According to the latest market research study published by P&S Intelligence, the global cyber insurance market revenue is estimated to rise to USD 11,904.6 million in 2022 and grow at a 19.1% compound annual growth rate between 2022 and 2030, reaching a value of USD 48,328.4 million by 2030. This growth of the industry can be credited to the rising count of viruses, malware, and other kinds of attacks on IT networks, the rising governing concerning cybersecurity, and the execution of linked insu
insurance (93)
In an era where digital transformation is not just an option but a necessity, the insurance industry stands at a crucial juncture. The need for robust insurance regulatory compliance has never been more pressing. The stakes are high as insurers handle sensitive customer data and navigate a complex web of regulations. Cybersecurity is not just a technical issue; it's a cornerstone of trust in the digital age.
Much like the banking industry, the insurance sector is undergoing a major shift. Consum
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Hi Global Risk Community member.
The warp speed of tech advancement means that carriers must now also be tech companies - which is only possible with the right people.
But attracting and retaining such widely sought after talent is tough, even amidst the wave of tech expertise currently entering the market. Competing with start-ups and more “innovative” sectors; meeting candidates diverse needs and utilizing talent effectively - your talent strategy is essential to execute your change agend
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85% of insurance executives are deploying CX initiatives but most are struggling to see the true benefits. Simply adopting technology and analyzing data isn’t enough.
A fundamental culture shift and a mindset change to being a tech and data driven organization is the only way we will be able to meet the needs of our current and future customers.
Sign up for our free webinar – Foster the Insurance Culture that Unlocks Ultimate Transformation Value – Thursday 27th January, 11am EST
Our e
AmWINS, Employers, Hippo, Marsh, Pie and Gallagher Speak Out On Technology’s Transformative Impact On Commercial Lines
Commercial lines carriers are naturally cautious about investing in trends that may come to nothing, but the risk of inaction is becoming as great as too much haste. As new entrants gain traction in the market, incumbents risk facing redundancy if they fail to make commercial insurance easier to deliver for carriers and brokers, and a more rational, useful experience for custome
This is a transcription of our interview with Nelson Hendler, CEO at Maryland Clinical Diagnositcs and Diagnostic Risk Management.
You can watch or listen to the interview on our Risk Management podcast here or via any podcast app.
You can watch or listen to the interview on our Risk Management podcast here or via any podcast app.
Boris: Welcome to the Risk Management Show. I am Boris Agranovich, founder and CEO at Global Risk Community.
In this episode I'm talking with Nelson Hendler CEO at
Connected Claims USA has officially launched as the first fully virtual claims event and remains the world’s largest and most senior claims event (June 23-25, 2020).
As uncertainty becomes the new normal, it has never been more important for the insurance industry to pull together to support customers and claims handlers alike through this difficult time. Claims transformation is more urgently needed than ever before.
"It’s true that we’re in a period of disruption, but from disruption, I believe,
Even before Covid-19 began its global march, the insurance industry was gearing up for profound change. But as the events of 2020 continue to evolve, there is growing sense of urgency for carriers to accelerate delivery of spot-on solutions for their customers.
To navigate this new era, Reuters Events is launching Insurance AI and Innovative Tech Virtual (May 27-28).
Across all corners of insurance, longer-term goals now require immediate action, and a strategic push to embrace digitalisation like
For insurance carriers, automation can be a dangerous game as customers demand both a frictionless, automated claims process and access to understanding claims handlers. How do you find the right balance?
With chatbots at FNOL, image analytics estimating damage more accurately than any human, and complex claims being fast-tracked to claims adjusters, virtual claims handling delivers the efficiency that customers expect with the empathy customers need. Join our panel of experts as they share insig
With 90% of carriers actively investing in new data projects, project failure is not an option.
Artificial intelligence (AI) and machine learning (ML) have become mainstays in the insurance industry, equipping insurance companies with tools that can help them to become more efficient and profitable than ever before. But with the stakes so high, carrier executives are immobilized - the volume of cutting-edge data sources has exploded and the vast majority won’t implement a project if they’re not
The insurance industry is facing the challenges of disruption caused by the technological advancements in artificial intelligence (AI) and machine learning (ML). Insurance carriers are now able to know more about their customers than ever before. They can use data mining with AI and ML to develop compelling product offerings. Customers may enjoy a more personalized experience that has faster and more accurate claims processing capabilities resulting in vastly improved customer service.
Is your o
As customer expectations have risen thanks to new platforms and products, so too has the level of technological sophistication as artificial intelligence, chatbots, drones, telematics and apps have become common in multiple industries. The insurance industry is now at a critical juncture as carriers seek to transform their claims processes, using new technologies to meet rising customer expectations and reduce costs. According to a recent survey, over 70% of insurance carriers are looking to inv
As insurance carriers look to technology to meet customer demands at scale, how carriers react to competition and rising customer expectations today will define their success tomorrow. From providing bespoke products, instant customer service and real-time risk monitoring, the likes of AI, machine learning and other innovative technologies are proving the only means through which insurance carriers can meet the high demands of consumers today.
Likewise, managing the backend requirements of the te
In an age where customers are demanding their Insurance Carrier be more like Amazon or PayPal with a smooth, touchless customer experience, Insurance Carriers face multiple obstacles to satisfying this demand. Chief among them is the overwhelming multitude of technologies available to reach that touchless claims goal.
77% of insurance carriers will invest in automation in the next few years to achieve seamless claims. The incredible potential to leverage technology stretches across the claims la
LONDON, 22 NOVEMBER 2019: Insurance leaders to join Insurance Nexus to discuss strategies to successfully implement insurance technology, Wednesday, December 11, 10am EDT.
It is generally now accepted that for insurance, innovation is a ‘must-have’, rather than a luxury. To attract and retain consumers today, to remain competitive and efficient in business, Insurance companies are increasingly turning to the growing number of technological solutions on the market, such as AI, chatbots, automation
A message from our partner:
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takes place on 2 – 3 December at Hilton London Tower Bridge and a
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