Sector Updates

Leading specialty Managing General Agent Nexus has announced the appointment of Seline Low as its new deputy head of accident & health (A&H) reinsurance for Asia.

Despite the U.S. leading the world in per capita spending on maternity care, it paradoxically has some of the highest rates of adverse pregnancy outcomes among high-income nations. The CDC reports that maternal mortality is on the rise, with nearly 84% of pregnancy-related deaths considered preventable. The U.S. Department of Health and Human Services (HHS) suggests that comprehensive care navigation models could significantly reduce maternal morbidity and mortality rates by up to 50% and 20%, respectively, highlighting the crucial need for innovative approaches such as digital care navigation for expectant mothers.

Artificial Intelligence (AI) is revolutionising the insurance sector by enhancing underwriting, claims processing, customer service, and product development. The technology has already shown its value in automating manual tasks, improving risk assessments, detecting fraud, personalising customer interactions, and enabling predictive pricing.

Chaiz, an Austin-based marketplace for extended car warranties, has raised $3.7m in seed funding as it looks to expand its coverage options.

Whitespace, the fully digital e-trading platform and Verisk business, has launched new library and contract builder capabilities.

Aon, a global professional services firm, and Columbia University, an Ivy League research university based in New York, have renewed their partnership until 2027 to enhance research on the correlation of climate risk between various perils and regions.

Inscora, a Montreal-based startup, has secured $2m in funding to enhance its cyber insurance solutions.

Insured Nomads, a leading global provider of health insurance and assistance products for modern companies and travellers, has partnered with Global Nomad Pass to incentivise travellers, remote workers, and digital nomads to shop with local businesses.

Credit Agricole Bank Polska has leveraged Comarch's expertise to redefine the customer experience in banking.

Handling health and lifestyle data involves several intricate challenges, primarily due to the sensitive nature of the information. Ensuring privacy is a top priority, and securing consent for data use can be complex, especially if not addressed early in the process. This often restricts analysis to internal use only, limiting the involvement of external experts and increasing the risk of bias due to broad consent requirements.