Strategy
STRATEGY
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Microinsurance is helping emerging markets improve access to financial services. As there is a lack of insurance cover in many parts of the world, this is a huge market opportunity for the insurance industry. However, the number of insurers pursuing inclusive insurance in emerging markets is low. -
As climate risks become a growing threat to global stability, the insurance industry plays a critical role in mitigating climate change and promoting resilience.
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Airmic’s latest survey ‘The Harsh Market: Future of the London Market’, found the pace of the market hardening is slowing, while the London Market is still faced with challenges around regulation, talent, sustainability and evolving consumer preferences.
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As medical devices including monitors for glucose, heart rate and other vital functions move to personal smart phones and watches, do insurers face potential liability if the technology fails?
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This year’s Airmic conference was held between 6-8 June at the Arena Convention Centre in Liverpool under the theme ‘Moving Forward Together,’ with one of the key panel sessions addressing the impact of cyber risks on organizations and how they can better protect themselves.
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As companies adjusted to employees working from home, and the experience of natural catastrophe striking new areas, the insurance industry is rethinking their claims processes, said Dave Chmiel, SVP, National Director of Claims North America, HUB International.
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Insurers can take steps including viewing flood as a primary peril, writes Jason Richards, CEO of UK & I for Swiss Re.
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The prospect of a long, hard market is driving businesses to make more use of self-insurance instead of handing premium over to carriers.
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Tasks that used to take days now take minutes, thanks to artificial intelligence and machine learning, said Kimberly George, global head of innovation and product development, Sedgwick.
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Risk managers need to continue to review and appraise the insured value of their properties to keep up with changing conditions, said Patrick Collins, managing director at Kroll.
