June 23rd, 2017

Week’s Top Stories: June 17 — 23, 2017

Posted at 1:00 AM ET

Insurers Must Digitalize to Meet Buyers’ Needs, Says Greenberg: The financial services industry - including insurance - will undergo massive change thanks to digitalization, Evan Greenberg, Chairman and CEO of Chubb Limited told MMC’s Young Professionals’ Global Forum.

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Industry Must Act to Avoid a “Kodak Moment:” In his first speech as Lloyd’s new chairman, Bruce Carnegie-Brown said the insurance industry must do more to change and innovate or run the risk of being disrupted by external players.

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Public-Private Insurance Partnerships Bolster Latin American/Caribbean Resilience: Globally, three of the ten most costly natural disaster events in the last 35 years occurred in total or in part in the Latin America/Caribbean (LAC) region; losses from Hurricane Matthew in the Caribbean are still being assessed.

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Guy Carpenter Sees Market Shift Towards Core Model Strategy: Insurers and reinsurers are increasingly adopting a core model strategy based around a detailed assessment of its capabilities, instead of the multi-model or blended approach as investment in modeling capabilities comes under pressure, says Matthew Eagle, Head of GC Analytics® - International at Guy Carpenter.

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Analytics: Fueling Risk-Informed Decisions: Today’s rapidly changing global environment presents insurers with many challenges and opportunities as capital management and risk transfer techniques evolve at an unprecedented pace. Stakeholders, regulators and ratings agencies are deepening their focus on risk management practices, and revolutionary developments in technology, including the Internet of Things and hyper-connectivity, are driving companies to adapt to the challenges that senior management faces to support risk management decisions

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And, You May Have Missed…

Industry Must Bend the Risk Curve to Deliver Value, Says John Doyle: John Doyle, President of Marsh LLC, called upon delegates at the MMC Young Professionals’ Global Forum to take advantage of the multiple opportunities in the current environment which he called the “Age of the Client.”

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