NYDFS orders domestic and foreign insurers to incorporate climate risks into processes for first time.

The New York Superintendent of Financial Services ordered both domestic and foreign insurers to “start integrating the consideration of the financial risks from climate change into their governance frameworks, risk management processes and business strategies,” underscoring a global shift to greater focus on climate risk analysis. Brokers and risk managers must adjust and adapt to…

WHO warns of a second COVID-19 pandemic surge.

The WHO’s warning of a second COVID-19 pandemic surge underscores the importance of constantly updating and adjusting risk strategies as new information comes forward. Geospatial risk monitoring is critical to respond quickly to rapidly changing protocols and circumstances. #risktech #insurtech #riskmanagement #covid19 #coronaviruspandemic

CFTC recommends greater guidelines for climate risk reporting by companies.

The United States’ Commodity Futures Trading Commission (CFTC) first-of-its-kind report encouraged greater guidelines dictating how companies report the climate risks they face. With the west coast wildfires continuing with an above-average hurricane season, businesses should prepare now to revamp how they track and share their climate risk management strategies. #risktech #insurtech #riskmanagement #climaterisk

Quote of the week: “support our clients”

Quote of the week: ““In these unprecedented times it’s more important than ever to support our clients with risk knowledge, capital strength and tailored solutions.” – Swiss Re:#insurtech #risktech #riskmanagement #riskanalytics #propertyandcasualtyhttps://www.intelligentinsurer.com/news/swiss-re-expects-further-market-hardening-in-year-end-renewals-23406

A Major Roadblock to Digital Transformation: Legacy Platforms

A recent survey shows that more than one-third of CFOs have prioritized digital transformation following the Covid-19 pandemic. However, one major roadblock persists: “Legacy platforms make significant cross-functional changes difficult to execute.” Overhauling risk management strategies require a platform designed for cross-functional communication. Maptycs is optimized for global teams to quickly gather, analyze, and share…