Commercial insurance pricing increases for first time since 2013
By Insurance24
HARARE, Average global commercial insurance pricing increased in Q4 for the first time since the first quarter of 2013, according to new data. The price hike was driven largely by global property insurance pricing, which was impacted by Q3 catastrophe losses.
Average pricing rose by 0.8% in the fourth quarter, compared
The immense value of a ‘strong partnership’…Facebook Settles Shareholders’ Claims Over 2012 IPO
By Insurance24
HARARE, Insurers and brokers are under more pressure than ever before to demonstrate value in an increasingly digitized and direct industry. Value comes in various shapes and sizes. It could be in the form of ‘above and beyond’ claims adjusting, expert risk management, or
Underestimate Cyber Risks Which Could Prove ‘Fatal’: Allianz Report
By Insurance24
Small- and medium-sized enterprises are waking up to the realities of cyber risks but still underestimate their exposures, which could prove catastrophic for some, according to a report published by Allianz Global Corporate & Specialty (AGCS).
For medium-sized companies with annual revenues between €250 million
Why insurance buyers aren’t seeing more insurtech options
By Insurance24
“Customer inertia” is driving insurtech firms to partner alongside traditional players, perhaps explaining why more new entrants haven’t emerged.
The insurance technology business is now receiving more than $2bn annually, as of 2017. Nevertheless, for commercial insurance buyers there is a lack of new entrants displacing
Deloitte report says it’s time insurers ‘expand their value proposition’
By Insurance24
HARARE, Middle market commercial insurers are under more pressure than ever to stay competitive in an increasingly cost-conscious, commoditized and fickle market environment.
According to the Deloitte Middle Market Insurance Consumer Survey released this week, insurers and brokers targeting the
Industry trends, strategies to stay competitive
As technology innovation, higher customer expectations and disruptive newcomers redefine the marketplace, insurers remain focused on growing top-line sales, bottom-line profitability, addressing challenges, and
competing in a dynamic industry. Our 2018 Insurance Industry Outlook pinpoints key opportunities and threats that should demand attention
Global Bancassurance: captive and joint venture models are thriving in spite of regulatory impact
By Insurance24
HARARE, New research about global bancassurance strategies published by Finaccord has found that the ownership or co-ownership model in bancassurance is thriving, so much so that the total value of premiums written by captive and joint venture underwriters belonging to
Why cyber insurance is being forced to get innovative
Insurance24
HARARE, While the wide scale adoption of digital tools and services has helped businesses of all size up their value proposition, it has also increased their risk. Cyber criminals are using increasingly sophisticated methods to hack systems and steal data, and more companies than ever before are being targeted. As risks evolve, the
Can insurance step in on social risks?
Insurance24
HARARE, A recent paper from the Actuaries Institute found that financial services businesses are failing when it comes to managing their social risks.
The paper, entitled Social Risks – for a financial services business, states that they face a host of risks which could damage not only reputations but also the businesses themselves.
So, is there
Insurance24
As the insurance industry seeks to adapt to the technology-driven landscape, it must learn to harness the large amounts of data it naturally holds. However, that is a daunting task where many insurers tend to struggle.
To gain more insight on how insurance industry members can navigate the tricky space of big data analytics, Insurance Business spoke with Vikram Mengi, co-founder and CEO