week commencing 25/02/18:

With arctic winds and heavy snowfall sweeping the nation this week we find ourselves living up to the stereotype of Brits who speak of nothing but the weather and crave endless hot drinks. If you’re looking for something to shake up the conversation this weekend, might we suggest any of the topics we’ve collated in this week’s round-up? Now, where did we put our hot water bottles…?

Big data arrives in Chinese transport sector
Chinese online-only insurer ZhongAn has unveiled Data Cube, a new big data platform that will help it reach its goal of creating a big data industry ecosystem. External-link [Asia Insurance Review]

Hiscox feels the fallout of 2017
The damage continues to be felt after a huge year for natural disasters in 2017 as Hiscox reports that more than 90% of its profits were wiped out. External-link [Financial Times]

Global commercial insurance rates rise for first time in four years
Catastrophe-hit property markets have boosted global commercial insurance rates into their first average increase in over four years. External-link [Insurance Insider]

The pressure is on for the financial regulator
The head of the UK’s financial regulator has resisted pressure from the Treasury Select Committee to expand its current remit and focus more on promoting competition. External-link [Financial Times]

LMG embraces AI
LMG is set to join the revolution currently sweeping through the industry with plans in place to harness the power of AI and robotics to transform the claims process. External-link [Insurance Day]

Berkshire down $1.8 billion in AIG reinsurance deal
Initial expectations were shown to be way off the mark this week after Berkshire Hathaway’s annual results revealed the huge discrepancy in its legacy reinsurance deal with AIG. External-link  [Insurance Insider]

Buzzvault Insurance partners with Munich Re in product drive
Buzzvault and Munich Re have announced a five-year strategic partnership, with the move set to help the former launch its new products into the market by Q3 this year. External-link [Insurance Post]

Opinion: Does age equal maturity for the cyber market?
Following remarks from Inga Beale last week that the global cyber market is “frustratingly immature” and the ensuing backlash, Catrin Shi debates at what point the market could be called ‘mature’. External-link [Insurance Insider]

China takes on America in race to the top of tech
It’s long been understood that the USA leads the way – in defence, entertainment, elite universities, global clout and more. With China rapidly establishing dominance over an ever-growing list of sectors, can Silicon Valley cling onto the lead in the most hard-fought area of all: tech? As it turns out, probably not. External-link [The Economist]


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