News

Bulgarian NADEZDHA Insurance Company's licence revoked

The Bulgarian Financial Supervision Commission (FSC) has revoked the licence of NADEZDHA Insurance Company for carrying out insurance activity for all classes of insurance, forbidding the company to conclude any new re/insurance contract for six months.

23.08.2017

Claims Corporation Network launched a new AI claims system

Claims Corporation Network ("CCN"), a EU TPA Claims Service Provider, has announced the launch of a new AI claims system, "FlightClaimEU", designed to eliminate manual processes used to collect flight delay or cancellation data and distribute compensation to customers.

22.08.2017

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TOP EVENT

VIDEO: GIF 2017, LONDON: HRH The Prince of Wales welcome address

"Insurers have to play an important part not only in managing current risks, but also in modelling the future by contributing to a better understanding of risks, to closing the insurance gap and setting an example of responsible investment policy," HRH The Prince of Wales said in his welcome address at GIF 2017.

20.07.2017

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Statistics

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ON THE MOVE

MARKETS & TRENDS

Fitch: The "Big Four" European reinsurers resist pricing competition
Pricing discipline by Munich Re, Swiss Re, Hannover Re and SCOR is proving an important competitive advantage in the face of declining market pricing and investment yields, Fitch Ratings says in a report published on 16 August. More




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Press cuttings

POLAND's storms to cost insurers millions: report

Insurance companies in Poland may have to pay out a staggering PLN 400 million (EUR 93.5 million, USD 110 million) in compensation for damages caused by a series of severe storms that hit the country earlier this month, a newspaper has reported.

22.08.2017

SERBIA: Axa Life and Axa non-life Insurance in Serbia absorbed by VIG

Serbia's AXA Non-Life Insurance (AXA Nezivotno Osiguranje) and AXA Life Insurance (AXA Zivotno Osiguranje) have officially been absorbed by Wiener Stadtische Osiguranje. This marks the completion of the acquisition of the two insurers by the Vienna Insurance Group (VIG) in July 2016.

22.08.2017

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Interviews

photodune-2043745-college-student-s
Andrea KEENAN
Senior Managing Director - Industry Relations, A.M.Best USA
Vice Chair, Microinsurance Network
Microinsurance helps with financial education, family planning, development of small enterprises and maintenance of health, and the products are typically designed to address the specific needs of any given population.  A virtuous cycle develops as this produces income smoothing, larger planning horizons and the development of financial wellbeing.  It is challenging because, to be affordable, scale must be achieved.

INSURANCE & TECHNOLOGY

<!--sl-->How technology impacts the insurance sector
How technology impacts the insurance sector
Rather than merely adding value to the insurance sector, technology and technical innovations are now determining its very growth and evolution. The last few years have seen mobile devices, GPS functionality and social media engagement impact hugely as to how insurance claims are processed by companies and policies assessed by insurance agents. Analysis of data and the value of legitimate customer interactions is more important than ever and have helped insurance companies to maximize profits while keeping the customers happy. More


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