It is insurers’ claims departments that will benefit most from the progress towards automation and machine learning that is being made, says Elena Rasa, chief underwriting officer, Gruppo Zurich Italy.
Technology is changing the underwriting process and the role of brokers, and CapSpecialty aims to be an active participant in innovating in these areas to drive change and better serve its customers in 2018, explains Adam Sills, head of professional liability and small commercial P&C.
It’s time for insurers to wake up to the reality of their role in protecting companies from the fallout from cyber attacks, says Dan Trueman, the global head of cyber at AXIS Insurance.
New products based on technology and data are increasingly being brought to market, while claims processes are being sped up through technologies such as blockchain, freeing up capabilities for new services, according to panellists at an Intelligent Insurer roundtable sponsored by S&P Global Ratings at October’s Baden-Baden Reinsurance Meeting.
While the digital world allows insurers to create more appealing products for customers, keeping the data may become expensive as new data regulation becomes effective, according to a November Marketforce panel discussion with several insurance CEOs in London.
David Roberts, event director at GovNet, organiser of the 16 November Cyber Security Summit and Expo, and co-located GDPR Conference in London previews the event.
The German insurance industry has yet to catch up with digitisation and may face sudden disruption if a big player takes an innovative approach to the market.
The advent of new technologies is likely to revolutionise the maritime industry, but may create a more challenging environment for marine insurers, Dieter Berg, president of IUMI, tells Intelligent Insurer.
While reinsurers and brokers discuss the return of a market cycle most buyers just want a quiet life with no surprises—assuming they don’t feel underinsured in light of the recent hurricanes or cyber losses that have the potential to cause them sleepless nights. Intelligent Insurer reports.
The insurtech revolution is already challenging re/insurers, but those who feel they were on the front foot may not have contended with the possibility that change could be much more fundamental than they realised. Paul Cuatrecasas, an expert in acquiring technology companies, tells Intelligent Insurer more.