“Social inflation” is the increasing costs of legal awards due to social pressure to award larger amounts to plaintiffs, along with the corresponding increased quantity of lawsuits. These growing costs add considerable expense to insurance claims for businesses of all sizes...
Marsh's new ESG Risk rating will help clients identify and contain their most critical sustainability and climate-related risks. Improving sustainability is a key goal of this new rating.
Tesla has two massive advantages: distribution and data. Their data around accident causes, driver behavior, and collision frequency is helping to drive down coverage costs.
As geopolitical frictions increase, companies are encountering new risks they haven't dealt with manage those risks.
OpenAI is now open to anyone, which could accelerate the development of AI as people learn from each other and experiment with new ideas.
Change is a constant, and to keep a business model relevant to the future, companies need to adapt to the vision of the future that customers are expecting. Customers in every industry are growing less patient with clunky customer experiences – and that sentiment is true of policyholders and agents.
With the pandemic, climate challenges, and difficult insurance market conditions, 2022 is a transformative time for insurance risk. Here are 10 risk areas worth learning more about.
Christie’s recently sold an NFT for $69,346,250.00. With NFTs now looking like the next big thing in the fine art world, insurers need to figure out how to insure this new type of asset.
Chubb is going big on IoT to help mitigate losses from water damage. A big challenge it’ll face is how to properly incentivize policyholders to use the IoT devices.
Dais and Tarmika have partnered to help carriers expand their distribution options and give agents access to more insurance products. Agents using Tarmika will get access to additional insurance products. And carriers using the Dais platform gain new distribution opportunities.