data

“Gig economy” is a buzzword in nearly every industry at the moment, and insurance is no different. For insurers, particularly Workers’ Compensation insurers, the nontraditional employees making gig work their primary source of income and the companies that employ them present a new frontier.... Read More >
Even within P&C Commercial lines, Workers’ Compensation insurance is a unique niche. The stakes, if not higher, are at least different when you’re insuring not buildings and vehicles but human beings. People. Can you imagine a more unpredictable risk, or one that contributes in more ways to your success? ... Read More >
According to the Allianz Risk Barometer 2018 business owners consider cyber incidents to be the second greatest threat to their organisations. Cyber threats were second only to business interruption, with respondents citing a cyber incident as the most feared cause of business interruption.... Read More >
Drones are often touted as being the answer to a great number of modern-day challenges. Soon, we are told, they will be making shopping deliveries for us, dropping off pizzas, and even taxiing us around. ... Read More >
It is predicted that by 2020 there will be 30 billion Internet of Things (IoT) devices - a 31% year-over-year increase from 2017. The global market value of IoT in 2020?  Well, it’s projected to reach $7.1 trillion by 2020. ... Read More >
What is an industry platform and why is it such a big idea? It’s clear the technology landscape in P&C insurance is becoming a “platform market.” Participants know the market used to be for modular applications designed along functional lines (claims, policy, billing). The next phase was the market for integrated suites including core operations, data and analytics, and systems for digital engagement. The third phase, recently begun, is the platform phase, evidenced by commentary such as this from Celent’s Donald Light. So what is an industry platform? And why should you care? ... Read More >
At the time of the announcement, the Cyence Cyber Risk model was predicting that Marriott had a probability of 83% of having any incident and a probability of 43% of having a data breach specifically. Perhaps more relevant, our model estimated a 12% probability of having an insurance relevant incident. ... Read More >
Betterview provides high resolution images and data on risks from drones, satellites, and manned aerial vehicles to support more accurate underwriting and claims handling. With access to better data throughout the property insurance lifecycle, insurers can better assess damage, mitigate risk, and make better decisions. In essence, a better view of risks. ... Read More >
Insurance companies consume terabytes of information every day in the form of digital data. Valuable data is being provided by more and more sources, which quickly paint a reliable picture of a risk or a submitted claim and make it possible to filter out unwanted risks and fraudulent claims. State-of-the-art technology is required to process this influx of information and convert it into applicable knowledge and insights. ... Read More >
“By analyzing driving data like hard breaking, speed, and time during an accident, telematics can help insurers more accurately estimate damages after an accident and even reduce fraud.” - National Association of Insurance Commissioners  ... Read More >

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