|
INSURANCE INDUSTRY NEWS
Most Expensive Two Years Ever For Insurance
Major wildfires, tropical cyclones and severe thunderstorms caused USD 225 billion in economic losses globally and USD 90 billion in insured losses in 2018, according to the 2019 Insurance Market Report from Aon. This is nearly 50% higher than the annual average from 2000 to 2017 and made 2017-2018 the most expensive two-year period for insurers ever recorded.
Read more.
The Latest Cyber Risks: Chubb InFocus Report
Chubb's latest Cyber InFocus Report, “Know the Latest Trends in Cyber Risks,” outlines the newest cyber exposures that all institutions should have on their radar. These include a surge in Biometrics Information Privacy Act (BIPA) lawsuits, the emergence of new ransomware variants, and increasingly expensive cyber risks facing financial institutions.
Read more.
Silent Cyber Risk Concern Declines Across Lines
The insurance sector is considerably less concerned about silent cyber exposures than it was in 2018, across all commercial lines of business and industry groups, according to the 2019 Silent Cyber Risk Outlook global survey by Willis Re.
Read more.
Apollo Exchange Launches Liability For PIs
Apollo Insurance Solutions Ltd. is pleased to announce that through partnership with Trisura, it now offers the Professional Liability package for private investigators through the Apollo Exchange. Like all products featured on the Exchange, brokers can quote, bind, and issue policy documents for their private investigator clients online and in real-time.
Read more.
Blink Innovation Teams Up With Manulife On Digital Travel Disruption Solutions
Blink, one of the fastest-growing Travel Insurance InsurTechs in the world, has entered into an agreement with Manulife, one of Canada's largest travel insurers, to support the roll-out of tailor-made insurance solutions to its customers.
Read more.
Swyfft, Sheltr Partner On Proactive Home Care
Swyfft, an insurance service provider that uses artificial intelligence to save customers and agents time and money, has announced it is partnering with Sheltr, the subscription app that helps homeowners proactively care for their homes to catch and mitigate issues before they become costly repairs.
Read more.
FAST, Sureify Partner To Digitally Transform Insurance
FAST, a leading software company for the life and annuity industry, announced today that it has entered into an agreement to partner with Sureify. Sureify’s enterprise life and annuity platform, Lifetime, will leverage microservices from the FAST platform and provide carriers with innovative solutions for broadening and deepening policyholder engagement.
Read more.
QBE Launches Innovative Service To Reduce Risk Of Harassment & Employment Practices Issues
Creating a safe and supportive workplace that minimizes the risk of harassment, discrimination, and other employment practices violations is critical for executives and HR departments.
To help employers better navigate this risk and stay ahead of changing employment laws, QBE North America has introduced a new and complimentary service, QBE Business Resource Edge, as part of its Employment Practices Liability (EPL) insurance offering.
Read more.
The Co-operators Acquires Quebec Brokerage
The Co-operators has purchased Cadieux Beausejour Dupras Inc. in Saint Jérôme, Quebec. The brokerage's portfolio includes personal and commercial insurance policies. Any existing insurance coverage will remain in effect for the current policy term.
Read more.
WaveFire Launches Innovative Risk Management Platform
WaveFire, LLC, has announced the launch of a cross-industry innovative platform empowering risk management for cybersecurity, compliance and audit, supporting multiple regulatory frameworks.
Read more.
Emerging Tech Trends With Transformational Impact
Gartner's latest Hype Cycle for Emerging Technologies reveals five distinct technology trends that create and enable new experiences, leveraging artificial intelligence and other constructs to enable organizations to take advantage of emerging digital ecosystems.
Read more.
IBM Announces ‘Quantum-Safe’ Cloud Technology
IBM has announced that it will begin to provide 'quantum-safe' cryptography services on the IBM public cloud in 2020 and is now offering a Quantum Risk Assessment from IBM Security to help customers assess their risk in the quantum world. This marks a major step toward maintaining the highest level of security of its clients' data and privacy in the future from fault-tolerant quantum computers.
Read more.
Four Emerging Trends Transforming How Marketers Run Technology Ecosystems: Gartner
AI for marketing, customer data platforms, and real-time marketing are some of the technologies at the Peak of Inflated Expectations in digital marketing and advertising, according to Gartner. The Gartner Hype Cycle for Digital Marketing and Advertising 2019 report shows that four particular technologies have the capability to transform how marketers run their technology ecosystems and, ultimately, deliver meaningful customer experiences.
Read more.
Porsche Expands Subscription Offer In Canada
Porsche is expanding its “Porsche Passport” vehicle subscription model and “Porsche Drive” premium car rental service. Following the launch in Atlanta, these services will be offered in four new cities from September 2019: Las Vegas, Phoenix, San Diego and Toronto.
Read more.
Edmonton Hail Caused CAD 90M In Insured Damage
The hailstorm that took place on August 2, 2019 in the Edmonton area caused an estimated $90 million in insured damages, according to Catastrophe Indices and Quantification Inc.
Read more.
| 
