Latest News

Monday, 16 December 2019

Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has been approved as a member of the International Cooperative and Mutual Insurance Federation (‘ICMIF’), the global representative body of the cooperative and mutual insurance sector.

Aviva Investors will become a ‘Supporting Member’, joining a group of five other companies from around the world. Supporting Members are suppliers considered important to the member-owned insurance sector. They work in partnership with the Federation and its members in helping to grow and advance the mutual and cooperative insurance sector.

Euan Munro (pictured),...

Thursday, 12 December 2019

ICMIF member EMC Insurance Companies (USA) received the Insurtech Corporate Innovation Award from Plug and Play at its Winter Summit in Silicon Valley last week. Plug and Play is a global innovation platform that connects start-ups and corporations.

“We are honoured by this award as it speaks volumes about the culture of innovation we’ve established at EMC,” said Scott Jean, EMC Executive Vice President — Finance & Strategy. “We’re doing industry-leading work and engaging our entire organization in the journey.”

EMC launched 17 pilots or proofs of concepts in 2019. Of those, several progressed to commercial agreements....

Wednesday, 11 December 2019

ICMIF member and Singapore-based insurer NTUC Income (Income) has become the latest cooperative/mutual insurer to offer a “Pay-as-you-drive” motor insurance policy. The insurance product has been launched in partnership with Carro, the largest automotive marketplace in Singapore.

The new insurance product is based on a “pay as you drive” model and users will pay according to how much they drive the car. The less people drive, the less they pay and vice versa. Carro car subscription customers will benefit from insurance savings via subscription credits based on how much they drive. Rebates for un-driven distance will be used to...

Tuesday, 10 December 2019

ICMIF Supporting Member AM Best has maintained a market segment outlook of stable on the global reinsurance industry for 2020, citing a stabilized pricing environment - albeit at levels below long-term adequacy - the continuing alignment between traditional and third-party capital and ongoing stability in the global life reinsurance segment.   The new Best’s Market Segment Report, titled, “Market Segment Outlook: Global Reinsurance,” states that although rates in the non-life reinsurance market have improved modestly, pricing has not kept adequate pace with the changing risk dynamics, as illustrated by loss development from events...

Friday, 06 December 2019

The 7th edition of the Sustainable Leadership Awards organised by the Argentine-British Chamber of Commerce (Cámara de Comercio Argentino – Británica, CCAB) took place on 28 November 2019 at the Buenos Aires Stock Exchange (Argentina). Betina Azugna, Corporate Social Responsibility Manager at the Sancor Seguros Group (one of ICMIF’s members), received the first prize awarded by the Chamber of Commerce for the 2017/2018 Sancor Seguros Sustainability Report, within the category “Innovative Organization”.

The evaluation criteria for the selection of the winning Report were: strategic vision of the highest level; use of globally...

Friday, 06 December 2019

Now in their 22nd year, the Personal Finance Awards have enjoyed recognition for many as being a benchmark for excellence in the UK’s consumer finance market. The 2019 Personal Finance Awards took place at the in London last week, on Wednesday 27 November. Voted for by consumers via The Money Pages website, the organisers say the awards celebrate the best of the UK’s personal finance businesses and products.


Three ICMIF members were winners in the awards last week, they are NFU Mutual, Royal London and Simplyhealth.

NFU Mutual won the Best Insurance Provider – Customer Service award and was also highly...

Wednesday, 04 December 2019

According to a press release issued this week by ICMIF member The Co-operators, Canadians can now apply for funding to support local Wildfire Community Preparedness Day activities, and join municipalities from coast to coast in a national effort to reduce wildfire risk to local communities.

Wildfire Community Preparedness Day is an annual, national programme, launched by FireSmart Canada in collaboration with The Co-operators, the National Fire Protection Association (NFPA) and the Institute for Catastrophic Loss Reduction (ICLR). Individuals, fire departments, organizations, community groups and municipalities have been invited...

Tuesday, 03 December 2019

Dutch ICMIF member Achmea is this week partnering with Amsterdam Drone Week (4 - 6 December 2019, Amsterdam).

In their article about Achmea’s participation in the event, Amsterdam Drone Week commented that this may be seen as a striking partnership, because insurance may not be the first thing people think of when it comes to drones. Yet it is not that strange, says Michiel Delfos, Director of Achmea’s Division General Insurance. “Achmea wants to make the Netherlands a bit safer and more climate-proof. And then it is good to be at the forefront of new technology.” Michiel Delfos went on to say: "That's right, drone technology is...

Monday, 02 December 2019

The latest sigma report from the Swiss Re Institute (SRI), the research arm of ICMIF Supporting Member Swiss Re, suggests that technology advances are enabling non-life (P&C) insurers to unlock new frontiers in risk assessment and mitigation thanks to advanced analytics.

Past successes that focused on improving expense ratios have catalysed new investment with pilots by insurers showing meaningful improvement in loss ratios, as insurers gain better visibility into underlying loss drivers. True potential will only be realised through co-ordinated efforts between developers and users, although expectation of success in all...

Friday, 29 November 2019

Breach Fulfillment Services, Incident Response Forensics and new leadership create more comprehensive solution

ICMIF Supporting Member CyberScout, a global leader in identity theft resolution, data defence and employee benefits services, has this week announced the expansion of their Global Incident Response offering, which now includes Breach Fulfillment Services and Incident Response Forensics that will help global cyber insurance partners and their policyholders more efficiently recover from a security incident. In addition, Nate Spurrier has been appointed as Senior Director of Business Development, Global Incident Response for...