Global Sports Insurance Market Outlook: $600 bn by 2025
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
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
Insurers are confronting a new environment, in which disruption from the COVID-19 pandemic presents both short- and long-term challenges and opportunities
Rising interest rates and a weakening economic picture affecting pricing and demand is setting insurers for low premium income growth in 2023
Amongst the growing number of challenges facing insurers is the important – yet often overlooked – consideration of foreign exchange (FX) risk management
Insurance Brokers need to stop expecting customers to pick up the cheque for their inefficiencies” is a statement I’ve found myself making more and more in recent months
Widespread inflation and increasing healthcare utilization are combining to drive projected increases in global healthcare benefit costs to their highest level in nearly 15 years
Ransomware attacks are on the rise in the United States and local counties are scrambling to keep their cyber systems insured
Using low-code configuration tools, insurers can establish a set of base products which can be used as the foundation for product variations in order to tailor coverage
Scammers often use deceptive tactics to lure unsuspecting seniors into sharing their Medicare number. They might offer to send free medical supplies or genetic testing kits
Insurers in Florida are currently barred from non-renewing or canceling policies, under an emergency order issued by the state’s Insurance Commissioner
Insuramore’s recently published ranking for the global auto (motor) insurance market shows that its GDPW rose to around USD 822.5 billion
The pricing of cybersecurity insurance is similar to pricing property and casualty (P&C) or liability insurance. Insurance is based on an event not happening
Cyber risk has become one of the top risks on risk managers’ radar given its increasing incidence rate and impact
The risk of a prolonged Russian invasion of Ukraine will further complicate the resolution of aircraft leasing insurance claims which would take years to settle
Female millennials are often left out of the insurance conversation. In a world striving for financial equality, solving this problem is critical, and from a commercial perspective
The frequency and severity of cyberattacks are ever increasing. Data breaches to steal personal information occur daily, but only the largest make the news
Cyber risk is a major driver of operational risk and that businesses and individuals are looking to the insurance industry to provide coverage for the cyber risks they face
A resilient portfolio construction, liquidity management, and integrated technology are becoming the focus of global insurers as they work on innovating investment approaches
The nationwide homeowners insurance giants in the U.S. have some of the highest level of catastrophe exposure to hurricane Ian, which is currently forecast to reach Florida
The total cost of insurance fraud is estimated to be more than $40 bn per year. That means Insurance Fraud costs the average family between $400 and $700 per year
Global commercial P&C (non-life) insurance market, 145 insurer (carrier / underwriter) groups had GDPW in this category of more than USD 1 billion
For the digital asset market, insurance has proved something of a conundrum. As the sector has surged in value, the need for coverage has grown, but it has not proven easy
Blockchain continues to be a hot topic in the business world and news. Many people have heard of blockchain but may not be familiar with what it actually is
What does pet insurance cover? It depends on the type of policy you go for, but as well as veterinary treatment for accidents and/or illnesses policies
Сlaims determinations under cyber insurance are particularly susceptible to insurers arguing that they did not intend to cover a type of claim
The digitisation of claims management is a fundamental aspect of a modern and robust insurance operating model – but many insurers are still limited to using legacy systems
As insurance carriers modernize their core platforms and other technical underpinnings, they would be remiss to ignore how industries like banking have approached change
The insurance industry is often described as “recession proof” but it’s definitely not inflation-proof. We’ll try to cover the what, why, and how of inflation