Insurance-Canada.ca - Where Insurance & Technology Meet

SpatialKey and Swiss Re collaborate to bring P&C insurers added choice and precision in global hazard risk selection

Denver, CO (Feb. 13, 2018) – SpatialKey Inc., the leader in geospatial insurance analytics, has partnered with leading global reinsurer Swiss Re to offer insurers access to multi-peril hazard data through SpatialKey’s proprietary underwriting solution. This collaboration integrates Swiss Re’s CatNet® hazard data directly into SpatialKey, providing insurers with access to 10 hazards worldwide for… Read more »

Preliminary sigma estimates for 2017: global insured losses of USD 136 billion are third highest on sigma records

20 DECEMBER 2017, ZURICH Total economic losses from natural and man-made disasters in 2017 are estimated to be USD 306 billion, up from USD 188 billion in 2016 Global insured losses from catastrophes in 2017 are estimated to be USD 136 billion, the third highest on sigma records The US was hardest hit, including by… Read more »

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Product innovation extends the reach of commercial insurance

Highlights of the Latest Swiss Re sigma study Structural changes in the economy create new risks, such as supply chain disruption The corporate sector has changed from being dominated by manufacturing, with physical assets, to services with mostly intangible assets To meet the needs of a service economy, new products are being developed, improving insurability… Read more »

Swiss Re develops solutions to help clients address new challenges

Demand continues to grow for new solutions beyond traditional core reinsurance business; Swiss Re, a founding member of insurance industry blockchain initiative B3i, continues to deliver solutions that meet clients’ needs, as new technology enables solutions across multiple lines of business and the value chain Swiss Re expects prices to stabilise due to recent loss… Read more »

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Studies show insurance mitigates risk of poverty and contributes to overall development in emerging markets

New sigma study from Swiss Re Insurance has grown rapidly in emerging markets but there are still significant protection gaps Evidence-based research shows that insurance facilitates higher income-generating activity by households and small business, and can improve quality of life Understanding the heterogeneity and barriers to insurance in emerging markets supports establishment of effective risk… Read more »

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Global Insurance Premiums Increased In 2016; Overall Growth Outlook Remains Positive

Swiss Re Institute sigma study • Global insurance premiums increased by 3.1% in 2016; down from 4.3% growth in 2015. • Life premium growth slowed to 2.5% and non-life to 3.7% in 2016, due to weaker performance in advanced markets • Profitability in the life and non-life sectors weakened amid low interest rates and robust… Read more »

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Earthquake Risk in Eastern Canada: Swiss Re Institute

Toronto, ON (July 13, 2017) — Western Canada’s high exposure to earthquake risk is well known, given its proximity to an area of intense seismic activity off the coast of British Columbia, one which has the potential to produce some of the strongest earthquakes in the world. Eastern Canada is also exposed to earthquake risk,… Read more »

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Global insurance premiums increased in 2016, overall growth outlook remains positive

Latest Swiss Re Institute sigma study Global insurance premiums increased by 3.1% in 2016; down from 4.3% growth in 2015. Life premium growth slowed to 2.5% and non-life to 3.7% in 2016, due to weaker performance in advanced markets Profitability in the life and non-life sectors weakened amid low interest rates and robust competition Life… Read more »

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Global insurance premiums increased in 2016, overall growth outlook remains positive

Latest Swiss Re Institute sigma study Global insurance premiums increased by 3.1% in 2016; down from 4.3% growth in 2015. Life premium growth slowed to 2.5% and non-life to 3.7% in 2016, due to weaker performance in advanced markets Profitability in the life and non-life sectors weakened amid low interest rates and robust competition Life… Read more »

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The Rollout of Automated Driver Assistance Systems and the Impact to Insurance Costs

Long available as high-end luxury vehicle options, Advanced Driver Assistance Systems (ADAS) are now offered on a number of 2017 vehicle models. For example, Toyota Safety Sense offers an ADAS bundle that will be included as standard on the majority of Canadian models starting with the 2017 model year. How is the insurance industry responding… Read more »