innovation News

Re/insurers Increasingly Less Relevant to Global Economy: XL CEO McGavick

XL’s CEO Mike McGavick doesn’t mince words when it comes to looking at the big, and not very pretty, picture of the state of the re/insurance industry. Address emerging risks, innovate, create new products and provide potential insurance buyers with …

Special Report: Top 10 Innovative P/C Insurance Products

In the past few years, dozens of property/casualty insurers have announced innovative protections for risks involving new technologies, current economic concerns, personal and family relationships, home-based small businesses, and more. “This is a new era in property/casualty insurance. Innovation is …

UK Gov’t. Minister Lauds Willis Tech Product; Stresses Innovation Importance

In a rapidly changing world, new innovations that keep global companies competitive are an extremely important resource – none more so than in the UK’s insurance sector. The Rt. Hon. David Willetts, the UK’s Universities and Science Minister, demonstrated just …

Deloitte Advice for Insurers in 2012: Focus on New Products, Countries

Global economic challenges will make it difficult for insurers to generate growth and profits over the short and long term, however, they might improve their chances for achieving success in 2012 by focusing on new insurance products and on emerging …

6 Ways to Kill Innovation Without Even Trying

Why do some great ideas fail and others succeed? The unique innovations pioneered by someone like Apple CEO Steve Jobs may have less to do with “out of the box” creativity than with mastering—and overcoming—a set of fundamental constraints that …

Swiss Re sigma Report Highlights Progress in P/C Product Innovation

A new sigma report, “Product innovation in non-life insurance,” from Swiss Re underscores the conclusion that there’s “much more to innovation in non-life insurance than people think.” In effect the report stresses that, “although a changing environment continuously forces the …

FERMA’s President on the Risk Managers’ Role, Transparency, Innovation

Peter den Dekker has been a busy man. However, the President of the Federation of European Risk Management Associations* (FERMA) took time out to talk to the IJ on the expanding role risk managers are playing in these troubled times, …

Reinsurers Eye Innovation As Prices Disappoint

Catastrophe claims totaling $70 billion have failed to generate a hoped-for upturn in reinsurance prices, putting the industry under pressure to specialize and develop new products to generate growth. Reinsurance policy prices look set to stay broadly flat when customers …

Special Report: Top 10 Innovative P/C Insurance Products

A wave of new product offerings is jeopardizing the property/casualty insurance industry’s image as uncool. Since the beginning of the year, dozens of property/casualty insurers have announced innovative protections for risks involving new technologies, current economic concerns, personal and family …

Progressive Goes National with Usage-Based ‘Snapshot’ Car Insurance Program

Progressive has begun national advertising for its “Pay-As-You-Drive” program, Snapshot, which offers drivers discounts of as much as 30 percent based on real-time analysis of their driving habits. Over the past few years Progressive has been refining its “Pay-As-You-Drive” program, …