The way we interact with travel insurance is undergoing a radical shift thanks to technology that not only simplifies processes but also enhances user experience significantly. Embedded insurance company Open is spearheading this revolution with a new travel insurance product that promises to redefine the norms of conventional travel insurance. Their offering is a game-changer, integrating features such as “Instant
European insurance provider Wakam has recently achieved a significant milestone in its growth journey, securing authorization to operate in the United Kingdom. With approvals in place from both the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), Wakam has established Wakam UK Limited, signaling a major strategic push into one of the world’s most prestigious insurance markets. This
With a professional path marked by versatility and acumen, Kirsten Valder steps into the Deputy CEO role at Arch Insurance International, forecasting a new trajectory for the organization. Graced with a decade-long tenure at the firm, Valder’s previous responsibilities have honed her into a multifaceted leader—a strategic advantage expected to cascade into her new functions. Her legacy as Chief Claims
The Insurance Development Forum (IDF), a collaborative effort uniting leading entities in the insurance sector, U.N. bodies, and the World Bank, has recently released a pivotal report titled “2023 In Review – Prevent, Protect, Provoke.” This document highlights the significant progress made in fortifying global defenses against the impacts of natural disasters and climate change. The IDF’s innovative methodology, which
The insurance payment arena is undergoing a major shift thanks to an alliance between ePayPolicy and US Premium Finance (USPF). This venture introduces Finance Connect, inspired by the booming “Buy Now, Pay Later” trend in retail. Integrated into insurers’ checkout processes, it’s set to simplify how policy premiums are financed, offering a boon for customer ease. Expected benefits of this
In a pioneering move, Kayna, a trailblazer in embedded insurance infrastructure, is joining forces with AEGIS London, a principal agent within the Lloyd’s of London syndicate circle. This partnership is set to take the commercial lending realm by storm, promising to revolutionize the OPAL underwriting platform. By doing so, they are poised to usher in an innovative class of property
In Latin America, soccer is not just a sport; it’s a unifying cultural passion. The announcement that MAPFRE, one of the top insurance companies, will sponsor the CONMEBOL Libertadores from 2024 underlines the significance of this cultural phenomenon. This sponsorship is a notable event because the CONMEBOL Libertadores is the region’s most revered soccer tournament, akin to a sacred tradition
Aon, a global professional services leader, has just completed an impressive acquisition, purchasing NFP for $13 billion. NFP is a key player in insurance and wealth management, and with this move, Aon significantly strengthens its position in the competitive middle market. The deal includes a mix of cash, equity, and assumed liabilities. This acquisition doesn’t just expand Aon’s service offerings;
The integration of Artificial Intelligence (AI) into the insurance sector is sparking a significant transformation in the way insurance companies price policies and manage risks. By utilizing the power of AI, insurers are achieving a level of precision and personalization in premium setting previously unthinkable, surpassing conventional methods that often relied upon broad assumptions and limited data sets. The Emergence
The FinTech sector is burgeoning, with new investments, acquisitions, and innovations fueling progress across its many sub-industries. This is evidenced by the recent success of FlashAid, an InsurTech company based in Mumbai, which raised an impressive $2.5 million in its pre-Series A funding round. This injection of capital highlights the industry’s continuous growth, reflecting investor confidence and the ever-evolving tech
The insurance sector is experiencing a wave of transformation owing to the advent of artificial intelligence (AI), and Sayata is at the forefront with its AI-driven Sayata Risk Engine. This platform is specifically engineered to revolutionize the traditional commercial insurance underwriting, bringing about a new level of precision, efficiency, and promptness crucial to the industry’s success. With a focus on
The insurance sector is on the cusp of a monumental shift, particularly in the area of claims management. At the heart of this shift are the claims handlers, who are the face of customer service and the backbone of claims processing. These professionals find themselves at a pivotal intersection, with the incumbent approach mired in redundancy poised against a future
