average quarterly cost of car insurance across Canada. The report found rates are up across the country in Q2 2019, with drivers in Alberta seeing the steepest rate increase in the country.
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Aon & Bunker Partner For On-Demand Economy
Aon plc, a leading global professional services firm, and Bunker, the leading instant business insurance and compliance platform for independent workers and enterprises, have entered into a commercial agreement to serve the growing on-demand, sharing economy.
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Willis Towers Watson Completes Acquisition
Willis Towers Watson is pleased to announce it has completed its acquisition of TRANZACT, a direct-to-consumer health care organization that links individuals to U.S. insurance carriers, following the satisfaction of customary closing conditions and receipt of regulatory approval.
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Echelon Appoints Robin Joshua President
Echelon Insurance is pleased to announce the appointment of Robin Joshua as President of the company, effective August 1st. As President, Robin will report directly to Matthew Turack, Group President of Echelon, CAA Insurance and Orion Travel Insurance.
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Impaired Driving Enforcement A Top Priority
High-visibility checkstops. A tip from a citizen. An unmarked police vehicle stationed near a bar. A roadside sobriety test. Those are some of the ways police catch impaired drivers every month.
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High-Income Canadians Not As Wealthy As They Thought They Would Be Today: Survey
Despite higher salaries, almost half (48%) of Canadians in high-income households say they are not as wealthy as they expected to be at this stage of their life, a new Ipsos survey sponsored by RBC Wealth Management has revealed.
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