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INSURANCE INDUSTRY NEWS
Cyber Perils Outrank Pandemic, Broken Supply Chains As Top Global Business Risk
Cyber perils are the biggest concern for companies globally in 2022, according to the Allianz Risk Barometer. The threat of ransomware attacks, data breaches or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic, all of which have heavily affected firms in the past year.
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Improved Customer Experience, Efficiency Have Amplified Insurance Fraud Risk
As technological advancements have made crimes such as identity theft and claims manipulation easier to commit and harder to detect, digitalization is creating a variety of new data sources that insurers can use to identify fraudulent behavior. In a new report, Aite-Novarica Group examines the state of the claims fraud detection solution market and lists key market trends affecting fraud detection specific to P/C claims as well as the vendors serving this space.
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Insured Damage Total For Severe Weather In 2021 Surpasses CAD 2 Billion
Severe weather across Canada continues to highlight the financial costs of a changing climate to both insurers and taxpayers. Insured damage for severe weather events across Canada reached $2.1 billion last year, according to CatIQ. Noteworthy severe weather events last year included the November flooding in British Columbia and summer hailstorms in Calgary, and 2021 now ranks as the sixth highest in insured losses since 1983.
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New Guidewire Marketplace App From Risk Control Technologies
Guidewire and Risk Control Technologies have announced that RCT's new Ready for Guidewire validated accelerator for PolicyCenter is now available to users in the Guidewire Marketplace. RCT provides an end-to-end loss control platform to help insurers maximize claims reduction, increase customer retention, and harness data insights for better decision making.
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Crawford Technologies Launches Training & Education Platform
Crawford Technologies, provider of innovative document solutions, is pleased to announce the launch of CrawfordTech Academy, a learning platform available to all Crawford Technologies software users and partners. CrawfordTech Academy provides valuable insights, instruction and demonstrations from technical experts to help solve common and complex challenges.
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Swiss Re Receives World-First Digital Responsibility Designation
Swiss Re is pleased to announce that it is one of two pioneers to have a digital product tested and successfully certified by the Digital Trust Label, the first-ever label for digital responsibility launched by the Swiss Digital Initiative. Swiss Re has successfully certified Magnum Go, an automated L&H underwriting solution.
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New Study On Interactive Personalized Video Solutions
Madison Advisors is pleased to announce the availability of its newest research report on interactive personalized video (IPV). Viewing IPV solutions as the next stage in the evolution of customer communications, Madison Advisors sees opportunities for IPV to grow significantly as more customers opt into electronic communications and high-speed internet access continues to expand.
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SNAP Premium Finance Rebrands As Imperial PFS Canada
SNAP Premium Finance, the leader of payment solutions in the finance industry, is pleased to announce it has completed a rebranding. The rebrand to Imperial PFS Canada strengthens the connection between their parent company, Imperial PFS (IPFS) while reflecting the way the company has grown and expanded throughout Canada and cross-border. This rebrand also helps solidify IPFS' commitment to the Canadian market place.
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Insurers Have A Role To Play In Easing Geopolitical Climate Tensions
Lloyd's has released a new report to help insurers and risk managers navigate the significant overlap between geopolitical risks and climate change.
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