Interesting update from Lloyd’s on the current state of the D&O Market: Lloyd's Chief of Markets, Patrick Tiernan, raises concerns about the “relatively shambolic state” of the Directors' & Officers' market. He points out irrational underwriting behaviors, sharp rate declines, and widening coverages in both the US, Australia, and Europe. Tiernan criticizes some for their underwriting approach and highlights a need for dynamic management and active oversight of relationships. Lloyd’s is resilient but emphasizes performance as a priority, with a focus on US general liability and specialty classes impacted by geopolitical risk. #Insurance #RiskManagement #InsuredHQ https://lnkd.in/gTj4fDQC
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Another incredible win! We’re thrilled to announce that InsuredHQ has been recognized as one of Insurance Business Australia's 5-Star Insurance Innovators for 2024! This award highlights the top 25 companies driving innovation in the insurance space, and we are honored to be included among such forward-thinking leaders. This recognition, along with our other 2024 awards, underscores the dedication of our amazing team and the trust of our clients. Read more about the award in our latest blog post: https://lnkd.in/gkcT9F7H #InsuranceInnovation #5StarInnovators #InsuredHQ #FutureOfInsurance #InsuranceBusiness Insurance Business New Zealand
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InsuredHQ has been named a finalist for the 2024 ANZIIF New Zealand Insurance Industry Awards – Insurtech Startup of the Year! Wahooo!! For the third consecutive year, we are thrilled to be recognized for our commitment to revolutionizing core insurance administration and automation. A massive thank you to our amazing team, clients, and investors for making this possible. We also want to celebrate our industry friends: - Simfuni & JAVLN – our fellow Insurtech nominees and good buddies - Folio.insure – Broker Network of the Year finalist - awesome! - RedBook New Zealand – Service Provider to the Insurance Industry nominee (one of our integrated Service Providers!) Here’s to shaping the future of insurance together! https://lnkd.in/g8KcVH-H #Insurtech #InsuranceInnovation #ANZIIF2024 #InsuredHQ #NewZealandInsurance Insurtech Australia InsurTechNZ
InsuredHQ Named Finalist for 2024 ANZIIF Insurtech Startup of the Year for Third Consecutive Year!
blog.insuredhq.com
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Cybercrime is an ever-growing business, and the insurance industry is far from immune. In our latest blog post, we dive into the evolving landscape of cyber risk in 2024, exploring insights from Beazley's recent report on cyber threats and how businesses can stay protected. #cyberinsurance #cybersecurity #Beazley https://lnkd.in/gpbP3MkT
The Evolving Face of Cyber Risk: What Businesses Need to Know in 2024
blog.insuredhq.com
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Having gone through a similar review process with an Australian insurer, we’ve seen firsthand that CPS 230 sets a high standard for third-party providers. For many, meeting these requirements could represent a significant investment beyond their current capabilities. It’s crucial that insurers select third-party partners and technology companies who not only understand these standards but can exceed them to ensure ongoing compliance.
Here is my latest interview to Insurance Business Australia on how CPS 230 is likely to impact insurance industry. What do you think? Working with different companies from small agencies to larger insurers, brokers and suppliers, we believe that the single differentiating factor amongst them in raising the bar on operational resilience is not the size or the budget, but their compliance culture. When everyone in the company is encouraged and supported in “doing the right thing”, we see this as the sign of good compliance culture and transparency. https://lnkd.in/gE_yR6i9
Is CPS 230 an industry “game changer”?
insurancebusinessmag.com
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ASIC’s 2024-25 corporate plan is taking aim at harmful insurance practices across Australia. Learn what these regulatory changes mean for insurers, brokers, and the broader industry via our newest blog post below https://lnkd.in/gdDSn9wU #Insurance #Regulation #ASIC #CorporatePlan #Compliance #InsuranceIndustry ASIC
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In today's rapidly evolving digital landscape, the threat of cyberattacks continues to escalate, posing significant risks to insurers and their clients. At InsuredHQ, we have experience navigating these challenges, particularly in alignment with Australian Prudential Regulation Authority's (APRA) regulations. Our latest blog post dives deep into the APRAs recent guidance on addressing common cybersecurity weaknesses. This crucial advice is aimed at ensuring that insurers maintain robust cyber defenses, especially in areas like privileged access management and security measure testing. If you ever want to learn more, don't hesitate to reach out—we'd be happy to chat further. https://lnkd.in/gqDtiYTr #CyberSecurity #Insurance #InsuredHQ #APRA #RiskManagement #CyberResilience
Strengthening Cyber Resilience: APRA’s Guidance on Addressing Common Cybersecurity Weaknesses
blog.insuredhq.com
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We are thrilled to announce that Insurance Business Australia has recognized InsuredHQ as a global top insurtech company and a global 5-star technology and software provider for 2024. This marks the third consecutive year that we've received this prestigious award! The hard work and dedication of our incredible team and ecosystem partners and the unwavering support from our clients have been the driving force behind our success. Thank you to everyone who has been part of our journey. For more details on this recognition and to see the full list of winners, check out the article here: https://lnkd.in/gsDN9TjJ Insurtech Australia InsurTechNZ Underwriting Agencies Council (UAC)
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Thank you to ANZIIF for the opportunity for our own Jon Davies to speak at the ANZIIF New Zealand Liability Conference and share insights on practical AI applications in the insurance sector! Here is the selfie we asked ChatGPT to describe (nailed it). Thanks for organizing such a stellar event. Special thanks to Rachel Magill for all her efforts and Paul O'Leary from InsurTechNZ for connecting this all up. We look forward to continued conversations about value creation and real ROI driven by AI in our industry. #Insurance #AI #InsurTech #ANZIIF #Conference #Innovation #ValueCreation #ROI #Networking
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Hey - look at that, I see InsuredHQ!! Great to see such a healthy looking Ecosystem. #Insurtech is alive and well in Australia - great work Insurtech Australia!!
Insurtech Australia’s Member Ecosystem Map – TAKE A LOOK! https://lnkd.in/g5N8Z26z We're excited to bring this interactive Map to life. It showcases our Insurtech member community to Australia and the world, and is a visual and dynamic representation of member focuses and capabilities across a variety of sectors and value chains. For more info on our Insurtech members, please reach out to us at hello@insurtechaustralia.org Simone Dossetor Anna Cranney Lawrence Roqueza Carolyn Johnston #insurtechaus #insurtech #insurance #technology #collaboration #innovation #networking #members #partners #startups #founders #scaleups James Orchard Vanessa Dobson Sid Baidwan Tetiana George （梅玉瑛）Peter Williams Lisa Woodley #Australia
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The Ardonagh Group's $2.3 billion acquisition of the PSC Insurance Group is a game-changer for the Australian insurance industry and marks a significant milestone in the Australian broking market. Learn more about this major move and its impact on the market in our latest blog post. https://lnkd.in/dsJSFmmr #Insurance #Broking #Acquisition #IndustryNews #InsuredHQ
Ardonagh's $2.3 Billion PSC Acquisition: A Milestone in Australian Broking
blog.insuredhq.com
Kristen Ellis — what we discussed earlier today