Data and information management

By facilitating access to rich, unstructured data in real-time, technology is paving the way for insurers to employ greater personalization and become customer-centric. It can drive tremendous growth opportunities as well as cost and operational efficiencies by promoting wellbeing and prevention services.

In 2021, the insurance industry reckoned with the broad impact of the COVID-19 pandemic. Appropriately, 2022 will need to be the year that agencies and carriers pivot from reacting and surviving to implement new strategies for success.

Not only is digital technology changing but so is the regulatory landscape. Some U.S. states have passed laws that will lead the insurance industry to take a fresh look at technology such as Bluetooth and navigation because they capture significant amounts of personal information from drivers and occupants.

In other news: Chubb teams up with Betterfly in Latin America; Franklin Mutual partners with vipHomeLink; Aon announces last-mile insurance with CarrierHQ.

Digital Insurance spoke with Thomas Kang, the North American head of cyber technology and media for Allianz Global Corporate & Speciality about cyber insurance trends and challenges ahead for the industry.

Rackspace survey reveals how insurers are looking to operationalize cybersecurity in the digital era.

There are many important legal issues to consider when operating in the heavily regulated and ever-changing insurance ecosystem. Discussed are some of the key issues to consider when contracting, to demonstrate what is truly important and where insurtechs should focus, whether it concerns program administrator agreements or other types of partnership, master services, or marketing agreements.

In other news: Zurich releases cyber risk survey results; Hertz and Uber to add 50,000 Teslas to network; Amica selects Shift Technology.

That’s the takeaway from an Aon Plc survey of 2,344 risk managers, chief risk officers and chief financial officers conducted in the second quarter. Cyber attacks were the No. 1 most-cited hazard, and more than half of the Top 10 risks executives say they face today are tied to the pandemic, according to survey results released Tuesday.

The number of cyber insurance claims AGCS has seen has increased in the past few years, following along with general cyber risk trends. In 2020, the company received more than 1,000 in total, compared to 80 in 2016. This trend has continued into 2021.