Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&C) insurers to assess underwriting risks. WHY IT’S IMPORTANT P&C insurers’ earnings have been hit by higher …
Swedish truck maker Scania must share car data, such as vehicle identification numbers, with repair shops and parts distributors, Europe’s top court said on Thursday in a ruling that could provide a boost for the latter looking to tap a …
Residents of Southeastern states like Florida will be looking ahead to the heart of hurricane season with trepidation. With climate change bringing storms that are wetter, slower and more prone to intensifying rapidly, insurers are struggling to assess risk and …
Businesses and Big Tech on Wednesday criticized European Union data rules agreed between EU countries and lawmakers, saying they could hinder data flow and contractual freedom, while a pan-European consumer group said they did little for Europeans. The Data Act, …
Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from U.S. and Chinese tech companies. The vehicle data tussle between carmakers and a coalition …
A broad coalition of insurers, leasing companies, car repair shops and others are calling on the European Commission to propose rules for fair access to valuable vehicle data soon, fearing further delays could see the initiative shelved after European Parliament …
Corporate governance and investor data firm Institutional Shareholder Services Inc. said it has agreed to acquire Discovery Data, Inc., which provides data and analytics to the asset management, insurance and other financial services industries. No terms were disclosed. Based in …
Years of low interest rates and burgeoning catastrophe losses have accelerated the hardening of the reinsurance market, as the January 2021 renewals clearly demonstrated, and moreover, the COVID-19 pandemic has worsened the “lower for longer” interest rate environment. Considering suboptimal …
Moody’s Corp. reported that it has completed its acquisition of RMS, the climate and natural disaster risk modeling and analytics firm. In the transaction, originally announced on August 5, 2021. Moody’s paid approximately $2.0 billion (1.425 billion pounds) to acquire …
Property/casualty insurers plan to accelerate their use of automation for actuarial work, a new Willis Towers Watson survey found. What’s more, COVID-19 has been a major factor in the trend. The sector’s overall aspirational score (toward wanting more automation) was …
