Insurance

The glass tower in Paris where Axa SA, one of the world’s largest insurers, has its temporary headquarters looks as if a giant feral cat has ripped chunks out of it. In recent months that jagged feeling extends inside, too, as senior executives prepared to claw off an extraordinarily profitable part of the company’s $20 billion business: the oil and gas clients whose ties to the insurer go back decades.

Nationwide recently announced a new partnership and the expansion of another as the company continues to grow its Internet of Things capabilities.

The company announced the launch of its first offering in February, a telematics-based platform that is designed to modernize commercial fleet insurance by using vast amounts of driving data gathered from sensors on trucks.

Digital Insurance received responses via email from Dr. Caro Gabor, CEO of Movinx, a global insurtech platform and a joint venture between Swiss Re and Daimler Insurance Services. Dr. Gabor discusses Movinx, auto industry trends and embedded insurance.

Despite an influx of potential rental insurance customers, carriers must innovate to cut through the noise and connect with their best prospects on a personal level to ultimately turn them into a client. With so much competition, simply reaching out at the right time may not be enough. Insurers need to understand these consumers on a deeper level.

Automation is well-positioned as a maturing technology that facilitates digital transformation without jeopardizing customer service.

Partnerships between automakers and insurance carriers have existed for decades, but more recent deals offer customers insurance options at the point of sale using telematics data capabilities built into connected-car platforms.

Almost half of the five-star ratings mentioned a good experience with an adjuster as the primary reason for satisfaction in a claims process, according to the customer satisfaction surveys analyzed by Hi Marley.

Although almost 60% of employees at agencies are women, only 31% are owners and principals, according to data from The State of Women in Independent Insurance Agencies report, conducted by Liberty Mutual and Safeco Insurance.

After reviewing the claims data from 2019 to 2021, Embroker uncovered some interesting trends and shifts that can help insurers predict the types of claims that businesses will most likely continue to see in 2022.

While digital life insurance buyers find it easier than expected, lags in policy delivery impact customer relationships right off the bat.

The U.S. Department of Transportation proposed on Thursday that lane-keeping support, automatic emergency braking, blind spot detection and blind spot intervention be incorporated into its Five-Star Safety Ratings program for new cars.

Satisfaction scores dropped when customers submitted photos digitally, but still had to schedule an inspection, market research firm finds.

Hub International Ltd. is partnering with Bold Penguin Inc. to acquire Insureon Holdings LLC’s assets in an effort by the broker to build out its digital capabilities.

Russian digital warfare against Ukraine and potentially other nations as part of its invasion is prodding cyber insurers to beef up language protecting them against losses, and has left policyholders uncertain about the extent of their coverage.

The U.S. National Highway Traffic Safety Administration has opened defect investigations in the past two weeks of cars made by Honda Motor Corp. and Tesla Inc. and equipped with automatic emergency braking systems.

Matheus Riolfi and Jerome Selles met while working at Turo, a car-sharing marketplace, where they both did work on the global expansion of its insurance program. During that time, the two saw an opportunity to start their own insurtech, Tint.

More than 126,000 commercial buildings in London are at risk from flash flooding. Climate change will heighten that threat.

Digital Insurance received responses via email from Yael Wissner-Levy, vice president of communications at Lemonade about its pet insurance product and consumer education.

The merger with Delwinds Insurance Acquisition Corp. will value the combined company at $369 million, said the people, who asked to not be identified as the details are private.