Robert Muir-Wood,Chief Research Officer, Moody’s RMS Mitigation is...
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Embarking ESG: Changing Investment Paradigm
While the integration of ESG in the life insurance sector presents...
Dispelling Myths: Insurance Ideas
Insurance awareness doesn't stop at understanding the importance of...
Hackers target companies,posing as CEOs and other C-level Executives
A recent report reveals that 71 percent of all fraudulent transactions in the second quarter of 2018 came from mobile banking apps or more broadly used apps and platforms like Facebook Messenger and WhatsApp. By exploiting vulnerabilities in phone and message apps, hackers are expanding their reach
Is China winning the Insurtech Race
The funding gap between the US and China has become much smaller over the years: Whereas US insurtechs have raised EUR 5.8bn in total in 2018, total funding in China amounts to EUR 4.1bn – more than four times the European figure. The Chinese figure is even more amazing against the backdrop of the size of the Chinese insurtech landscape: Only 7% of the insurtech companies analyzed are located in China, but 55% are in the U.S. and 38% in Europe.
Insurers need profound transformation and the right talent, reveals EY Insurance Outlook 2020
Insurers agree that talent is the “secret sauce” to maximize returns on investments in technology, digital transformation and new business models. But with the industry struggling to attract the right talent, the report finds that insurers need to either reposition themselves as technology firms or proactively communicate on why the industry matters, what value it brings to society and the overall appeal of an insurance career.
5 risk trends company directors and officers need to watch in 2020:Allianz
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• “Bad news” events, impact of climate change, bankruptcies and political challenges have increasing risk implications for directors and officers (D&Os)
• Growth of securities class actions and third party funding globally means litigation against companies and their D&Os is on the rise. US, Canada and Australia see highest activity but these trends are developing around the world
• Profitability of D&O insurance sector impacted in recent years due to increasing competition, growth in lawsuits and rising claims frequency and severity. Further volatility anticipated
Watch Out Finance, Business, Tech Workers. Artificial Intelligence Is Coming.
AI is less likely to be able to take over in situations where relationships between people are key, which means men are more likely to be affected than women, Webb said in an interview. “Women are much more likely to be in occupations that require strong interpersonal skills,” Webb said in a phone interview.
Led by India and China,emerging Asia will power global growth:Swiss Re
The main engine of the global economy will be emerging Asia, with near 6% growth in both India and China. The contribution of insurance to resilience will be greatest in this region as well. In China, non-life premiums are forecast to grow by 9 per centin 2020, and life premiums by 11 per cent
Climate change: ‘Clear and unequivocal’ emergency, say scientists
“An emergency means that if we do not act or respond to the impacts of climate change by reducing our carbon emissions, reducing our livestock production, reducing our land clearing and fossil fuel consumption, the impacts will likely be more severe than we’ve experienced to date,” said lead author Dr Thomas Newsome, from the University of Sydney.
Safer skies but claims and risks grow
The report, which analyzes more than 50,000 aviation insurance industry claims worth more than €14.8bn ($16.3bn) from 2013 to 2018[1], reveals that collision/crash incidents currently account for over half the value of all claims (57%) equivalent to €8.4bn ($9.3bn) – and over a quarter of claims by number (27%). In future, more costly grounding incidents, business interruption incidents resulting from cyber and drone events, and more incidences of turbulence are just some of the trends expected to have an influence on the loss landscape, the report notes.
Kenyan farmers snap crops with phones to improve insurance payouts
“This project is trying to combine the information collected by farmers on their smartphones with satellite data. The combined data makes it easy to determine whether a farmer gets a payout,” said IDRC’s Njuki
Water crises ranked as the topmost risk in India:WEF
Fifteen of the world’s 20 most polluted cities are in India (where the issue ranked second), and Dhaka, Bangladesh (where it ranked eight),is also on the list. Pollution poses health and economic risks to these countries: Each year, Bangladesh loses approximately $6.5 billion and India $5 billion due to pollution and environmental degradation.