Sector Updates

Insurers face increasing pressure for transparent pricing, with calls for clarity and justification of premiums coming from management, agents, and customers alike. Transparency offers assurance and supports regulatory compliance. However, many insurers are now shifting towards data-driven pricing models that emphasise performance, customisation, and profitability over traditional transparency. Dynamic insurance pricing software provider Quantee explores the key reasons behind this evolving approach.

Swiss Re, a global reinsurance leader based in Switzerland, has announced the sale of its iptiQ European P&C business to Allianz Direct, the pan-European digital insurer of Allianz Group.

SchemeServe, a UK-based cloud provider of insurance software, has announced a new data partnership with Addresscloud to improve insurers’ capacity to deliver more accurate, data-backed premiums for individual properties.

Stere, Inc., a leading InsurTech platform, and EPIC Insurance Brokers & Consultants (EPIC) have partnered to transform the insurance experience for small businesses by offering a streamlined, digital insurance solution.

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has announced the appointment of Nathan Adams as its new chief people officer.

The Casualty Actuarial Society (CAS) has recently published an insightful new monograph entitled "Penalized Regression and Lasso Credibility."

Delos Insurance Solutions, a property insurance MGA, has successfully closed a $9m Series A funding round.

The 2024 Earnix Industry Trends Report has revealed that the insurance sector faces pressing challenges with AI adoption, legacy system modernisation, and compliance pressures.

Bindable, a prominent InsurTech firm specialising in alternative distribution technology and services, has introduced a new solution designed for businesses interested in establishing property and casualty (P&C) insurance agencies.

Aon, a global professional services firm listed on the New York Stock Exchange under the ticker AON, has signed a definitive agreement to acquire Griffiths & Armour, a UK-based insurance broker.