edition
• Competitive intelligence key for pricing risks when entering new markets with limited data, experts say.
• Insurers should assess data limitations and select appropriate models, balancing simplicity and efficiency.
• There is an untapped potential in internal unstructured data, and insurers should consider collecting and maintaining them.
• Insurers are overlooking the impact of climate change on mental health and disability, with predictive analytics helping in identifying mental health risks and mitigating them.
• Houthi rebels’ attacks have expanded from the Red Sea to the Indian Ocean, prompting concerns about increased war risk premiums for marine insurance in the Asia-Pacific region.
• Insurers are closely monitoring the situation, with potential changes to cover terms and conditions, and possible cancellations of war risk cover if attacks continue.
• The escalation could impact global freight rates and trade, particularly affecting Asian exporters and importers due to supply chain delays and market volatility.
• Howden announce acquisition of Bridges Insurance Services in New Zealand.
• Bridges Insurance, established in 1990, serves 7,500 customers and focuses on mid-market and SME business,
• Acquisition is Howden’s latest in New Zealand, following those of Wallace McLean and Apex Group.
• The Insurance Council of New Zealand calls for proposed Fast-Track Approvals Bill to enhance resilience against natural hazards, citing past weather events.
• ICNZ stresses careful land-use planning to maintain insurance availability and avoid high-risk areas.
• Critics argue the bill threatens the environment and centralises decision-making power, leading to protests in Auckland.
