Weekly News Roundup – February 24th

McKinsey has revealed that top performers in advanced analytics applications are seeing up to a 25% increase in operating profits as they explore use cases across the value chain. For those of you interested in Lemonade’s progress you can read why they are expecting lower growth this year. In our own news, we are delighted to announce we’ve hired Richard Palmer as our new head of compliance and risk. He’s a seasoned executive with over 40 years’ experience in insurance so please feel free to reach out to him for a chat!

OneAdvent appoints market veteran as new head of compliance and risk (Source: OneAdvent)
The MGA and broker platform’s latest hire is tasked with enhancing the company’s existing compliance and regulatory provision.

Could ESG risks drive a new wave of D&O claims? (Source: YouTalk Insurance)
Lack of board diversity, unethical working practices and greenwashing are all potential D&O claim scenarios as ESG comes to the forefront of the younger generation’s minds, according to RSA.

With rate increases still pending, Lemonade is slowing growth in ’23 (Source: Insurance Journal)
The so-called darling of the insurtech space anticipates key (but not peak) losses as they await the regulator ruling on a rate hike.

On the brink: realizing the value of analytics in insurance (Source: McKinsey)
Absence of board level support for advanced analytics means companies are missing out on a potential 10-25% uplift in operating profits.

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