Of Special Interest


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1st May 2016

Newslink Global Insurance Trends

This week, significant surveys were published-Accenture's global report indicated that insurers should put people first to get the most out of digital transformation, whilst Teradata said that 83% of French, German and UK insurers polled saw big data strategy as their most critical priority. Eptica reported that leading UK insurers need to improve their responses to Social Media enquiries.
BNY Mellon foresaw the future ILS London Market as an opportunity to provide global leadership on cyber risks, whilst Standard & Poor's explained their approach to the assessment of reinsurers' catastrophe exposure.
Ruschlikon reported on wider use of ACORD standards and major activities, and the London Market Innovation Exchange winners were announced. Charles Taylor InsureTech was launched aimed at the global insurance technology market, Allianz Deutschland deployed the IMS DriveSync5 telematics solution, and Guidewire stayed in the news-Hiscox selected its Predictive Analytics application for UK and Ireland retail business, and US-based Safety National chose ClaimCenter and PoliicyCenter.
AIG, Hamilton, and Two Sigma announced they are to partner to target the North American SME sector. Munich Re increased its dividend but warned on first quarter results, whilst SCOR reported higher GWP from its April renewals in a difficult market. Others reporting financials/interim management reports included Arch Capital(net income down but operating income up), Axis Capital(happy with underwriting performance), Everest Re( net income down but pleased with result in challenging market conditions), R & Q(second half of 2015 improved), RenaissanceRe(net income down), Swiss Re(revenue up but net income down), XL Group(higher natural catastrophe losses), JLT(positive interim statement), MarshMac(a strong start to the year), Allstate(US hailstorm losses impacted first quarter result), and St James's Place(continuing its growth). There were senior appointments at Asta, EY, and Willis Towers Watson. Nicholas Aubert, Willis Towers Watson Great Britain head, is to chair London Market Group(LMG), taking over from Steve Hearn who has provided strong leadership.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global trends database services last Wednesday and today at www.onlystrategic.com-featuring advanced structured search and report facilities and a free 14 day full trial.