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Resilience Boosts Growth with Thorsten Mairhofer as Regional Head for Germany and Austria Expansion
Resilience, a leader in cyber risk solutions, has expanded into Germany and Austria, appointing Thorsten Mairhofer as regional head. This expansion aims to provide tailored cyber insurance and technology errors & omissions (E&O) coverage for businesses with revenues between €25 million and over €10 billion. Mairhofer, with extensive experience in cyber insurance, will help navigate the European market’s complexities. Resilience offers cyber insurance with limits up to €10 million, addressing increasing cyber threats. The company emphasizes a unique approach to managing cyber risks financially, which is vital as cyber attacks rise across Europe, helping businesses mitigate potential losses.
Africa Specialty Risks Unveils Groundbreaking Lloyd’s Consortium Focused on African Markets
Africa Specialty Risks (ASR) has launched Baobab, the first Africa-focused Lloyd’s Consortium, aimed at boosting insurance capacity in Africa and the Middle East. Starting January 1, 2025, Baobab offers up to $21 million in coverage across sectors such as political risk, trade credit, and construction. Led by ASR Syndicate 2454 with support from various Lloyd’s Syndicates, the consortium addresses a significant insurance gap in local economies, currently representing only 2% of the Lloyd’s market. ASR’s CEO, Mikir Shah, highlighted the importance of local expertise in unlocking opportunities and expressed gratitude to partners for their support.
HawkSoft and Sembley Join Forces to Streamline Insurance Submissions for Independent Agencies
HawkSoft, a leading agency management system provider for independent insurance agencies, has partnered with Sembley to improve the insurance submission process. This collaboration aims to reduce redundant data entry, enhance ACORD form accuracy, and allow agencies to focus more on client service. By integrating HawkSoft’s management system with Sembley’s automation platform, agencies can automatically pre-fill ACORD forms, improving submission quality and streamlining workflows. The partnership reflects a growing trend in the InsurTech market towards interconnected, efficient solutions. Both companies believe this integration will significantly benefit independent agencies by simplifying operations and enhancing client interactions.
Apollo and Moonrock Launch Expanded Drone Insurance Solutions to Capitalize on Surging Market Demand
Apollo has partnered with Moonrock to introduce drone product liability insurance, responding to the growing demand as drone usage rises across industries. As of March 2023, the UK had over 513,860 registered drone operators, with government initiatives pushing for commercial drone integration by 2030. The new insurance includes liability coverage for hobbyists and commercial operators, as well as legal liability for manufacturers, covering applications like agriculture, film production, and drone deliveries. This collaboration aims to provide innovative, flexible insurance solutions to support the evolving drone technology landscape, as highlighted by Apollo and Moonrock’s executives.
Declining Trust: Insurance Consumers Express Concerns Over AI Technology
The 2025 AI in Insurance Report by Insurity reveals a growing skepticism among consumers towards AI in the property and casualty insurance sector, with support dropping from 29% to 20%. Additionally, 44% are hesitant to engage with insurers that use AI. Positive experiences with AI also plummeted from 63% to 47%. Insurity’s Sylvester Mathis emphasizes the need for transparency and communication to rebuild trust. Generational attitudes show varying support, with Millennials and Gen X experiencing significant declines. Insurers can regain consumer confidence by educating them on AI’s benefits and sharing success stories to demonstrate its value.
Zurich Welcomes New Head of SME Division for Australia and New Zealand
Zurich Financial Services Australia has appointed James Garrett as the new head of small and medium enterprises (SME) for general insurance in Australia and New Zealand, emphasizing its commitment to enhancing SME offerings. Garrett, with over 12 years at Zurich, previously managed a significant SME portfolio and focused on digital solutions. His leadership will prioritize digital transformation and broker engagement. This move coincides with Theo Pitsikas’s promotion to oversee SME strategies across the Asia-Pacific region. Effective June 16, 2025, these appointments aim to strengthen Zurich’s presence and competitiveness in the SME insurance market.