“Overlook the human element and the transformation initiative is destined to fail.”

“No matter what new technologies a company incorporates, processes revolve around people. Overlook the human element and the transformation initiative is destined to fail.” A “People First” approach is crucial to effectively unlock the potential of #insurtech adoption. Maptycs’ core design philosophy has always been building on how risk and insurance professionals actually work. #risktech…

Twice as many insurance executives identify technology as greatest need.

Twice as many insurance executives noted technology as their company’s greatest internal challenge compared to 2019. From providing greater value for customers to enhancing the capabilities of their teams, investing in #insurtech is a need – not a want – for risk and insurance professionals. https://www.linkedin.com/feed/update/urn:li:activity:6857037946739146752 #risktech #insuranceindustry

Effective risk management should be forward-looking.

Effective risk management should be forward-looking. Risk and insurance professionals must review exposure in real-time in order to rapidly respond to developing risk events rather than solely review replaying previous events. Take control of your risk exposure data with Maptycs’ real-time weather analytics and notifications to keep your portfolio protected. #risktech #insurtech #riskmanagement #insuranceindustry #riskanalysis…

A more holistic approach to climate risk.

For insurers and reinsurers, a firmer understanding of climate risks and opportunities is necessary to create a forward-thinking climate action strategy. A recent white paper by WTW and Wellington Management provides an 8-step guide in managing climate change, which involves more nuanced analytics of climate risk scenarios. #risktech #climatechange #climaterisk #insurtech #insuranceindustry https://www.linkedin.com/posts/maptycsriskmanagement_a-holistic-approach-to-climate-risks-and-activity-6854423605279821824-5BJr

Most all ratings agencies reevaluating risk analysis methodology.

Almost all rating agencies are reevaluating how they handle catastrophe risk, particularly related to property risk from climate change. With S&P Global already announcing a review of its methodology for insurer capital analysis, risk and insurance professionals should take extra steps to review their own portfolios with advanced analytics #risktech#insurtech#riskmanagement#climaterisk https://www.linkedin.com/feed/update/urn:li:activity:6854133015707230208