Category: Thought Leadership

We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.

Insurers focus on ransomware, user authentication as biggest risks

The market for cybersecurity insurance coverage increased 61% in 2021 over the prior year, reaching $6.5 billion in premiums, according to the annual cyber insurance report issued by the National Association of Insurance Commissioners. Although cyber insurance carriers are struggling to keep up with demand, some digital insurance platforms and cybersecurity advisors are identifying the biggest risks that should be addressed.

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Will Insurers Be Connected to the Connected Car?

Today more cars than ever are connected, and those connected cars are creating and transmitting a lot of data. This in turn has created a gold rush among automobile manufacturers (aka OEMs), insurers, and others to find ways to monetize that data. For personal auto insurers the stakes and opportunities are greater than ever.

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3 ways data can help detect, prevent insurance fraud

According to the Coalition Against Insurance Fraud and its most recent report estimating the economic impact of insurance fraud in the U.S., the estimated yearly cost related to insurance fraud has increased from $80 billion in 1995 to $308 billion in 2022. That is a staggering number –that the consumer absorbs in the form of increased premiums – to the tune of around $3,700 per year for the average U.S. family.

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4 Key Principles for Becoming a Customer-Centric Digital Insurer

The insurance industry is traditionally slow to embrace shifts towards digital technology. But this is all changing now. Demanding customers have had their expectations are set higher by engaging with companies in other industries at the forefront of digital adoption. They experience personalised offerings and services and the ability to do online research and price comparisons before buying.

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We’re not shy to lean into property cat reinsurance: W. R. Berkley CEO

Commercial lines property and casualty insurance holding company, W. R. Berkley, has been making plans and positioning itself to take advantage of rising prices in the property catastrophe arena, with the company’s President and Chief Executive Officer (CEO), W. Robert Berkley, saying that it could become a meaningful part of what the firm does in the short run.

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