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growth-cyber-insurance

The Future Growth of Cyber Insurance and How It Will Change the Market

Small- to medium-sized insurance companies not including cyber insurance packages in their coverage offerings may be missing a huge opportunity for growth. Statistics show that cyber crimes are on the rise and experts project that these trends will continue despite the most sophisticated cyber security measures employed by businesses around the globe. Interestingly, smaller companies…

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cyber-insurance

Eight Things to Know About Cyber Insurance and Its Impact

Data breaches are on the rise, and companies across the globe are realizing with an ever-growing intensity that the negative impact of such occurrences can be devastating. In addition to the enormous risk to companies’ assets, data breaches can result in loss of customers, sales, revenues and professional reputations. The following eight points are provided…

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artificial-intelligence

The Impact of the EU’s Data Privacy Laws on AI in Insurance

Artificial intelligence technology has become more pervasive than ever. Complex algorithms within this technology enable companies across multiple business sectors to gather information and profile current and potential customers. This has enabled companies to easily provide solutions that fit customers’ needs.   However, new legislation enacted by the European Union (EU) may make it difficult…

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blockchain-prototype

What Blockchain Prototype Offers the Captive Insurance Market?

The realm of blockchain technology is affording new opportunities for growth and optimization globally in the processing of financial transactions, and now a new prototype has been developed and is being successfully used in the captive insurance market.   The prototype, developed and implemented by Allianz Global Corporate & Specialty (AGCS) in cooperation with Ernst…

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What Captives Need To Know About Blockchain

The cryptocurrency world is in tumult, but there has been serious discussion within the financial and security sectors regarding the technology that powers the volatile currency. While no one is suggesting that you invest in crypto, a deeper look at the code that powers it can transform captive insurance technology.   Blockchain Basics Cryptocurrency was…

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5 Ways To Secure your Insurance Cloud Data with SaaS Security

Smaller insurance companies are migrating to the cloud using SaaS (Software as a Service) technology at an increasingly faster pace than ever before. Whether used for sales, administration or insurance underwriting software, these systems have helped to streamline insurance company software applications into a platform that supports all business functions with less hassle and greater…

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gig-economy

Insurance software solutions for the Gig economy

The global corporate landscape is changing and small to medium-sized insurance companies have excellent opportunities to capitalize on these changes. The buzzword fueling the change is known as the “Gig Economy” and it is taking the small business world by storm.   The Gig Economy consists of an ever-growing demographic of individuals who work as…

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Small Insurers and Digital Insurance

Are Small Insurers at Risk of Becoming “Blockbuster Videos” in a Netflix World?   Having just attended the Digital Insurance Dig-In 2018 annual conference, I felt like I drank innovation from a firehose.  The conference showcased real use-case technology innovations from insurers large and small as well as the latest technologies from upstart and incumbent…

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risk-sharing

How Risk-sharing pools have surpassed commercial insurance for public entities

For public entities, such as cities, counties and school districts, risk-sharing pools have provided a viable alternative to commercial insurance plans. Created in the 1970’s and revived in the 1980’s, public entity pools offer the means to stabilize taxpayer funds for public employee insurance plans.   Public entity risk-sharing pools differ from commercial insurance plans…

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workers-compensation

Key benefits of implementing Digital RMIS Technologies for workers compensation

Self-insured businesses not currently using workers compensation software to manage their risk and claims cost may be doing themselves and their employees a disservice. This is especially true for companies in areas such as construction, energy, and mining that have typically higher risks for on-the-job injuries. For these companies, software designed to manage workers compensation…

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