Insurance industry

Insurance sector in UAE projected to grow fastest in GCC in next five years

Dubai: The insurance sector in the UAE and Oman are anticipated to grow at the fastest annualised average pace of 12.1 per cent, followed by Saudi Arabia at 10.5 per cent, according to the GCC Insurance Report from Alpen Capital. The UAE will continue to be the largest insurance market in the region with a market size expanding to $18.1 billion (Dh66.4 billion) by 2021, with Saudi Arabia coming in a close second at $16.4 billion. “Growth of premiums in UAE will be driven by large project developments ahead of Expo 2020, pricing revisions and new opportunities such as property insurance,” said Siraj Bhavnagarwalla, Managing Director, Alpen Capital (ME) Limited. The GCC insurance market is...

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4 Reasons Why GIS Better Predicts Risk for Insurance Technology - GIS Geography

Insurance Technology like GIS is Revolutionizing the Industry- Car Insurance Monitoring Insurance Technology Trends for Mapping Risk All you hear today is that insurance companies can save you 15% or more on insurance. They can do this because they can better assess risk. So how do insurance companies use location intelligence? Insurers better understand where flood restoration, earthquake damage and hurricane cleanup occurs… All are location-based phenomena. It’s all about predicting risk in the insurance industry. And insurance companies better manage risk with Geographic Information Systems. Here are some prime examples how GIS is revolutionizing insurance technology. How do companies...

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Visualizing the slave insurance industry TechCrunch

Similar to the way people insure their cars, houses and lives, slave owners would sometimes insure their slaves. Fearful of not getting their money’s worth from their slaves, owners would sometimes take out insurance policies on them. In the 1800s, for example, some slave-owners who rented out their slaves would insure them so that, in the event their slaves died or were severely injured in the hands of someone else, the owners would not suffer too much of an economic loss, according to The Treasury of Weary Souls. The Treasury of Weary Souls, created by New York University Professor Michael Ralph and engineers from Resilient Coders, examines what slavery looked like after the trade...

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Insurance companies and cities: Allies in urban resilience InsuResilience

Insurance companies and cities: Allies in urban resilience Once impacted by natural disasters, cities are relying on insurance companies to rebuild and recover, which is driving up premiums. Constructive partnerships between cities and insurance companies can lay the foundation for a more proactive planning model, where cities and insurance companies plan together before a disaster strikes. As it is, rebuilding after a shock nearly always costs more than preparing for it effectively in the first place. As risk managers, insurance companies have the ability to understand and quantify risk. They could become cities’ allies after natural disasters to prevent shocks, reduce losses and transfer...

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1–5: How To Sell Your Technology to Insurance Companies

1–5: How To Sell Your Technology to Insurance Companies Are you are building a great chatbot-, machine-learning-, AI-, Robotic-Process-Automation technology but struggle to sell it to insurance companies or other large service companies? If you are wondering about any of the following questions, this article might point you in the right direction: What does the insurance industry actually care about? How should I position the value of my product and technology? Who is the right buyer or organization for my product? What else should I know when selling to insurance? How can I grow my reach within insurance corporations? This is an introductory article. It reflects my past years experiences...

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Five leadership tips for transforming the insurance industry - The Globe and Mail

Co-founder and president of Everest Funeral Package LLC, previously co-founder and president of Carriage Services (NYSE: CSV) and director and officer with Sovereign Holdings Inc. and RTO Enterprises Inc. The insurance industry is caught in a paradox. While effort is being made to innovate, stark realities are getting in the way of advancing the industry in the best interests of the consumer. Antiquated legacy systems that don't have the ability to produce high-quality data insights and actuarial-led decision-making processes are impeding companies' ability to evolve into the digital age and leverage that data to better meet, and ultimately exceed, consumers' expectations. Even with...

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This is How Technology Will Disrupt the Insurance Industry

#Six Trends that Will Disrupt the Insurance Industry for Good You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Last year, there was too much news buzzing around the insurance industry as multiple public-sector undertakings (PSUs) and private companies, such as HDFC Standard Life Insurance, New India Assurance, ICICI Lombard General Insurance along SBI Life and General Insurance Corporation issued Initial Public Offerings (IPOs) to list themselves at the stock market. The move clearly indicated that the industry means serious business. The insurance industry, which is presently pegged at USD 60billion, is expected to grow four folds in the next 10 year...

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A Vibrant Insurance Industry, The Actuary Magazine

Exploring trends in Chinese insurance regulation Hans Wagner June/July 2017 China is well known internationally for a variety of different attributes, including its long history, historical monuments such as the Great Wall, its outstanding and varied regional cuisines, its large population and its growing share of the global economy. From 1979 to 2010, China’s annual gross domestic product (GDP) growth was 9.91 percent. Since 2010, growth each year has trended down, from 10.6 percent to 6.7 percent in 2016. China passed Japan in 2009 and is the world’s second-largest economy behind the United States. The digital economy has been especially rapid in its growth, with more than 20 percent...

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How the insurance industry is opening digital channels, Janrain

How the insurance industry is opening digital channels Digital transformation presents insurance companies with many opportunities to improve performance, but none are as profound as the ability to enhance the customer experience. Despite its best efforts, the insurance industry has not historically excelled in this area. With the multitude of digital touchpoints available today, insurance companies can make plenty of changes to drive customer engagement and create a truly satisfying user experience. Register for our Reinvent Yourself as a Digital Insurer webinar featuring Forrester Analyst Ellen Carney. Where insurance customer satisfaction stands today The insurance industry at large...

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How Will IoT Transform the Insurance Industry? – IoT For All – Medium

How Will IoT Transform the Insurance Industry? The industry is figuring out how to protect smart homes and self-driving cars The Internet of Things will disrupt and impact many industries, from automotive to healthcare to energy and beyond. One industry that is already being redefined by IoT, but we don’t usually think of as such, is the insurance industry. How will insurance providers change their offerings when we all own self-driving cars? How will the massive amounts of data from a manufacturing floor influence workers comp and industrial risk? If everyone one day uses wearable, health monitoring devices, how will insurers determine rates and provide health insurance to their customers...

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