Sent on February 17, 2016

News
MGAs must take advantage of their mandate to innovate
16 FEB 2016 | We start another year facing an oversupply of capacity, leading to rating decreases and widening of terms and conditions. The response most often heard is simply to continue calls for underwriting discipline. Yet I believe, in the face of a cycle that shows no sign of turning, the answer lies not in addressing oversupply but in the potential the huge unmet demand for insurance offers. This demand comes from the developing world’s chronic underinsurance and exposure to some of the most devastating natural catastrophe risks. In a recent report1 Swiss Re estimated while 73% of the losses from the 2012 ...
Lloyd's, XL Catlin, Munich Re Among Lemonade's Reinsurance Backers
15 FEB 2016 | Peer-to-peer insurance startup Lemonade said it has signed on several global reinsurers, including Lloyd’s of London, XL Catlin and Berkshire Hathaway’s National Indemnity. Everest Re, Hiscox and Munich Re have also come on board as Lemonade’s reinsurance partners. Reinsurance backing enables Lemonade to proceed with its consumer launch “in the coming months,” according to the startup’s Jan. 9 announcement, though the company doesn’t yet specify a particular launch date. Lemonade has said that it will launch in the first half of 2016.
France's AXA Invests $85M in Africa-Based Online Insurance Seller
10 FEB 2016 | AXSA plans to invest 75 million euros ($84 million) in Africa Internet Group, the Nigerian owner of online businesses including retailer Jumia, as France’s biggest insurer extends its product offering to customers on the world’s least developed continent. The deal will give the Paris-based company an 8 percent stake in AIG, making it one of the company’s four largest shareholders alongside MTN Group Ltd., Africa’s biggest mobile- phone company, Millicom International Cellular SA and Berlin- based Rocket Internet SE, AIG said in a statement on Monday. The partnership will enable AXA to provide insurance products and services catered to the African market through Jumia, the company said.
Manulife seeks to trade health data for insurance premium discounts
10 FEB 2016 | Manulife Financial Corp. is bringing its fitness trackers and financial incentives to the Canadian market. The country’s largest life insurer has struck an exclusive agreement with wellness program provider Vitality Group to offer savings on life insurance premiums to customers who prove that they are taking steps to improve their health, such as getting vaccinated and going for cancer screenings. This new type of insurance launched in the United States last spring through Manulife’s subsidiary, John Hancock Financial Services, and now its coming north of the border.
Turtlemint raises venture capital from Nexus, Blume
09 FEB 2016 | Online insurance platform Turtlemint has raised an undisclosed amount from Nexus Venture Partners and Blume Ventures. Turtlemint follows an online-offline model and provides recommendations to customers based on proprietary algorithms and data analytics, and offers a network of offline facilitators to help complete the insurance purchase and provide claims assistance.
Zendrive Picks Up $13.5M to Monitor Safe Driving
09 FEB 2016 | Zendrive Inc. has raised $13.5 million for software that analyzes data coming off smartphone sensors to gather information on safe driving, part of a growing movement to use technology to track drivers. The Series A round was led by Sherpa Capital, whose co-founder, Shervin Pishevar, is a board observer at the ride-sharing service Uber Technologies Inc. and a co-founder of Hyperloop Technologies Inc., which was inspired by Elon Musk.
Insights
IoT to transform insurance, Zurich, ProtectYourBubble and Swedbank Insurance explain why
08 FEB 2016 | IoT is changing B2B and B2C interactions. The world is becoming increasingly connected with autonomous vehicles, connected household items, and wearables abound. According to a recent survey by FC Business Intelligence, 82% of insurers feel that IoT is also important to the future of their business. We caught up with Zurich, Protect Your Bubble, and Swedbank Insurance to find out how IoT can support insurers moving in to the future.
INSURANCE INTERNET OF THINGS INDUSTRY SURVEY
15 JAN 2016 | At the beginning of the year, everyone is looking at how to identify the crucial elements of change that will affect their business in the next twelve months. Discussions from CES 2016 showed that the attention for a lot of companies has turned to connected devices and the internet of things.
Agenda
The Insurance Summit 2016: Guardians of the Future
25 FEB 2016 | With the overall theme being “Insuring the Uninsured” the Insurance Summit 2016 will focus on the disruptive forces shaping the future of the industry and delve into the commercial and new growth opportunities arising from market consolidation and a closer alignment with the sustainable development agenda. Key topics and confirmed speakers include: The role of insurance as a risk manager in society Lise Kingo, Executive Director Global Compact, United Nations examines the findings of the “Insurance 2030” UN report. In order to provide universal access to insurance and prevent the uninsured from the impact of climate change and natural disasters, is there a need to establish Insurance Development Goals, in line with the UN’s SDGs? New opportunities through consolidation Bart de Smet, Chief Executive Officer, Ageas examines how western insurance companies can continue to grow through joint ventures and contextualises this with Ageas’ experience entering new markets particularly in Asia. Michel Khalaf, President EMEA, Metlife will present the company’s strategy for thriving in the Middle East and Africa. The evolution of risk through technology From the rapid spread of the Internet of Everything through to the Internet of Things and the rise of smart cities, driverless cars, and artificial intelligence, Maurice Tulloch, Chairman, Aviva Global General Insurance and Chief Executive Officer, Aviva UK and Florian Herzog, Chief Engineer and Founder, swissQuant will elaborate on what priorities should the insurance sector have in order to remain relevant and connected to its clients in a technological world? Who should attend: • Directors and senior business decision-makers responsible for business strategy, development, risk management, regulation, legal and marketing (COO, CTO, CRO) • Economists • Investment advisors • Insurance specialists/intermediaries • Fund Managers • Actuaries/Accountants/Auditors From industries including: General Insurance and Re-Insurance, Insurance Brokers, Life, Medical Insurance and Healthcare cover, Loss Adjusters & Claims Service providers, Specialists/intermediaries(accountants, actuaries, consultants, lawyers and software providers, Government and Regulators, policy makers, professional associations, academia, media Why attend the Insurance Summit 2016? • Learn about new growth prospects, where to find them and how to close the global protection gap • Challenge the adequacy of current business models and discover what the insurance company of the future looks like • Explore the opportunities consolidation offers and whether it will drive expansion into new markets • Gain insights on disruptive technologies that will transform the insurance industry • Discuss how to tackle climate change, foster sustainable development and the industry's relevance for these global endeavours Insurtech News subcribers are entitled to a 20% discount on the delegate registration fee of £995 + VAT. Contact me today for your booking code. Contact: Laurence Allen, Marketing Manager Email: laurenceallen@economist.com Tel: 0044 (0) 207 576 8118 About Economist Events: Economist Events gather the world’s top thinkers to build insight and exchange views on the issues that define our world. With a uniquely global perspective, we create over 100 unusually high level and engaging live and virtual events each year. Our aim is to bring clarity to complex problems, inspire ideas and to help our audiences make better decisions.
Connected Car Insurance Europe 2016
12 APR 2016 | This is the largest and most comprehensive forum in Europe dedicated to connected car insurance. With over 400 attendees from across 25+ countries globally and 50+ executives speakers, this event will address the technological challenges and new business models to impact the motor insurance industry as it converges with the connected car.