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Datos Insights Releases Guide to 300 Insurtech Startups 0

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Datos Insights Releases Guide to 300 Insurtech Startups

Insuretechs are embedding advanced analytics and GenAI in their solutions: Insuretech for Insurers 2024 Boston, MA (Oct. 16, 2024) – For insurers, understanding the space can be a daunting task, yet it can ultimately be broken down into vendors and potential competitors to insurers. Even in the case of those insuretechs positioned competitively against incumbents, insurers can still learn a substantial amount from startups in the space. AI is revolutionizing the insurance landscape, climate risk analytics gain prominence, and customer and agent experience remains a priority. This report provides an overview of recent business, technology, and funding trends in insuretech. It is designed to assist insurers with creating shortlists and getting a better understanding of opportunities for partnerships and investment in the insuretech space. The report provides a short overview of 300 insuretech companies, including lines of business, key functional areas of focus, and insurance customers and investors when possible. The vendor profiles are based on publicly available information, briefings, and vendor conversations. Clients of Datos Insights’ Life, Annuities, & Benefits and Property & Casualty services can download this report. Click here to access the report or download the table of contents. About Datos Insights Datos Insights delivers the most...

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People Moves: H.W. Kaufman Names Kaufman, Kaufman Davis Co-Presidents; Desett Joins HUB as N.A. Commercial Lines Pres.; Benson New Chubb Multinational Insurance Lead

Article 0 Comments H.W. Kaufman Group Names Kaufman and Kaufman Davis to Newly Established Co-President Role Danny Kaufman H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, named Danny Kaufman and Jodie Kaufman Davis as co-presidents. The newly created positions establish distinct leadership responsibilities across Kaufman’s broad global portfolio. Alan Jay Kaufman will continue serving as Kaufman’s Chairman and Chief Executive Officer. “Today, we are firmly and emphatically signaling to the marketplace, along with our clients, insurance company partners and 2,000+ associates, that Kaufman is committed to our independence under Danny and Jodie’s ongoing operational leadership,” said Alan J. Kaufman. “I am very proud of Danny and Jodie – the evolution of our company is a direct result of their strategic vision, their passion for this business and their shared desire to see Kaufman thrive under the next generation and beyond.” Jodie Kaufman Davis In addition to his current role as president of Burns & Wilcox in the U.S., Danny Kaufman is responsible for the Burns & Wilcox brokerage and Canadian divisions. The leadership for both divisions reports to him. Jodie Kaufman Davis will become vice chair of Atain Insurance Companies while retaining oversight of RB Jones. She will continue to...

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Morgan Stanley Says CEO Ted Pick to Succeed Gorman as Chairman

Pick took over from Gorman as CEO at the start of the year and is fresh off the bank’s best earnings-day performance after reporting results earlier this month that exceeded expectations. Under Pick, the stock has climbed 27.8% this year. (Credit: Bloomberg) Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Ducks Unlimited Canada highlights Nature-Based Disaster Risk Reduction Solutions 0

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Ducks Unlimited Canada highlights Nature-Based Disaster Risk Reduction Solutions

Oak Hammock Marsh, MB (Oct. 13, 2024) – October 13 marks the International Day of Disaster Risk Reduction (IDDRR), and Ducks Unlimited Canada (DUC) is using the day to highlight the essential role of Nature-Based Solutions (NbS) in protecting communities from the growing risks of climate-related disasters. This year’s IDDRR theme focuses on protecting and empowering youth through education to create a resilient future, an action DUC passionately supports through its education and Nature Force initiatives. With the increasing frequency of extreme weather events, from floods to wildfires, the need for proactive investment in climate change adaptation and mitigation is more critical than ever. Floods are the most commonly occurring and most costly natural hazard in Canada. In the summer of 2024, Canadians experienced a record-shattering $7 billion in insured losses from extreme weather events, as reported by the Insurance Bureau of Canada. “Wetlands offer sustainable, cost-effective defences against severe weather events. By investing in and conserving these ecosystems, we can help to safeguard communities and infrastructure and mitigate the costs and impacts of climate-related disasters.” says Michael Nadler, CEO of Ducks Unlimited Canada. “As we mark the International Day of Disaster Risk Reduction, it’s vital that we invest in...

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New Rules Proposed to Block China, Russia, Iran From Accessing Bulk US Data

Article 0 Comments The U.S. Justice Department on Monday proposed new rules to protect federal government data or Americans’ bulk personal data from getting into the hands of countries like China, Iran and Russia by placing new limits on certain business transactions. The proposal, which was previewed in March, implements an executive order issued earlier this year by President Joe Biden which aims to keep foreign adversaries from using accessible American financial and genomic data and health data for cyber attacks, espionage and blackmail. In addition to China, Russia and Iran, the rule would also apply to Venezuela, Cuba and North Korea. Washington has been trying to stem the flow of American personal data to China, part of a years-long struggle over trade and technology. In 2018, a U.S. panel that reviews foreign investments for potential national security threats rejected a plan by China’s Ant Financial to acquire U.S. money transfer company MoneyGram International, because of concerns over safety of data that can be used to identify U.S. citizens. The officials said transactions will be banned with data brokers who know the information will end up in “countries of concern,” as will the transfer of any data on U.S. government...

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Raymond James Tops Estimates, Adds 75 Reps in Latest Quarter

In the U.S., net new assets were $13.0 billion in the fiscal fourth quarter, representing an annualized growth rate of 4.0%.  Total domestic cash sweep and related balances were $57.9 billion, up 3% over the prior year’s fiscal fourth quarter. The unit’s net revenues grew 9% from a year ago to $2.48 billion in the latest quarter, but its pre-tax income of $461 million was down 3%. For the full fiscal year, private client net revenues were $9.46 billion, a jump of 9% over 2023 fiscal year, and pre-tax income was $1.79 billion, up 1%. “In the fiscal year, we generated domestic net new assets of $60.7 billion, a growth rate of 5.5%, as we remain focused on retaining, supporting and attracting high-quality financial advisors across our multiple affiliation options,” Reilly said. One day ahead of its earnings news, Raymond James said it added a team that includes five advisors, who previously managed roughly $1 billion with Merrill Lynch, to its employee channel in Williamsville, New York.

APRIL in Canada Announces Exclusive Agreement with Primaco to Simplify Premium Collection for Canadian Brokers 0

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APRIL in Canada Announces Exclusive Agreement with Primaco to Simplify Premium Collection for Canadian Brokers

Montreal, QC (Oct. 23, 2024) – APRIL in Canada, specialized wholesale brokers in property and casualty insurance, are pleased to announce a partnership with Primaco, an expert in insurance payment and financing solutions. This agreement aims to simplify premium collection for APRIL’s Canadian partner brokers. All APRIL in Canada’s offerings now incorporate Primaco’s solution, which streamlines payment and digitizes management processes. Partner brokers thus benefit from APRIL’s range of services with a simplified payment system and optimized management. As part of continuous improvement and accelerating brokers’ digitalization, APRIL and Primaco now provide a more effective solution for premium financing management, facilitating lead conversion. “Our teams work daily to offer the best in digital solutions and human relationships to our partner brokers and their clients. This long-term partnership with Primaco complements our digital offerings for our Canadian partners, supporting their growth,” said Marie-Eve Paquette, Managing Director of APRIL in Canada. “At Primaco, we are proud to collaborate with APRIL in Canada to provide Canadian brokers with an innovative and accessible payment solution. This partnership aligns with our mission to simplify payment and financing operations, allowing brokers to focus on what matters most: delivering quality service and a streamlined experience to their...

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What a Weak La Niña Could Mean for Winter Weather

Article 0 Comments The National Oceanic and Atmospheric Administration’s Climate Prediction Center says there is a 60% chance that a weak La Niña event will develop this autumn and could last until March. La Niña is part of a natural climate cycle that can cause extreme weather across the planet — and its effects vary from place to place. Although there is no guarantee how this La Niña will play out, there are some general trends. Experts say northern parts of South America could see more rain than usual. Southern regions of the U.S. and parts of Mexico could be drier than average. The northern tier of the U.S. and southern Canada could be wetter than average. La Niña is the cool phase of the El Niño-Southern Oscillation, a naturally occurring global climate pattern that involves changes in wind and ocean temperatures in the Pacific and can cause extreme weather across the planet. El Niño is the warm phase and happens when trade winds that typically blow across the Pacific toward Asia weaken, allowing warm ocean waters to pile up along the western edge of South America. But during La Nina, the trade winds intensify and cold water from the...

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MetLife Said to Be in Talks to Buy $100B of PineBridge Assets

PCG bought PineBridge from American International Group Inc. for $500 million in 2010 as the insurer was selling assets to repay a government bailout. PineBridge’s clients include pension plans, insurance companies, official institutions, private banks, advisers and intermediaries. A purchase of PineBridge’s non-China assets could boost MetLife’s roughly $175 billion of current client investment assets by more than 50%, Bloomberg Intelligence analyst Jeffrey Flynn wrote in a note on Monday. The deal value would align with MetLife’s focus on less capital-intensive areas to support its rising return on equity, Flynn said. MetLife shares were down 0.1% to $84.75 at 4:45 p.m. Tuesday in New York. They have climbed roughly 26% this year, giving the company a market value of about $59 billion. (Credit: Bloomberg) Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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SEC to Increase Scrutiny of AI Tools Used by Financial Brokers, Advisers

Article 0 Comments The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment advisers, brokers, clearing agencies and others can expect the SEC to focus on their statements about AI tools to ensure they comply with agency rules, according to a Division of Examinations report published Monday. The regulator will also look into how firms supervise the use of the technologies for tasks tied to trading, fraud prevention and anti-money-laundering policies. Although the agency put AI risks on its examination watch list last year, it went into further detail in the latest report. The sharper focus follows warnings from a number of financial regulators, including the Federal Reserve and Consumer Financial Protection Bureau, that the new tools present serious risks as well as opportunities. They have sounded alarms about everything from discrimination to potential systemic risk. The SEC has clamped down on so-called AI washing, or misrepresenting how companies use machine learning and other tools. Chair Gary Gensler has repeatedly warned against overblown claims about AI. In March, the regulator fined two money managers for making allegedly bogus...