XL Catlin has expanded its specialty aviation insurance to Mexico. Willis Towers Watson unveiled the latest version of its loss-reserving software known as ResQ. American Modern plans to offer a smart home sensor from Notion as part of a new pilot program.
XL Catlin began offering specialty aviation insurance in Mexico, with an initial focus on general aviation hull and liability risks.
The insurer’s expansion in Mexico builds on an established presence in Latin America and aviation teams in Brazil, the United States and Canada.
XL Catlin’s new offering in Mexico will concentrate on underwriting jets, some turbo-propelled aircraft and helicopters, with a maximum age of 28 years. The new product offers broad coverage locally in standard policies along with complementary endorsements through global and national insurance brokers.
Willis Towers Watson unveiled the latest version of its loss-reserving software, ResQ.
ResQ 4.1 provides property/casualty insurers with new reporting capabilities to further advance the software’s technical capability, a change responding to clients’ increasing need for faster and more efficient processes, WTW said in a statement.
This new version includes a new integrated reporting facility and additional technical capabilities, together with enhancements to the software’s automation capabilities. Changes include allowing users to easily create reports without coding; better integration with Unify, WTW’s workflow automation and governance platform; and the ability to use ResQ, which is fully compatible with third-party cloud providers, as software as a service (SaaS) delivered by Willis Towers Watson.
American Modern Insurance Group will start offering Notion’s smart home sensor to select policyholders as part of its smart home water sensor pilot program.
American Modern’s pilot program focuses on the importance of monitoring for water leaks in real time to help reduce damage. Notion is an Internet of Things-related startup with a smart home sensor designed to enable lower-cost home security.
The Notion sensor alerts customers to water leaks, in addition to smoke alarms, temperature changes, and doors, garage doors and windows opening and closing – all with just one device. This gives homeowners the flexibility to monitor and receive instant alerts about events happening across their entire home.
American Modern policyholders in Alabama, Colorado and Ohio can sign up to participate in the water sensor pilot program by visiting http://www.amrefinery.com/water/.
Sources: XL Catlin, Willis Towers Watson, and Notion/American Modern.