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Insurance
NFIP overhaul needs to include new risk maps, increased coverage and higher rates
The US National Flood Insurance Program (NFIP) is in need of a significant overhaul which should include an expanded coverage, updated flood maps and higher rates, according to experts speaking to Intelligent Insurer.   29 September 2017
Insurance
Automation to improve insurers’ earnings by 37%, reduce staff numbers significantly
Robotic Process Automation is expected to improve insurers’ earnings by about 37 percent with staff numbers falling 20 percent in back office functions, according to a base case scenario by Royal Bank of Canada (RBC).   29 September 2017
Insurance
Insurers need help, says startup boss
Across Europe, insurers spend billions of dollars every year in just claim processing costs, and they need help changing this, according to Lex Tan, founder of insurtech startup MotionsCloud.   29 September 2017
Insurance
Hurricane Maria insured losses at up to $30bn
Insured losses from Hurricane Maria will be between $15 and $30 billion, according to estimates by risk modelling firm RMS.   29 September 2017
Insurance
Allianz Global Corporate & Specialty appoints NA head of aviation
Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has named David Warfel as head of aviation, North America.   29 September 2017
Insurance
Tokio Marine Asia head resigns
Tokio Marine Holdings said on Sept. 29 that chief executive of Tokio Marine Asia Arthur Lee has resigned with effect on Sept. 30, 2017.   29 September 2017
Insurance
Act now or get left behind, warns start-up founder
The industry is waking up to the need to change but insurers that don’t move now, risk getting left by behind by competitors that act first.   29 September 2017
Insurance
Concirrus: understanding risk in marine insurance
London-based insurtech startup Concirrus was founded to fill the gap in the commercial lines market.   29 September 2017
Alternative Risk Transfer
The need for growth
Rather than taking advantage of a potential market shift following Harvey and Irma, it’s more important that we think about the transformational steps we can take to expand the ILS market, says Tom Johansmeyer of Verisk Insurance Solutions.   28 September 2017
Insurance
2017 cat losses could reach $190bn and mean downgrades
Following the devastation caused by Hurricane Maria, 2017 catastrophe losses for the global insurance and reinsurance sectors will exceed $100 billion and could reach close to $190 billion on a pre-tax basis, according to Fitch Ratings.   27 September 2017

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