Archive for August, 2018



August 31st, 2018

Week’s Top Stories: August 25 - 31, 2018

Posted at 10:00 AM ET

Unlocking Innovation through InsurTech: The proliferation of data, analytics, and technology (DAT) driven capabilities in the form of InsurTech solutions has made employing these new innovations more compelling than ever before. Matching a business’s needs and objectives with the right capability accelerates strategic growth.

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Chart: The Matrix of Cyber and Property Lines Insurance Coverage: Chart examines the policy coverage matrix between cyber and property lines of insurance coverage.

View the chart >>

The Life Insurance Industry Needs a Lifeline: The life insurance industry appears healthy enough with plenty of capital and booming sales. A quick look under the hood, however, and it becomes clear that the industry’s profitability has been declining for some time.

Read the article >>

The Regulatory Landscape of Data Privacy: Here we bring together all the elements of our recent GC Capital Ideas series on the regulatory landscape of data privacy.

Read the article >>

Guy Carpenter to Host Scientific and Engineering Expo to Launch New InsurTech Advisory Offering Developed with Numerati® Partners LLC: Guy Carpenter announced the August 9, 2018 launch event for its InsurTech Alliance – a cost effective, state of the art and insurer-focused suite of capabilities to help carriers evaluate new innovations in the areas of data, analytics and digital technology-based products and solutions.

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And, you may have missed..

Revisiting War Exclusion in Cyber Policies: With two cyberattacks labeled as being state-supported – NotPetya and WannaCry attributed to support from Russian and North Korean governments, respectively – insurers and insurance buyers should begin a discussion about the wording of war exclusion in cyber insurance policies.

Read the article >>

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August 30th, 2018

Chart: The Matrix of Cyber and Property Lines Insurance Coverage

Posted at 1:00 AM ET

Chart examines the policy coverage matrix between cyber and property lines of insurance coverage. Below shows how the four types of subject matter (columns A-D) are generally covered by direct policies, relative to the various types of cyber and property perils (rows 1-5). Where cover is predominantly provided by property or cyber, the relevant icon is shown in blue. Where there is a degree of ambiguity, or coverage is limited, the icon is shown in gray.

Continue reading…

August 29th, 2018

Unlocking Innovation through InsurTech

Posted at 1:00 AM ET

The proliferation of data, analytics, and technology (DAT) driven capabilities in the form of InsurTech solutions has made employing these new innovations more compelling than ever before. Matching a business’s needs and objectives with the right capability accelerates strategic growth. Continue reading…

August 28th, 2018

The Regulatory Landscape of Data Privacy

Posted at 1:00 AM ET

Here we bring together all the elements of our recent GC Capital Ideas series on the regulatory landscape of data privacy.

From the European Union’s General Data Protection Regulation (GDPR) to  the National Association of Insurance Commissioners (NAIC) Model Law and the New York State Department of Financial Services Regulation (NYDFS), to the  California Consumer Privacy Act of 2018; the eight-part series reports and analyzes the junctures of consumer privacy demands, commercial pursuits and businesses’ responsibilities.

Developments in the Data Privacy Regulatory Landscape (Introduction)

Regulatory Landscape Part I: The New Privacy Order Created by GDPR

Regulatory Landscape Part II: Extra-Territorial Application of GDPR

Regulatory Landscape Part III: New York Department of Financial Services Regulation

Regulatory Landscape Part IV: NYDFS Cybersecurity Act - Risk of Third Party Service Providers

Regulatory Landscape Part V: NAIC Model Law

Regulatory Landscape Part VI: California Consumer Privacy Law

Regulatory Landscape Part VII: Conclusion

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August 27th, 2018

The Life Insurance Industry Needs a Lifeline

Posted at 1:00 AM ET

johnwhitworth_oliverwJohn Whitworth, Partner, Oliver Wyman

Contact

The life insurance industry appears healthy enough with plenty of capital and booming sales. A quick look under the hood, however, and it becomes clear that the industry’s profitability has been declining for some time. Continue reading…

August 24th, 2018

Week’s Top Stories: August 18 - 24, 2018

Posted at 10:00 AM ET

What Capital Modeling Delivers: Capital modeling helps insurers meet the ever changing expectations of their stakeholders, from regulators to rating agencies to board members and policyholders. Since no two insurers are alike, companies need customized solutions to develop effective capital modeling.

Read the article >>


Guy Carpenter Partners with RPC Consulting to Deliver Powerful Analytic Platform to the (Re)insurance Industry: Guy Carpenter announced a multi-year, global strategic partnership with Reynolds Porter Chamberlain Consulting LLP (RPCC) to license and develop proprietary applications to run within RPCC’s Tyche software. As part of the agreement, Guy Carpenter will have exclusive access to Tyche among all insurance and reinsurance brokers, as well as certain other parties in the industry.

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Does Asset Recycling Actually Work? Global infrastructure investment needs between now and 2040 are likely to top USD 94 trillion. While governments must take the lead to meet this massive infrastructure need, they cannot fund this level of infrastructure investment alone.

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Global Insurance Prices Rise for Third Consecutive Quarter: Global commercial insurance prices rose, on average, in the second quarter of 2018, marking a third consecutive quarter of increases, according to the most recent Marsh Global Insurance Market Index. The increase in the index was driven largely by pricing for property and financial and professional insurance lines.

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Revisiting War Exclusion in Cyber Policies: With two cyberattacks labeled as being state-supported – NotPetya and WannaCry attributed to support from Russian and North Korean governments, respectively – insurers and insurance buyers should begin a discussion about the wording of war exclusion in cyber insurance policies.

Read the article >>


And, you may have missed..

Being Prepared for Cyber Terrorism: Cyberattacks backed by hostile governments are increasingly a reality; companies should adopt strategies to strengthen cyber resilience.

Read the article >>


Click here to register to receive email updates >>

August 23rd, 2018

Revisiting War Exclusion in Cyber Policies

Posted at 1:00 AM ET

With two cyberattacks labeled as being state-supported – NotPetya and WannaCry attributed to support from Russian and North Korean governments, respectively – insurers and insurance buyers should begin a discussion about the wording of war exclusion in cyber insurance policies.

Continue reading…

August 22nd, 2018

Guy Carpenter Partners with RPC Consulting to Deliver Powerful Analytic Platform to the (Re)insurance Industry

Posted at 8:00 AM ET

Guy Carpenter announced a multi-year, global strategic partnership with Reynolds Porter Chamberlain Consulting LLP (RPCC) to license and develop proprietary applications to run within RPCC’s Tyche software. As part of the agreement, Guy Carpenter will have exclusive access to Tyche among all insurance and reinsurance brokers, as well as certain other parties in the industry.

Continue reading…

August 21st, 2018

What Capital Modeling Delivers

Posted at 1:00 AM ET

Capital modeling helps insurers meet the ever changing expectations of their stakeholders, from regulators to rating agencies to board members and policyholders. Since no two insurers are alike, companies need customized solutions to develop effective capital modeling.

Continue reading…