Digital Life Insurance. How Technology-First Insurers Solves Data Problems?
Awareness for life insurtechs among millennial active shoppers has climbed almost 30% in the last 12 months. And technology has matured
Awareness for life insurtechs among millennial active shoppers has climbed almost 30% in the last 12 months. And technology has matured
What is new is the rise of industries like insurance, finance, retail, and more getting into the metaverse. 30% of organizations will have services ready for Metaverse
Insurance fraud costs the UK an average of £1.2bn annually. In the last year, fraudulent home insurance claims increased by 45% and according to the 2022 Insurance Fraud
Costs for everything from food to healthcare to insurance premiums have increased in the past few years – especially after the 2020 lockdown
Traditional life insurance is no longer the primary business of many companies in the life insurance industry. The emphasis has shifted to underwriting annuities
Ransomware is a form of malware that is constantly evolving and is designed to encrypt files on a device, making all files and systems that depend on them unusable
What customers want and need, not what insurers want to sell or have always sold, will be the dominant driver of innovation and growth
When the worst happens, you want to know you’ve got one of the best, most reliable insurance companies around covering your home
The best auto insurance companies in each state provide liability, comprehensive, collision, PIP, and uninsured & underinsured motorist coverage
There are many types of vehicle insurance – and the laws, maximum levels of coverage, and definitions can vary from state to state
Pet insurance is a service for pet owners seeking a financial safety net in case their animal gets sick or injured and requires expensive veterinary treatment
For life insurance carriers, building the infrastructure to support a successful teaming model often requires a major shift in many of the mechanics of distribution
Insurance companies typically require that all licensed drivers in a household be listed on the auto insurance policy except unlicensed teenagers or younger members under 14
The impact on the insurance industry was noticeable: in 2020, premium growth slowed to approximately 1.2 percent
Rapid advances in technology, the continuing talent shortage and rising customer expectations for experiences of all types have disrupted the insurance industry
Life insurance is something that everyone needs, but in reality, far too few people have it. It’s easy to put aside the thought of buying life insurance when you’re young and healthy
2022 is the second consecutive year in which the estimated insured losses total more than USD 100 billion
The global insurance industry faces multiple pressures this year but we expect rate hardening to regain momentum in response
Responsible for managing insurer financials at public companies have spent five years preparing for the long-anticipated implementation of new accounting standards
For insurers, the main inflation impact will show in rising claims costs, more in non-life than life insurance in which policy benefits are defined at inception
Global merger and acquisition (M&A) activity remained robust through 2021, with 418 completed deals in the insurance sector, up from 407 in 2020
UK motor and home insurers expect to make largest annual loss in well over a decade this year, with further losses forecast in 2023
Many insurers around the world have taken significant steps to build an organizational infrastructure addressing the multitude of challenges posed by ESG
Forced virtualization of work during the pandemic has fueled revolutionary changes in employee expectations and upended many traditional employment models
While change has often come slowly in life insurance sector, a metamorphosis may be underway. The effects of the pandemic are lingering, consumer expectations are growing
Raising revenue hasn’t been an issue for most nonlife insurers, thanks to some of the highest property-casualty insurance rate increases posted in years
Necessity has indeed been the mother of reinvention for the insurance industry these past few years, as most carriers were remarkably adaptive
The global expansion of the professional sport industry combined with the varying type of its insurance needs, has resulted in the exponential growth of the sports insurance
Fire and explosion incidents cause the most expensive insurance claims in the marine industry, exposures and inflation, cargo damage is the most frequent cause of loss
By increasing cyber security, companies are less attractive to attackers. It is not commonplace for us to see clients with strong cyber maturity and security mechanisms
Cyber security has long been seen as an IT issue but today’s booming digital economy means this is no longer the case
Ransomware remains a top cyber risk for organizations globally while business email compromise incidents are on the rise and will increase further in the ‘deep… Read More »How Are Growing Cost of Ransomware Attacks Impacts for Insurance & Businesses?
Given cyber crime incidents are now estimated to cost the world economy in excess of $1trn a year – around 1% of global GDP – it is no surprise that cyber risk regularly ranks
Delivering personalised experiences and meeting consumer demands has been a key priority for insurers and insurtechs
Insurers have an opportunity to adopt business models that generate long-term value (LTV) for their customers, investors, employees and the wider community
Insurance is essential, but the premiums can add up quickly: healthcare, car, house, disability and life, to name a few.
Most successful insurance businesses and their distribution partners will be those who listen to their customers
A tech-inspired C-suite has largely driven digitization and core modernization strategies within the life insurance industry
Being an industry centred on computer technology, it should be of no surprise that cyber catastrophe models have developed in complete tandem with the cyber insurance market
Significant changes are ahead in AV and EV technology, and the Global car insurance market will need to adjust to the resulting disruptions
Autonomous mobility has the potential to dramatically transform the automotive insurance market, from underwriting to claims and beyond
The approximately $260 billion US auto insurance market is on notice. The conventional US insurance market, currently dominated by internal-combustion-engine (ICE) vehicles
Life insurers in continental Europe have been grappling with a combination of cost, regulatory, and interest rate challenges for much of the past decade
G20 business leaders are more focused on short-term economic concerns – like rapid inflation, debt crises, and the cost of living crisis – than on environmental and cyber risks
While the former insurance covers any damage or injury incurred by a third party in case of an accident, the latter insures the damage suffered by your car
While buying a health insurance policy for protection against cancer here are the main factors you should consider
In response to uncertainty around cyber risk, insurance providers have become more selective in their underwriting through better risk selection, lower limits, cyber insurance
95% of the P&I insurance market handled by EU and UK-based insurers, according to experts, it will be difficult for Russia to completely get around the ban
Risk management is the process of identifying, assessing and responding to/mitigating risk events. Organisations must understand the probability and potential severity of loss events
The resulting losses from a systemic cyber event could be very large, impacting companies, the broader economy and society at large
AM Best is revising its outlook for the German non-life insurance segment to Negative from Stable, mainly driven by uncertainty and significant changes
As one of the hottest topics in the insurance industry in recent years, corporate ESG matters now top the strategic agendas of senior business leaders
State of Cybersecurity Automation Adoption was conducted to build on the findings of a survey of senior UK cybersecurity professionals carried out
Early adopters of ecosystems in insurance demonstrate how to create near-term value and build a foundation for long-term success
Embedded insurance is fast becoming a favorite buzzword among insurtech entrepreneurs and insurance innovators
Life insurance market in China is set to grow at a compound annual growth rate (CAGR) of 6.3% from $484.4 billion in 2021 to $665.6 billion in 2026
Insurance customers, agents, and brokers have come to expect a certain type of experience based on daily interactions with modern technology platforms
Investors in ILS are seeking innovation—they may find it in Africa where a combination of transnational bodies, better data and a desire to structure improved disaster relief
Geopolitics, war, disruptions of supply chains and climate change can have a great impact on the re/insurance industry in China and emerging Asia
Pressures around data and technology, and increasingly complex regulation are forcing insurers to transform their tax and finance operations