The New Zealand Government introduced its Climate Change Response (Zero Carbon) Amendment Bill to parliament on 7 May, which will see climate change adaptation actions being implemented, and the Insurance Council of New Zealand (ICNZ) has expressed its support for the new bill.
The banking world is ahead of the game in Canada, with modern identity verification created with blockchain technology now available to customers of five Canadian banks, and soon to come to a further two.
Hartford InsurTech Hub is celebrating success, as three of the 10 startups graduating from its three-month accelerator programme, which began in February, have secured pilots with some of the hub’s core partners at its Demo Day.
Global professional services firm Aon PLC (Aon) has launched the latest edition of its Aon’s Reinsurance Aggregate (ARA) Report, a study that analyses the 2018 financial results of 23 major reinsurers. The report cites steady operations for reinsurers, despite two years of natural catastrophe losses.
By partnering with Montreal-based artificial intelligence and software firm Element AI, Canadian property and casualty insurer Gore Mutual is to adopt the Element AI Underwriting Partner software product into its underwriting practice.
Arch Insurance (UK) Limited (Arch) continues to extend its division through acquisitions. Having acquired Axiom Underwriting on 1 April, Arch has now also completed the acquisition of specialist underwriting agency Obelisk Underwriting.
A recent report published by Ernst & Young LLP (EY) and InsurTechNZ has highlighted that insurtechs in New Zealand are having to form partnerships with other startups, or else plan overseas expansion due to the apathetic reception of local insurers.