Teambrella: A Peer¬to¬Peer Insurance System

Insurance is a service that is currently very non¬transparent. Most notably, the reasoning behind the calculation of premiums is not disclosed and, therefore, cannot be considered intrinsically fair by customers. For auto insurance in the USA, a typical loss ratio is about 60 percent and adjustment expenses make up another 10 percent of premiums. Only half of the premiums are paid back as reimbursements.

Spotlight

INSURICA

INSURICA, established in 1959, is a family-owned business comprised of independent retail insurance agencies, program administrators, and risk pool managers that specialize in core industries and business disciplines and share their expertise with the entire group. This unique structure provides INSURICA customers with unparalleled access to the most unique coverage and risk management expertise available, all delivered through a local agent relationship. From construction to healthcare, energy to education any beyond, our industry-specific knowledge and extensive experience gives us valuable insight into your rare and often challenging needs.

OTHER WHITEPAPERS
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How InsurTech is transforming the insurance industry to address a new era of emerging risks, and improving lives along the way.

whitePaper | December 10, 2019

Insurance, since its inception, has shaped patterns of economic and social growth. It has helped us mitigate the damage of threats and disasters from droughts to car accidents, and has opened new pathways to financial health and stability that would not have been possible without risk management. Insurance is part of all of our lives and, as societies across the globe now grapple with increased risks from climate change to geopolitics, and new trends in consumer demand and technological advancement, insurance is changing.

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Can Insurers Learn How to Develop Strong Digital Customer Relationships?

whitePaper | January 12, 2022

Insurers need to tackle the rapid changes to their ecosystem. They instinctively react in the same way they have always reacted in previous crises — by making marginal adaptations to the traditional way of doing things and further optimizing and streamlining the existing business model.

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Top considerations for insurers in 2023

whitePaper | December 10, 2022

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

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IFRS 17: How can insurers prepare for the biggest change in insurance accounting in recent years?

whitePaper | August 9, 2022

To date, most firms have focused on delivering new functionality such as a CSM calculation engine for life insurers and discounting for general insurers, as well as new accounting rules and reports. Due to compressed timelines, most firms are going into dry run testing with tactical data management solutions that have potential gaps around controls.

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Environmental, Social and Governance (ESG) Considerations for Directors and Officers

whitePaper | May 14, 2023

Increased scrutiny from investors on companies’ Environmental, Social, and Governance (ESG) credentials, such as board diversity and environmental impacts, presents greater potential Directors’ and Officers’ (D&O) liability exposure. Investors, employees and consumers increasingly expect companies to be actively addressing ESG considerations in their structures and operations. Those failing to address these issues may open themselves up to ESG-related litigation.

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Key Features of the The Life Insurance Policy within the Prudential ISA

whitePaper | June 14, 2022

If you invest in a PruFund Fund in the Prudential ISA through the Life Insurance Policy, the assets will be held in trust on your behalf by Link Financial Investments (Nominees) Limited in its capacity as the ISA Plan Manager’s nominee. You don’t hold any direct rights under the Life Insurance Policy.

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Spotlight

INSURICA

INSURICA, established in 1959, is a family-owned business comprised of independent retail insurance agencies, program administrators, and risk pool managers that specialize in core industries and business disciplines and share their expertise with the entire group. This unique structure provides INSURICA customers with unparalleled access to the most unique coverage and risk management expertise available, all delivered through a local agent relationship. From construction to healthcare, energy to education any beyond, our industry-specific knowledge and extensive experience gives us valuable insight into your rare and often challenging needs.

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