Berkshire Hathaway Specialty Insurance (BHSI), a premier provider of insurance solutions in executive and professional lines, has recently announced significant leadership changes in its UK operations, signaling a strategic shift likely to influence the financial lines market. The new appointments see Andrew Hopper becoming the head of financial institutions, UK, and Chris Nixon being promoted to underwriting manager, executive &
Africa Specialty Risks (ASR), a major (re)insurance group with a focus on the African and Middle Eastern markets, has officially launched its operations in Dubai with the institutional backing of Lloyd’s. With this strategic move, ASR aims to bridge the insurance gap in underserved regions while reinforcing its commitment to providing tailored risk solutions. Operating as a Lloyd’s service company
Artificial intelligence (AI) is revolutionizing various sectors across the globe, but its impact on the life insurance industry, specifically in underwriting processes, marks a drastic transformation that few anticipated. By integrating AI, life insurers can achieve higher levels of speed, accuracy, and personalization in risk assessment, ultimately transforming policy customization and customer experience. This new era is reshaping how life
In an impressive move to support travelers across Southeast Asia, Cover Genius has partnered with Airpaz to offer comprehensive travel insurance in countries like Malaysia, Vietnam, Indonesia, Thailand, and the Philippines. This collaboration is designed to ensure that travelers can enjoy a sense of security and peace of mind even during the busiest travel periods. Whether it’s dealing with unexpected
Insly has introduced a groundbreaking AI-powered product named FormFlow to revolutionize the data submission process between Managing General Agents (MGAs), insurers, and their broker partners. As a leading low-code software provider within the insurance sector, Insly developed FormFlow in response to the industry’s demand for a more streamlined, efficient, and reliable data submission process. The current system often involves brokers
Data centers have become a cornerstone of the digital age, providing essential services such as data processing, storage, and computational capabilities. As the demand for data centers surges, so do the opportunities for property owners and developers. However, this high-stakes real estate investment comes with significant risks that must be meticulously managed. Understanding the Demand and Investment Strategies The Growing
In a bold move that positions Zurich Insurance Group as a global leader in travel insurance, the company has acquired AIG’s global personal travel insurance and assistance business for USD 600 million. This landmark deal also includes a potential earn-out payment and emphasizes Zurich’s strategic intent to expand its travel insurance capabilities. Acquiring AIG’s well-established Travel Guard brand alongside its
Urban Jungle, an innovative insurtech company, has launched a new branding strategy dubbed ‘Fair to you, your wallet, and the planet’. This rebranding underscores the company’s unwavering commitment to providing straightforward and affordable insurance while adhering to rigorous ethical standards. Leveraging cutting-edge technology like AI and machine learning, Urban Jungle is revolutionizing the insurance landscape by making it both accessible
The insurance industry is experiencing a radical transformation fueled by technological advances and evolving customer expectations. At the epicenter of this change is the concept of Insurance-as-a-Platform (IaaP), an innovative model that redefines how insurance products are designed and delivered. Unlike traditional methods that emphasize standardization, IaaP offers unparalleled levels of personalization and flexibility, making it a game-changer in the
In a strategic move set to significantly enhance its embedded insurance services, HUB International recently announced that it would acquire Insuritas, an embedded insurance platform that primarily targets banks and credit unions. The acquisition will bolster HUB’s existing digital platform, VIU by HUB, which was launched in June 2022. Initially focused on personal insurance, VIU has since expanded its offerings
The financial and insurance industries are undergoing a significant digital transformation, with Artificial Intelligence (AI) playing a central role in this evolution. Among the various applications of AI, risk assessment and underwriting platforms stand out as areas where AI is profoundly impacting how decisions are made. These AI-powered platforms are providing organizations with faster, more accurate, and objective decision-making capabilities.
In Australia, a significant issue is coming to the forefront regarding financial security and the accessibility of financial advice. Recent research paints a troubling picture of the disparity between the insurance coverage of material possessions, such as cars and homes, compared to personal protection through life insurance. Insights from the Council of Australian Life Insurers (CALI) indicate that while almost
