MARKETS & TRENDS
BI non-physical losses: the UK solution
With the Royal Assent being given to the Counter-Terrorism and Border Security Bill 2018 - allowing Pool Re to cover non-physical losses incurred following a terrorist attack -, the British market has set a precedent at global level, by finding solving a challenging issue born by the changed character of the terrorist attacks of the recent years.
(Infographic): 300+ Global insurers reveal next generation products and services
67% of the insurance peers agree that Machine Learning & AI will have huge impacts on how product innovation is shaped. How is your organisation set to take advantage of this, and become market leader?
Swiss Re: personal cyber insurance market will reach up USD 3.1 billion by 2025, if insurers' offer will meet customers' needs and preferences
Technology has become so ubiquitous, it is hard to live without it. It comes with huge advantages, but also risks - and there is an increasing role for insurers to play in protecting customers in the face of cyber threats, reads the latest Swiss Re white paper on cyber risks.
WEF's global Top 5 most concerning trends 2019: changing climate, cyber dependency and increasing social disparities and national sentiment
Rising geopolitical and geo-economic tensions are the most urgent risk
in 2019, while environmental degradation is the long-term risk that
defines our age, with four of the top five most impactful global risks
in 2019 related to climate. Rapidly evolving cyber and technological
threats are the most significant potential blind spots; we still do not
fully appreciate the vulnerability of networked societies. These are
some of the main conclusions of the World Economic Forum's Global Risks Report 2019.
2018 Global Risk Index: all threats are increasing; Nat Cat among the Top 3 classes of threats
Top three classes of threats putting at risk large shares of the global GDP in 2019 are Natural Catastrophes, Financial, Economics & Trade and Geopolitics & Security, shows the 2018 Global Risk Index, also emphasizing for the first time of the threats considered are increasing.
Global economic growth is solid but slowing, and emerging Asia will continue to power the insurance market, sigma says
Global premiums are forecast to grow by around 3% annually in 2019 and 2020, mostly driven by the high growth rates in emerging Asia which may be as by three times more than the global average. The economic power shift from west to east will drive insurance sector development to 2020 and beyond. Expanding the boundaries of insurability for corporate intangible assets will be another main growth area for insurers