Weekly News Roundup – 3rd March

Although there is more scrutiny (and, consequently, caution) of MGAs/MGUs globally, the market “remains buoyant” according to Clyde & Co’s recent Insurance Growth Report.  Whilst we are on the subject, one of our very own MGAs, Companjon, won an award at the Insurtech Insights event in London this week and we were delighted to celebrate with them. Congratulations team!

Artificial intelligence drives 62% of insurers to reduce headcount – survey (Source: Insurance Business Magazine)
Insurers are using AI and ML to better understand customers and increase sales, although expert says senior underwriters need not worry…for now.

Companjon win ‘Most Innovative Start Up’ award at recent Insurtech Insights event (Source: OneAdvent LinkedIn)
One of our clients, Companjon, who provide digital embedded insurance solutions, were recognised for their innovation at a recent insurance event.

Insurance Growth Report 2023 (Source: Clyde & Co)
This research explores and what key trends could hold them back in the next 12 months.

ICMR forecasts below 90% combined ratio for Lloyd’s (Source: Reinsurance News)
ICMR (a specialist analytics and consulting business) predicts Lloyd’s is on track for its best underwriting result since 2014.

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