The COVID-19 pandemic has pushed business leaders to rethink and reshape risk management for their organizations, from client relationships to updating their technology and claims process. As businesses begin to reopen, it is critical for businesses to continue developing their risk strategies and preparing for low-frequency/high-intensity events. #riskmanagement #risktech #insurtech #covid19 #businesscontinuity #businessresilience https://www.propertycasualty360.com/2020/06/03/how-covid-19-is-reshaping-risk-management/

The end or easing of coronavirus lockdown measures does not mean companies should expect operations to return to normal.

Researchers predict 18 to 22 named tropical storms will form in the Atlantic this year, with 3 to 5 expected to become major hurricanes. This continues the past years’ trends, but recent update indicates larger activity than expected earlier this year. While Covid-19 is occupying the minds of all risk managers, captive managers, and underwriters,…

As businesses struggle with new operational hurdles, insurers have a unique opportunity to develop and reinforce strong, lasting relationships with policyholders. Proactive support, leveraged with advanced analytics, is a key difference maker and will lay the groundwork for long-term growth. #riskmanagement #risktech #insurtech #covid19

The extreme toll of COVID-19, coupled with what will likely be a long tail in both geography and time, means that the the novel coronavirus will dramatically change how insurance companies price and model similar risk into the future. For private companies and underwriters alike, don’t assume there will be a return to ways of…

As companies begin to restart operations, risk managers must prepare plans to ensure a smooth transition across their organization. The last thing anyone wants is a major property or business interruption, and risk management practices have to be adjusted to mitigate potential disruptions in a post-#COVID19 world. Successful risk management starts and ends with a deep…

Companies who have invested heavily in risk management capabilities, including recruiting senior risk management roles and regularly using risktech/insurtech tools, are best poised to rebuild quickly on stronger foundations. If your company hasn’t, “It’s not too late for other business leaders to follow suit, and start building the resilient organizations of the future.” #riskmanagement #risktech…

Many of the world’s top investors, asset managers, and risk experts are focusing their resources on assessing climate risk and its impact on the businesses they invest in; it’s all in the data. Business leaders should be approaching their own company’s future operations the same way. Use Maptycs. #riskmanagement #riskmitigation #climaterisk

During this pandemic, business leaders need to draw upon their EQ as much as their IQ to guide their teams and companies with confidence. It’s easy to get lost in the chaos, but the true test of leadership is finding tranquility in turmoil. Maptycs provides peace of mind for risk and insurance professionals by finding…

Companies will need to prepare for a “major rethink… in how they organize their supply chains” in a post-COVID19 world, and risk managers will be crucial in leading and supporting their companies as they reflect and restructure how their global supply chains operate. During this Great Pause, risk and insurance professionals have an opportunity change…

An important reminder that climate risks are projected to worsen in the coming months even as much of our attention is on the coronavirus pandemic. While businesses are just beginning to understand and manage their response to COVID-19, it’s imperative to develop deeper risk management strategies for severe weather events concurring with pandemic response. #riskmanagement…

Building supply chain risk resilience begins with greater visibility throughout the chain, and as companies continue to digitize their records, those who start developing better practices early will be better poised to withstand serious disruptions. Maptycs leverages our propriety GIS platform with big data analytics to give business leaders both quick, wide-view snapshots and deep-dived…

Historical loss records alone are not adequate in assessing climate risk, according to Swiss Re. As the losses due to weather events continue to increase, “insurers need to adapt to a dynamic risk landscape by closely monitoring and incorporating socio-economic developments, the latest scientific research on climate change effects, and the status of local risk…

When considering insurtech for your company, it’s important to look for both insurance AND tech expertise. Brokers, risk managers, and underwriters have unique needs, and the tech you depend on must understand your work in order to effectively improve business processes. Maptycs was created by a team with 20+ years in the risk management and…

Risk managers and insurance professionals need to prepare for a greater number of thunderstorms, tornadoes, and hurricanes this summer and fall. Especially as businesses adapt to a post-COVID19 world, it is critical to thoroughly re-examine risk strategies and continuity plans to weather the storms. Maptycs provides the actionable insights necessary to ensure you are best…

There are still many questions surrounding how COVID-19 will affect business interruption insurance claims, and analysts are split on if/how claims will be honored as the pandemic continues. Both businesses and insurers should prepare for both possibilities and adjust their projections accordingly. #riskmanagement#insuranceindustry#insurancecoverage#covid19

Swiss Re’s report reminds us that climate change effects should remain a top priority for business leaders. Extreme weather events will likely continue driving rising losses, therefore private businesses and insurers should take proactive steps today to better understand, project, and plan around Nat CATs. Take steps to shore up P&C risks by using Maptycs…