Lower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini…
Year-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The…
Just shy of a third of executive mobile devices were exposed to network attack during the second quarter of 2016 and almost as high a percentage were infected with malware, leaving valuable, sensitive data vulnerable to cyber criminals, notes a…
Almost three-quarters of consumers taking part in a Bain & Company Inc. survey say they would value a platform for providing services well beyond insurance coverage, opening the door for insurers to transform themselves from just sellers into solutions providers.…
Almost two-thirds of surveyed large and medium-sized organizations in the United Kingdom do not conduct or estimate the financial impact of a cyber attack, notes a new report issued Monday by Marsh. Despite a 56% rise in boardroom ownership of…
The use of unmanned aircraft systems (UAS) is set to soar south of the border — expected to triple the number of manned aircraft by year’s end — producing new risks that will require insurers to adopt a new view,…
There is an apparent gap between polled U.S. drivers who are open to taking part in usage-based insurance (UBI) and those who are provided the opportunity to do so, suggest survey results released today by LexisNexis Risk Solutions. That disconnect…
While the vast majority of surveyed insurance executives and InsurTech professionals in the United States are engaged in redesigning the customer experience, two-thirds do not have a full grasp of how evolving digital ecosystems can impact customer acquisition and customer…
Surviving homes in otherwise decimated neighbourhoods of Fort McMurray hit by this spring’s massive wildfire were more resistant to ignition by embers, notes a preliminary report issued by the Institute for Catastrophic Loss Reduction (ICLR). Home survival is not random…
Property and casualty insurers in the United States have witnessed favourable rating activity in the first half of 2016 compared to a negative prior-year trend, notes a new special report from A.M. Best. Reversing what was seen in 2015 H1,…
The global market for professional indemnity (liability) insurance is on track to climb from its 2015 total of approximately US$36.2 billion in gross written premiums (GWPs) to US$40.5 billion by 2019, Finaccord reported Wednesday. Of the 2015 premium total, the…
Despite a surge in kidnappings off West Africa, piracy and armed robbery at sea has fallen to its lowest levels since 1995, notes a new report issued Monday by the International Chamber of Commerce’s International Maritime Bureau (IMB). There were…