QBE delivers climate change action

Insurance Business America | April 01, 2019

As part of its commitment to act on climate change, Australia’s third largest insurer has announced its plans to stop offering insurance cover for thermal coal mines and coal-fired powered stations and has released its new energy policy. QBE Insurance Group said that by 2030, it will phase out all direct insurance services for thermal coal customers, which make up less than 0.5% of its current coal revenue, but will continue to invest in and provide insurance services for metallurgical coal and oil and gas companies. Effective July 01, QBE will stop offering any new direct insurance services for construction projects for thermal coal mines, coal-fired power stations, or thermal coal transport infrastructure, Reuters reported. “We also commit to targeting zero direct investments in the thermal coal industry by July 01 this year, while maintaining a margin of up to 0.5% of total funds under management,” said Pat Regan, QBE Group CEO.

Spotlight

The U.S. health care system is undergoing significant transformation as a result of Federal, State, and private payer policies designed to improve access to medical care as well as the value and outcomes of health care while attempting to slow cost growth. Some payment innovations, such as accountable care and other risk-based models, drive organizational and delivery changes that have shown evidence of improved quality, reduced care fragmentation, and lowered costs for certain populations.1,2 Yet overall, the entire system has not realized substantial cost savings nor has quality improved for everyone. There continue to be gaps between people who live in areas where progress is being made and those who do not, perhaps reflecting symptoms such as rising health insurance premiums, unstable insurance markets with limited plan choice, large variation in uninsured rates and access to care, and continued health professional shortages. It is clear that more changes are required if real progress is to be made toward lowering total health care system costs, improving access and health care experiences for all individuals, and achieving better population health.

Spotlight

The U.S. health care system is undergoing significant transformation as a result of Federal, State, and private payer policies designed to improve access to medical care as well as the value and outcomes of health care while attempting to slow cost growth. Some payment innovations, such as accountable care and other risk-based models, drive organizational and delivery changes that have shown evidence of improved quality, reduced care fragmentation, and lowered costs for certain populations.1,2 Yet overall, the entire system has not realized substantial cost savings nor has quality improved for everyone. There continue to be gaps between people who live in areas where progress is being made and those who do not, perhaps reflecting symptoms such as rising health insurance premiums, unstable insurance markets with limited plan choice, large variation in uninsured rates and access to care, and continued health professional shortages. It is clear that more changes are required if real progress is to be made toward lowering total health care system costs, improving access and health care experiences for all individuals, and achieving better population health.

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Greater Than Collaborates with MSIG Global Digital Hub

Cision PR Newswire | October 08, 2020

Greater Than, the insurtech provider of AI-based risk intelligence, has today entered a collaboration with MSIG Global Digital Hub and MSIG Vietnam, part of MS&AD Insurance Group, and Asia's leading insurance provider. Through the partnership, Greater Than will provide MSIG Vietnam, with AI-based driving analytics attached to an app-based loyalty service to be launched for MSIG Vietnam's auto insurance customers in the fall of 2020. The customer-centric offering will promote insurance holders that drive safe. The new offering is a step in the direction of MSIG to offer digital products creating an enhanced customer experience. Through Greater Than's AI-based risk analysis and loyalty program, the car insurance provider will be able to identify risk groups to calculate existing and future real-time damage costs and new ways to directly rewarding customers who drive safely.

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INSURANCE TECHNOLOGY

Bluefire Insurance Implements Insured.io’s Customer Engagement Platform

November 20, 2020

insured.io, a supplier of cloud-based, customer engagement solutions for the protection business, is satisfied to report that Bluefire Insurance (Bluefire) has effectively actualized the organization's Customer Engagement Platform. Bluefire is an overseeing general organization (MGA) framed from an organization of viable offices offering a wide assortment of creative protection solutions over different states. The organization is centered around giving extraordinary items, top tier claims dealing with, and first class, customized administration. Bluefire was established through a progression of acquisitions which brought about the organization's business being run on different, dissimilar center administration frameworks. "Our policyholder data was spread across a number of different systems,” said Lola Misicka, vice president of strategic project delivery at Bluefire. “Insured.io helped us to unify the customer experience under one platform and streamlined the customer journey for the Bluefire brand. It also gave us the ability to see all of our customer data consistently and immediately. Our customer behavior patterns and metrics are now available at our fingertips." As a component of this implementation, insured.io had the option to illuminate Bluefire's requirement for an all encompassing policyholder solution. With various inheritance center frameworks and different sellers offering types of assistance, the customer venture was superfluously confounded. Insured.io's Customer Engagement Platform smoothed out the experience by connecting the entirety of Bluefire's current frameworks to give a solitary solution to customer engagement, including a customer entryway, coordinated voice reaction (IVR), repeating installments, electronic records, announcing and investigation modules, and that's just the beginning. The fast implementation was finished on-schedule, on-spending plan, and with no disruption to Bluefire's business cycles or IT assets. "Bluefire needed an entirely new customer experience," said Steve Johnson, co-founder and head of product for insured.io. "We provided a SaaS, cloud-based solution which enhanced their customer journey and didn’t require them to replace any of their existing core systems. It’s a relationship which we look forward to growing in the future." Insured.io gives insurers a platform which interfaces and brings together customers, makers, and workers by means of any channel. Equipped for integration with any current center administration framework, insured.io's Customer Engagement Platform changes the customer venture, improves interior capacities, augments capital speculations, and expands measure straightforwardness for protection organizations over all lines of business. Insured.io quickens advanced transformation by giving a platform that works flawlessly with any framework, yet additionally makes a versatile well disposed client experience, and builds oneself help and engagement open doors for all protection cycle stakeholders. About insured.io Insured.io accelerates digital transformation for insurance organizations with a 360-degree suite of SaaS solutions built on a modern, cloud-based platform. The insured.io Customer Engagement Platform integrates seamlessly with multiple core administration systems and includes interactive voice response (IVR), policyholder and producer portals, direct-to-consumer sales, recurring payments, first notice of loss (FNOL), and analytics.

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Thoma Bravo Acquires Majesco

Cision PR Newswire | September 21, 2020

Thoma Bravo, L.P, a leading private equity firm focused on the software and technology-enabled services sectors, today announced that it has completed the acquisition of Majesco, a global leader of cloud insurance software solutions for insurance business transformation. As previously announced on August 8, 2020, under the terms of an amended and restated definitive merger agreement, Thoma Bravo agreed to acquire all of the issued and outstanding shares of Majesco common stock for $16.00 per share in cash. In conjunction with the closing, Majesco's common stock will cease trading before the market opens on Tuesday, September 22, 2020 and the Company will no longer be listed on the Nasdaq stock exchange. Majesco will operate as a privately-held company.

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