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GlobalData
GlobalData

Insurance

Neos limited presence among UK consumers may be challenging for Sky

Aviva has sold smart home technology provider to Sky, after a successful partnership which modernized the insurer’s home insurance offering and saw it hold the largest market share in that line, according to GlobalData GlobalData’s 2020 UK Insurance Consumer Survey found that only 3.9% of consumers had heard of Neos. This is most likely because […]
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Marine, aviation and transit insurance in Asia-Pacific to reach US$14.5bn by 2025, forecasts GlobalData

The marine, aviation and transit (MAT) insurance industry in Asia-Pacific is projected to grow from US$11.2bn in 2019 to US$14.5bn in 2025, in terms of written premiums, according to GlobalData, a leading data and analytics company. GlobalData’s insight report, ‘Global Marine, Aviation and Transit Insurance Market to 2025 – Key Business Lines, Trends, Drivers, Challenges, […]
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Increased levels of personalization hit the term assurance market as more insurtechs launch pay-as-you-go life insurance, says GlobalData

Over the past year life insurers have had to rethink their strategies, being pushed to adopt greater levels of digital services and underwriting flexibility – an area where life insurers have typically lagged. While the direct channel was already gaining ground before the COVID-19 pandemic, consumers’ preference for life insurance is bound to continue shifting […]
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Cyber insurance industry to exceed $20bn by 2025, says GlobalData

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020 and will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘Cyber Insurance, 2021 Update – Thematic Research’, reveals that cybersecurity was thrust into the spotlight […]
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Favorable regulatory landscape to drive Chinese reinsurance market at 6.8% CAGR through 2024, forecasts GlobalData

The China Banking and Insurance Regulatory Commission (CBIRC) has recently proposed revisions to the reinsurance regulatory regime. Against this backdrop, China’s reinsurance market is expected to grow at a compound annual growth rate (CAGR) of 6.8% during 2019-24, forecasts GlobalData, a leading data, and analytics company. The proposed regulations aim to strengthen the risk management […]
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Aon and Willis Towers Watson merger will complement their business solutions and deliver better client services, says GlobalData

Following the news that the Justice Department in the US has filed an antitrust lawsuit that blocks insurance broker Aon’s proposed $35bn acquisition of Willis Towers Watson (WTW), which was announced back in March 2020; Jazmin Chong, Insurance Analyst at GlobalData, a leading data and analytics company, offers her view: “The combination of both Aon’s […]
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Insurtech’s recent funding rounds signals their success in insurance as market bounces back after pandemic gloom, says GlobalData

Investment in insurtech grew strongly between 2018-2019 and looked set to continue thriving until the pandemic hit in 2020. However, as of mid-2021, insurtech outliers are breaking the pandemic gloom and attracting some ground-breaking investment, says GlobalData, a leading data and analytics company. Wefox, a German-based insurtech raised a $650m series C funding round and […]
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Aon embracing IoT to insure COVID-19 vaccine cargo demonstrates the technology’s potential in the insurance market

Aon’s specialized cargo insurance protection product integrated with Internet of Things (IoT) capabilities in order to provide supply chain protection for the global transportation of COVID-19 vaccines is a game-changer – especially for cargo insurance, which can take months to identify and settle, says GlobalData, a leading data and analytics company. IoT capabilities have become […]
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Consumers will benefit from price comparison websites partnering with insurtechs as it will provide more customizable polices, says GlobalData

The latest partnership between Comparethemarket.com and insurtech Getsafe could create a shift in the UK’s personal insurance market. Insurtechs have developed tailored policies for individuals using customers’ own data to personalise features. These include usage-base-insurance or fitness trackers alongside protection policies. By partnering with an insurtech, Comparethemarket.com will expose a wider range of customers to […]
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Increasing natural catastrophes accelerate reinsurance demand in Asia-Pacific, says GlobalData

Increasing frequency of natural catastrophic events has created demand for reinsurance in the Asia-Pacific (APAC) region as domestic insurers seek financial resources to cover such massive risks, according to GlobalData, a leading data, and analytics company. GlobalData’s insight report, ‘Global Reinsurance Market Outlook, 2021 Update – Market Analysis, Key Trends, Competitive Intelligence, Drivers, Challenges, Regulatory […]
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