In early July this year, La Capitale and SSQ Insurance announced that their merger of equals was official, creating the largest mutual insurance company in Canada with over 3.5 million members and clients. The merger of La Capitale and SSQ Insurance was originally announced in January of this year and after completing a number of regulatory steps, […]
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During the uncertainty of the evolving COVID-19 situation, ICMIF member Thrivent (USA) has remained committed to serving its members and clients; protecting the health and safety of its workforce; and empowering its members to support their communities during this unprecedented time. As of the end of May, more than 46,000 Thrivent members, along with their […]
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Direct premiums written in the US cyber insurance market grew by 11% year over year in 2019 to USD 2.25 billion; however, according to a new report from ICMIF Supporting Member AM Best, the rate of growth slowed from the previous year, marking the fourth year in a row of this trend. In the recent […]
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Following the COVID-19-induced slowdown in global InsurTech investment during the first months of 2020, USD 1.56 billion was raised by InsurTech firms in Q2. The total, up 71% over Q1, was driven in part by later-stage investments, including four ‘mega-rounds’ in excess of USD 100 million, according to the new Quarterly InsurTech Briefing from Willis Towers Watson. […]
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Peak Reinsurance Company Limited (“Peak Re”), a Hong Kong-based global reinsurer and one of ICMIF’s Supporting Members, today announced that it has won the “Asian Reinsurer of the Year” award at the Asian Banking and Finance Insurance Asia Awards 2020. The award honours Peak Re’s unique approach of contributing to the sustainable development of the […]
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ICMIF member CoopSeguros (Dominican Republic) has this week signed an agreement to collaborate with the National Confederation of Agricultural Producers (Confederación Nacional de Productores Agropecuarios, Confenagro) which aims to provide insurance products that will directly benefit those working in the agriculture sector – both producers and workers. The agreement between the cooperative insurer and the […]
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German ICMIF member DEVK successfully implemented FRISS Fraud Detection at Claims earlier this year in order to have a future-proof, AI-powered SaaS solution to fight insurance fraud and serve honest customers in the best possible way. At the time of the implementation (May 2020), more than 400 claims people at DEVK were screening about 160.000 […]
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Just over 530,000 households from low-income communities are now covered with mutual microinsurance thanks to ICMIF’s 5-5-5 DHAN Foundation (DHAN) project in India. This equates to 2.65 million people being protected when averaging five people per household. This milestone has been achieved amid the COVID-19 pandemic with DHAN battling to help mitigate the negative impacts […]
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One year after launching its Express Service for compulsory insurance policyholders, Cooperativa de Seguros Múltiples de Puerto Rico is now extending the Service to its 460,000 motor policyholders who currently have traditional policies. “We continue to be the only insurance company that arrives at the scene of the accident to start the processing of the […]
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Argentinian ICMIF member San Cristóbal Seguros has launched a new type of insurance cover for tenants and property owners. The new Guaranteed Rental product offers guaranteed rental income for landlords and property owners on behalf of the people who want to rent a property but who do not have the guarantees normally required by real […]
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