I talk with Deborah McBrearty, Chloe Harmer, and Belinda Djamson in the most recent Insurance News Analysis on how data and artificial intelligence (AI) are more than just trendy terms; they are radically changing how insurers evaluate, forecast, and react to risk. The LA Wildfires’ Wake-Up Call In addition to being a natural calamity, the …
1.Should Bordereaux Be Buried Now? Excel’s Battle and Blueprint Two The industry is experiencing a surge of anxiety as Lloyd’s market approaches the implementation of Blueprint Two, particularly in relation to the continued widespread use of Excel-based Bordereaux management. These intricate, manually maintained spreadsheets have served as the link between brokers, underwriters, and coverholders for …
Supporting businesses that fall short of their climate pledges exposes underwriters to greater risks of fines, stranded assets, and damage to their reputation. Clients who embrace the green transformation, however, stand to benefit both financially and environmentally. Another record-breaking year for damages from climate-related calamities has already been reached in 2024. That is a wake-up …
However, many insurers are failing in spite of a growing trend toward digital innovation and customisation. 74% of consumers have canceled purchases because they felt overburdened, per Accenture’s Empowered Consumer 2024 research. Even worse, only 39% of consumers think businesses actually look out for their interests. Why, then, is there a disconnect? What can insurers …
1.The Industry’s Power Center Is the Aging Generation With the median age reaching 32 this year, the world is rapidly aging. Gen X (turning 60) is heading toward retirement largely unprepared, creating urgent demand for smarter retirement and longevity solutions. Insurers must go beyond typical offerings and establish comprehensive plans that integrate health, financial, and …
Swiss Re predicts that the global life insurance market would expand at a robust 3% a year, more than doubling the rate of the previous ten years. It takes audacious reinvention, more calculated risk-taking, and, to be honest, keeping up with a world that does not slow down to achieve that kind of development. These …
Having coverage is crucial, even if you are currently healthy. Without insurance, medical emergencies can occur at any time, and the expenses can mount quickly. How Does It Operate? You get into a contract with an insurance provider when you enroll in a health insurance plan. This could be an employer-sponsored plan, a government plan …
Soeren Soltysiak has been named Chief Executive Officer (CEO) of Asia Reinsurance Solutions, effective April 1, 2025. Based in Singapore, he will report to George Attard, APAC CEO of Reinsurance Solutions at Aon. In his new role, Soltysiak will oversee Aon’s reinsurance strategy across treaty, facultative, analytics, and operations. Prior to this, he served as …
The Risk: Burn and Fire Hazards Due to the possibility of overheating, 1.4 million Schneider Electric electrical panels are the subject of a significant safety recall. When these panels overheat, they can cause serious risks, including thermal burns, electrical fires, and serious property damage. These panels are essential for distributing energy throughout a facility. Affected …
Important Takeaways: For improved traction, use winter tires. Before you drive, make sure your car is free of ice and snow. Drive carefully by lowering your speed, keeping your distance, and avoiding abrupt moves. Keep winter necessities with you, such as an emergency kit, flashlight, blanket, and scraper. Although winter roads might be hazardous, you …