Weekly News Roundup – 11th November

As COP26 draws to a close today, the insurance industry continues to emphasise its support in mitigating the devastating effects of climate change (a case in point being the Parhelion story below). In other news, a new study anticipates that global premiums will hit $10 trillion by 2030 due to the broader use of new technologies and insurtech Lemonade makes waves as it announces its intentions to purchase Metromile.

Parhelion CEO says no to marine, aviation and fossil fuels business (Source: The Insurer)
Said to be the world’s first fully sustainable insurer, it comes as no surprise that Parhelion have declined to accept these classes of business, at least until they have something more sustainable to offer.

Insurance 2030: As risks mount insurers aim to augment protection with prevention (Source: Bain & Company)
A recent report postulates 5 questions that the industry should be asking itself in order to navigate the road ahead. It also reveals that climate change, disease, and technological disruptions are combining to produce more risks—and different types of risk.

Latest on future regulatory regime for UK financial services – insurance industry reacts (Source: Insurance Business Magazine)
Reactions are a mixed bag from the industry as some praise the HM Treasury’s consultation and its plan to encourage global growth but others think the changes are inadequate.

Lemonade to acquire auto insurer Metromile in merger of insurtechs (Source: Insurance Journal)
In order to grow its presence in the auto insurance space, Lemonade have purchased the pay-per-mile start up, Metromile.

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