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Lloyd’s CEO makes call for US flood insurance reform

The devastation caused by hurricanes Harvey and Irma highlights the problem of inadequate flood insurance in the United States, according to Lloyd’s. The insurance market believes reforms are needed to move more risk into the private sector. Currently, most flood risk is borne by the National Flood Insurance Program, a federal program that was already

Why Hurricane Irma might be good for the insurance industry

Could the Lloyd’s insurance market actually welcome Hurricane Irma? It sounds unthinkable but there is a school of thought that some on Lime Street, home to the world’s most famous insurance market, will quietly take grim satisfaction from what has happened. Not from the death, destruction and misery that Irma has wrought, of course. Yet

What do chatbots and automated quotes mean for brokers?

This week, in potentially troubling news for brokers, Co-opInsurance revealed a car insurance chatbot that can give prospective policyholders an estimate via Facebook Messenger in less than half a minute. But while the move is one that seems at odds with the intermediated channel, the CEO of one insurtech firm says that there is still room for brokers