Around the P&C insurance industry: May 29, 2024
Insurance industry news from NormanMax Insurance Holdings, Cytora, SambaSafety and more is featured in this weekly update.
NormanMax Insurance Holdings launched Syndicate 3939, managed by Apollo, the market leading innovative integrated insurance group. NormanMax Syndicate 3939 has commenced underwriting, focusing on natural catastrophe parametric reinsurance products for hurricane, tropical cyclone, typhoon and earthquake. NormanMax will combine 21st century data and technology to create parametric solutions for clients around the globe to address the natural disaster protection gap, at a time of increased climate risk and volatility.
Platinum Specialty Underwriters has made a strategic acquisition with the purchase of Flood Risk Solutions, Inc., marking a significant leap forward in the evolution of flood insurance provision for both the personal lines and commercial sectors.
Cytora launched the Risk Flow Academy, a free digital learning platform designed specifically for commercial insurance professionals. This innovative initiative is the first comprehensive training resource focused on digital risk processing for the industry. The Risk Flow Academy is designed to empower insurance professionals with the skills and knowledge needed to thrive in the era of digital risk processing. The platform covers key topics on digitizing submissions, leveraging Generative AI, designing schemas, seamlessly integrating data sources into digital workflows and more.
SambaSafety has released its inaugural “2024 Driver Risk Report: Key Trends Shaping Automotive Mobility.” The report leverages SambaSafety’s vast repository of telematics, motor vehicle record, and Compliance, Safety, Accountability data to provide invaluable observations into the evolving landscape of driver risk. The report explores how these trends affect various facets of driver risk management, including hiring and retention practices, compliance with fluctuating laws and regulations, and insurance rates and profitability. The report is available for download on SambaSafety’s website.
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