Personal auto insurance underwriting profitability appears to finally be headed in a positive direction after recent years of record underwriting losses. But while these gains show improvement, it will likely take time for them to be reflected in flattening premium rate, according to the Insurance Information Institute (Triple-I).
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The U.S. property and casualty insurance market is set for a return to underwriting profitability and significant improvements in return on capital for the full 2024 year. However, results may not match first-quarter levels due to uncertainty about natural catastrophe exposures and loss reserve experience, according to Fitch Ratings Report. https://lnkd.in/d7wWS56v
US Property & Casualty Insurance Set for 2024 Profit Boost
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The low interest rate years were challenging for people trying to save for retirement. Low rates made savings products and life insurance less appealing, and real savings growth of 1.1% in the pre-Covid-19 decade lagged behind economic growth. At the same time, the responsibility for retirement savings is shifting to individuals as traditional systems face funding issues. https://lnkd.in/d82Axhe2
Retirement Savings Gap and Life Insurance Strategies
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Amidst rising tensions and shifting priorities between global powers in cyber space, the most important threat to businesses is the growing professionalisation of cybercriminals as they carry out sophisticated attacks with impunity from hostile countries.
How Geopolitics Reshapes the Cyber Threat Environment?
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Novidea, a developer of a cloud-based, data-driven insurance management platform, has announced the acquisition of Docomotion https://lnkd.in/dSJScWUs
Novidea acquires automated document generation startup Docomotion
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Insurtech Feather, a startup offering digital insurance solutions for expats in Europe, has secured €6 mn in funding. Keen Venture Partners led the round https://lnkd.in/dk2H7a3Y
Insurtech Feather sequred €6 mn in funding led by Keen Venture
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Eastern Alliance Insurance Group, a wholly-owned subsidiary of ProAssurance Corporation, has selected the CLARAty:ai platform https://lnkd.in/dU47tChc
Eastern Alliance Insurance selected CLARA Analytics' insurtech platform
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Wopta Assicurazioni, an insurtech MGA focused on protecting businesses and professionals from everyday risks, has closed a €4.1 mn Series A funding round https://lnkd.in/dsfheY2U
Insurtech Wopta Assicurazioni closed a €4.1 mn Series A funding
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Kin reported its operating results for the Q1 2024. The company achieved $112.7 million in gross written premium, marking a 53.8% increase https://lnkd.in/dsiQZaJw
Insurtech Kin achieved $113 mn in written premium in Q1 2024
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Digital reinsurance platform Supercede has sequred $15 mn in a Series A funding led by Alven, with participation from Mundi Ventures, Outward, Seedcamp https://lnkd.in/d6p3FXWz
Reinsurance platform Supercede sequred $15 mn in a Series A
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The European Insurance and Occupational Pensions Authority (EIOPA) has updated its 2021, decision on supervisory collaboration https://lnkd.in/dURPq447
