The lack of relevant and credible cyber insurance data remains a challenge for the London Market, making it difficult to make informed decisions around cyber risk.
The future of claims is about elevating the customer experience, and insurers that aggressively pursue digital enablement today will be primed to excel tomorrow.
Digital technology has become critical to provide core claims services during lockdown. Verisk is at the forefront in this field with a full range of claims solutions.
Despite the challenges of the pandemic, it has also kickstarted operational and societal changes that have showcased that Lloyd's can adapt to a more digital environment.
How Lloyd’s syndicates can identify and measure aggregations of insurance risk.
As the FCA signposting rules encourage insurers to direct potential business elsewhere, insurers may need to re-evaluate their cover.
ADAS features are becoming increasingly common in cars in the UK and Ireland, however insurers face challenges in obtaining accurate and meaningful data.
With storms Ciara, Dennis, and Jorge all contributing to the wettest February on record, it’s time for insurers to test whether their perils models are fit for purpose.
Crucial questions remain over whether insurers have in-house capacity and expertise to develop fit-for-purpose solutions, or if they should opt for an industry partner.
Learn common ways underwriters might suffer from inaccurate rates, higher loss ratios or unexpected claims costs due to missing or misstated underwriting information.
The impact of the UK personal injury reforms, now set to take effect in August, is uncertain. The small claims track limit is expected to increase from £1,000 to £5,000.
While the world faces logistical challenges from COVID-19, insurance claims will continue to occur, and weather-related catastrophes will not abate due to the disease.