Insurance industry

COVID-19: Considerations for the Insurance Industry

COVID-19: Considerations for the Insurance Industry COVID-19's impact on the insurance industry will undoubtedly be severe. The primary impact on insurers across all lines of business — from property and casualty (P&C) to specialties — will likely be on the balance sheet. This will stem from the challenge of navigating large claim exposures combined with a fall in the global equity markets, which has reduced investment return income. Investment income previously supported overall income, lowered combined ratios, and mitigated prior-year losses. Could the financial implications for insurers cause more onerous regulatory requirements under already far-reaching regimes such as Solvency II...

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Insurance Industry Research :: Fitch Solutions

Insurance Industry Research Robust forecasts, data, and trend analysis to guide the strategic decisions of underwriters, brokers, and business development departments across the insurance industry. Profit from the latest insurance industry trends Quarterly Reports Market overviews for over 100 countries including 5-year forecasts, key industry trends, business environment, regulatory, and company strategy analysis. Data & Forecasts 30-year historic data and 5-year forecasts for life and non-life premiums, and gross written premiums for all major non-life segments. Competitor Intelligence Strategies, financials, mergers and acquisitions, restructuring activities, and...

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5 new trends that will shape insurance industry in 2021 - The Financial Express

This year, the Indian insurance industry is mostly expected to search for growth through new service-based models, innovative products and better focus on prevention. Another category of insurance products that will be in high demand in the year 2021 is Switch-on and Switch-off insurance. What a difference a year can make? 2020 may be the answer. The ongoing COVID-19 pandemic drastically shifted consumer needs, habits and expectations, while compelling virtualization of operations literally overnight. The tiny yet deadly novel coronavirus triggered a galore of structural changes across all sectors and the insurance industry was no exception. The year saw many important planning go awry with...

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Current Conditions for the Insurance Industry, S&P Global

featured Corporate /en/research-insights/featured/current-conditions-for-the-insurance-industry content esgSubNav Olympics A Go for IOC; Cancellation Would Have Long-Lasting Insurance Impact The International Olympic Committee expects the Olympic Games in Tokyo to proceed even as Japan deals with another wave of coronavirus infections. But with a growing chorus of voices in Japan calling for another postponement or even a cancellation, the specter of long-lasting impact from the Games on the insurance industry still looms. U.S. Insurers Boost Stakes In COVID-19 Vaccine Makers In 2020 As a number of pharmaceutical companies rushed to create COVID-19 vaccines in 2020, U.S. insurers added to...

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Analytics Use Cases For Insurance Companies, News, Management Events

Predicting what will happen – a look into the future – is a particularly tempting prospect for insurance companies. The achievements of modern information processing, the abilities of Artificial Intelligence (AI) and Machine Learning (ML) open up promising possibilities in this regard. Insurance companies have numerous starting points for forecasting models along the customer life cycle with the most important events in a customer’s life. In the following, we show how this can work on the basis of a typical customer life cycle – starting with customer acquisition, all the way through to customer retention – and what possible uses are offered by forecasting models. MARKETING AND...

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Future Outlook of Telematics and the Insurance Industry - The Digital Enterprise

Having a deep understanding of customer behavior is propelling the insurance industry forward, especially with the help and advances of telematics. Within the auto industry, insurers are privy to information such as speed, location, weather conditions, road conditions, surrounding objects, time of day, vehicle health and even the physical condition of the driver. Mark Fitzpatrick, Senior Research Analyst at LendingTree elaborates on with all this information, where will the industry go next Technology has always been a disruptive force for insurance companies. Perhaps ironically, while some insurance businesses have been major champions of technological innovations, the industry is...

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Four Ways to Overcome Data and Analytic Challenges in the Insurance Industry Datameer

I chaired a panel last week at the Corinium Chief Data and Analytics Officer, Insurance event this week in Chicago. The entire event was very revealing into the data and analytics issues of the insurance industry. One key takeaway was that while the insurance industry does not produce physical assets, insurance carriers should be in the business of producing one key asset: Data. Insurers have tremendous volumes of data about customers, risk, losses, policies, claims and more that can be transformed into real business value. Like manufacturers who optimize their business around the production of their physical assets, the key to optimizing an insurer’s business is to streamline the...

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The Global Trends Shaping The Insurance Industry in 2020

The Insurance Industry has been at the forefront of innovation. Companies are investing heavily in new technologies and applications to catalyze this growth. Maintaining a fair understanding of the top trends in Insurtech is essential to securing the long-term viability of any insurance endeavour. Not only to keep up with industry standards and expectations, but to ensure customer satisfaction. This article aims to highlight some of the key trends we expect to see in 2020, many of which will follow into the coming decade. 2020 Trends and Our Sources This data comes from our own internal analysis. It is pulled from our tacit knowledge in the industry and comprehensive interviews conducted...

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Digital stewardship in the insurance industry - Microsoft Industry Blogs

What is digital stewardship in the insurance sector? To answer this, let’s begin with the background on data usage in the insurance industry. This industry is a unique combination of two things: (1) massive amounts of data and (2) a highly regulated and controlled process to use and store data. So a simple answer is this: digital stewardship is the process of managing, controlling and securing data, as it is used and generated through the insurance value-chain, in a way that meets all security and regulatory requirements. In this series of three blogs, we’ll explore digital stewardship as it relates to both data and data regulations. Data and regulations in the insurance industry Data is...

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What is Insurtech? A look at big data in the insurance industry, Seize The Data,

Posted By Pinar Dost ⋅ January 22, 2020 It’s hard to think of a commercial sector better placed to benefit from big data insight than insurance. The entire concept of insurance is based on assessing the likelihood of various occurrences, so it makes perfect sense that more data and ways in which to analyse it would result in more accurate risk assessment. There is a wider pool of consumer data for insurance companies to draw on than ever before – open data, social media data, data from devices connected to the Internet of Things (IoT) – such as connected cars. All of this can be merged and collated to paint a more detailed picture of the individuals and organisations applying for...

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