Insurance industry is more customer-centric than ever before, and insurers need to adopt emerging technologies to meet demands.

Insurance customer expectations are always evolving, and brokers must take advantage of the predictive analytics from emerging insurtech to meet the needs of the more customer-centric industry. Staying ahead of the curve, both in understanding data and in understanding customers’ needs, is crucial now more than ever. #insurtech #risktech #insuranceindustry #riskmanagement

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