Around the P&C insurance industry: Oct. 31, 2018
News from AXA XL, Maxum Specialty Insurance Group, The KNW Group and more.
AXA XL, a division of AXA, has added complimentary proactive services for its primary cyber & technology insurance clients. During their first cyber insurance policy year, AXA XL’s cyber clients can choose one of several proactive services from a number of pre-qualified vendors.
Maxum Specialty Insurance Group, an excess & surplus company of The Hartford, has launched a new professional liability policy for architects and engineers to help protect them against errors and omissions in the professional services they provide. Maxum’s focus is on architects and engineers’ risks that are considered hard to place due to specialization and claims history, as well as those that are seeking practice- or project-specific excess coverage.
The KNW Group has announced that it will rebrand itself NFP, effective Feb. 1, 2019. The rebrand is a part of NFP’s broader strategy to unite its Minnesota offices and expand its presence in the Central region.
Duck Creek Technologies has been recognized as a Leader in the 2018 Gartner “Magic Quadrant for P&C Core Platforms, North America.” This is the fourth consecutive Duck Creek has been designated a Leader by the research and advisory firm.
RIMS has welcomed the first class of 65 RIMS-CRMP-FED credential holders at the AFERM Annual Summit in Washington, D.C. The new credential was developed in response to the Office of Management and Budget Circular A-123 that urges federal agencies to implement enterprise risk management to enhance decision-making. RIMS administered a pilot exam on Sept. 29 and, beginning in 2019, RIMS-CRMP-FED testing will be available online.
Efma and Accenture have announced the winners of the first Innovation in Insurance Awards, North America chapter:
- USAA - named North America Innovator for fostering a collaborative and creative corporate culture in the last year
- Traity - won the InsurTech category for “Trustbond,” insurance underwriting that helps gather the customer’s reputation from various data sources
- MetLife US - won for Best Customer Experience, Product or Service Innovation
- Munich Reinsurance America - won for Best Claims, Underwriting, IoT or Ecosystem Innovation