Startups driven by technology are set to revolutionise insurance, and in cyber the change is needed sooner rather than later, Oliver Brew of CyberCube told Monte Carlo Today.
As SCOR chair and chief executive Denis Kessler detailed the reinsurer’s new ‘Quantum Leap’ strategy for 2019/21, launched last week, he said the company is facing “more challenges in the next two-and-a-half years than in the past three”.
As the ILS sector continues to evolve and develop, its next big breakthrough could be driven by technology and the potential transparency and liquidity this could deliver, Amneris Koutsavgousti of Deutsche Bank told Monte Carlo Today.
As of January 2020 American International Group (AIG) will begin to affirmatively cover or exclude physical and non-physical cyber exposures for virtually all of its commercial property and casualty insurance policies, in an effort to address market concerns around silent cyber risks.
Latin America is experiencing a digital revolution and with a foothold in Miami and Brazil, Argo Group is well placed to take advantage of opportunities in the market, according to its head of Latin America.
We’re at the beginning of the fourth Industrial Revolution and using legacy technology just won’t cut it, Victor Roldan, vice president, client director at RMS, told FIDES Today.
Aon has launched an auction capability for the January 1, 2020 reinsurance placements, claiming it can save insurers’ time.
The insurance industry must keep a close eye on the transformative potential of technology, according to Ian Meadows, director for insurance at EY and a director of EY’s initiative Insurwave, which offers blockchain-enabled marine insurance.
The drive towards diversification to achieve greater capital efficiency has been partly responsible for the poor performance of some syndicates at Lloyd’s in recent years as carriers have looked to write lines of business without the appropriate expertise.
Technology companies at the forefront of the so-called insurtech revolution are talking the talk, but there is very little of substance to back up their words, according to the online readers of Intelligent Insurer.