The ongoing digital transformation of insurance broking
Artificial intelligence (AI) and big data are driving a shift from traditional broking methods towards dynamic, data-driven strategies aimed at enhancing customer experiences and anticipating their future needs. This transformation was the focus of a recent seminar hosted by the Insurance Institute of Gauteng (IIG), where a trio of non-life insurance experts gathered to present on the evolving landscape of insurance broking in the digital age.
4min read
Viewpoint: How Insurance Industry Can Use AI Safely and Ethically
Artificial intelligence (AI) is on the brink of transforming most aspects of business, including insurance, but it needs to be used responsibly, according to Zywave Chief Technology Officer Doug Marquis, who takes a look at some of the practical steps insurance companies can take to use AI safely and ethically.
5min read
Litigation costs drive US liability claims by 57% over past decade, reveals Swiss Re Institute
Social inflation has become the main growth driver of US liability claims, according to Swiss Re Institute‘s new Social Inflation Index. Primarily due to a rising number of large court verdicts, social inflation increased liability claims in the US by 57% in the past decade and reached an annual peak of 7% in 2023.
Learn more about social inflation and how judicial systems in the West handle these claims. 3min read
Cyber Insurance: What Businesses need to know
Cyber insurance has become a crucial safety net for businesses, particularly in the face of escalating ransomware attacks. This financial safeguard promises protection against the often devastating consequences of cyberattacks. However, as ransomware incidents have surged, so too have the premiums for cyber insurance.
3min read
Exploding Pagers Sound Global Alarm on Supply-Chain Security
Thousands of pagers and other devices exploding in Lebanon this week mark a new and deadly escalation in the use of supply chains against adversaries, giving new urgency to global leaders’ drive to reduce their dependence on technologies from rivals.
The explosions were on 18 September. This article shines a light on the vulnerabilities industry and governments have to account for with rising geopolitical conflict. 4min read
How the need for secure supply chains is propelling blockchain
A PwC study predicts that blockchain’s ability to track provenance will contribute US$962 billion to global GDP over the next decade.
Every product has a story. One of the major benefits of blockchain technology is that it allows parties to trace the origins and follow the journey of just about anything, enabling far greater confidence and safety in supply chains and helping to prove the provenance of goods, whether they’re fresh produce or raw materials. Our study identified three key areas that illustrate the enormous potential blockchain has in the area of provenance: its ability to combat counterfeits, to prove sustainability credentials, and to promote food or product safety.
Fascinating 8min read to increase your understanding of blockchain and supply chains. I am reminded of advice from a recent Exam Techniques workshop: know your product and its ecosystem and apply the actuarial control cycle to its lifespan.
Lithium Startups Bet on High Demand in Battery-Powered Future
As the world leans into electrification, it will need more lithium. A key ingredient in the batteries that power everything from electric vehicles to cell phones, demand is projected to accelerate over the next decade.
To meet it, a new crop of startups is working on novel ways of producing the valuable metal and promising to open untapped lithium sources. They’re also battling heavy economic headwinds, pushing their technology forward amid a current market slump.
Such an informative read – well worth the 6mins. Consider the full cycle of the role of lithium from extraction to the EV