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Insurance News

In the wrong direction? Rise of the uninsured

In the U.S. the proportion of the population who are uninsured is growing. At the end of 2016 the rate was 10.9 percent; by the end of 2017 this was up to 12.2 percent. New research reveals the state-by-state patterns.

India launches 'Modicare', world's biggest health scheme

New Delhi - Prime Minister Narendra Modi on Sunday launched the world's biggest health insurance scheme, promising free coverage for half a billion of India's poorest citizens ahead of national elections next year.The bottom 40 percent of India's 1.

Insurer John Hancock adds fitness trackers to its policies

John Hancock, which is a major provider of life insurance in the U.S., has added the requirement that those taking out interactive insurance must wear fitness tracking to all policies.

Digital transformation trends in insurance

Insurance companies continue to struggle when it comes to customer experience, with users complaining of poor service when making claims or because of undue waiting times. Insurance companies are redressing this with new technology.

Bolivia eyes universal health care for next year

La Paz - Bolivia will launch a universal health care program next year, socialist President Evo Morales said Wednesday.

Digital transformation of finance: Mix of leaders and laggards

Finance services are showing an uneven path for digital transformation, with some identified leaders and a host of laggards. This insight comes from Forrester Consulting on behalf of consulting firm Ernst and Young LLP.

Are you happy with digital spying for reduced insurance prices?

It's a simple question: would you be willing to have technology that collects data about you and what you do in return for lower insurance rates? The younger you are the more likely, it seems, you are to say "yes".

Three startups disrupting the insurance industry

The insurance industry may not be entirely prepared for digital transformation, but insurtech is coming. Here are a few of the startups disrupting the insurance industry.

Latest trends in digital insurance

A new deep dive into the technological changes impacting on the insurance sector now and in the future has been released. The report focuses on the value of data analytics and improved means for data sharing.

Five emerging InsurTechs to take notice of

London - Insurance companies have been slow to embrace digital technology; however, signs are emerging that the industry is gradually opening up to the idea of alternative ways of providing insurance services. We look at five startups.

Platform to link insurance brokers to InsurTech partners

London - A new service, dubbed a ‘dating app’ for the insurance world, has been set-up to allow insurance brokers to connect with the relevant InsurTech partners. The service comes from Covéa and Broker Direct.

Chinese insurer Anbang's ex-boss jailed 18 years for fraud

Shanghai - A Chinese court jailed the former high-flying head of troubled Anbang Insurance Group for 18 years on Thursday for defrauding the company of more than $10 billion.

Chinese insurer Anbang's ex-boss jailed 18 years for fraud

Shanghai - A Chinese court sentenced the former head of troubled Anbang Insurance Group to 18 years in prison on Thursday for fraud and corruption, Xinhua news agency said, following accusations of stealing more than $10 billion.

China's former insurance regulator charged with bribery

Bejing - The former head of China's insurance regulatory body has been formally charged with bribery and abuse of power, prosecutors said on Monday, becoming the most senior financial regulator to be targeted in a continuing crackdown on corruption.

Insurance techology sees record investment

A new report looks at data-driven global insurance technology trends and charts record investment from both financial investors and reinsurers in these emerging technologies.

What changes can an Amazon-backed healthcare company make? Special

Amazon made waves when it announced that it was planning to disrupt American healthcare the same way it’s disrupted so many other industries. But what changes can an Amazon-backed healthcare company actually make?

Amazon and Co. set to disrupt U.S. healthcare

Healthcare insurance in the U.S. is set to undergo a significant reduction with news that major companies Amazon, Warren Buffett’s Berkshire Hathaway and JP Morgan are to come together to launch a type of health insurance plan.

Digital transformation of insurance to lower fraud risk

The digital transformation is driven by new competitive threats and a desire to prevent false claims, according to a new report. With the latter, the process of behavioral biometrics can assist with fraud prevention and a better customer experience.

China leading on risk management insurtech

China is becoming a global standard-bearer in the digitalization of many aspects of life, including fintech and insurance companies. One area where Chinese firms are leading the way is risk analysis.

Disaster mayhem doubled in 2017: Munich Re

Frankfurt Am Main - Financial pain inflicted by natural disasters worldwide almost doubled in 2017, German reinsurance giant Munich Re said Thursday, with a new record in losses from weather-related catastrophes.

Genetic testing affected by what insurance companies get to see

Boston - New research reveals U.S. state-level disclosure laws affect patients' eagerness to have their DNA tested, with wide variations across states. This also affects what level of data insurance companies can access.

Errors found with U.S. health data impact on insurance

Atlanta - Major measurement issues have been found in emergency department patient experience data, according to new research. The errors impact hospital performance measures and insurance.

Amazon considers entering insurtech market

Amazon may enter the insurance market through a new channel. The e-commerce giant already offers some insurance-related digital services.

Global disaster costs soar in 2017: Swiss Re

Zurich - Total economic losses from natural and man-made disasters have soared by 63 percent to strike an estimated $306 billion in 2017, reinsurance firm Swiss Re said Wednesday.

Demand for digital insurance drives industry transformation

Growing numbers of SMEs are turning to online insurers to protect their business. According to a new report from PwC, 36% of small business owners will interact with their insurers online in the near term. By 2022, the figure will reach 48% of all SMEs.

Drones can transform the insurance sector

Unmanned aerial vehicles can help the insurance sector deliver faster services. Drones are being tested to carry out inspections of houses prior to claims being paid out.

Rapid growth forecast for insurtech in 2018

London - If there’s a technology sector to get into then this appears to be insurtech. Insurtech jobs are increasing 22 times faster than the rest of the U.K. market, as an example of rapid developments in the sector.

How the Internet of Things is disrupting insurance

New technologies are influencing the shape of the insurance sector. This ranges from smart burglar alarms to big data analytics to offer ‘micro-insurance’ solutions. Another area is with connected devices.

Insurance companies offering smart insurance solutions

Insurance companies are starting to offer ‘smart’ devices to consumers where the data can be used to lower insurance premiums. Such devices can be used in homes and in motor vehicles.

Digital transformation of insurance enables ‘micro-insurance’

One of the effects of the digital transformation of the insurance sector is the ability of insurance companies to offer ‘micro insurance’. This is an insurance policy taken out for a short duration – only when it is needed.
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