Specialist venture capital fund Eos has partnered with broker Marsh to develop innovative insurtech solutions that will deliver 'actionable intelligence' to drive real-time risk management within the insurance marketplace.
US property/casualty (P/C) insurers are well placed to weather the landfall of a significant storm in the 2019 hurricane season despite experiencing elevated catastrophe losses in the recent years, according to Fitch Ratings.
Markel Corporation has appointed James Proferes as executive underwriting officer for global professional liability.
Bermuda-based White Mountains Insurance Group has acquired a minority equity stake in Elementum Advisors, an insurance-linked securities (ILS) manager with over $4 billion of assets under management.
Everest Insurance, the specialty insurance division of Bermuda-based Everest Re Group, has bolstered its professional liability group with three new members who join from Sompo, Navigators and TMR.
Society is in the early stages of a revolution driven by technology. While this should mean more prosperity, it will also mean unintended consequences and some “dark and challenging” times, John Ludlow, the chief executive of Airmic, warned delegates in his opening remarks at the risk management body’s annual conference.
The world is grappling with a fast-moving and complex fourth industrial revolution, the full consequences of which are impossible for foresee. This means new challenges for risk managers—but also opportunities.
Data science and machine learning offer opportunities to provide better pricing and reduce fraud as well as offering other benefits, Airmic delegates heard at the ‘How can AI change the risk landscape for businesses and their insurers?’ workshop led by QBE at the Airmic conference.
An acceleration in the take-up of technology can be expected “in the next five years” as more insurance industry executives recognise the value it can provide, said Steve Cloutman, managing director at advanced analytics company Ventiv Technology.
Paul Sankey, Liberty Specialty Markets’ head of energy & construction, says the downstream energy market needs to do some serious thinking about its profitability.