risk

The adoption of cyber insurance is on the rise. According to a recent Marsh & McLennan survey, 47% of organizations indicated that they have cyber insurance, up from 34% in 2017*. In addition, 89% of them were confident that their policies would cover losses caused by a cyber event. But, although cyber insurance has gained significant momentum, investment in traditional cyber prevention technology has far outpaced cyber insurance spending.... Read More >
To quickly grow their business in a highly competitive market, insurers frequently consider adding a new insurance line or entering a thriving new market. Why not do both? For example, they can launch an insurance product that covers new and evolving cyber risk specifically for the underserved market of small and medium-sized enterprises (SMEs).... Read More >
Guidewire Cyence™ Risk Analytics recently announced the general availability of the fourth-generation update to our risk model (Model 4) for Guidewire Cyence™ for Cyber Risk Management. While developing this new model, our team collected additional data and reviewed a significantly larger set of claims.... Read More >
The small- and medium-sized business (SMB) segment represents a compelling growth opportunity for insurers. However, due to the lack of information on small businesses, a common challenge for insurers in the small business workers’ compensation market is identifying risk differentiation between similar types of small venture entities.... 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 >
In the last decade, websites have become so ubiquitous that GoDaddy, one of the oldest and largest hosting providers in the U.S., was once a regular Super Bowl advertiser (until 2017). Maybe you remember the commercial that ran in 2017 and was so racy that it caused a lot of controversy. Cheap monthly hosting with easy-to-use tools and unlimited storage has made it easy to set up a website with a shared hosting provider like GoDaddy—without much thought about the security implications.... Read More >
Cyber attacks have become the most prominent threat or disruption to business entities in recent years. Corporate entities are concerned about damages to their brands, the stability of revenues, and the safety and privacy for their employees and customers because criminals have become more sophisticated at figuring out standardized security and evading defenses. Specifically, cyber attacks present unprecedented challenges to 21st century enterprises because of the speed of occurrence and severity of damage, along with the enterprise’s vulnerability to keep up with the evolving complexity and volume of cyber threats. ... Read More >
One of the biggest challenges faced by the U.S. Homeowners insurance industry are the losses driven by hazardous or poor maintenance conditions. There are many unknowns when a risk is being underwritten and field inspections help carriers learn more about the conditions of the structure and the property.... Read More >
In my last blog, I wrote about the potential value for both policyholders and insurers of market segmentation – creating ‘boxes’ that meet specific shopping (marketing), buying (quoting), using (servicing), and assessing (renewing) needs.... Read More >
Part Two – Tracking Key Metrics and Identifying Readiness... Read More >

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