20th October 2019

Newslink Global Insurance Trends-Editor's Weekly Overview

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This week, the two leading reinsurers led the way on technology developments-Swiss Re and Pioneer are to launch an innovative telematics solution for insurers, and Brokerslink announced a strategic agreement for Swiss Re Corporate Solutions to develop a dedicated international insurance programme management platform for the organisation’s broker network. Meanwhile, Munich Re Automation Solutions reported that it was bringing its auto-underwriting expertise to the global mid-tier life insurance market with its SaaS solution ALLFINANZ SPARK. The International Underwriting Association(IUA) published new research on the future of On-Demand insurance cover, and newcommer InsurTech honcho released a survey of young drivers in the UK. US P&C net income and combined ratio worsened for the first half but produced a record surplus, according to the quarterly Verisk/APCIA survey.
China has further open up its insurance and banking sectors to foreign investors. Insurance Europe published views on OECD proposals to develop a consensus solution to the taxation challenges arising from the digitalisation of the economy, and also issued an insight briefing that examines the liability questions raised by light electric vehicles and automated vehicles. The Chartered Insurance Institute launched the Society of Underwriting Professionals.
B3i released the latest version of its Property Catastrophe Excess of Loss Reinsurance application and its successful deployment to production environments ahead of year-end renewals. HDI Global and Schneider Electric are to collaborate on the digital transformation of industrial/commercial insurance through data, and Willis Towers Watson announced that insurance software specialist RDT is to become the latest vendor to join its global Radar Live Collaboration programme. FRISS became the first Guidewire PartnerConnect Solution Partner that is leveraging Guidewire DevConnect to develop an add-on for fraud and risk management related claims support.
Allianz became the no.1 insurer in the Interbrand Best Global Brands 2019 Rankings. Ambitious run-off specialist DARAG continued its expansion with a Guernsey-based acquisition. Gallagher acquired in Sweden, and Davies Group launched a new compliance & regulatory consulting business in Bermuda. There were senior appointments at Marsh and Guy Carpenter, and at InsurTech Dinghy.

Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
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