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17th February 2019

Newslink Global Insurance Trends-The Week
Trend

This week, cyber issues continued to headline-Aon released its 2019 Cyber Security Risk Report. The report, which details the greatest cyber security threats and challenges organisations are currently facing, discusses that as companies continue to use technology to speed up the transfer of information, game-changing business opportunities are created, as well as increased cyber risk. Meanwhile, Europ Assistance Cyber Barometer explored consumer sentiment on Cyber Security across nine countries.
Standard & Poor's said European insurers are well-placed to withstand economic uncertainty. UK broker businesses are growing increasingly concerned about Brexit uncertainty and the economic climate but won’t let this affect their plans for growth, according to Aviva’s latest Broker Barometer survey. A Conning study suggested US workers' compensation insurance results of recent years are poised for change.
Insurance Europe published an update to its online consumer focus tool, which outlines examples of the work undertaken by Europe’s insurers to provide innovative products and services for consumers, whilst trade association AMICE highlighted the impact of disparate and excessively burdensome regulation on the mutual and cooperative insurance workforce. The International Underwriting Association(IUA) said people using driverless cars should still not take their eyes off the road if they could be expected to take over the vehicle at short notice in an emergency. Majesco announced the release of "Strategic Priorities 2019: Accelerating the Paths to the Future of Insurance" based on its fourth annual survey of insurers across all sizes and lines of business. Digital Risks achieved Lloyd’s coverholder status. South African insurer Santam selected further Guidewire solutions, Honcho poses a threat to UK price comparison aggregators with its digital, time-saving approach aimed at appealing to millennials, according to GlobalData, and RMS released its U.S. Wildfire High Definition(HD) Model.
AXA XL's integration plan could potentially result in a reduction of 711 positions in Europe, The Hanover is to join RSA's Global Network as a Strategic Network Partner in the US, and Pool Re welcomed new legislation to allow coverage of losses incurred if a business cannot trade or is prevented from accessing its premises in the wake of a terrorist attack. deVere Group acquired in the UAE. 2018 and fourth quarter financials continued to flow-they included AIG, Allianz, and Manulife; Arch Capital, Argo, CNA Financial, Everest Re, Fairfax Financial, and Lancashire Holdings. There was a senior appointment at RMS.
Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com