{"id":953,"date":"2023-02-04T10:30:53","date_gmt":"2023-02-04T15:30:53","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=953"},"modified":"2023-02-04T08:45:07","modified_gmt":"2023-02-04T13:45:07","slug":"3-things-02032023","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-02032023\/","title":{"rendered":"3 Things – Q4 Results, Next Gen Insurtech, Investment Trends & GM Trademark"},"content":{"rendered":"

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Hello Friends!\u00a0 This week we are following insurer results, the next generation of insurtech, investment trends and a GM trademark filing.\u00a0 Here are the three things we learned:<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Q4 & 2022 Results<\/p>\n

Many Insurer results to digest this week.\u00a0\u00a0Chubb<\/a>\u00a0has a 38.7% drop in Q4 profit due in large part of catastrophe losses but also crop insurance.\u00a0 Overall they remain \u201cbalanced and broad-based\u201d and have a combined ratio of 88%.\u00a0 Commercial and speciality lines continue to be a growth area.\u00a0\u00a0Allstate<\/a>\u00a0reports a Q4 loss of $310M less than predicated and a full loss for 2022 of $1.04B.\u00a0 They are getting hit across the board by loss severity and unfavorable reserves in auto insurance.\u00a0 Their combined ratio in auto has risen to 112.6 and they stated that improving the profitability is a strategic priority.\u00a0 It is a tough market right now where they can only raise rates so much while they wait for inflation to cool.\u00a0 Other reports include:\u00a0Markel<\/a>,\u00a0The Hartford<\/a>,\u00a0Hanover<\/a>\u00a0&\u00a0Aon<\/a>.\u00a0 Our friend Ian shares an approach to\u00a0analyzing insurer earnings<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Next Generation of Insurtech<\/p>\n

This week featured interesting developments as we follow the evolution of the ‘next generation’ of insurtech innovation.\u00a0 Full-stack, tech-enabled,\u00a0Slide Insurance annoucned a deal to acquire the renewal rights<\/a>\u00a0of 91,400 Florida homeowners policies from UPC Insurance.\u00a0 Founded by Florida property veterens, it will be interesting to see how they are able to use data science to price risk differently and attract reinsurance capital.\u00a0 Another cyber security and insurance provider BOXX Insurance has arrived.\u00a0 They announced a\u00a0$14.4M Series B<\/a>\u00a0funding round from Zurich.\u00a0 Like others, they are hoping to focus on prevention first by providing security products and other protection.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Gallagher Insurtech Report & GM<\/p>\n

Gallagher Re, formerly Willis, released their\u00a0Global InsurTech report for Q4 2022<\/a>.\u00a0 Among other key findings, insurtech funding has decreased by 57% with less overall ‘mega’ rounds.\u00a0 2022 was the first one year drop since 2016.\u00a0 It is clear that funding has become harder to raise and startups have to focus on profitability more than growth.\u00a0 General Motors, who also\u00a0reported earnings this week<\/a>, also filed a trademark for “GM Financial Insurance Company<\/a>” last week.\u00a0 This could be a step towards setting up a full stack carrier to underwrite their embedded connected vehicle insurance product.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Thank you for following us, we appreciate your feedback and continued support. \u00a0Stay productive, stay safe and stay in touch!<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hello Friends!\u00a0 This week we are following insurer results, the next generation of insurtech,<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n3 Things - Q4 Results, Next Gen Insurtech, Investment Trends & GM Trademark - Wikifri<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wikifri.com\/3-things-02032023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - Q4 Results, Next Gen Insurtech, Investment Trends & GM Trademark - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hello Friends!\u00a0 This week we are following insurer results, the next generation of insurtech,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-02032023\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-04T15:30:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-04T13:45:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png\" \/>\n<meta name=\"author\" content=\"Nick Coenen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Coenen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-02032023\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-02032023\/\",\"name\":\"3 Things - 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