Castek Software Factory Inc., Toronto, has delivered its first release of Insure3 Claims to National Grange Mutual and another company that chooses to remain anonymous. The claims management, claims processing and communications functions of Insure3 Claims complement the functionality of Castek's Insure3 Policy.
The top five insurance companies have an average P&C market share of 6.50% as of December 31, 2023.
Lloyd's appointed Dawn Miller as chief commercial officer, and CEO of Lloyd's Americas; plus more career moves.
Greater exposure to climate risks is driving an increase in insurance premiums and decrease in insurance availability.
Capgemini Research Institute's World Property and Casualty Insurance Report 2024 indicates insurance executives see the potential benefits of AI and ML but underwriters are concerned about overcomplexity and data integrity.
Laws against inducements and referral fees are among the obstacles for carriers looking to distribute coverage by embedding it in other channels.
The two companies, units of Japan-based Tokio Marine Holdings Inc., said the decision will affect 12,556 policies with premiums of $11.3 million.
