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NewsBriefing: Risk registers need a revamp to be ready for a working world post-Covid-19
Insurance needs to play a bigger role in responding to risk flexibly moving forward
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Insurance sector is in ‘a digital arms race’ – Salesforce
The industry needs to get better at using data for cross-selling and upselling opportunities, according to expert panel
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Swiss Re and Diameter Health join forces for breakthrough in digital health data
Swiss Re and Diameter Health join forces to offer first-ever scalable solution to use electronic clinical health data for life insurance underwriting.
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Pandemic’s second wave threatens to derail Dubai’s tourism surge
Dubai, one of the few destinations open to international travellers since July, has yet to impose the toughest restrictions after record daily infections in the UAE, in the hope that vaccinations will spare a repeat of last year’s lockdown.
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Ping An Insurance annual profit drops for first time since 2008
The insurer reported a 4.2% drop in annual net profit, in part due to a slowdown in agent sales.
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Vaccination delay could cost EU economy 90 bln euros - Allianz study
The EU faces a potential 90 billion euro ($108.19 billion) hit to its economy this year unless it catches up with the pace of COVID-19 vaccinations in other regions, a study showed on Wednesday.
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Cyber insurers see ‘strong growth’ for coverage after spate of online scams amid lockdown
Despite this, insurers must have adequate capacity to cover evolving cyber fraud
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AM Best: UK Commercial Property Insurers Looking Beyond Difficult 2020
Disputes around non-damage business interruption (BI) cover, which made 2020 a difficult year for U.K. commercial property insurers, should subside in 2021.
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Insurer AIG pays $12 million fine in NY pension transfer probe
The settlement is the second in a probe by the New York State Department of Financial Services (NYDFS) into an industry in which life insurers take over corporate pension plans.
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Insurance systems are like a costly pre-Covid lease you can’t get out of - Stubben Edge
Chris Kenning, chief executive of Stubben Edge, on how to avoid getting locked into legacy systems that prevent an insurance business from meeting the demands of the modern market
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IUA appoints Zurich commercial head as new chairman
The International Underwriting Association (IUA) has appointed head of commercial insurance at Zurich UK, Robert Kuchinski as its new chairman.
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FCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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Allianz Partners teams up with Irish insurtech for post-pandemic travel insurance platform roll out
Allianz Partners has teamed up with Irish insurtech Blink. The partnership will oversee the mass roll out of Blink’s travel disruption insurance platform in the UK.
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Trõv partners with NIG underwritten electric car rental service for London fleet proposition
The partnership will see the two firms manage risk more effectively for electric cars
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Allianz gets approval to set up insurance asset management firm in China
Allianz said on Thursday it had obtained regulatory approval to set up China’s first wholly foreign-owned insurance asset management company, as the German insurer steps up expansion in the world’s second-biggest economy. The greenlight from the China Banking and Insurance Regulatory Commission (CBIRC) comes a month after the signing ...
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OUTLOOK 2021: Regulatory challenges abound for U.S. insurers as Biden takes over, pandemic rages
Insurers will also have to prepare for a year of heightened scrutiny on market conduct and consumer protection from states this year.
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Insurers face ‘mind-blowingly’ large loss if Olympics cancelled
Insurers are facing a $2-3 billion loss if the Tokyo Olympics are cancelled this year, amounting to the largest ever claim in the global event cancellation market, brokers say.
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Aon and Willis Towers Watson announce the future leadership team
“Aon and Willis Towers Watson have a unique opportunity to create a combined firm that will make an even greater difference in the global economy and provide unparalleled experiences for our clients and colleagues,” said Greg Case, Aon CEO.
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Mental health: The next crisis
Tackling mental health is not just the right thing to do, but an essential exercise in risk management, according to International SOS’ Dr Rodrigo Rodriguez-Fernandez.
