Winfried Heinen of Germany's General Reinsurance says insurers should not overreact in the face of threats posed by agile new tech companies - but instead hold their ground, innovate and get closer to their customers.
The company is launching CrashBoxx, which consists of a device that is placed in the vehicle, coupled with software that sends detailed incident reporting, including instant crash alerts with details of severity, delivered via email or text.
The Caribbean Development Bank has authorized multiple loans and grants to help with Irma relief efforts, The UK, France and Holland are stepping up relief and security efforts, cracking down on looting.
In order to diversify income, the insurance company is seeking to attract non-clients to its auto repair service.
Delegates at the LIMRA-LOMA Latin American insurance conference in Santiago were told the region's economy was picking up - but were also urged to devise battle plans for a number of major challenges.
Insurers can also help prevent people from falling into poverty by reducing out-of-pocket spending on and improved utilization of healthcare services, the insurer said in a report.
The insurance company will this month provide coverage for a large number of concerts with international artists and bands.
The local insurance regulator has suspended the operating licenses of 745 individuals and firms that acted as insurance brokers, reports Panamanian daily La Prensa.