News - Markets & trends
Insurance Europe: EUR 3.6 billion premiums written and EUR 2.9 billion paid claims every day by European insurers in 2018
European insurers wrote a total amount of EUR 1,311 billion in premiums and paid EUR 1,069 billion in claims and benefits during 2018, shows one of the latest Insurance Europe analysis.
2019-10-09World Economic Forum: Cyberattacks and Fiscal Crises top list of business risks in 2019
In a survey of nearly 13,000 business leaders in over 130 countries, respondents ranked "fiscal crises" as the leading risk to doing business at a global scale, World Economic Forum reports.
2019-10-07Guy Carpenter: InsurTech is advancing at an ever-increasing pace
Fear of disruption was pervasive early in the "InsurTech" era, stemming from indications that major technology companies were entering the sector, such as "Googlezilla", Apple and Amazon.
2019-09-11Guy Carpenter: IFRS 17 and the Value of Reinsurance
International Financial Reporting Standard (IFRS) 17 will impact the insurance value chain far beyond the areas of actuarial modeling and financial reporting, Vasilka BANGEOVA, Managing Director, Strategic Advisory, EMEA, Guy Carpenter, says.
2019-09-09The Four Waves of Insurtech
In a thorough analysis of the current Insurtech scenery, Roger PEVERELLI and Reggy de FENIKS, DIA founders, analyze the evolution of the companies activating in the field. The article, included below, presents a 'history' of the Insurtech start-ups, underlining the way things changed in a short period of time.
2019-07-19Pool Re: Only one in five UK businesses have a terrorism insurance policy
According to Pool Re, between February 1st, 2018 and May 31st, 2019 there were 323 terrorist acts causing 1,744 deaths and 2,335 injuries. The most affected regions were South Asia (118 attacks), Sub-Saharan Africa (100) and Middle East & North Africa (70). Europe (6 attacks) and Russia & CIS states (0 attacks) were the safest regions in this period.
2019-07-09Reinsurance market in the Republic of Kazakhstan. A fresh look. Article by Gaukhar Kassymkanova, Managing Director, MOI Insurance Broker, Ltd
How had the reinsurance industry fared on the Kazakhstan market for the last five years? (2014-2018) In this article main trends and mainstreams are analyzed and the simplest recommendations that may give an impetus to a new development stage are provided.
2019-07-04Dan GLASER, Marsh & McLennan: "The Age of Risk has just begun"
"There is no better time to be in the risk business than right now," said Dan GLASER, President and Chief Executive Officer of Marsh & McLennan, in his opening address to delegates at the MMC Rising Professionals' Forum 2019 in London.
2019-06-13Insurance Europe: GDPR may hinder insurers' efforts in the digital innovation area
"Despite significant efforts to modernize privacy rules, the GDPR and the guidelines adopted by the European Data Protection Board (EDPB) are not entirely innovation-friendly or fit for a digital age. Certain rules seem at odds with fast evolving technology and may slow the pace of insurers' digital innovation," is one the conclusions of the insight briefing published by Insurance Europe.
2019-06-12UK: From 9% to 95% insurable households against floods
It is estimated that about 5.3 million households in the UK are at the risk of flooding. The resulted costs from this highly damaging natural hazard have made UK insurers unable to take the risk of vulnerable households without significant losses or without charging a very expensive insurance premium. There is a solution to this problem and it comes from Flood Re.
2019-06-06The Riskiest Routes around the World
To mark Global Road Safety Week, data from WHO has revealed that each day, 3,700 people die in road crashes, meaning that 1,350,000 fatalities occur every year on the world's roads. Moreover, according to data revealed by WHO, India, China and Brazil are the top 3 most dangerous places to travel by road.
2019-05-13About a third of European insurers are using A.I. and Machine Learning in everyday activity
On 8 May 2019, the European Insurance and Occupational Pensions Authority (EIOPA) published an in-depth review of Big Data Analytics (BDA) use inside 28 European insurance markets. The aim of the study was to gather further empirical evidence over the benefits and risks arising from BDA tools in motor and health insurance business lines.
2019-05-09SWISS Re: Earthquakes in Italy are insurable
10 years after the earthquake that has destroyed the medieval heart of the Italian city of L'Aquila, Swiss Re promotes, together with the Italian Association of Insurers - ANIA, the idea of increasing the Italian cities' resilience by adopting country wide insurance solutions to mitigate earthquake risk and protect communities, by providing the financial means to recovery.
2019-04-30Number of road fatalities in EU is decreasing
In 2018, more than 25,000 people lost their lives on EU roads, European Commission data shows. Last year the number of fatalities at EU level decreased by 21% compared to 2010. On April 2019, EU has initiated new programs to be introduced, to further reduce the number of accidents and improve road safety.
2019-04-18AON: Terrorism and political activism, the new challenges for European businesses
Populism, protectionism and the changing face of terrorism are all phenomena that are currently shown more often in Europe and around the world. Aon, a leading global professional services firm, specialized in risk, retirement and health consulting, published a detailed analysis over this topic.
2019-04-16ITALY: 10 years after the L'Aquila earthquake, measures to increase country's resilience to Nat Cat are undertaken
On April 6, Italy has commemorated 10 years since the 6.3 magnitude earthquake that destroyed the medieval town of L'Aquila, in central Italy. According to Swiss Re's sigma, the measures taken since 2017 by the Italian government are encouraging uptake of earthquake insurance and retrofitting to make buildings more earthquake resilient.
2019-04-11Accenture: 6 in 10 customers are willing to share private information with insurers and banks in exchange for lower prices
A recent survey by Accenture of 47,000 participants across 28 markets shows that more than three-quarters of all respondents are willing to share personal data to insurance companies and banks to receive benefits, such as personalized offers and discounts.
2019-04-04Insurance Europe: The implications of a no-deal Brexit on insured persons
Europeans with a motor, health or travel insurance policy may be affected by a no-deal Brexit. Insurance Europe analyzed possible outcomes for the insurance domain and published a guide to help insurance consumers prepare for travelling to the UK.
2019-03-28March 2019 analysis on Brexit impact
A New Financial analysis found that 275 firms are moving or have already moved their businesses, staff and assets from Britain to the EU because of Brexit. The report shows Dublin, Luxembourg and Paris were the common choice, while Frankfurt was preferred by banks or investment banks.
2019-03-14China to become the largest insurance market by the mid-2030s
Emerging markets will remain the growth engine for the global economy and insurance industry over the next decade, the latest sigma report from Swiss Re Institute shows.
2019-03-07
