Worldwide, the average cost of a data breach reached an all-time...
Category:
Articles
Latest
Cyber Protection: Public-private action to bridge gap and boost resilience
Mario Greco, Group Chief Executive Officer, Zurich Insurance Group,...
Financing Climate Risks: Testing New Approaches
“Emerging market and developing economies face substantial...
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.
Building Indian Fintech & Cyber Security
We have the people, the talent and the capital to help create opportunities for Indian Fintechs to grow and test their Fintech products.We also have some of the friendliest regulation for FinTech’s globally.And since 2014, the Financial Conduct Authority has operated ‘Project Innovate’, with a regulation sandbox which has helped hundreds of firms from across the world get access to the market.
Unlocking value for P&C insurers : Advanced analytics may present a crucial way
-Insurers can grow, optimise existing portfolios and become more efficient using advanced analytics that combine data science, extensive risk knowledge and industry expertise
-In particular, commercial lines can catch up with personal lines, which currently use analytics more extensively, through exploiting the rapid explosion in the number and breadth of structured and unstructured data sources
-Insurers can target at least a 2-5% improvement in loss ratios under real trading conditions with use of advanced analytics
7 global trends making engineering & construction projects bigger & costlier than ever
Analysis by Allianz Global Corporate & Specialty (AGCS) of more than 13,000 engineering insurance claims over the last five years has identified seven major trends in engineering and construction projects, driving some of the largest losses ever, according to a new report by the insurer. The report also examines how new technologies, such as drones, satellites, lasers, and computer modeling, are increasingly being used to speed up claims and mitigate risks
Closing the infrastructure gap
Globally, there is a need to invest USD 69.4 trillion in infrastructure between 2017 and 2035, which amounts to USD3.7 trillion a year. Approximately USD43.7 trillion (63% of the global total) is required in emerging markets, with China and India alone accounting for USD 23.6 trillion (34%) and USD 5.6 trillion (8%) respectively.
Africa’s working-age population likely to top Asian labour force by 2100
The two most populous nations also are aging fast. By 2050, China and India will account for 31% of total population and 39% of the world’s seniors. Meanwhile both will see their share of the global labor force shrink. India’s working-age population is projected to peak around 2050, but 40 years later there will be fewer 15-to-64-year-olds than there are today.
WHO updates global guidance on medicines and diagnostic tests
“Around the world, more than 150 countries use WHO’s Essential Medicines List to guide decisions about which medicines represent the best value for money, based on evidence and health impact,” said WHO Director-General Dr Tedros Adhanom Ghebreyesus. “The inclusion in this list of some of the newest and most advanced cancer drugs is a strong statement that everyone deserves access to these life-saving medicines, not just those who can afford them.”
Time for your first Term Plan
Providing financial protection to your family often forms the basis and first step of financial planning. It is in this circumstance that a simple form of insurance called a Term Plan becomes very crucial. A term plan is an insurance tool that offers financial protection in the form of a sum assured to your family members if something unexpected happens.