Consumers across the globe desire humanized experiences when navigating the insurance industry

Duck Creek Technologies launches the second edition of the Global Consumer Insurance Insights survey of over 2,000 global consumers, aimed at refining the strategies that bring insurers closer to consumers worldwide

Boston / London, May 09, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has proudly published its second annual benchmark survey, the 2023 Global Consumer Insurance Insights. The survey reveals strong demand from global consumers for humanized insurance purchasing, switching and communication experiences through digital channels.

The 2023 wave of research – which is being launched at the Duck Creek Technologies Formation ‘23 event for customers and partners from May 8-10, was conducted independently by Research in Finance for Duck Creek Technologies and surveyed over 2,000 policyholders across 13 countries, all of whom held at least one insurance policy.

Aimed at refining the strategies that bring insurers closer to consumers worldwide, this year’s survey is more extensive than the inaugural 2022 edition, with more questions and responses from policyholders across more countries. The survey provides insights for carriers, reflecting consumer preferences and awareness of innovation opportunities, purchasing, and communication methods.

Key findings from the survey include:

 

  • 93% of consumers are confident they have the proper coverage, irrespective of which channel they used to purchase the insurance policy.
  • Once a policy is in place, 44% of consumers prefer human interaction (2022: 35%). At the same time, however, interest in app/WhatsApp usage for buying and switching insurance also increased year-over-year.
  • 46% of global consumers are unaware of embedded insurance. Of those who were aware (37%), almost half said they trust it because of product or retailer quality. Those who do not trust it (26%) find embedded insurance unnecessary and expensive. Those who are unsure (29%) require more information, having had little experience with embedded insurance.

The survey reveals significant positives for insurance providers and clearly shows they are getting it right in many areas. However, it also highlights areas where insurers must reflect and improve further – including bolstering global consumer confidence and trust in insurance.

According to Jess Keeney, Chief Product & Technology Officer at Duck Creek, “As the insurance industry continues to evolve, it is crucial for providers to listen to the needs and preferences of their customers. The 2023 Duck Creek Technologies benchmark survey provides invaluable insights into consumer behaviors and trends, highlighting the areas where insurers can maximize accessibility, accelerate speed to market, and differentiate competitively.”

While the survey shows that carriers around the world are responding quickly to consumer demand for more relevant and timely products and services, it also reveals that a significant number of consumers prefer a humanized experience when interacting with their insurance providers. This emphasizes the importance of exploring ground-breaking and varying communication options to meet the needs of diverse customers.

Keeney adds, “It is encouraging to see that despite the challenging economic environment, people are re-evaluating their insurance needs and considering a wider range of products. Mobile and gadget insurance, travel insurance, and embedded insurance are being purchased more frequently than other types of insurance.

Duck Creek’s 2023 survey is a vital resource for insurance providers, offering unique insights into customer perceptions and highlighting the next opportunities for innovation. We urge providers to delve deeply into the results and continue pushing the frontiers of the insurance industry forward.”

Research in Finance Head of Research, Karen Scott, added, “In the insurance industry, listening to consumers is essential for success. As the Global Consumer Insurance Insights Survey 2023 demonstrates, primary research capturing changing behaviors, user feedback, and satisfaction is invaluable to help inform insurance company strategies, new product development, marketing, and communications plans. Insurers now have access to significant data sets to compare year-on-year, creating a true benchmark series of reports we are proud to support. Ultimately, insurers who prioritize listening to and understanding their consumers will come out on top.”

The 2023 Global Consumer Insurance Insights Survey highlights four key calls to action for insurers:

  1. Maximize accessibility of insurance products to consumers across channels
  2. Accelerate speed to market with the SaaS model
  3. Humanize the consumer experience through digital channels
  4. Leverage the SaaS ecosystem to differentiate competitively

Download the 2023 Global Consumer Insurance Insights Survey here.

About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Drake Manning
Duck Creek Technologies
+1 860 877 3609
drake.manning@duckcreek.com
GlobeNewswire Distribution ID 8833259

Mosa Meat Prepares for Market Entry by Opening Largest Cultivated Meat Campus in the World to date and Working with Two Michelin-starred Chef Hans van Wolde

MAASTRICHT, The Netherlands, May 08, 2023 (GLOBE NEWSWIRE) — Mosa Meat, the pioneers in the cultivated meat space that grow beef directly from animal cells, opened a new 2,760 square metre (29,708 square feet) scale-up facility in Maastricht on Monday. This fourth facility completes the new Mosa C.A.M.P.U.S. or Center for Advanced Meat Production, Upscaling, and Sustainability for a total footprint of 7,340 square metres (79,007 square feet).

Monday’s program included a ribbon cutting ceremony with the Mayor of Maastricht Annemarie Penn-te Strake, the Governor of Limburg Emile Roemer, and the Mosa Meat team, a cultivated burger cooking demonstration by Chef Hans van Wolde, and tours of the new facility. A select group of 50 investors, journalists and value chain partners from around the world attended the event. The new facility will start the first production runs in a matter of days.

Mosa Meat CEO Maarten Bosch said: “As this scale-up facility comes online next month, we will have the capacity to make tens of thousands of cultivated hamburgers. The facility is designed to grow as demand increases with regulatory approvals and regional market entries, up to hundreds of thousands of cultivated hamburgers per year. And in combination with our contract manufacturer in Singapore, even a lot more. We are excited to debut this great tasting hamburger today that even hardcore carnivores will love.” 

Mosa Meat Co-founder & CSO Dr. Mark Post said: “When we introduced cultivated meat to the world, we predicted it would take 10 years to create a consumer product. Now, almost exactly 10 years later, we have a consumer product that we can start making in larger quantities and that we can start serving to consumers in Singapore, pending regulatory approval” said Mark Post, co-founder and Chief Scientific Officer of Mosa Meat.

Chef Hans van Wolden said: “When I first tried a Mosa Burger as part of the internal development team, I was blown away by the beefy taste and the amazing mouthfeel of the beef fat. It gave me goosebumps. I genuinely believe this new way of making beef can delight connoisseurs and casual beef lovers alike, while enjoying the positive benefits of cultivated beef from a sustainability perspective. I am excited to work with the Mosa Meat team to make future versions even better. 

ABOUT MOSA MEAT

Mosa Meat is a global food technology company pioneering a cleaner, kinder way of making real beef. Our founders introduced the world’s first cultivated beef hamburger in 2013, by growing it directly from cow cells. Founded in 2016, Mosa Meat is now scaling up production of the same beef that people love, but in a way that is better for people, animals, and the planet. A diverse and growing team of 165 food-loving problem-solvers, we are united in our mission to fundamentally reshape the global food system. Headquartered in Maastricht, The Netherlands, Mosa Meat is a privately held company backed by Blue Horizon, Bell Food Group, Nutreco, Mitsubishi Corporation, Leonardo DiCaprio and others. Follow Mosa Meat on Facebook, LinkedIn, Twitter and Instagram or visit mosameat.com to learn more about why people #cravechange.

For more information, reach out to press@mosameat.com.

Visual assets from the event will be loaded here by 17:00 CET on May 8th

https://drive.google.com/drive/folders/181Qd14IJ9QD55SfwarnohvzO5-rjxtHf

The general Mosa Meat press kit is here:

https://mosameat.com/press-kit

ABOUT CHEF HANS VAN WOLDE

Chef Hans is a Dutch 2-Michelin star chef who converted an old farmhouse outside Maastricht into his restaurant Brut172. Previouslyhe was the chef owner of 2-star restaurant Beluga in Maastricht and has been featured on TV shows like MasterChef and Snackmasters. He has formally joined Mosa Meat’s product development, sensory evaluation and recipe formulation team to complement Mosa Meat’s internal team of food scientists.

www.brut172.com

Attachments

Tim van de Rijdt
Mosa Meat
press@mosameat.com

GlobeNewswire Distribution ID 8834249

MCB Arif Habib Savings and Investments Announces Daily Dividend Distribution for ALHAMRA DAILY DIVIDEND FUND (ALHDDF)

Karachi, MCB Arif Habib Savings and Investments Limited, the management company of ALHAMRA DAILY DIVIDEND FUND (ALHDDF), has declared a daily dividend distribution for unit holders. The Chief Executive Officer, on behalf of the Board of Directors, approved the payout, which will benefit the unit holders whose names appeared in the unit holder register at the close of 09-MAY-23.

According to the announcement, a dividend of Re. .0483 per unit will be disbursed to eligible unit holders. This distribution reflects the commitment of MCB Arif Habib Savings and Investments Limited to provide regular returns to its investors.

Modaraba Al-Mali Announces Right Issue and Book Closure

Karachi, Modaraba Al-Mali has announced its decision to issue further capital through a right issue. The Board of Directors reached this resolution during their meeting held on March 29th, 2023. The right issue entails offering 11,392,970 modaraba certificates at a price of Rs. 10/- per certificate, totaling Rs. 908,169,150/-.

Under this offering, shareholders will have the opportunity to purchase 14.34 right modaraba certificates for every 100 existing modaraba certificates they hold, each valued at Rs. 10/-. These newly issued certificates will enjoy equal rights and privileges as the existing certificates.

To facilitate this process, the Share Transfer Books of Modaraba Al-Mali will be closed from May 23rd, 2023, to May 29th, 2023, inclusive. During this period, shareholders will have the opportunity to subscribe to the right modaraba certificates by paying the subscription price to the Modaraba.

Investors and shareholders are encouraged to stay updated with further announcements from Modaraba Al-Mali regarding the right issue and take advantage of this opportunity to participate in the company's future growth prospects.

Kohat Cement Company Limited Repurchases 156,793 Shares in Buy-Back Scheme at an Average Price of PKR 149.7

Karachi, Kohat Cement Company Limited has successfully repurchased a substantial number of its own shares through the Pakistan Stock Exchange Limited. The buy-back initiative, which was authorized by special resolutions passed during the extraordinary general meeting held on February 21, 2023, signifies the company's confidence in its future growth prospects.

On May 9, 2023, Kohat Cement Company Limited executed the purchase of 156,793 shares as part of its buy-back program. The company acquired the shares at an average price of PKR 149.7 per share, demonstrating its commitment to investing in itself and enhancing shareholder value.

The decision to buy back its own shares reflects Kohat Cement Company Limited's belief in the underlying strength and potential of the company's operations and assets. By repurchasing shares from the open market, the company aims to optimize its capital structure, capitalize on favorable market conditions, and effectively manage its cash position.

Kohat Cement Company Limited's buy-back of its own shares exemplifies its long-term vision and commitment to creating value for its stakeholders. With this proactive approach, the company aims to fortify its market position and sustain its growth trajectory in the competitive cement industry.

UBL Fund Managers Announces Interim Distribution for Al-Ameen Islamic Cash Plan-I

Karachi, UBL Fund Managers Limited, under the authority granted by the Board of Directors, has approved the interim distribution for Al-Ameen Islamic Cash Plan-I, a part of Al-Ameen Islamic Cash Fund.

The Chief Executive Officer has announced an interim cash dividend of Re. 0.0516 per unit, equivalent to 0.05% of the investment, for the period ended May 09, 2023.

The entitlement for the interim distribution will be credited to the unit holders whose names appeared in the register of unit holders at the close of business on May 09, 2023.

Al Habib Asset Management Announces Interim Distribution for Al Habib Funds

Karachi, Al Habib Asset Management Limited, under the authority of the Board of Directors of Al Habib Asset Management Limited, has approved the interim distribution for the following funds for the year ending June 30, 2023.

Al Habib Money Market Fund: Interim Distribution of Rs. 0.0576 per unit (0.0576% of NAV)

Al Habib Islamic Cash Fund: Interim Distribution of Rs. 0.0494 per unit (0.0494% of NAV)

The above entitlement will be paid to the unit holders whose names appeared in the register of unit holders on May 10, 2023.

MCB Arif Habib Savings and Investments Announces Daily Dividend Distribution for Alhamra Islamic Money Market Fund

Karachi, MCB Arif Habib Savings and Investments Limited, the management company of Alhamra Islamic Money Market Fund (ALHIMMF), has announced the daily dividend distribution for unit holders. The Chief Executive Officer, acting on behalf of the Board of Directors, has approved the payout.

According to the announcement, a dividend of Re. .0506 per unit will be paid to the unit holders whose names appeared in the unit holder register at the close of business on May 9, 2023.

Lakson Investments Announces Interim Distribution for Lakson Money Market Fund

Karachi, Lakson Investments Limited, the Management Company of Lakson Money Market Fund, has announced an interim distribution for the period ended May 08, 2023. The Chief Executive Officer, with the authority granted by the Board of Directors, has approved the distribution.

The interim distribution amounts to PKR 1.9831 per unit, which is equivalent to 1.9831% of the par value of PKR 100. This distribution is in addition to the previously paid/distributed interim distribution of PKR 11.3334 per unit, which accounted for 11.3334% of the par value of PKR 100.

The entitlement for the interim distribution will be allocated to the unit holders whose names appeared in the register of unit holders of the Funds as of the close of the business day on May 09, 2023.

United Bank Limited Announces Interim Distribution for UBL Special Savings Plan V

Karachi, United Bank Limited (UBL) has announced an interim distribution for UBL Special Savings Plan V, a part of UBL Special Savings Fund. The Chief Executive Officer, acting under the authority granted by the Board of Directors of UBL Fund Managers Limited, has approved the distribution.

The interim cash dividend for the period ended May 9, 2023, has been set at Re.0.4493 per unit, equivalent to 0.5% of the investment. This distribution aims to provide returns to the unit holders of UBL Special Savings Plan V.

To be eligible for the interim distribution, unit holders must have their names listed in the register of unit holders as of the close of business on May 9, 2023. The distribution amount will be credited to the accounts of the entitled unit holders.