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Insurance

OCTO Telematics joins the exquisite IIF 2017 team of speakers which will analyze the motor insurance trends

Telematics are definitely improving the motor insurance bottom line, both through the self-selection effects on customer acquisition and material savings related to claims settlement. In addition, it provides the benefit of introducing value-added services around the driver journey, establishing a new type of relation between insurers and their customers, with positive effects on customers' loyalty. More
(19.01.2017)

STATISTICS: ROMANIA, 3Q2016: Double digit GWP growth supported by the raising MTPL tariffs

The Romanian insurance market ended the first three quarters of 2016 with GWP amounting to EUR 1.53 billion, 10.6% up y-o-y, supported by the significant increase in the MTPL prices recorded in the first part of the year. More
(19.01.2017)

Italy hit again by earthquakes; 30 possible victims in a hotel buried by an quake-triggered avalanche

Four earthquakes of over 5 degrees Richer magnitude hit Central Italy in less than four hours Wednesday morning, followed by tens of aftershocks, once again affecting the same mountainous region deadly struck by tremors in August and October 2016. The earthquakes were string enough to be felt in Rome, as well as in the regions of Toscana, Campania and Emilia. More
(19.01.2017)

Aon Benfield: Earthquake and severe weather — combined for 70% of all economic losses in 2016

Aon Benfield's catastrophe model development team has launched its 2016 Annual Global Climate and Catastrophe Report, which evaluates the impact of the natural disaster events that occurred worldwide during the last 12 months to promote awareness and enhance resilience. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc. More
(19.01.2017)

DONNET, GENERALI: 2017 it's not going to be easy, but may be better than 2016

"2017 will look very close to 2016. For basic reasons, we are still going to face a low interest rate environment and the regulation is going to be tough again," Italian GENERALI's CEO, Philippe DONNET, has stated in a recent interview with CNBC on the occasion of the World Economic Forum 2017. More
(19.01.2017)

STATISTICS: Czech Rep., 3Q2016: The decreases in life insurance pushed down the aggregate figure

At the end the third quarter of 2016, the Czech Rep. insurance market totaled CZK 111.6 billion (EUR 4.1 billion), 3.7% less y-o-y, according to the market statistics published on the Czech National Bank website. If the life insurance segment reported an 8% y-o-y decrease (to EUR 1.6 billion), the non-life insurance maintained at about the 3Q2015 level: GWP of EUR 2.5 billion. More
(19.01.2017)

Romanian MTPL subsegment supported the EIG's business positive trend

Bulgarian-based EUROINS Insurance Group (EIG) reported preliminary GWP of EUR 268 million during 2016, 16% more y-o-y, according to a press release published by its owner, the financial holding EUROHOLD.
More
(19.01.2017)

Croatia: MTPL market's liberalization has brought a larger product diversification, believes the Competition Agency

Croatian passenger cars owners have benefitted from the MTPL market liberalization, as well as from the products diversification, has found a recent survey performed by the local Competition Agency. According to the survey's conclusions, the market is "competitive and well structured" and consumers currently have a better choice than in the past years. More
(19.01.2017)

EULER HERMES appoints Kamelia POPOVA as Country Manager for Bulgaria

​The German trade credit insurer EULER HERMES announced it has appointed Kamelia POPOVA as Country Manager for Bulgaria, reporting to Ed GOOS, EULER HERMES CEO of Central & Eastern European Countries. More
(19.01.2017)

BIBA pleads for a sectoral Brexit solution and no further increases of the Insurance Premium Tax and supervision costs

The British Insurance Brokers' Association (BIBA) has called for the government to commit to no further increases to Insurance Premium Tax (IPT) and to negotiate for single market access in the EU exit. BIBA has also called for the Financial Conduct Authority (FCA) to prioritise cost-effective supervision following a 70% increase in regulation costs for small insurance brokers, reads the latest association's press release. More
(18.01.2017)

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INTERVIEW
Michael J. MORRISSEY
President and CEO
IIS - International Insurance Society


Young buyers don't care if the insurance company has been in business for a hundred years. They don't care if the company has a multibillion dollar balance sheet or not. They are spoiled by an entirely different level of customer experience. People who buy products from Apple or people who go to Starbucks have a different expectation of what they get for the money they spend. They want something different, they want something better. And it's hard for legacy companies to adjust. It's hard from the change of computer systems, it's hard from the change of their attitudes ... but however, traditional carriers will have to adjust in the future so it is tough for legacy companies. (2016-12-20) More

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