SPARKCOGNITION

State Farm | January 30, 2020

State Farm, the number-one auto insurer in the US for decades, may soon be playing second fiddle to GEICO. After losing business in the wake of a series of rate hikes, State Farm held a market share of 17% in 2018 – its lowest share in more than two decades, according to a report by Crain’s Chicago Business. Online insurer GEICO, meanwhile, held 13.4% of the market. If the two companies’ average growth rates persist, GEICO will overtake State Farm as the nation’s largest ...

FCA | June 01, 2020

The Financial Conduct Authority has reviewed more than 500 business interruption policies from 40 insurers in order to pull together a sample of 17 policy wordings as part of its plans to bring forward a High Court test case. In an update this morning (June 1) the regulator confirmed it had selected the 17 policy wordings which will be used in the court case to represent key issues in dispute between policyholders and insurers....

K2 Insurance | February 04, 2020

K2 Insurance Services (K2) has announced today that it is entering into a deal with London-headquartered MGA Pioneer Underwriters. Notably, this transaction will be the specialty insurance services holding company’s first acquisition outside of the United States. According to a press release, the UK underwriting organization will be the linchpin for a new international platform from K2. Initially, this will include products in Pioneer’s property cat reinsurance, financial institution...

Insurance Technology

NetVU | March 28, 2022

Major insurance players will soon gather at the Mile-High City for the first in-person conference of the Network of Vertafore Users in three years. Their purpose is to connect with peers, forge ideas and learn to harness technology and data to empower the industry. The program will focus on industry trends shaping the future of insurance communications. Accelerate, powered by NetVU, will be held at Colorado Convention Center, 700 14th Street in Denver, Colorado, from March 28&ndas...