Brokers - we still need them

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We are always on the lookout for risks that are uninsured or considered “uninsurable”. Better still, we love the companies that can change that. Costero Brokers are on the podcast this week talking about solutions they’ve found for their clients. Meanwhile, the news of 18,000 cows killed in a barn fire in Texas is a reminder that losses still come in unexpected ways and places.

PODCAST: Filling the gap - solutions for complex risk - Podcast 239

This week, Managing Director Jamie Webb and Divisional Director James Gadbury of Costero Brokers join Matthew Grant to talk about their experience, why brokers play a key role in solutions for risks that are unusual, and often hard to place, with examples from Aurora, ChAI, Thimble, Coincover and others.

EVENING EVENT: How to optimise your Underwriting Portfolio, CodeNode, 25 April, 4.30pm BST

Another chance to hear from the brokers. Aon has launched its Strategy and Technology Group and that sets the theme for our next live event. Join us to find out the tools and techniques to enhance underwriting performance and help close the insurance protection gap. Speakers include Chaucer Group, AEGIS London, Parsyl, PartnerRe and the Corporation of Lloyd’s.

REPORT: Corporate earthquake risk: the potential for building-specific risk transfer

As more corporates choose parametric earthquake insurance to cover their exposure, InsTech’s new report, released in partnership with Safehub, looks at how parametric earthquake insurance works and how sensor technology can provide a building-specific trigger for parametric policies.

VIDEO: Podcast 238 - Chaucer Group: Innovation success - go narrow, go deep

We now have video podcasts to complement our audio podcast. Watch the video highlights of Hayley Maynard, Head of Innovation, and Duncan Gemmel, Chief Strategy Officer, discussing how innovation works hand in hand with commercial objectives at Chaucer.

INSIGHT: Marine insurance - successfully navigating innovation waters

What odds would you have got a decade ago for a bet that, in 2023, marine insurance would be the most innovative of all the speciality classes? At InsTech, we like to shine a spotlight on companies that are making the insurance world more innovative. Our latest article profiles some of our members' most recent developments, from establishing new Lloyd's of London consortiums to claims automation to ESG reporting and much more.

Blink Parametric expands into the US

Blink Parametric has announced an expansion of its partnership with AwayCare, an MGA providing travel insurance products. AwayCare’s Flight Delay service, managed by Blink Parametric, will be available within select plans in the US.

Lloyd’s investment platform launches Private Impact Fund

We first heard about this from Dawn Miller, Commercial Director at Lloyd’s, on Podcast 226 in January. Lloyd’s of London has launched its Private Impact Fund on its market investment platform and appointed Schroders Capital as its Portfolio Manager.

AXA Climate launches new functionality on Altitude platform

More platform news as AXA Climate has launched a new functionality on its Altitude platform, aimed at providing private equity investors with a comprehensive assessment of climate, carbon and nature-related risks.

Verisk releases new rating engine for commercial lines

Data analytics and technology provider Verisk has unveiled a new rating engine that is intended to enable insurers to improve the complex process of developing new commercial lines products.

What is the real number of “affected people?” – A vague measure

Reask’s latest article discusses how the lack of a standardised measure of reporting - from football to storm losses - causes a lack of coherence and clarity, leading to confusion and misinterpretation of what really happened.

CoreLogic’s report reveals hail is now a major driver of loss

The recent report explores the occurrence of “severe convective storms”. These include straight-line winds, tornadoes, hail and severe thunderstorms. Download the report to discover the shift in trends and losses in recent years.

Marketplaces and the Dawn of Data First

In his latest article, Robin provides his thoughts on the way marketplaces and exchanges for the specialty market are going to evolve in light of recent announcements by Marsh and Howden.

omni:us is joint winner of the Zurich Innovation Championship Switzerland

omni:us, which provides AI-powered, end-to-end insurance claims automation solutions, is one of the two Swiss winners of the local Zurich Innovation Championship for its Digital Claims Adjuster platform.

Fathom - “flood risks can still be considerably reduced if all global promises to cut carbon emissions are kept”

Water risk modelling company Fathom has predicted the UK could see its annual damage caused by floods increase by more than a fifth over the next century unless all international pledges to reduce carbon emissions are met.

Fadata introduces new ecosystem for its insurance platform

Software solutions company Fadata is now offering a pre-approved partner solution to support and scale its insurance platform solution, enabling insurance businesses to scale flexibly with less cost and less effort.

WNS and RightIndem join forces on Motor Claims STP

WNS Holdings, the claims management solution provider, has teamed up with RightIndem to deploy a Motor Claims Straight-Through-Processing (STP) solution to be deployed into the general motor and fleet insurance market across the UK, North America, and Asia Pacific.

Oasis Loss Modelling Framework (LMF) and Lloyd’s Market Association (LMA) - London event

On 3-4 May, Oasis LMF and LMA are hosting an event in London to discuss catastrophe modelling, climate change and open data standards. There will be speakers from a range of InsTech members including Fathom, JBA Risk Management, Aon, CoreLogic, Chaucer Group and reThought Insurance.