Latest News

Monday, 27 January 2020

Last week US ICMIF member EMC Insurance Companies, a national property and casualty insurer, and FRISS, a leading provider of insurance fraud detection solutions worldwide, announced a partnership.

“We’re thrilled to be working together with EMC to reduce insurance fraud and further increase profitability,” said Jeroen Morrenhof, FRISS CEO and Co-founder. “We believe insurance is a beautiful thing, and we hate to see honest customers suffer because of the dishonesty of others. We’ve been fighting and reversing this trend for over a decade.”

EMC will take advantage of FRISS’ hybrid detection engine to automatically flag...

Friday, 24 January 2020

This week Dutch ICMIF member Achmea announced that it is in the top three of the most socially engaged Dutch insurers according to the Fair Insurance Guide (De Eerlijke Verzekeringswijzer). The announcement was made on Thursday 23 January 2020 following the Fair Insurance Guide’s annual survey of the investment policies of the nine largest insurance groups in the Netherlands. Achmea scored particularly well on health, employment rights, nature and arms and overall was ranked third. Achmea’s climate change score has risen from 4 to 6.

Along with a number of other financial institutions, Achmea made a commitment to the Dutch Climate...

Friday, 24 January 2020

The Swiss insurance company and ICMIF member la Mobilière is setting up an insurtech company headquartered in Dublin. This move is intended to expand its presence into digital add-on insurance across EU markets. That will enable the cooperative la Mobilière to test out a new business model ahead of time, with a view to sustaining its development and positioning itself for long-term business success.

The ongoing digital transformation we are seeing today is having an enduring impact on consumer behaviour, including in insurance. In today’s world, la Mobilière says, people need to be able to arrange cover simply, rapidly and for...

Monday, 20 January 2020

UK-based ICMIF member Ecclesiastical has set itself a target of donating £100 million to good causes and the organisation says it is on track to hit this target by the end of 2020. In August 2019, the firm revealed that it had already donated £75 million of its £100 million target to good causes since 2016 and that it believed the £100 million figure was achievable by the end of 2020. 

This month, Ecclesiastical has donated almost £5,000 to local good causes recently as it continues with its mission of creating a Movement for Good. The funds raised at the insurer’s annual charity carol concert held at Gloucester Cathedral in...

Friday, 17 January 2020

According to a new Best’s Special Report from ICMIF Supporting Member AM Best titled, Latin America: Economic and Political Risks May Subside in 2020, the rating agency expects Latin America’s economies to rebound somewhat in 2020, which would help the insurance markets in these countries better realise their growth potential. In the new report, AM Best notes that countries in Latin America are coming off of two years of low growth and headwinds due to a number of factors. These factors included the end of the commodity price super-cycle, political instability and the resulting policy uncertainty, lower global and regional growth and...

Thursday, 16 January 2020

The Taal volcano is one of the Philippines' most active volcano and recently, it has been spewing lava, triggering earthquakes and sending out large quantities of ash that have spread across the island of Luzon and beyond. Fears remain that a bigger and hazardous eruption could be imminent.

The CARD Mutually Reinforcing Institutions or CARD MRI is a group of mutually reinforcing institutions with a common goal of eradicating poverty in the Philippines and upholding the lives of Filipinos. One of these institutions is ICMIF member organisation the Center for Agriculture and Rural Development Mutual Benefit Association Inc. (CARD...

Wednesday, 15 January 2020

UK ICMIF member Royal London says the new commitment to the Principles for Responsible Investment (PRI) is part of the mutual provider’s responsible investment commitment as an asset owner to generate good returns while also making a positive contribution to society and the environment.

The six Principles for Responsible Investment are a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating environmental, social and governance (ESG) issues into investment practice for asset managers and asset owners. The Principles were developed by investors, for investors....

Monday, 13 January 2020

In December last year, New Zealand ICMIF member MAS announced that for the fourth year in a row, the organisation had won the Consumer NZ People’s Choice Award for four insurance categories – house, contents, car and life insurance.

MAS won the People’s Choice Award in these four categories in 2016, 2017 and 2018. In 2019, MAS was the sole winner for the life insurance category, and joint winner of the house, contents and car categories alongside another ICMIF member FMG and AA Insurance.

MAS Chief Executive Martin Stokes (pictured) says the People’s Choice Award reflects the effort everyone at MAS puts into providing...

Friday, 10 January 2020

In December last year, the latest annual cycle of Continuous Training for Insurance Brokers working for Argentinian ICMIF member San Cristóbal Seguros came to an end. This training programme has taken place every year for the last 21 years. A training and loyalty day for the company’s brokers (known in Spanish as “Productores Asesores de Seguros” or PAS) was held in each of the nine cities where San Cristóbal Seguros has branches (with a total of 1,000 brokers). The focus this year was on digital transformation, a trend that ICMIF is seeing across its membership.

The topics addressed over the course of the 2019 broker training...

Thursday, 02 January 2020

According to the latest 1st View renewals report from ICMIF Supporting Member Willis Re, reinsurers have been judicious during the 1.1 renewal period, leading to significant pricing and capacity variance depending on geography, product line, loss record, and individual client relationships. As a result, the report concludes, the renewal season has concluded later than in previous years.

Findings in the report state that, in general, US placements were more challenging than international renewals, with UK motor and some international liability accounts being the exceptions to the rule, while property catastrophe (cat) proved less...

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