London Market
Chubb combined ratio rises to 84.1% on $705m of catastrophe losses
Chief executive Evan Greenberg said competition in commercial lines is building in London as well as the US.
CoverWire
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Brokers
Marsh index shows UK commercial insurance rates fell 8% in Q3
It was the eleventh straight quarterly fall for UK rates, with property down 11% and cyber down 7%.
Life and Health
UnderwriteMe says up to 84% of diabetes cases get instant decisions
The share of diabetes cases getting an immediate life cover decision rose from 71% in 2024, the Pulse Report shows.
Property
Arbol launches parametric cover for data centre construction moratoriums
The policy pays a set amount when a government halt on data centre building stays in force beyond a waiting period.
Brokers
Vertafore adds Velocity Coach Agent to AMS360 and Sagitta for agencies
Vertafore says the agent cut the time staff spend finding answers by up to 88% in internal testing.
Funding
Brazil's Alice raises $40m led by IFC for AI-run health plan
The Brazilian corporate health plan operator says AI has cut its operational care costs by 18%.
London Market
Marsh says Broker Workbench cuts London placement processing to hours
Chief executive John Doyle told analysts that 93% of Marsh's wholesale trading in London is now digital.
AI
The Hartford puts data and AI under technology chief Shekar Pannala
Chief claims officer Stephen Deane will also take on operations when the changes take effect on 2 November.
AI
Mandl launches with insurer, claims administrator and operations platform
Rushil Goel's San Francisco group starts with commercial insurer Nirvana, claims administrator Vega and operations platform Cooper.
Deals
DXC enters talks to sell insurance division to Eldridge for about $2.4bn
Eldridge is discussing combining the division with Zinnia, its technology platform for life insurance and annuity providers, Reuters reported.
AI
WTW adds AI assistant to RiskAgility FM for actuarial model builds
The assistant can plan, build and test life insurance models from a specification, then document the work for actuaries to review.
Life and Health
Ping An Health says AI claims agent cut pilot closure times to hours
The Chinese health insurer plans to roll the agent out to more than 11,000 products after a children's medical pilot.
Cyber
Brit adds cyber to Acturis Package for brokers at commercial renewal
The move comes five months after Brit joined Acturis CyberNow, the platform's standalone cyber route.
Regulation
FCA says senior managers are accountable for their firms' AI
The regulator published examples of good and poor practice, including insurance claims cases, on 19 October.
AI
Moody's finds AI in core work at two-thirds of North American insurers
Only 41% of the 58 insurers, reinsurers and brokers surveyed consistently track the benefits of each AI use case.
Cyber
Old Mutual says provider error may have exposed customer phone numbers
It is the second incident involving an Old Mutual service provider this year, after a vendor account was compromised in June.
Cyber
CRC says US SME cyber renewal prices rose 7.5% in September
The US wholesaler said small business cyber pricing appears to have reached a floor, even as reinsurance prices keep falling.
Reinsurance
Travelers cedes more cyber premium to reinsurers from 1 October
The change cuts net written premiums by about $165m in the fourth quarter and $230m in 2027, with earnings broadly unchanged.
Cyber
Malakoff Humanis links leaked health data to August attack on IGA
A hacker posted 16,556 health claims documents that the French insurer traces to an attack on a provider managing about 2,000 insureds.
AI
Uinsure cuts planning cycle to six weeks after launching AI lab
The home insurance distributor has also launched a service that checks cover against seven insurers several times a year.
