An insurance tech company urges insurers to start thinking carefully about potential threats to their existence from agile, digital players seeking a piece of the pie.
Catastrophe modeling firm KCC offers an early estimate of damage on islands in the region, while CCRIF extends payouts, Munich Re warns on profits, and security and relief efforts struggle.
Colombian financial services sector watchdog chief, Jorge Castaño Gutiérrez, says local players can embrace alternative sales channels to thrive in a market that will increasingly be impacted by new technologies.
Costa Rica's insurance industry was opened up to private players in 2008, following 84 years of state monopoly, although the sector is still dominated by state-run INS.
The insurance arm of local bank Bradesco showed strong financial resilience throughout Brazil's two-year long recession, according to Fitch Ratings.
Legislators have agreed on an ad hoc committee to consider proposals from all factions after months of political gridlock on the issue.
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.