Digital Insurance

The American Property Casualty Insurance Association, Smart Home America and the National Multifamily Housing Council leaders spoke about ways governments and homeowners can mitigate or prevent flood damage. “We're getting needless flood losses because the storm water systems aren't brought up to current requirements,” said David Snyder, vice president, international policy, American Property Casualty Insurance Association. The government has unique abilities to address this issue through funding of disaster response and recovery, and creating and enforcing building codes, he added. https://bit.ly/4iDdj5l #insurance #PropertyAndCasualty

Darryl Siry, chief operating officer, Cover Whale, spoke about hiring for AI departments. “I think the mistake some people make is that they go try to hire for the skillset and not the industry domain knowledge. So they'll go and they'll say, I need to hire a PhD in AI. But if they don't understand insurance, they're going to spin their wheels there,” he said. https://bit.ly/4hATsTb #HR #AI #insurtech

Affinity insurance can help address financial protection needs, writes Ann Dieleman, MBA, PCC, executive director of the Professional Insurance Marketing Association (PIMA). “With 49% of U.S. adults unable to pay bills and one-third reporting they do not feel financially secure, achieving financial protection has become more urgent than ever,” she writes. https://bit.ly/4bKUzi1 #insurance

Munich Re acquires Next Insurance for $2.6 billion. Next Insurance will join ERGO Group AG, the primary insurance business of Munich Re. Markus Rie?, CEO of Ergo Group, said in a statement: "This transaction marks the start of a new chapter for ERGO. Together with NEXT Insurance, we will tap into a highly attractive market overseas.” https://bit.ly/41KUSVs #mergersandacquisitions #insurance #reinsurance

Managing large amounts of data can provide invaluable insights for new products and services, but protecting the information from unauthorized access is vital.

Markel Insurance SE and Manulife Asia name new CEOs, plus more career moves from Farmers Insurance, The Mutual Group, Beazley, American Financial Group, Travmark and Zinnia. https://bit.ly/41FuCf8 #peoplemoves #insurance #insurtech

The Federal Reserve Board appears to be on hold, waiting for clarity on inflation and fiscal policy. The March 18-19 Federal Open Market Committee meeting, with a new Summary of Economic Projections will illuminate members’ revised thoughts on interest rates. Join The Bond Buyer March 20 (today) at noon as Michael Goosay, Chief Investment Officer of Global Fixed Income at Principal Asset Management, breaks down the meeting, Chair Powell’s press conference and the SEP. https://bit.ly/3Fm0r4Z

How can insurers support social sustainability? Adam D., global industry leader for insurance, Capgemini, has answers: 1. Maximize claim payouts vs. operational costs (reduce overhead, increase share of premiums available to cover losses). 2. Expand access to fairly priced coverage (right product and correct price for each risk). https://bit.ly/4l1zqnI #insurance #ESG

The American Property Casualty Insurance Association, Smart Home America and the National Multifamily Housing Council leaders spoke about ways governments and homeowners can mitigate or prevent flood damage. “We're getting needless flood losses because the storm water systems aren't brought up to current requirements,” said David Snyder, vice president, international policy, American Property Casualty Insurance Association. The government has unique abilities to address this issue through funding of disaster response and recovery, and creating and enforcing building codes, he added. https://bit.ly/4iDdj5l #insurance #PropertyAndCasualty