Industry Trends

Despite the high-profile nature of cybercrime, risk transfer has barely scratched the surface of this peril, with cyber insurance accounting for approximately 0.3% of the global property and casualty market. What is holding insurers back from this potentially profitable market? ... Read More >
The impact of cybercrime on the global economy is growing at a rapid pace. By next year, global cybercrime losses could reach a staggering $6 trillion according to the World Economic Forum. And yet the global cyber market is currently worth a mere $7 billion. ... Read More >
Recognizing the technological winds of change, P&C insurers in the post-pandemic era are revising their digital transformation plans, with many accelerating them. I recently spoke with Karen Furtado, Partner at SMA, to explore the topic of two-speed transformation and understand what it means for today’s insurers. ... Read More >
The previous parts in this series on taming the uncertainty of ransomware risk advanced a playbook approach to reducing conceptual uncertainty of ransomware risk, and revealed the value of risk factors in reducing empirical uncertainty. Here we bookend this series by delving into the cyber insurance implications of these approaches to reducing ransomware risk. ... Read More >
The first part in our series on taming the uncertainty of ransomware risk spotlighted a playbook approach to reduce the conceptual uncertainty surrounding ransomware risk. In this sequel, we drill down to offer a risk factor-based approach to help tame the empirical uncertainty surrounding this cyber risk. ... Read More >
In this three-part blog series we tame the uncertainty of ransomware risk a la carte. For starters, we summon a playbook approach to reduce the conceptual uncertainty surrounding ransomware risk. We bookend this series by delving into the cyber insurance implications of these approaches to reducing ransomware risk.   ... Read More >
As the insurance industry as a whole continues to feel the effects of COVID-19 in many different ways, insurers in the workers’ compensation market are keeping a close eye on claims numbers and legislative activity. According to a National Council on Compensation Insurance article earlier this month, complex COVID-19 claims are rare in frequency but have a disproportionately high impact on medical expenditures. ... Read More >
At the time of this blog’s publication, Guidewire customers are processing tens of thousands of insurance claims for the devastating wildfires in California, Oregon, and Washington.  The claims are not just for homes and businesses destroyed, but also for smoke contamination, contents damage, and living expenses due to evacuation orders.  ... Read More >
In my Trendsetters blog series, I explore 3 insurtech value propositions rated as the top emerging trends for 2020.  Email my customer facing blogs to prospects and carriers here.    ... Read More >
70% of U.S. auto insurers will be using telematics UBI by the end of 2020.*... Read More >

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