Types of insurance

Closing the Gap: Iowa Insurance Division's Survey Shows Gender Gaps in Financial Literacy, Particularly for Retirement Financial Decisions & Investing

Retrieved on: 
Monday, July 26, 2021
Finance, Types of insurance, Insurance, IOWA, Economy, ING Group, Companies, Financial literacy, Home insurance

Yet a recent "SmartHER Money Literacy Financial Research" survey commissioned by the Iowa Insurance Division (IID) and conducted by AMPERAGE Marketing & Fundraising (AMPERAGE) has revealed some eye-opening takeaways about how female Iowans view financial management, insurance, retirement planning and investments.

Key Points: 
  • Yet a recent "SmartHER Money Literacy Financial Research" survey commissioned by the Iowa Insurance Division (IID) and conducted by AMPERAGE Marketing & Fundraising (AMPERAGE) has revealed some eye-opening takeaways about how female Iowans view financial management, insurance, retirement planning and investments.
  • On the insurance side, they questioned how much coverage they need and also lack knowledge about insurance products beyond the typical car and homeowner's insurance.
  • To help close that gender gap in financial literacy and security, the Iowa Insurance Division created the new SmartHER Money program in early 2021.
  • The Iowa Insurance Division will launch its inaugural SmartHER Money Conference in Cedar Falls, Iowa, on Aug. 19, 2021.

Best’s Market Segment Report: AM Best Maintains Stable Outlook on Japan’s Non-Life Insurance Market

Retrieved on: 
Thursday, July 22, 2021
Banking, Professional services, Insurance, Finance, Types of insurance, Actuarial science, Insurance, General insurance, Vehicle insurance, Underwriting, Service industries, Liability insurance, Economy, Finance in Morocco, Insurance in Australia

AM Best is holding its stable market segment outlook on Japans non-life insurance industry, predominantly driven by carriers profitable underwriting performance amid the COVID-19 pandemic.

Key Points: 
  • AM Best is holding its stable market segment outlook on Japans non-life insurance industry, predominantly driven by carriers profitable underwriting performance amid the COVID-19 pandemic.
  • According to the new Bests Market Segment Report, titled, Market Segment Outlook: Japan Non-Life Insurance, premium rate adjustments, which are likely to improve the profitability of the fire insurance line; and solid risk-adjusted capitalisation to weather potential financial market volatility also are key supporting factors behind the stable outlook.
  • Furthermore, with increases in the premium rates for voluntary automobile insurance and fire insurance, most major domestic non-life insurers reported a material improvement in their combined ratios for private insurance.
  • Voluntary automobile insurance accounts for over half of Japans non-life insurance net premium written, excluding compulsory automobile liability insurance.

OCTO Telematics and Ford Team Up to Provide More Accurate Auto Insurance Risk Scores

Retrieved on: 
Thursday, July 22, 2021
Technology, General Automotive, Mobile, Wireless, Other Professional Services, Fleet management, Automotive Manufacturing, Insurance, Manufacturing, Automotive, Professional services, Other Technology, Internet, Other Automotive, Data management, Vehicle telematics, Technology, Types of insurance, Octo, Connected car, Vehicle insurance, Insurance, Science and technology, Telematics, Octo Telematics, OCTO Telematics, Ford Motor Company, OCTO TELEMATICS, FORD MOTOR COMPANY

By leveraging Fords connected vehicle data, OCTO will extend its market-leading predictive insurance risk score, OCTO DriveAbility Score.

Key Points: 
  • By leveraging Fords connected vehicle data, OCTO will extend its market-leading predictive insurance risk score, OCTO DriveAbility Score.
  • The integration provides a seamless experience for auto insurers and their policyholders with highly accurate pricing based upon driving data sourced directly from Ford vehicles fitted with embedded connectivity.
  • Were excited to be working with OCTO to help provide enhanced scoring capabilities for insurance carriers through Fords connected vehicle data said Kari Novatney, General Manager, Connectivity Strategy & Partnerships, Ford Motor Company.
  • OCTO offers insurers the ability to better manage risk based on actual driving behaviors and as a result, Ford customers can benefit from a personalized insurance rate, across a wider choice of insurance carriers.

New Report Reveals Rising Home Insurance Premiums Disproportionately Burden Seniors and Homeowners With Low Credit Scores

Retrieved on: 
Thursday, July 22, 2021
Types of insurance, Insurance, Home insurance

"Even without claims, a homeowner will likely experience a 3-4% increase in premiums each year.

Key Points: 
  • "Even without claims, a homeowner will likely experience a 3-4% increase in premiums each year.
  • Industry studies have shown 40% of homeowners have not reviewed their policy within the last two years.
  • "Matic has always been an unbiased platform and we believe insurance should be transparent for all homeowners," said Madick.
  • "We created RateReview , an insurance monitoring service, to help homeowners avoid overpayment and ensure they have the right policy."

Best’s Commentary: German Insurers Well-Positioned to Respond to Flooding Claims

Retrieved on: 
Wednesday, July 21, 2021
Insurance, Professional services, Insurance, Types of insurance, Actuarial science

German insurers' disciplined pricing means carriers should be well-positioned to absorb heightened weather-related losses, despite potential record natural catastrophe claims in 2021, according to a new AM Best commentary.

Key Points: 
  • German insurers' disciplined pricing means carriers should be well-positioned to absorb heightened weather-related losses, despite potential record natural catastrophe claims in 2021, according to a new AM Best commentary.
  • In its new Bests Commentary, German Insurers Well-Positioned to Respond to Flooding Claims, AM Best notes that the record weather-related losses in Germany in 2021 come after previous years of relatively benign claims experience.
  • At this stage, insurance loss estimates caused by Bernd will be driven by how much longer the severe weather conditions continue to cause damage.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

cycleGuard Research Finds 80% of UK Cycling Staycationers Are Riding Without Insurance

Retrieved on: 
Wednesday, July 21, 2021
Other Consumer, Insurance, Sports, Professional services, Transportation, Consumer, Vacation, Biking, Cycling, Travel, Types of insurance, Human activities, Human behavior, Service industries, Insurance, Health insurance, Cycling, Vehicle insurance, Staycation, the research, Thistle Insurance, THE RESEARCH, THISTLE INSURANCE

Thats according to research released today from cycleGuard , part of Thistle Insurance.

Key Points: 
  • Thats according to research released today from cycleGuard , part of Thistle Insurance.
  • The research found that almost half (49%) of those on staycation will not take out insurance.
  • According to the data, 25% of those planning on cycling will rely on health insurance with less than a fifth (18%) having bike insurance in place.
  • The Lake District is expected to see the most amount of cycling staycationers with 15% of holiday makers heading there.

With Mental Health Conditions on the Rise Among College Students, GradGuard Tuition Insurance Provides Viable Options for Families

Retrieved on: 
Wednesday, July 21, 2021
Payments, Money, Types of insurance, Economy, Tuition insurance, Insurance, Tuition payments, Fee, Trade, Higher education in the United States

"GradGuard's tuition insurance provides affordable coverage up to 100% of the cost of college," - John Fees, GradGuard

Key Points: 
  • "GradGuard's tuition insurance provides affordable coverage up to 100% of the cost of college," - John Fees, GradGuard
    "The growth of mental health conditions in college students is a real risk to the investment families are making in higher education," said John Fees, Co-founder, and Managing Director of GradGuard.
  • If they must withdraw under the recommendation of a licensed professional in their state, tuition insurance can cover their housing, their tuition, and student fees.
  • GradGuard's coverage of mental health comes as data confirms the spike of mental health cases on college and university campuses.
  • "GradGuard's tuition insurance provides affordable coverage up to 100% of the cost of college including student housing, tuition and academic charges" said Fees.

Travel Insurance Disruptor, battleface, Launches Discovery Product with Customized Products Allowing Customers to Purchase Only What They Need

Retrieved on: 
Wednesday, July 21, 2021
Insurance, Product, Travel insurance, Types of insurance

COLUMBUS, Ohio, July 21, 2021 /PRNewswire/ -- battleface Inc., the rapidly growing Insurtech known for designing innovative travel insurance products, has announced the launch of their latest product Discovery Travel Insurance.

Key Points: 
  • COLUMBUS, Ohio, July 21, 2021 /PRNewswire/ -- battleface Inc., the rapidly growing Insurtech known for designing innovative travel insurance products, has announced the launch of their latest product Discovery Travel Insurance.
  • The Discovery Travel Insurance launches just as a recent study commissioned by battleface and conducted by Opinium reports that a third of Americans (33%) don't consider purchasing travel insurance out of fear of spending money on the coverage they don't need.
  • The Discovery product addresses these concerns by allowing consumers to choose the benefits that meet their needs and only purchase what is necessary.
  • "A lot has changed over the last 10 years when it comes to travel, but not much with travel insurance options.

Curi Named to Ward's 50® List of Top-Performing Property & Casualty Insurance Companies

Retrieved on: 
Wednesday, July 21, 2021
Insurance, Types of insurance, Casualty insurance, General insurance

RALEIGH, N.C., July 21, 2021 /PRNewswire/ -- Curi , an advisory firm for physicians and medical practices, today announced that its insurance business has been named to the prestigious Ward's 50 list of top-performing property and casualty insurance companies for 2021.

Key Points: 
  • RALEIGH, N.C., July 21, 2021 /PRNewswire/ -- Curi , an advisory firm for physicians and medical practices, today announced that its insurance business has been named to the prestigious Ward's 50 list of top-performing property and casualty insurance companies for 2021.
  • Curi is the only company that specializes in physician professional liability to make the Ward's 50 list for the second year in a row.
  • The group analyzes the financial performance of nearly 2,900 property-casualty companies in the U.S. every year to identify top performers.
  • The 2021 list recognizes outstanding financial results in the areas of safety, consistency, and performance from 2016 to 2020.

Sapiens and Munich Re Partner to Help Insurers Target the Commercial Insurance Market

Retrieved on: 
Wednesday, July 21, 2021
Insurance, Munich Re, Types of insurance, Finance, Financial services, Companies

HOLON, Israel, July 21, 2021 /PRNewswire/ -- Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced a partnership with Munich Re, one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions, to offer technology-led consultancy and services to enable primary insurers to better serve the commercial insurance market (small and medium sized businesses) in the UK,  thereafter expanding to the Nordics and South Africa.

Key Points: 
  • The commercial insurance market is one of the fastest growing insurance sectors in the UK.
  • Yet, until now this market has been underserved, with very few insurance packages tailored to the unique needs and requirements of this segment.
  • Together, Sapiens and Munich Re will work with insurers to help them better target and address this market quickly.
  • Munich Re possesses outstanding innovative strength and is playing a key role in driving forward the digital transformation of the insurance industry.