Insurance Pulse | August 2017

Here is this months summary from the team, the full list can be found here! We are getting some really great feedback and have interesting insights from Freddy, David, Claire & Team as to what works and what doesn't. Thanks to the team for the ongoing curation and support here. We will keep sharing our thoughts!

Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information?

T. S. Eliot could not have imagined how relevant these lines would be for financial services boards looking to understand and, where needed, change the culture of their organisations.When I speak to clients about governance, culture almost... Read more

Funding foreign futures.

A marketplace lender (MPL), Prodigy Finance, has secured $240m to expand its lending operations in the US. The lender is going after a niche market – namely, international students, in particular those at prestigious American universities. Such... Read more.

Hiring the misfits.

Enjoyed this - a really good read from Craig Foster. I agree with most of it, although I see myself more the eternal optimist. I personally rely on energy, sprit, optimism and a true belief that there’s so much to do. I'm equally pragmatic enough... Read more.

Too early to call the Death of the Hard Market?

When I arrived in the UK in October 1990, the Bank of England base rate was 14.5%. Most Property and Casualty insurance companies and brokers made, and even planned for, an underwriting or operating loss but enjoyed relatively handsome profits... Read more

Why reinsurers are perfectly placed to invest in start-ups.

It's always great to see start-ups and incumbents working hand in hand. I particularly love this example of how Munich Re and Bought-by-Many are teaming up to offer specific insurance products for niche customer segments. Not only does this unite... Read more.

A lesson in how NOT to commit insurance fraud #epicfail.

Given my recent posts on the use of social media and the rise in travel claim fraud, this is a particularly interesting case where both are at play. Read more.

Getting lemons from Lemonade?

A really interesting analysis and poses some tough questions on Lemonade and their performance to date. Their use of reinsurance (91%) and early stage ratios makes some eye watering reading. However, we shouldn't be surprised. If you look at what... Read more

Bank capital regulation - boomerangs, frisbees or both?

Recent media reports suggest that the Basel Committee has pushed back its meeting to finalise the Basel III regulatory package, citing difficulties reaching agreement on the level that should be set for new capital floors. This issue is the tip of... Read more

London Insurance Market is embracing the Digital Age.

Insurance transaction processing will become unrecognisable over the next 5 to 10 years as innovation and the digital age gather pace. The Structured Data Capture initiative, announced by the LMG today, is really just the thin edge of the wedge.... Read more.

GDPR and PSD2 - friends or foes?

The General Data Protection Regulation (GDPR) presents significant challenges for banks – by next May, they need to know exactly what personal data they hold, what it is used for, and whether they have the appropriate customers’ consent.... Read more

London to remain relevant as a major reinsurance hub.

News that the UK Government is working with regulators to allow insurance-linked securities (ILS) be issued from the UK, is a positive move in enhancing London’s position as a hub for alternative capital. This is particularly important as ILS is a... Read more.

The Model electric vehicle - Tesla bring us performance, technology AND savings.

No, I've not gone all Jeremy Clarkson, this is still insurance related. Whilst I love Tesla, the idea of electric vehicles and everything Elon Musk does, the only chart on here that people will care about going forward is the cost per mile.At... Read more.

Should 'reasonable care' in insurance policies include what you post on social media?

This topic crops up a lot at this time of year, and this article serves as a healthy reminder to us all about when going on holiday or generally just away from home.Whilst the article calls out common sense to apply to social media, it fails to... Read more

Transformational change imperative should attract more talent to Insurance.

Alice Leguay, co-founder and CMO at Emolument.com says "While finance remains in the lead when it comes to remuneration, young professionals are more and more reluctant to sign up just for the money” and this view echoes the results of our global... Read more.

Insurance roundup from recent earnings calls - change is coming.

There could not be a better way to say it. With so much hype, it's nice to hear directly from the CEO community on their view and, as put in simple terms by Evan Greenberg of Chubb, change is coming.Worth a read as always from Matt and the team... Read more.

And the $$$ keeps on flowing.

Great to see, further confidence and money flow into the sector with no real slow down here. Read more.