Thought Leadership

A shift toward greater corporate and social responsibility and empathy in general is underway, and 2021 will bring a great global reset.

Any requirement, process, delay or regulatory cost that does not serve insurer solvency or consumer protection should be on the table for retirement.

Sustainability ecosystems enable insurers to call on the resources and skills of a network of partners committed to building a sustainable future.

Insurance can act as a key tool in addressing pervasive cybersecurity vulnerabilities, but, according to one report, “Cyber insurance is not yet mature enough to fulfill its potential, partly due to uncertainty about what kinds of cyber risks are, or can be, insured.”

For insurers that wish to compare their quotes with competitors, existing platforms and tools are insufficient.

Fred Kleiterp, Regional CEO for the EMEA region at Swiss Re Corporate Solutions, has expressed optimism about the prospects for the global re/insurance industry if it is able to “work together and share technology to innovate.”

If insurers can summon the will to protect the public by providing disposable face masks, then insurers will achieve greatness.

In insurance, as in so much of life, timing really is everything. This has only become clearer during the COVID-19 pandemic which saw those companies which had already embraced remote working and digital communication channels reap the rewards of this investment when lockdown hit.

According to Swiss Re CEO Christian Mumenthaler, the re/insurance industry vastly underestimated the cost of a global pandemic due to its failure to account for the extent of government lockdown measures.

Efforts to rework existing data models come down to the very same question that is asked for reworking most existing systems: retrofit what exists or start over with a clean slate?

Simply having an online payment option does not mean your organization is automatically providing a positive user experience

Insurers hope to create a new way to collect driving data that’s easier for the driver than installing a device or downloading an app

The need for employee engagement cannot be overstated. More engaged employees, according to a Stanford University/Ctrip survey, are more satisfied with their jobs. It also boosts productivity

Insurance is at the forefront of the environmental, social and governance movement, which may usher in a Second Age of Enlightenment

Amid the economic turmoil of 2020, we’ve heard a lot about pricing adjustments on existing insurance products and about product innovations aimed at addressing new areas of risk

The Covid-19 pandemic continues to have an impact on every industrial sector as businesses and societies worldwide grapple with an ever-evolving situation. While some industries will be looking to embark on a recovery in the short-term, the Covid-19 impact on the healthcare sector will be long-lasting.

Digitization is the industrial revolution of the 21st century. What does this mean for a data-driven industry like insurance? The answer is simple: Turn everything on its head and reinvent yourself under high pressure- the future of insurance is digital

With the pace of change InsurTech has driven—and which COVID-19 has accelerated—the competitive pressure for insurers to change has grown proportionately more intense

As insurance technology advances, carriers must focus on customer pain points and allow them to drive efforts to find solutions

The most effective way fleets can control their insurance costs in a hard market is to leverage telematics to drive out risky driving behaviors

Keeping customers informed requires systems that can clarify the different stages of the claims process, determine what’s needed and calculate what will happen next – and can deliver that information in a way that the customer can understand

Here are the challenges insurance incumbents face in securing the tools needed to better keep up with our changing world.

“From now on, nothing in risk engineering will ever be constant BUT change. If you can’t get used to constant change, you’d better leave.”

While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may be auspicious.

A recent survey found that 42% of consumers would be more likely to stay with an insurer that pays approved claims within minutes.

Insurers that have successfully shifted to the cloud are set to capitalize on a surge in insurtech alliances triggered by the COVID-19 pandemic.

Automation, analytics and the right ecosystem of partners can drive up customer satisfaction and let carriers grow in these chaotic times.

When I was a schoolboy, I would make a little extra pocket money by buying Creme Eggs in bulk from the local cash & carry and then sell them at a 100% profit margin in the school playground. Fast forward 30 years and it’s my daughter’s turn, albeit she is now designing, sewing and selling Covid face masks (and has launched on Instagram too). Whilst her profit margins aren’t as good as the ones I made on Creme Eggs, her online presence means she has the reach and potential to earn a lot more pocket money than I did.

Do we build or do we buy? It’s the question that all insurance brokers must ask themselves when working out their digital strategy. There are

Paying claims needs to be the default, with AI and analytics ensuring that adjusters spend their time more valuably and have more interesting work. Fundamentally,