David is hosting with Nigel this week with a great guest, Renaud Million CEO of SPIXII to talk all about the latest news in insurtech. Including:
First up, AXA XL moving European arm out of UK ahead of Brexit. AXA XL has received authorisation to move its EU business from the UK to Ireland in advance of the UK’s exit on 29 March 2019. The insurer says it will minimise disruption in its dealings with brokers and clients. It is the latest insurer to announce it’s post-Brexit plans - following the likes of QBE, RSA, AIG, Lloyd’s, Liberty and MS Amlin.
Hiscox reveals volume of cyberattack attempts against small businesses. An estimated 65,000 attempts EVERY DAY.
The approximation was based on tests undertaken by Hiscox to monitor, in real time, the number of attempted breaches on decoy computer systems similar to those used by small UK firms. Hackers are prolific and sophisticated which makes staying on top of cyber security a challenge for all organisations.
MAPFRE Is Now on Amazon. Leading Spanish-insurer MAPFRE announced it has signed a “strategic agreement” with Amazon Spain. As part of the agreement, MAPFRE will offer its products on Amazon.es via a branded storefront, becoming the first insurer in Spain to offer products on Amazon. According to the press release, MAPFRE and Amazon will explore additional ways to collaborate including the use of Amazon Pay on MAPFRE, and installing Amazon’s pickup lockers for online orders in select MAPFRE stores.
Greenlight Re reveals Click2Sure investment. Greenlight Re Innovations, part of specialist P&C reinsurer Greenlight Capital Re, has invested in the digital insurance platform, Click2Sure. South Africa-based Click2Sure has developed a comprehensive digital platform for distributing, managing, and purchasing insurance at the point of sale. The platform’s API-first approach allows easy creation and deployment of custom insurance products through digital channels.
Ecclesiastical calls for charity exemption from IPT. Ecclesiastical has joined forces with Charity Finance Group (CFG) to urge the Chancellor to make charities exempt from paying Insurance Premium Tax (IPT). Ahead of the Budget on 29 October, Ecclesiastical has been working with CFG to raise awareness of the impact of the continuing IPT increases on charities. Since 2015 IPT has doubled from 6% to 12%. The average charity is paying £300 in IPT on top of their insurance premiums.
Farmers summons the undead Halloween-themed life insurance spots. Farmers Insurance has enlisted the help of the undead — a mummy, a vampire and a zombie - in their latest ad campaign to help get customers getting their life insurance policies in order.
This episode of Insurtech Insider was produced by Laura Watkins and edited by Michael Bailey.
- AXA XL moving European arm out of UK ahead of Brexit | Latest News | Insurance Times
- Hiscox reveals volume of cyberattack attempts against small businesses | Insurance Business
- Greenlight Re reveals Click2Sure investment | Insurance Business
- MAPFRE Is Now on Amazon
- Ecclesiastical calls for charity exemption from IPT | Latest News | Insurance Times
- Farmers summons the undead Halloween-themed life insurance spots | The Drum