Aegon, Allianz, Munich Re, Swiss Re and Zurich have launched the Blockchain Insurance Industry Initiative B3i aiming to explore the potential of distributed ledger technologies to better serve clients through faster, more convenient and secure services. If Blockchain technology proves viable, it could well streamline paper work and reconciliations for...
Allianz Group and International Finance Corporation (IFC), a member of the World Bank Group, have signed a partnership under the Managed Co-Lending Portfolio Program. Under the agreement, Allianz intends to make an investment of USD500 million which will be co-invested alongside IFC debt financing for infrastructure projects in emerging markets...
Truecause has announced the launch of the insurance industry’s first Corporate Social Responsibility (CSR) crowd funding platform for charitable giving and volunteering campaigns. The new platform was launched during the GBN Worldwide conference with a presentation and reception in the Library at Lloyd’s of London. Over 100 international risk management...
Google is looking to establish partnerships between insurance companies and some of its businesses, including Nest, which makes smart thermostats and smoke detectors, the managing director of its French division Nick Leeder said. But the US firm was not focusing on entering the insurance market directly, Nick Leeder added. “With...
Officials from the United States and the European Union are on the verge of completing a “covered agreement” for regulatory approaches to insurance, according to a joint statement released by negotiators. “Both sides continued to discuss in good faith matters relating to group supervision, exchange of confidential information between supervisory...
Premiums for US auto insurers may drop more than 40 percent once the use of automated vehicles has been fully adopted by 2050 and driving becomes safer, according to insurance broker Aon Plc during the launch of its annual Global Insurance Market Opportunities report. Paul Mang, CEO of Aon Analytics,...
An increased tax rate affecting numerous policies has affected millions of households. The standard rate of insurance premium tax (IPT) that applies to most general insurance policies bought in the UK, has increased from 9.5 percent to 10 percent. The hike is expected to push up the cost of new...
American International Group, Inc. (AIG), Hamilton Insurance Group, Ltd. (Hamilton), and affiliates of Two Sigma Investments, LP (Two Sigma) announced the formation of Attune, a technology-enabled platform to serve the USD80 billion US Small to Medium Sized Enterprise (SME) commercial insurance market. The agreement follows a memorandum of understanding the three...
Reinsurer Munich Re does not expect significant growth in insurance or reinsurance demand, according to the company’s Board. This is suggestive that excess capital issues in the market will not ease market pressure any time soon. Board member Tosten Jerrowek told a media briefing at the 2016 Monte Carlo Rendez-vouz...
IBM has announced a five-year partnership with insurance software provider Majesco, to jointly offer a new cognitive, cloud-based platform to help insurance carriers worldwide create new services on IBM Cloud. The global partnership is intended to speed the development of new customer services with predictive data analytics and help insurance...
