As Ukraine continues to grapple with the consequences of an ongoing war, Marsh McLennan’s new facility, Unity, offers a glimmer of hope for the country’s struggling economy. This innovative insurance solution aims to support Ukrainian grain exports and alleviate the challenges posed by the blockade of Ukrainian grain ports by Russia. By providing affordable and comprehensive coverage for shipowners and
In an era of technological advancements and an increasingly connected world, the insurance market is witnessing a surge in the use of data collection from alternative sources. Insurers, alongside insurtech ventures, have traditionally relied on insureds’ information obtained through proposal forms to assess risks and set policy prices. However, the rise of wearable technology and other innovative data sources has
Injuries can have significant repercussions beyond physical pain and discomfort. One aspect that is often overlooked is their impact on earning power. Whether it’s a temporary loss of income, long-term disability, or the need for a career change, understanding the financial consequences is crucial. This article delves into the various ways in which injuries can affect earning potential and provides
CyberCube, a leading provider of analytics for the cyber insurtech industry, has released Account Manager v5, a new version of their portfolio modelling product called Portfolio Manager. This latest update further enhances the capabilities of Account Manager, allowing clients to quantify the impact of individual accounts on their overall portfolio’s loss profile. With this powerful tool at their disposal, underwriters
In a groundbreaking move, VOOM Insurance, an innovative Insurtech company at the forefront of the future of mobility, is set to launch its latest offering – VOOM & Drive. This usage-based insurance auto policy is designed specifically to cater to the needs of rideshare and delivery drivers in the gig economy. With personalized rates and a focus on affordability, VOOM
With the rise of fraudulent insurance claims, Allianz, a leading insurance company, remains committed to staying one step ahead through the implementation of artificial intelligence (AI) technology. By leveraging their innovative tool, “Incognito”, Allianz aims to effectively identify and tackle potentially fraudulent claims, ensuring the protection of their genuine customers and their premiums. The Role of Incognito in Identifying Potential
Marble, the innovative insurance platform, is on a mission to simplify insurance for its members. In collaboration with Fletch, a leading provider of insurance solutions, Marble takes this mission a step further by offering a wider range of pet insurance providers through their shopping marketplace. This partnership aims to ensure that Marble members can easily access trusted pet insurance options
The survey conducted in October and November of 2023 provides a fascinating look at a wide array of transformative trends that are currently top-of-mind for insurers and insurance asset managers in Hong Kong and Singapore. With over 80 participants representing a staggering $2.5 trillion in assets under management, the survey yields valuable insights into the industry’s expectations for the coming
Novidea, the global insurtech company, has recently announced the launch of its innovative insurance management platform in Southeast Asia. With increasing demand for digital transformation in the region’s insurance industry, Novidea aims to empower brokers, agents, MGAs/MGUs, and carriers to modernize their operations, manage the customer journey more effectively, and drive growth across the entire insurance distribution lifecycle. Features of
American International Group, Inc. (AIG), a leading global insurtech organization, has successfully concluded its secondary offering of Corebridge Financial, Inc. (CRBG) shares, resulting in a substantial $712 million windfall. Spearheaded by J.P. Morgan, the underwriting for this significant transaction involved selling 35 million existing shares of Corebridge’s common stock at a public offering price of $20.50 per share. Despite this
Floodbase, a leading provider of flood data and analytics, and Oneglobal, a re/insurance intermediary, have announced a strategic partnership to develop and distribute parametric flood insurance solutions across Asia. This collaboration aims to close the flood insurance gap in the region by offering innovative and cutting-edge insurance products. Closing the Flood Insurance Gap One of the primary goals of this
Cover Genius, a leading insurtech for embedded protection, and Catawiki, the renowned online marketplace for unique objects, have announced an exclusive partnership aimed at safeguarding the shipping of valuable and unique items. This collaboration will offer Catawiki sellers the convenience of embedded protection within the online shipping process, ensuring peace of mind for both sellers and buyers. Embedded Protection for
