INSURANCE INDUSTRY NEWS
Agent-Carrier Connectivity & InsurTech Pressure
A new research report from Strategy Meets Action covers the business drivers, current state, future plans and projects, challenges, and investments that personal lines insurers are making regarding agent-carrier connectivity.
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Insurers Must Grasp “ABCs of InsureTech”
InsureTech is the buzzword of the moment, with billions of dollars of investment flowing into start-ups focusing on the sector. In response, Novarica has introduced its “ABCs of InsureTech” framework to help incumbent insurers get a better grasp of the space.
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Fitch Changes P&C Sector Outlook to Negative
Fitch Ratings has changed the fundamental sector outlook for the U.S. property/casualty insurance sector to negative from stable, reflecting recent declines in profitability and anticipated further earnings deterioration in 2017 due to more competitive market conditions
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The Best Advice: Robo Advisors Vs. Agents
Disruption of the agency model seems to be a foregone conclusion, judging by the amount of recent investment in InsurTech startups focused on transforming the distribution model. However, consumers use agents for very good reasons.
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Internet of Things Plans and Priorities
The IoT could change every part of the insurance value chain, but also delivers large volumes of data that need to be integrated into and processed by core systems. In a new report, Celent looks into what P&C core systems vendors are doing to make this happen.
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Implications of ‘Pay As You Use’ Insurance
What if insurance pricing changed so that the frequency of use by an individual user drove pricing? A new report from Celent – the second in a series – details a scenario-planning model which helps insurers extract clarity from confusion.
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Verisk Analytics Acquires MarketStance
Verisk Analytics, Inc., has announced the acquisition of MarketStance, a leading provider of market intelligence data and analytics to the property/casualty insurance market. MarketStance will become part of ISO, a Verisk Analytics business and a leading source of information about property/casualty insurance risk.
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Burns Demeyere Joins McFarlan Rowlands
London-based McFarlan Rowlands Insurance Brokers has announced that Burns Demeyere & Associates (BDA) of Tillsonburg will join McFarlan Rowlands as of January 1, 2017.
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ClearPay Simplifies Payments for Power Broker Users with the Power of BrovadaOne
ClearPay has announced that insurance brokerages running Power Broker can issue electronic payments and automatically send remittance information to their valued insurance carriers. This integration with Power Broker is provided through BrovadaOne, a Willis Towers Watson product offering.
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Collisions Rising Across English Canada
Collisions continue to increase in a number of provinces across Canada, with the national collision frequency rate rising despite improvements in Alberta and New Brunswick, the latest Allstate Insurance Company of Canada Safe Driving Study reveals.
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Collisions Decrease Across Quebec
Quebec drivers may be becoming safer drivers, as the fourth annual Allstate Insurance Company of Canada Quebec Safe Driving Study reveals that the communities it serves saw an overall decrease in collisions since the previous period.
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