Apr 7, 2021

PIB Group to expand its retail insurance presence to Ireland

PIBGroup
Creane&Creane
retailinsurance
Zego
William Girling
2 min
PIB Group’s acquisition of Creane & Creane marks a new milestone as its first foothold in the Irish retail insurance market
PIB Group’s acquisition of Creane & Creane marks a new milestone as its first foothold in the Irish retail insurance market...

When InsurTech Digital spoke with PIB Group in September 2020, CIO and COO Paul Johnson made it clear that a fast-paced expansion campaign was in development.

Since that time, his words have been demonstrably validated: the company has made seven further acquisitions, including WDB in Poland. With Creane & Creane marking the second Ireland-based acquisition - after Optis Insurance - PIB Group’s ambition to push further into the European market is clear.

“I’m so pleased to extend the PIB arm around our new colleagues at Creane & Creane. This is a fantastic business with an amazing history, brilliant people and strong client base,” stated Brendan McManus, CEO of PIB Group. 

“It didn’t take us long to recognise the strength and brand presence that they have built over many decades, which made them an obvious choice for our first retail brokerage business in the Irish market.”

UK insurance: Risk or opportunity?

The effects of COVID-19 on the UK insurance industry were made clear when Lloyd’s published its 2020 full year results

Despite making gains in underwriting and premium rates, the insurance giant recorded an aggregated market loss of £900m. Furthermore, the pandemic caused £3.4bn in specific losses and total customer payouts are expected to reach £6.2bn.

The ongoing effect of Brexit on the UK industry and its competitiveness also remains an open question - will the opportunities for regulatory change ultimately benefit consumers or create previously absent friction?

Rising insurtechs like Zego gained an EU broker license to mitigate transition issues in the short-term, yet PIB Group’s European expansion appears to show no signs of slowing. Indeed, McManus indicated that Ireland would be a core focal point for its interests:

“We want to focus on Ireland becoming a key territory for PIB, with ambitions to grow both our retail and wholesale footprint through further acquisitions. Creane & Creane are an obvious starting point to help us make a mark on the Irish retail market.”

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Jun 16, 2021

Tribe and APOLLO announce national insurance campaign

Tribe
Apollo
campaign
Insurance
2 min
Tribe Property Technologies and APOLLO Insurance have launched a campaign to digitise insurance access across Canada

Tribe Property Technologies in partnership with APOLLO insurance has announced a national insurance campaign to digitise insurance for condominium owners, renters, landlords, and developers across Canada. The aim of the campaign is to make insurance access easier and faster for owners while improving the coverage and protection of condominiums and rental buildings.

According to several surveys, nearly half of 4.5mn rented houses in Canada do not have tenant insurance protection, meaning those individuals and their families are put at risk of fire and water damage. 

What does the national insurance campaign include? 

According to Tribe, the company is working with APOLLO to ensure that this type of insurance is easier to access. It aims to achieve this by introducing a direct connection to APOLLO's insurance technology from both Tribe's strata and condo management platform and rental software to allow for increased education and awareness for owners into insurance risks and options. 

It also includes the future ability for notifications for mid-term cancellations, and plans to offer protection from potential strata/condo corporation deductibles, Tribe said. 

"We are excited to partner with APOLLO to bring accessibility, visibility, and education around insurance options to our communities and reflect the current lifestyle expectations of condo owners and residents while protecting the value of their biggest assets", said Joseph Nakhla, Chief Executive Officer of Tribe. 

Nakhla added: “This agreement with APOLLO is just the first step under our Digital Services & Partnerships revenue pillar. We will continue to layer on services to drive revenue for Tribe, and bring convenience and savings for our users, with the goal of being able to offer a one-stop-shop to our development partners and the over 100,000 residents in Tribe-managed communities”.

APOLLO uses technology as a channel between insurance brokers, carriers, and their mutual clients, offering insurance options from multiple companies on one integrated online platform.

"We like that Tribe is taking a fresh approach to condo living and building smart homes through tech-enabled service, and an integration with their Community Platform supports our goals of making insurance more accessible and supporting the needs of communities”, said Jeff McCann, Chief Executive Officer of Apollo.

 

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