Artificial intelligence (AI) and the Internet of Things (IoT) now account for almost half of total investment in insurance technology (insurtech) startups globally, according to new research from global professional services company Accenture. The research, which includes new analysis of…
Lloyd’s, the world’s specialist market for insurance and reinsurance, has reported a pre-tax profit of 2.1 billion pounds for 2016, the same as in 2015. The level of Lloyd’s major claims last year (2.1 billion pounds compared to 0.7 billion…
There is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,…
DETROIT – Ford is recalling more than 570,000 vehicles in North America and Europe to fix separate problems that can cause engine fires and doors to fly open unexpectedly. The recalls will hit the company’s bottom line in the first…
Both economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss…
While the risk of overland flooding in Manitoba has been slightly reduced since the provincial government’s outlook in late February, it still remains moderate to major across the province, the provincial infrastructure minister said on Friday. “The province’s Hydrologic Forecast…
The lion’s share of insurance companies taking part in a KPMG International-commissioned survey plan to make acquisitions in 2017, with most respondents saying their companies are being driven by need to transform business and operating models. The insurance sector looks…
A new survey out of the United States exploring the sentiments of older drivers 65 and over shows about half of the respondents would not be comfortable riding in an autonomous vehicle, but they see great value in active safety…
The majority of chief compliance officers (CCO) in the United States taking part in a KPMG LLP survey are struggling to integrate and automate compliance activities across their organizations. Six in 10 polled CCOs report “their company’s technology infrastructure has…
Commercial insurance prices in the United States were almost flat during 2016 Q4, with price increases of less than 1% for the fifth straight quarter, Willis Towers Watson (WTW) reports in its latest Commercial Lines Insurance Pricing Survey (CLIPS). CLIPS…
KANSAS CITY, Mo. – The winds fueling deadly wildfires that scorched vast swathes of land in four Plains states finally dropped Thursday, bringing hope to crews trying to contain the blazes. Emergency personnel warned, however, that extremely dry conditions and…
As of March 8, cumulative preliminary tornado, hail and straight-line wind reports in the United States for the year have all been more than double their respective 2005-2015 averages, according to the records of the National Oceanic and Atmospheric Administration’s…