| Today's Headlines | October 21, 2020 |
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Keeping up to date with rating bureau content has always been an onerous task for P/C insurance carriers, particularly small to midsize carriers with limited operational resources. According to research by Novarica, 80 percent of carriers are not current with ISO filings, with most lagging anywhere from two to five years behind. This insight speaks... read more | | |
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While there's a great deal of speculation surrounding the COVID-19 pandemic's immediate and longer-term effects on the insurance industry, one key trend is sure to stick: commercial P/C insurers will continue pushing for more automation to drive steady gains in operational efficiency. Today, carriers can choose from dozens of technology-driven approaches to achieve efficiencies and... read more | | |
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Watford Holdings Ltd. announced yesterday that it can't ignore an offer from Enstar Group Limited to buy the Bermuda-based company for $34.50 per share, or nearly $690 million, which beats a competing offer by Arch Capital Group Ltd. for $31.10 per share, or $622 million. The latest Enstar bid also exceeds an earlier bid that... read more | | |
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InsurTechs used to launch insisting they were insurance industry disruptors bringing new ways to bypass traditional players in bringing coverage to consumers. In reality, Swiss Re Group CEO Christian Mumenthaler said, the startups have been anything but. read more | | |
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Digital brokerage startup Newfront said it has raised more than $100 million in venture financing it will use to fuel business growth and product development. read more | | |
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Ahead of a scheduled Nov. 5 quarterly earnings report, Munich Re announced that its COVID-19 losses for the third quarter total €800 million (roughly $940 million) and that non-COVID large losses are above average. That should put overall profit at about €200 million ($235 million) a decline from last year's third-quarter profit of €865 million... read more | | |
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InsurTech Convr has launched a new underwriting insights tool that includes a COVID-19 management dashboard. The Illinois-based startup, formerly known as DataCubes, said that Convr Insider provides underwriters real-time data on how the pandemic is impacting businesses. The tool is being offered free of charge to all U.S.-based P/C carriers. Convr Insider allows insurers to... read more | | |
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MAPFRE is collaborating with a technology company to develop a new AI-based claims process for homeowners claims. Berkshire Hathaway Specialty Insurance said it has finalized proprietary Directors & Officers Liability and Professional Indemnity policy wordings for customers in the UAE and throughout the Middle East. read more | | |
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The insurance industry has gotten a bad rap over the past year, but it's time to show who we really are. With uncovered pandemic-related business interruptions capturing headlines about property/casualty insurance in 2020, you didn't have to look far to see words like "uncaring" and "profit-hungry" as descriptors for this industry. Do you ever read... read more | | |
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| | The impact AI technology is having on carrier operations is both cost saving ... read more | |
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| | Are you prepared for March 19, 2021? On that date, Nacha's ACH Account ... read more | |
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| | Influencing the auto insurance claims process from the moment of impact reduces ... read more | |
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| | Amazon, Tesla, and Walmart have entered the insurance arena. What does that ... read more | |
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| | The Jacobson Group and Aon's Semi-Annual Insurance Labor Outlook Study provides ... read more | |
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