Of Special Interest

2nd February 2014

Weekly Insurance Global Analysis

This week, industry-owned Oasis Loss Modelling Framework was launched in London, and its impact on established catastrophe modelling offerings is awaited with interest. Conning reviewed the evolution of global operating platforms for specialist lines. Accenture had a busy time, sealing an IT development and maintenance contract with Scandinavian insurer Tryg, announcing a Duck Creek Policy deal in the US, with the same solution being identified as a "Market Leader" in Europe by Ovum. Guidewire won a Celent award and Cover-All was also highlighted by the analyst. Innovation Group's Insurer Claims and Analytics was chosen by Imperial Fire & Casualty in the US, and Sapiens' IDIT solution was selected by a global multi-line insurance provider. Agencyport announced that Westfield Health has chosen its specialist software for the sector, and Transactor signed up an agency in Malta. Valen Analytics reviewed US personal lines market trends, and Xchanging opened a second office in Singapore. Towers Watson launched a new analytical scoring model in the US combining telematics data and actual insured losses.
EY looked at rapidly developing markets, Fitch highlighted US p&c underwriting volativity and its causes, whilst Willis reported on the record number of catastrophe bonds last year.
On the company front, USI acquired in New York, and Willis merged its facultative arms. KKR is to buy a majority stake in Sedgwick, the US claims management services company, and Lloyd's is looking to open an office in Dubai. Results started to flow, and included ACE, W.R.Berkley, and Gallagher. Paul Hunt is to step back from his executive roles at Argenta Syndicate Management, and Howden Broking Group announced several management changes.
EIOPA revealed its timetable for Solvency II Implementing Technical Standards and Guidelines, and ORIC launched a global offering.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service today at www.onlystrategic.com