The flood insurance protection gap in the United States is massive, but the take-up rate of private flood insurance continues to be low. The relative inability of private insurers to penetrate the flood insurance market has been blamed on the …
Cyber insurance is a market with enormous growth potential – but one that also has the potential to become a costly, worldwide event in a matter of seconds. Unlike natural catastrophes, cyber isn’t limited to geographic regions. It’s a risk …
Many reinsurance executives have been left scratching their heads in surprise after last year’s natural catastrophes, which cost a whopping $100 billion but ended up having very little impact on rates. The insurance and reinsurance market isn’t behaving as it …
The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss (XOL) contract and asked the industry to help test it. The initial results are in. Months of testing …
Insurtech is often touted as the cure that will solve the insurance industry’s inefficient and antiquated processes – from distribution, to underwriting, to claims. While many insurers want to investigate the benefits of insurtech partnerships, most don’t have the first …
