Zurich Insurance is launching a new app designed to help give distributors its general risk appetite across multiple industries. JLT Re North America is partnering with personal auto InsurTech Pact Insurance to develop digital insurance products for mobility risks.
Zurich Insurance said it is launching a new mobile app designed to help give distributors its general risk appetite across multiple industries.
The app, named Zurich Risk Appetite, includes information about products, industries and local contracts. It includes, in particular, details about Zurich’s risk appetite in regions including Europe, the Middle East and Africa, Asia Pacific, Latin America, and North America.
Canada isn’t part of the app yet, but risk appetite details for the country will be added in the 2019 first quarter.
The app is available for use on both Apple and Android operating systems.
Reinsurance broker JLT Re North America is partnering with Pact Insurance, a personal auto InsurTech company, to develop digital insurance products for mobility risks.
Pact is a managing general agency headquartered in San Francisco and currently offers low-cost, on-demand auto insurance in Ohio. With Pact, customers can buy and manage their car insurance completely from their smartphone.
Financial terms weren’t disclosed.
Paul Lee, CEO of Pact, said that the company is “pleased to be partnering with JLT Re in bringing to market a modern take on mobility risks.”
The partnership comes, he said, as “consumer lifestyles are increasingly digital and dynamic, growing the divide between one-size-fits-all coverage and consumer behavior.”
JLT Re is part of the Jardine Lloyd Thompson Group.
Sources: Zurich Insurance, JLT Re