‘Chatbots' could ease service load
It is time for insurers to stop hiding behind phone screens and start tackling the industry's customer service issue with better forms of communication, newly appointed LivePerson APAC regional VP...
View ArticleNib boasts 31% FY17 profit rise
Nib Holdings boasted a 30.9% rise in FY17 after-tax net profit on FY16 to $120.2m in its 2017 shareholder review released last week. Premium revenue was up 6.4% to $1.7bn. Net investment returns...
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AG has started an international search to replace CRO Clayton Whip , who will retire by the end of March 2018 ... Special counsel Noa Zur joined Lander & Rogers' insurance law and litigation...
View ArticleQBE profit takes $US600 hit
QBE has issued a profit warning of $US600m ($763.4m) caused by the impact of hurricanes Harvey ( CN 31/08/17 ) , Irma ( CN 28/09/17 ) and Maria and the Mexican earthquakes. The group's combined...
View ArticleEnsurance plans $3m share placement
Ensurance Ltd, which has Lloyd's coverholder status in Australia and the UK, is planning a fully underwritten $3m share placement to expand its UK and Aust operations. The self-styled disrupter this...
View ArticleTC Debbie loss estimate rises
Perils AG has revised its estimated Tropical Cyclone (TC) Debbie insured losses up to $1.66bn. It had previously predicted losses would reach $1.4bn ( CN 17/08/17 ) . The catastrophe insurance data...
View ArticleFitch: 2017 may be costliest on record
After Hurricane Maria's devastation in the Caribbean (above) , 2017 insurance and reinsurance catastrophe losses could reach close to $US190bn ($A241.6bn), Fitch Ratings says . That would be the...
View ArticleLloyd's reports ‘challenging' 2H17
Lloyd's CEO Inga Beale has blamed “challenging conditions” for a 16.4% 2H17 profit decline to £1.22bn ($A2bn). The market's capital return dropped 280bp to 8.9%; and investment returns were down 30bp...
View ArticleQuestions over cyber policy value
Policyholders are questioning whether cyber policies deliver real value, a newly released PwC report says. Cyber insurance was still a “largely untapped” opportunity for insurers and reinsurers ( CN...
View ArticleAon sues Willis over CFO hire
Aon is suing rival Willis Towers Watson over hiring Michael Burwell as its new CFO ( CN 24/08/17 ) because, as a PwC partner, Burwell advised Aon on its restructuring plans, industry publication...
View ArticleEditorial team
Editor: Eva Wiland. Email eva.wiland@thomsonreuters.com. Contributing Editor: Kate Tilley. Journalist: John Reynolds. Managing Editor: Helen Jones. Twitter: @Cover_NoteTR.
View ArticleAbsent nurse defrauded insurer
A former Brisbane nurse who continued to claim permanent disability payments despite working overseas has been ordered to reimburse AIA Australia for its investigation. Federal Court Chief Justice (CJ)...
View ArticleASIC seeks cost recovery comment
ASIC is seeking industry comment on its proposed cost recovery implementation statement ( CRIS ) ( CN 27/07/17 ) , including estimated costs for its FY18 regulatory activities. ASIC said $246.4m of its...
View ArticleAFS client money reporting rules out
ASIC has finalised client money reporting rules 2017 which, from April 4, 2018, will impose record-keeping, reconciliation and reporting obligations on Australian financial services (AFS) licensees...
View ArticleUK co brings novelty to auto claims
A UK-based claims management provider is claiming a first for the Australian auto market with the launch this year of its Claim Mate service. Action365, which has been in business for 20 years and also...
View Article‘Tech-focused' super fund cuts fees
Self-proclaimed “tech-focused” super fund Spaceship has launched a new portfolio option, increasing its focus on technology assets and lowering its annual fees and costs from 1.60% to 0.99%. Spaceship...
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Actuaries Institute (AI) CEO David Bell is leaving at the end of CY17 to take on a new role. He joined AI in 2014 ... Spaceship (above) has appointed former APRA EGM Sarah Goodman , Ellerston Global...
View ArticleBMF rules out PE cladding import ban
The Building Ministers' Forum (BMF) on Friday (October 6) decided against an import ban on highly flammable polyethylene (PE) cladding of the type that caused the rapid spread of fire at London's...
View ArticleIcare picks GB for HBCF claims role
Icare has named Gallagher Bassett (GB) claims manager for the NSW Home Building Compensation Fund (HBCF) after “a robust open tender process”. HBCF GM Jon East said icare and GB were aligned “in their...
View Article‘Huge' sign up to CBA class action
Law firm Maurice Blackburn (MB) and litigation funder IMF Bentham this week started a huge class action against the Commonwealth Bank of Australia (CBA). MB said thousands of CBA shareholders and...
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