Markets
Zurich North America Seeking Startup Applications for Third Annual Innovation Championship
Zurich North America is inviting InsurTech startups to apply for the third annual Zurich Innovation Championship. Registration via www.zurich.com/zicis open through Dec. 23, 2021. Zurich will select ...
Insurers Increasingly Relying on Non-Traditional Investment Assets to Increase Yield
Insurers are increasingly turning toward non-traditional assets to increase their yield, according to Clearwater Analytics' annual Insurance Investment Survey Report. "The search for yield amid low ...
AIG Closes Sale of Life & Retirement Unit Stake to Blackstone
Part of American International Group's plans to spin off part of its Life & Retirement business have come to fruition. AIG and Blackstone said they have closed on a previously announced agreement ...
Russia’s Yandex Follows Tesla Route With Safe Driver Insurance Discount Program
Russian tech giant Yandex plans to reward responsible drivers on its car-sharing platform with cheaper insurance this year, it told Reuters, using machine learning in a pilot program similar to one ...
Hiscox Sets Aside $150M for Hurricane, Flood Losses
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts' expectations, while it reported strong premiums written this year ...
InsurTech Lessons From ITC: Take the Stock App Off Your Phone
Alex Timm, the chief executive officer of Root, has some advice for InsurTechs that go to the public markets: "You cannot let the stock price or Wall Street tell you what your value is." When ...
ITC Reporter’s Notebook: How Next, Root and Swiss Re Are ‘Adapting’ and Innovating
Over the course of the last six years, Next Insurance has adapted its business model, its distribution method, and its product offerings. Coming up next, the InsurTech aims to offer "adaptive ...
Jury Sides With Insurer in COVID-19 Business-Interruption Claim
A Kansas City jury decided in favor of the insurer in the nation's first jury trail of a lawsuit that sought coverage for business-interruption losses caused by the coronavirus. The jury for the U.S. ...