May 24th, 2018

Wearables, Drones and the Internet of Things: The Next Wave of Workplace Safety and Claims Mitigation, Part II

Posted at 1:00 AM ET

metropoulos_emil_gcciEmil Metropoulos, Workers Compensation and Terrorism Specialty Practice Leader

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Traditionally, workers compensation insurers’ risk assessment was based on data collected at certain times of year, such as policy renewal. And parts of the data set may rely on qualitative metrics like standard loss survey questionnaires, which can omit pertinent questions. By using telematics, employers and insurers can collect real-time data and institute a continuous feedback loop to identify unsafe conditions, immediately warn a worker who may be at risk and monitor and reward those who take corrective action.

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May 23rd, 2018

Wearables, Drones and the Internet of Things: The Next Wave of Workplace Safety and Claims Mitigation, Part I

Posted at 1:00 AM ET

metropoulos_emil_gcciEmil Metropoulos, Workers Compensation and Terrorism Specialty Practice Leader

Contact

The advent of connected devices and the Internet of Things (IoT) is opening exciting new doors in the insurance industry. The auto liability market has transformed from one in which underwriting relied on proxy variables such as driving history, demographics and credit scores to one in which telematics and real-time, personalized driving statistics inform risk assessment.

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May 22nd, 2018

Guy Carpenter Appoints Non-Marine Managing Director

Posted at 1:00 AM ET

Guy Carpenter announced the appointment of Richard Carver as Managing Director and Senior Broker in the firm’s UK non-marine division. Based in London, Mr. Carver will report to James Boyce, Deputy CEO, Global Specialties. He will take up the role in May 2019.

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May 21st, 2018

Guy Carpenter Bermuda Promotes Jenni Rowntree Estis to Head of Operations

Posted at 8:00 AM ET

Guy Carpenter today announced that Bermudian Jenni Rowntree Estis has been promoted to the role of Head of Operations, Senior Vice President, Broking.

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May 18th, 2018

Week’s Top Stories: May 12 - 18, 2018

Posted at 10:00 AM ET

Chart: Global Property Catastrophe ROL Index: The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

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The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented: As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

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Building for Resilience: How to Avoid a Catastrophe Model Failure: Here we bring together our recent multi-part series on model resilience by Guy Carpenter’s Global Chief Catastrophe Modeler, Imelda Powers.

Read the article >>


Technology Opens the Door to Growth: Why must risk executives know about AI, Internet of Things, blockchain, and other technologies? The answer is often sitting in plain sight, from wearable technology that informs workplace risk to IoT connections that provide rich sources of data to insurtech solutions for insurance and risk finance. The promise for risk professionals who use these technologies is to proactively contribute to their organizations’ growth and performance. This year’s Excellence in Risk Management survey from Guy Carpenter sister company, Marsh, and RIMS found risk professionals welcoming their role in innovation and embracing their companies’ digital approach.

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Exploring the Excess & Surplus Industry; E&S Market Update and Projections: The excess and surplus (E&S) lines segment of the insurance industry continues to be the essential market for risks for which¬† the standard insurance market typically does not offer coverage. From extremely hazardous conditions to highly unique business operations and unproven new products, these unconventional risks are often complex and challenging. The E&S market’s challenge is to develop products to cover these exposures utilizing its expertise and freedom of rate and form.

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And, you may have missed….

United States Reinsurance Capacity for Terrorism: In 2017, according to Guy Carpenter, the combined property and workers compensation private conventional-only terrorism reinsurance capacity was estimated to be USD 2.5 billion per cedent program. Reinsurance capacity for coverage that includes Nuclear, Biological, Chemical and Radiological, especially in Tier 1 cities and central business districts, has become increasingly challenging to secure over the past two years due to the accumulated aggregate constraints of some markets and is estimated to range between USD 500 million and USD 1 billion per program. Marsh’s 2018 Terrorism Risk Insurance Report, produced with support from Guy Carpenter, explores the state of the terrorism insurance marketplace, presenting data on purchasing and pricing trends.

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May 17th, 2018

Building for Resilience: How to Avoid a Catastrophe Model Failure

Posted at 1:00 AM ET

Here we bring together our recent multi-part series on model resilience by Guy Carpenter’s Global Chief Catastrophe Modeler, Imelda Powers.

Since commercial catastrophe (CAT) models were first introduced in the 1980s, they have evolved as new scientific discoveries and claims insights emerged. Despite the sophisticated nature of each new generation of CAT models, occasionally a model misses a significant loss driver for a particular peril. This occurs when a previously hidden attribute reveals itself through unprecedented intensity. Lessons from such surprises stimulate model improvements as our understanding of the physics of the peril and its damage potential, increase. Through this process, models mature over time.

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May 16th, 2018

Chart: Global Property Catastrophe ROL Index

Posted at 1:00 AM ET

The Guy Carpenter Global Property Catastrophe Rate on Line (ROL) index is presented for 1990 through 2018.

Continue reading…

May 15th, 2018

Technology Opens the Door to Growth

Posted at 1:00 AM ET

Why must risk executives know about AI, Internet of Things, blockchain, and other technologies? The answer is often sitting in plain sight, from wearable technology that informs workplace risk to IoT connections that provide rich sources of data to insurtech solutions for insurance and risk finance. The promise for risk professionals who use these technologies is to proactively contribute to their organizations’ growth and performance.

Continue reading…

May 14th, 2018

The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented

Posted at 1:00 AM ET

As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

Continue reading…