Economy

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.

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.

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.

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.

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.

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.

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