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Mitsui Sumitomo Insurance will delegate to the AI 90% of administrative work

Japanese company Mitsui Sumitomo Insurance decided to entrust up to 90% of administrative work to artificial intelligence, freeing employees from performing routine tasks.It is noteworthy that the company does not plan to reduce staff and is going to transfer the vacated employees to the sales department.

The 12th edition of the "Insurance in Central Asia" International Conference announced for 14-16 April, in Almaty

The 12th edition of the "Insurance in Central Asia" International Conference will take place in Almaty, on 14-16 April, 2018, the organizers have announced. The event will comprise plenary sessions, open discussions and workshops.

LATVIA: The MTPL insurance line will most probably remain unprofitable also in 2018, despite increasing tariffs

The mandatory MTPL insurance line will probably remain unprofitable in Latvia also in 2018 despite the tariffs going up by a significant amount, Latvian Insurers Association's President Janis ABASINS believes, quoted by LETA.

Armenia: Compensation for OSAGO shows an impressive annual increase

ArmeniaInfo. The volume of accrued  insurance premiums for compulsory motor third party liability  insurance amounted to 13.9 billion AMD in the first 9 months of 2017,  an increase of 4.6% over the year, versus growth of 1.7% a year ago.  At the same time, the volume of insurance claims paid was 8.2 bln  AMD, with a sharp output of the annual dynamics from a 1.6% decline  to a 34.4% increase. This is evidenced by monthly reports published  by the Bureau of Motor Insurers of Armenia on OSAGO.

STATISTICS: Kazakhstan, 3Q2017: Total GWP up by 4.41%. Motor Hull, CARGO and financial losses classes saw a negative evolution

In 3Q 2017, the GWP of local insurance market have grown slightly by 4.41%, to KZT 289.23 billion. On the non-life insurance side, Motor Hull, CARGO and financial losses classes saw decreasing GWP volumes. 

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