Caused by #floods in Quebec Insurers in #Canada face the worst ever year for #NatCat losses, reports @_theinsurer https://t.co/gfJrMMShX2

Banks are not fully exploiting the potential of #bancassurance. A survey conducted by @Sollers_ in collaboration with @Ipsos, shows that 44% of customers say that they are open to buying #insurance from a bank. https://t.co/HnDnKvyhAu

Weather-related topics are increasingly taking centre stage in the insurance industry. Insurers need to respond and prepare. Premium increases and prevention are just one part of the answer. Technology driven innovation will help both, customers and insurers.

TERRY GANGCUANGCO reports about a “meaningfully” imporoved combined ratio at @QBE after 1h2024 due to lower catastrophe costs, more stable reserve development, and supportive premium rate increases.

"Our results were achieved amid significant natural catastrophe activity in the second quarter – and notably in our home market", said @Allianz CEO Oliver Bäte. JACK WILLARD reports about profit growth of the insurer inspite of natural catastrophes affectiin the business.

“Natural catastrophes are risks that insurance companies can cover, the question is the cost,” said Zurich-CEO MARIO GRECO. @Reuters journalist @reutersCarolynC reports about a record first-half operating profit of @Zurich .

Weather-related losses have become a major problem for insurers. However, there is a lack of operational capabilities in the industry. According to a recent Sollers survey, customers expect their insurers to process claims quickly when they report a claim. https://t.co/Z8CUBYbV9w

Within P&C, net premiums written of @Chubb increased 10.3% year-on-year to $11.8 billion compared with $10.7 billion in Q2 2023, reports SAUMYA JAIN.

The insurance buisness of the French bancassurance company @BNPParibas increased 81% in 2q2024 driven by an extended cooperation with the #insurtech @Lemonade_Inc and the #affinity cooperation with @orange

As #motor insurance rates increase by more than 10% in the US 13,4% of customers have started to shop around - but only 3,9% actually change their insurer, @ijournal reports based on data by @JDPower

The LondonMarket is at the start of a fundmental change. Interesting interview of @ArchInsInt manager SIMON WILLIAMS in @_theinsurer

The German insurer @Allianz as well as the Danish insurer @TrygDK were impacted by the #CrowdStrike outage https://t.co/bG1jLr4INY https://t.co/EyB3CqOd59

Insurance companies are investing already a lot in IT regulation. More is coming up.

Insurance companies currently profit on strong growth momentum, with average premium income of the leading insurance companies increasing 7% in 1q2024. Next year it will be more difficult, predicts @SwissRe.

After strong profit increases #Sompo, #MSAD as well as #TokioMarine expect further improvements in 2024 driven by oversea growth. "In digital transformation, overseas subsidiaries will provide more stimuli for the market", comments JEREMI NAZARUK from @Sollers_

After two loss making business years the UK insurer @DirectLine aims at reducing costs by 165 m GBP in 2024 and 2025. “UK insurers will move to the cloud to to offer cost-effective customer services” comments ALESANDER CZARNOŁĘSKI. https://t.co/Rm9yo0iFgI

Sampo obtains all regulatory approvals needed to acquire Topdanmark remaining shares. https://t.co/3aQVPJAPRj

ADAM MC NESTRIE and CATRIN SHI write about a possible takeover of London market insurer Hiscox by @Generali and/or #Sompo.

“There is a strong trend towards integrated underwriting solutions that enable insurers in the London market to rationalise underwriting and process #data more efficiently”, comments JAKUB WRÓBLEWSKI, UK London Market Lead at @Sollers_

Maintaining testing momentum is critical for Blueprint Two adoption, even amidst general tiredness and frustration, comments WOJCIECH KOROBACZ from @Sollers_. The current delay gives everyone more time to test the new flows - close cooperation will be crucial.