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Hi All! This week we are following the launch of an Insurance Playground, market conditions and Munich Re and Tesla making news. Here are the three things we learned: |
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Insurance Playground Launch Solutions that help insurance organizations connect with technology are always a good idea. Agents and distribution channels are ripe areas for innovation. So the launch of the Insurance Playground this week will help. The new online directory will utilize a digital assistant to help agents connect with innovative technology they can use. This is powered by a former agent who has experience with technology and innovation. |
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Hard Market to Continue, CAT Losses Exceed News started to come in this week about larger than expected CAT losses for the industry. There is an expectation that for the 5th year in a row losses will meet or exceed plans. Meanwhile the hard market is expected to persist into 2022. Commercial rates are still high though have steadied and the CAT losses contribute to this dynamic. |
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Munich Re Has $500M to Invest One of the most active reinsurers Munich Re, announced a new $500M venture investment fund. They have already invested over $1B in various insurtechs and innovative technologies. Not only will they focus on early stage companies but also on helping those they have already invested in to further their advance. BONUS #4: Tesla Insurance is live in Texas, we knew this was coming and it will be worth watching, looks like they are creating a new auto insurance score. |
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