Munich Re signs digital transformation deal with HCL to create a next-gen digital workplace

Key Insights and Signals in Insurance

Centre Setup and Expansion
Kaiser Permanente exploring a USD 46 Mn expansion in Fresno 
Kaiser Permanente’s proposed design combines new construction and some remodel work in the emergency department. The project proposal states that Kaiser would gain a new entry, lobby, and patient drop-off area at the north side of the health pavilion. Read More>>
Bright Health to grow footprint in 2022 and add 42 new markets 
Bright Health will use proceeds from its IPO to fund the expansion, which will bring its total number of markets to 141 from 99. The company will also expand its product portfolio in states where it already operates. Read More>>
Deals and Deal Renewal 
Swiss Re and Climeworks partner to combat climate change 
Swiss Re Ltd. has entered a 10-year carbon removal purchase agreement valued at USD 10 Mn with Zurich-based Climeworks AG, a carbon dioxide air capture technology specialist. Read More>>
Munich Re signs digital transformation deal with HCL 
HCL will adopt a “glocal” strategy to support Munich Re’s global workforce in multiple languages from near-shore locations. It will also implement a highly personalized service desk solution and leverage the power of automation and self-service capabilities to improve efficiency and enhance employee user experiences. Read More>>
Life & Specialty Ventures and Cambia Health Solutions announce strategic collaboration 
The collaboration will improve the medical-dental care and financial wellbeing of the people and families navigating care. Cambia’s LifeMap ancillary insurance business will become part of Life & Specialty Ventures’ USAble Life ancillary insurance business. Read More>>
Amazon Web Services to transform Sun Life Financial’s digital services 
Sun Life will use AWS’s cloud technologies, including analytics, machine learning, storage, security, and databases, to drive operational efficiency and innovation to its clients and employees. Read More>>
Mergers and Acquisitions
Stewart Title acquired Informative Research for USD 192 Mn 
Stewart Title acquired over a dozen companies — including Cloudvirga, NotaryCam, Pro Tek Valuation Intelligence, United States Appraisals, and A.S.K. Services. In late 2020, Stewart acquired a significant number of Western U.S. operations from ET Investments and even expanded into Alaska with the acquisition of Yukon Title. Read More>>
Hub to acquire Aviva Canada subsidiary 
Hub International Limited has signed a purchase agreement to acquire the Aviva Canada subsidiary that provides a new home warranty in British Columbia and Alberta. Read More>>
Executive Movement
Aon Plc has given its reinsurance solutions business a further boost with the appointment of new regional leaders 
George Attard was named chief executive of reinsurance solutions in Asia-Pacific; in the UK, Rupert Moore; in Canada, Matt Wolfe; in the Caribbean, Steve Bonifacio; and, in Europe, the Middle East, and Africa (EMEA), both Alfonso Valera and Tomas Novotny. Jeremy Goodman, meanwhile, will serve as the unit’s president for APAC. Nick Frankland is taking on the role of UK president. For EMEA, co-CEO Alan Gregory is moving on to serve as the region’s chairman. Read More>>
Pacific Life Insurance Company appoints Darryl Button as CEO and President 
Darryl is responsible for the company’s finance, risk management, and corporate development functions, as well as Pacific Life’s investment organizations responsible for overseeing over USD 119 Bn in assets in Pacific Life’s general account. Read More>>

Latest Industry Insights from Draup Braindesk

Customer Support: Mobile phone insurance companies are enhancing customer experience and resolving issues through chatbots. 

Support Transformation: 

End-to-end Customer Interaction • Customer Support Chatbot • Voice-based Robo Advisors • Humanoid Customer Service Robots 

Call Center Automation • Call Analytics • Intelligent Call Routing • VR-based Customer Support • Customer ID Recognition using AI 

Customer Feedback • Automatic Feedback Handling • Feedback Analytics • Insurance Customer Segmentation 

Technical Support • Digital Insurance Cards • Insurance Applications 

Customer Support Case Studies: 

  • AXA Partners collaborated with Insurance2go to provide a range of quality products and to ensure complete peace of mind by enhancing the customer experience. 
  • Asurion partnered with uBreakiFix to expand their integrated network of virtual, mobile, and in-store experts across North America to provide customers with convenient device repair, replacement, and smart tech help services. 
  • Airtel collaborated with HDFC Life to offer an INR 249 prepaid bundle that includes INR 4 lakhs life cover from HDFC Life along with 2GB data, unlimited calls to any network, and 100 SMS/day to make insurance affordable and accessible for all. 
  • Fortrega collaborated with Mobi PCS to design a ProtectCELL mobile device protection program that includes cloud storage for up to 10 devices, remote locate, lock, wipe for missing devices, and identity theft support. 

Key Funding Alert

Kenko Health raises USD 1.7 Mn in Pre-Series A led by BEENEXT and Orios 
A Health Management Organisation (HMO) helps companies cover healthcare expenses and actively manage customers’ medical conditions, leading to better long-term health outcomes. Kenko will develop its product, specifically in the OPD space, and expand the core team. Read More>>

Startup Spotlight

Company – Rnwl 
Total Funding – USD 708.5K
About: Rnwl is an over-the-top insurance platform making insurance simple for consumers. The company reminds customers to renew their insurance, including switching between providers.Read More>>

Latest Reports Published in Draup

Nedbank Account Intelligence Report: Nedbank focuses on investing in innovations to embrace experience through technology and a superior business model. It intends to develop digital capable solutions that include various solutions and platforms. Read More>>
Argo Group Account Intelligence Report: Argo aims to improve customer experience and find better intake solutions with automated data extraction and processing of insurance documents to leverage the speed and accuracy of insurance data exchange. Read More>>
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