A eew GFIA paper examined insurers’ role as investors in sustainable finance, and The Intergovernmental Panel on Climate Change(IPCC) opened its first virtual session to consider its annual budget. The Chartered Insurance Institute(CII) issued guidance to help insurance professionals eradicate the expectation gap between what customers expect insurance products to do and what they deliver, and it also appointed three Engagement board members with a fourth to follow. The British Insurance Brokers’ Association (BIBA) launched its National Young Broker Committee.
The Geneva Association released a report-"Digital Health: Is the euphoria justified?", whilst GlobalData reported that in the UK COVID-19 is causing commercial motor insurance cancellation but presents business opportunities for insurers, and employers’ liability insurers losing customers due to COVID-19 should prepare for a tough 2021. The researcher also said that cyber insurance was shifting into personal lines as consumer interest rises, and personal accident and health insurance written premium in Asia Pacific is estimated to reach $240.1bn in 2023. Growth slows but continues in US life insurance activity as younger applicants continue to drive growth according to the latest MIB Index.
Zurich Insurance Group subsidiary Farmers Group(FGI) agreed to acquire MetLife’s property and casualty(P&C) business in the US together with the Farmers Exchanges for $3.94bn. Agrisure unveiled its new tech-enabled brand, Fidelis raised an additional $185m of capital for continued growth, and Willis Towers Watson invested in low carbon transition analytics with the transfer of Climate Policy Initiative’s Energy Finance team. There were senior appointments at Aviva and Brit.
Duck Creek partnered with Ebix Australia, and Sapiens announced a partnership with LifeScore Labs, a wholly owned InsurTech subsidiary of Mass Mutual. TransUnion and The Floow partnered to deliver actionable insights to insurers amid market shifts, and Nationwide joined the Verisk Cyber Data Exchange.
Newslink reports on its recent discussion with senior Guidewire management.
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