Of Special Interest


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14th May 2023

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, DXC Technology, working closely with the London Market Joint Ventures XIS and XCS, reported that it had successfully completed a major data centre migration, a key milestone in the multi-year transformation of the world’s largest insurance market. Moody’s RMS announced that it is to enhance its Intelligent Risk Platform by integrating the Nasdaq Risk Modelling Platform for Oasis-based models. S&P Global Ratings requested comments on the revised proposed Insurer Risk-Based Capital Adequacy Criteria, and PERILS released its second industry loss estimate for the Kahramanmaras Earthquake Sequence. An Alta Signa Market Bulletin provided a view on the German market Excess Layer issues. With fewer than 90 days to go until the start of the Consumer Duty, the Financial Conduct Authority(FCA) urged firms to ensure they are ready for the deadline.
Duck Creek Technologies published its second annual benchmark survey-"2023 Global Consumer Insurance Insights". Guidwire released a survey undertaken in the UK, France, Germany, and Spain headed "Insurance in 2023 is a battle for customers’ hearts and minds", whilst GlobalData said that UK motor insurance customers need to switch more. Insurity announced it had partnered with VIPR Solutions with a focus on the London Market and the US domestic P&C market to improve program business efficiencies and remove the need to produce traditional bordereaux. The new Sapiens Decision Parameter Management(PaM) aims to accelerate time-to-market with near-realtime changes to business logic. Xempus acquired the no.2 player in German pension, life & health insurance technology and expanded internationally.
Chubb announced that the company's Climate+ global business unit has launched an innovative packaged insurance solution in the UK that will support the growth of alternative and renewable energy projects, principally onshore wind and ground-mounted photovoltaic solar. Financial reports included those from Allianz, Berkshire Hathaway, Liberty Mutual, and Ryan Specialty; Argo, Greenlight Capital Re, and Hannover Re.


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