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Daily Digest: New Allianz strategic plan, UK moves to cut ILS taxes, Focus on technology
Catch up on the essential news and analysis from the Insurance Day experts
Louisiana insurers face $100m assessment for local insolvencies
Admitted insurers will need to pay 1% of their 2020 net written premiums, following collapse of Access Home Insurance and State National Fire Insurance
Focus: Realism, as much as new technology, will ensure London's future
It is crucial to understand the limitations of technology metrics and algorithms in a specialty environment that lacks homogeneity between risks, even within the same class of business
Focus: London must integrate technology with client-facing side of market
As the market looks to have a more technology-led dialogue with clients, the broker has a central role in raising the issue of accurately sourced and standardised risk data
Focus: Enhanced management of data is critical to MGA value proposition
MGAs that are able to break down data silos and mobilise technology to deliver a differentiated broker and customer service will be the ones to prosper
ID Comment: Technology and smart underwriting key to MGA success
With the right elements, MGAs can extract value where other players would struggle to succeed, industry experts say
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