Live Insurance News

Smart Technology and the Home of the Future

November 29, 2019November 28, 2019 Guest Author

The use of smart technology has already been a jump forward in domestic technology. Look back 100 years and there was very little technology in the home, whereas now the average home has technology products which allow them to communicate with people across the world, wash dishes and clothes not by hand, heat up food within minutes, watch video streams and content from millions of sources, and listen to digital music which isn’t owned. However, while these technologies are commonplace, smart technology isn’t yet being adopted by the masses, like…

British Home Ownership Trends that May Continue Post Brexit

November 27, 2019 Guest Author

Brexit is bringing a lot of uncertainty over the financial sector, and is preventing many people from making the changes they would usually make in like such as investments, house moving, stating up businesses, starting families, changing jobs and many other usual activities. Home Ownership has been on a downward trend for some time, and other housing trends have been affected by the past ten years of turbulent politics and financial system. Insurer Deacon, a specialist in blocks of flats insurance recently produced a article on the fascinating facts about…

Allianz SE joins forces with Microsoft for a strategic insurance partnership

November 20, 2019November 20, 2019 Logan B.

Strategic insurance partnership - Microsoft building

The two giants will be working together to transform the way digital processes are conducted. Allianz SE and Microsoft Corp have jointly announced that they’ve entered into a strategic insurance partnership. The goal is to digitally transform the insurance industry for greater ease and improved customer experience. Many consumers feel their insurers have fallen behind the times in terms of digital experience. The companies are hoping to use this strategic insurance partnership to change the entire customer experience from what it is today into something much improved. The idea is…

Tencent takes more of Indian insurance market with 10% Policybazaar stake purchase

November 12, 2019November 10, 2019 H. Cutner

The Chinese tech giant has acquired a minority state in the home, auto and life comparison company. Tencent Holding Ltd. has just taken more of its first steps into the Indian insurance market with an acquisition of a 10 percent stake of Indian online insurance aggregator Policybazaar. This values the Indian company at $1.5 billion. The Chinese technology giant has been working to grab a piece of India’s growing insurance sector. The 10 percent Policybazaar stake was obtained through a purchase of half of Tiger Global Management LLC’s stake in…

Ping An Insurance moves to recreate itself as a technology firm

October 29, 2019October 25, 2019 H. Cutner

The company is aiming to spend $22 billion to dump its old-school image and reputation. Ping An Insurance is changing lanes in the hopes of transforming itself into a technology company. The firm has come up with a plan to spend billions in order to recreate itself in this new way. That said, the Ping An Insurance executives have not yet managed to sway investors to see their way in spending $22 billion for this purpose. The money would be spent on everything from artificial intelligence (A.I.) to blockchain. The…

Allianz CEO says no US insurance market expansion on the way

October 8, 2019October 5, 2019 Logan B.

Chief executive officer Oliver Bäte denied the rumors of a move to the United States in a recent interview. Rumors Allianz taking its first steps into the US insurance market have been officially denied. The insurance giant’s chief executive officer, Oliver Bäte spoke in an interview with the Financial Times and explained that the company had no intentions to head to the United States. Bäte explained that the American market is too different in its valuations, reducing its appeal for the firm. “Buying something in the US for us is…

Lloyd’s of London insurance market will write online for the first time in 2020

October 2, 2019September 30, 2019 G. Turner

The industry’s largest market will finally begin writing electronic business next year. Lloyd’s of London, the largest insurance market in the world, has finally announced that it will be taking its first steps into writing online. It will write its first business electronically beginning in 2020. The first online-only policy writing will begin operations as of January 1, 2020. The largest reinsurer in the world, Munich Re, will start writing policies by way of an online-only syndicate at the beginning of next year. This, according to statements issued by both…