December 4th, 2017

GC Capital Ideas Top Stories: November, 2017

Posted at 1:00 AM ET

1. Just Say “Know” to Insurtech; Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries  -  the development of fintech within financial services being an example.

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2. Guy Carpenter Reports US Insurance Market at a Crossroads but Opportunity Exists; Guy Carpenter today released a study outlining a dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk.

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3. From Risk to Resilience: Marsh & McLennan Companies Cyber Handbook 2018: Perspectives on the Next Wave of Cyber; Cyber risk continues to grow as technology innovation increases and societal dependence on information technology expands. A new and important turning point has been reached in the struggle to manage this complex risk. In the war between cyber attackers and cyber defenders, we have reached what Winston Churchill might call “the end of the beginning.”

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4. Understanding Systemic Cyber Risk; Insights Through Pandemic Behavior; Today, through air travel, a carrier of MERS or Ebola can cross the ocean in less than a day, board a crowded subway train and potentially infect hundreds of people. Containment of a pandemic outbreak begins upon discovery, similar to the way in which forensics and network restoration efforts can begin once a cyber breach is identified. According to Platt, the longer the lag until discovery, the more difficult containment and treatment will be, whether it is a biological or cyber event.

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5. Asia Pacific Catastrophe Report 2017: Executive Summary: Losses; Insured losses in Australia and New Zealand were the largest events. The region was also impacted by floods in China, India and Thailand and an earthquake in China. Once again, flood was a major contributor to economic losses in the region, but often in areas where insurance penetration was limited. Flood is difficult for (re)insurers to model, but Guy Carpenter has made significant steps to help clients deal with the problems.

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6. Insurers Challenged by Forces of Technology Disruption; Here we review recent GC Capital Ideas posts on the need for the insurance industry to come to terms with the forces of technological disruption challenging their business models.

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7. Threat Trends on Major Cyber Attacks in 2017; The Marsh & McLennan Companies Cyber Risk Handbook 2018 is published.

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8. Study Identifies Winners in Growing Insurtech Space; A 2017 report from consulting firm Oliver Wyman and insurtech investor Policen Direkt analyzes insurtech business models worldwide and pinpoints winners and losers.

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9. Insurers Adapting in a Time of Disruption; Here we review recent GC Capital Ideas posts on strategies insurers may utilize to continue to achieve growth in a disruptive environment.

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10. For MPL, Market Softening Continues in 2016-Signs of Pressure Emerge; Since 2010, the medical professional liability (MPL) industry has been navigating a soft market, with declining profitability, diminished investment gains and rising accident year operating ratios. Yet, reserve redundancies have kept calendar year combined ratios below 100 percent, allowing carriers to pay dividends to policyholders while maintaining favorable returns on equity.

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