Lloyd’s has announced targets for all syndicates to write 80 percent of their risk using a recognised electronic placement system in Q1 2020. The move reveals a gradual push for digitisation as well as a deeper transformation in the mind set of players in the Lloyd’s and London markets.
Lloyd’s much talked about modernisation programme has moved into phase one of execution. Intelligent Insurer finds out more about the priorities and market involvement for 2020 from chief executive officer John Neal and chief operating officer Jennifer Rigby.
Despite high levels of insurance penetration, recent storms in the UK and Europe have emphasised the region’s growing protection gap. While the storms have not been as severe as in the past, the frequency is increasing, according to risk modellers.
Insurers need to hold and manage overwhelming quantities of data to accurately assess their risk. But one insurtech expert warns that a large amount of this valuable data goes to waste as it is left languishing in non-standard formats.
The end of the long soft market will be music to the ears of many but one industry veteran sounds a note of caution for MGAs. Intelligent Insurer looks at what changing market conditions mean for these specialists.
Natural catastrophe, sustainability and the Covid-19 coronavirus were high on the agenda for Swiss Re as its leaders pledged to reach net-zero emissions by 2030.
Recent flood damage caused by storm Ciara and Dennis has heightened awareness of growing flood risks again. Parametric flood policies and live flood forecasting are key developments allowing insurers and business to tackle flood risk.
Artificial intelligence and machine learning that leverage large legacy, and not so legacy, data caches are set to provide improved pricing accuracy for firms merging with or acquiring others, while Latin America and Asia offer fresh conquests for acquisitive firms. Intelligent Insurer investigates.
As the coronavirus continues to spread, questions are being raised regarding its potential impact on the insurance industry and global economy
Brazil’s evolving reinsurance market still has significant barriers to entry, but economic reform and changes to regulation could whet foreign investor appetite.