Quote of the week: “The problem of maintaining business operations in an increasingly volatile and complex business environment calls for proactive, integrated solutions encompassing people, data and infrastructure.” Find the actionable insights hidden in your risk data and stay ahead of the rising volatility. #risktech #insurtech #riskmanagement
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
The lackluster response to catastrophes over the past few years, coupled with the ripple effects and conjoined risks related to Covid-19, are driving a more significant hardening of insurance markets. Brokers and risk managers must be aware of these shifts and adjust their risk management strategies to adapt to the new normal, utilizing new #insurtech…
Quote of the week from the Claims Innovation Virtual Conference: “Data is vital because you want to make informed decisions based on facts. Culture is key because culture is what helps you scale, and I believe that a culture of transparency and trust are foundational elements of any sustainable transformation strategy.” Bryant Vernon, CCO of…
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…
“While tropical cyclones often attract most focus given the high financial toll that landfalling events can incur, losses from ‘secondary’ perils cannot and should not be ignored.” – Aon Report 2020. More than half of insured losses have come from smaller secondary natural catastrophes, so breadth of risk preparation is as crucial as depth. Find…
With a record 9 named hurricanes already this year, and up to 6 major hurricanes projected by the end of 2020, risk managers and insurance brokers must manage ever rising CAT losses. As the year continues, businesses must take even greater steps to shore up their risk strategies and update rapid response plans around successes…
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
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: ““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
