Navigational sensors built into consumer devices such as smartphones are capable of detecting surface displacements from moderate and larger earthquakes, a new study has found. Published last week in the Science Advances journal, the research article, Crowdsourced earthquake early warning,…
IT research and consulting firm Celent estimates that total insurance IT spending across North America, Europe, Latin America, and Asia-Pacific will grow to US$174.9 billion in 2015, with continued growth to US$189.2 in 2017. This upward shift is above last…
Improving experience for customers is a high priority for North American insurers, but many businesses invest in technology for reasons other than customer service, speakers suggested Tuesday at AudaVision Toronto 2015. Strategy Meets Action (SMA), a Boston-based research and advisory…
Commercial insurance prices in aggregate have been increasing marginally for the past two years, with the 2014 fourth quarter results the highest reported since Q2 2012, according to a new survey from Towers Watson. Released to the media on Tuesday,…
The global reinsurance industry managed to deliver solid results in 2014, with most companies reporting strong combined ratios and profitable returns, despite increased challenges in terms of price declines, increased commissions and tougher terms and conditions, A.M. Best Company said…
Insurers have become increasingly pessimistic about the possibility of a material change in interest rates this year, suggested a study published Thursday by ratings firm A.M. Best Company Inc. The special report, titled A.M. Best Winter 2014 – 2015 Insurance…
Europe’s four largest reinsurers, as well as the Lloyd’s market, posted “very strong underwriting results” in 2014, but they continue to face pressure from alternative sources of capital, A.M. Best Company Inc. suggested a report released Wednesday. “The major European…
In today’s data-rich environment, property and casualty insurers have an unprecedented opportunity to move beyond a one-size-fits-all approach, and tailor newer, more profitable offerings based on each customer’s usage and needs. The key to future profits may lie buried in the data that insurers already have.
For those in the property and casualty insurance industry, be it broker, company or vendor, it is an oft-asked question that, once answered, is simply asked once again: What do customers want? In Canada’s ever-changing p&c environment – a place…
The majority of loss arising from the Germanwings plane crash in the French Alps last week will likely be absorbed by the Lloyd’s market, as well as a number of global insurers and reinsurers, suggested a briefing from ratings firm…
“Data is a major enabler in innovation in new products and markets,” demanding that mutuals commit to developing a data strategy, John Taylor, president and CEO of the Ontario Mutual Insurance Association (OMIA), said Thursday. Mutuals must continue to make…
Intact Financial Corporation (IFC), Canada’s largest provider of property and casualty insurance in Canada with $7.3 billion in premiums, announced on Tuesday that it has launched Intact Lab – its centre for digital excellence. The Intact Lab will be based…