In a striking display of financial prowess, Guinea Insurance Plc reported an impressive 49.4% increase in insurance revenue for the fiscal year 2023, underscoring a well-executed strategy in an increasingly competitive marketplace. This substantial jump saw revenue soar from ₦1.36 billion in 2022 t
Over recent years, brokers in the non-standard insurance market have faced increasing costs, particularly within the home and motor insurance sectors. Prestige Underwriting conducted a survey revealing that 70% of brokers noticed a growth in claims costs, with 31% admitting that the rise was more
Artificial intelligence (AI) is revolutionizing various industries, including the insurance sector, which has traditionally been slow to adopt new technologies. Historically seen as risk-averse and reliant on time-tested methods, insurers have often been hesitant to embrace innovations like AI.
Australia's largest insurance companies are facing mounting criticism for significantly raising premiums while posting record profits, leading to accusations of price gouging and contributing to inflation. In a climate where many Australians are already grappling with rising living costs,
In the second quarter of 2024, the U.S. commercial insurance market witnessed a marked deceleration in premium increases, representing a major shift in market dynamics largely propelled by the Council of Insurance Agents & Brokers' (CIAB) Commercial Property/Casualty Market Index for
Experiencing flood damage can be overwhelming, especially when you consider the financial impact and emotional toll it takes on homeowners. According to the Federal Emergency Management Agency (FEMA), even just an inch of water can cause as much as $25,000 in property damage, a staggering cost most
