Acxion Corp., Little Rock, Ark., has released Personicx, a household-level customer segmentation system, which places each U.S. household in one of 70 life state segments. A dozen large national corporations were involved in beta testing, including BB&T Corp., a Winston-Salem, N.C.-based financial holding company.
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.
