Industry News
Travelers Starts Using AI for Ergonomic Assessments
The Travelers Companies said it has started using artificial intelligence to offer business customers virtual and onsite ergonomic assessments. Travelers, which is based in Hartford, Conn., claims to ...
Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change
Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020's ...
Independent Brokers Will Remain Competitive by Adding Value to the Insurance Transaction
The COVID-19 crisis has highlighted the need for brokers to add value to the insurance transaction, according to Toby Esser, chairman of AFL Insurance Brokers, a London-based independent broker. ...
Next Insurance Pursues New Financing Valuing the Startup at $2.25B
Next Insurance is in talks to raise new capital in a round that values the insurance technology startup at about $2.25 billion, according to people familiar with the matter. Alphabet Inc.'s CapitalG ...
U.S. Auto Combined Ratios Will See Sharp Improvement in 2020: Report
In a report, S&P Global Market Intelligence is projecting that U.S. personal and commercial auto insurers will see a sharp improvement in their full-year combined ratios for 2020, followed by ...
State Farm Makes an Acquisition for the First Time
State Farm Mutual Automobile Insurance Co. is acquiring Dallas-based nonstandard auto insurer, GAINSCO, in a $400 million cash transaction. It will be the first time in State Farm's 98-year history ...
ITC Promises to Maximize Networking With One-Month Virtual Conference Delay
InsureTech Connect has postponed its annual (now virtual) fall conference by one month, four days before it was scheduled to go live. ITC, which produces one of the world's largest insurance ...
What Distinguishes This Market? Here’s Lockton Re Leaders’ Insights
Lockton Re's Tim Gardner, global CEO, and Ross Howard, global chairman, have been through their share of hard markets. Like many in the reinsurance business, they agree no two hard markets are ...