In the rapidly evolving digital age, consumers expect convenience and efficiency in all aspects of their lives, and the insurance industry is no exception. The integration of cutting-edge technology with traditional insurance practices, known as InsurTech, is essential in meeting these expectations. InsurTech is revolutionizing the insurance landscape by enhancing customer experience, streamlining processes, and introducing new efficiencies in risk
As we approach 2025, significant changes in employment law are on the horizon. These updates will require HR professionals and employers to make necessary adjustments to ensure compliance and support their workforce effectively. With 2024 already introducing numerous changes, 2025 is set to continue this trend, bringing additional modifications that employers must address. The new laws are designed to improve
The Labour Government’s Employment Rights Bill, introduced on 10 October 2024, aims to revolutionize the UK’s employment law landscape. This comprehensive legislation seeks to enhance job security, improve working conditions, and ensure fairness in the workplace. As the Bill progresses through Parliament, it is essential to understand its key proposals and their potential impact on UK workers. Day One Rights
Significant developments in the European insurance market are underway as the GBSAPRI Group makes strategic moves by acquiring Ernesto Solari Assicurazioni and Seabridge Insurance Broker. With these acquisitions, GBSAPRI aims to expand its influence and solidify its place as a leading independent insurance broker in Italy, and by extension, Europe. This bold strategy underlines GBSAPRI’s ambition to enhance its service
In today’s rapidly evolving digital landscape, insurance companies are under immense pressure to modernize and streamline their payment processes in order to keep pace with the demands of their policyholders. Columbia Insurance Group (CIG) has taken a significant step in this direction by partnering with One Inc, aiming to revolutionize its payment systems to enhance efficiency, security, and customer friendliness.
FCCI Insurance Group has significantly enhanced its customer service by adopting Glia’s state-of-the-art contact center platform, promising a seamless and efficient experience for its customers. Glia specializes in customer interaction technology, placing emphasis on solutions that unify both voice and digital communication channels tailored specifically for the insurance industry. FCCI, a renowned commercial P&C insurance provider, is committed to managing
The recent partnership between SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) and Swiss Re aims to revolutionize life insurance underwriting by implementing Swiss Re’s Underwriting Ease solution. This collaboration is designed to enhance SBLI’s underwriting process through a sophisticated digital platform that efficiently summarizes risk data and expedites decision-making. An Innovative Approach to Underwriting Integration of Underwriting
The insurance industry is grappling with the growing complexity of underwriting systems. As automated underwriting rules proliferate, insurers face significant challenges in maintaining operational efficiency and decision-making clarity. The Earnix 2024 Industry Trends report sheds light on the extent of this complexity and the urgent need for simplification. Despite advancements in technology, a significant portion of the insurance sector still
In a pivotal moment for the Latin American InsurTech landscape, Olé Life recently secured $13 million in a Series B funding round led by PayPal Ventures, with additional investments from Mundi Ventures, AV8, and Advent Morro. This substantial injection of capital is poised to propel the company’s ambitious objectives forward, marking a significant milestone in its evolution. Transforming Financial Protection
The strategic joint venture between Lazada, Southeast Asia’s leading eCommerce platform, and Peak3, a global leader in InsurTech, represents a significant advancement in the region’s digital and embedded insurance ecosystem. This dynamic partnership is set to develop an innovative suite of insurance solutions integrated directly into Lazada’s well-established platform, targeting its vast user base across six Southeast Asian countries. By
In a concerted effort to tackle the heightened risk of flooding in the UK and Ireland, Previsico, a flood forecasting and sensor technology company, has joined forces with Descartes Underwriting, a prominent provider of parametric insurance. This significant collaboration aims to provide businesses with advanced flood warnings and expedite claims payments, thereby offering a robust solution to the growing flood
As the insurance industry seeks to improve risk assessment and pricing models, Environmental, Social, and Governance (ESG) data has emerged as a transformative tool, particularly in Property and Casualty (P&C) insurance. Insurers are beginning to integrate ESG-related data to gain a more holistic view of the risks they underwrite. By assessing ESG performance, insurers can identify underlying issues such as
