Insurance news from MMI shows coverage laps rates will be increasing

Insurance news reports on cancelled policy trends

The third largest life insurer in South Africa has warned that this trend may be on the way. MMI Holdings, South Africa’s third largest life insurer, has released an insurance news announcement to warn the sector about a potential increasing lapse rate trend as consumers begin to feel the strain of trying to keep up their premiums payments. This trend refers to the cancellation of policies as the result of premiums nonpayment issues. The CEO of MMI Holdings, Nicolaas Kruger, explained that consumers are feeling a significantly larger amount of…

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Satmetrix benchmark study reveals loyalty leaders in American insurance industry

Net Promoter software company, Satmetrix, which is the customer experience program marketplace leader, has released its 2012 Net Promoter Industry Benchmarks for 22 different industries, including the insurance sector. As a whole, the study was broader than it has been in previous years, involving the participation of over 30,000 American consumers who provided their rating feedback about over 200 brands across the various industries. The benchmarks that it creates are based upon the survey responses from consumers across the United States who rated their various experiences with the top brands…

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Insurance industry sheds jobs in some sectors while adding to others, according to III report

The Insurance Information Institute (III) has released a new report drawing upon data from the U.S. Department of Labor. The report touches upon the volatility seen in the property/casualty insurance business in October of this year. According to the report, the property/casualty sector performed poorly in terms of employment while other sectors saw promising growth. Overall, the report highlights the turbulent year the insurance industry has faced as a whole and suggests that the trend can continue throughout next year depending on the economic climate. The III notes that 900…

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New insurance group targets life and medical insurance in Qatar

Q-Life & Medical, a newly formed insurance group based in Qatar, has targeted a promising market in the region. Initially part of Qatar Insurance Co., Q-Life & Medical was formed around the need for life and medical insurance in the nation. According to company officials, the market for life and medical insurance in Qatar is untapped, which translates into a unique opportunity for tremendous growth. Whether the company can capitalize on this potential growth, however, is yet to be seen. As of now, the company is not offering any insurance…

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