Risk

Insurers, reinsurers and brokers are already predicting increased premiums and bigger losses tied to natural catastrophes.

The carrier has achieved 90% time savings by deploying a single AI tool.

Organizations that prepare early will be better positioned to protect their people and minimize operational disruption when severe weather strikes.

AI is a limited resource, powered by even more limited resources. Carriers must not forget that, writes Jim Girard, vice president of engineering at Benekiva.

The insurers that build for execution, rather than waiting for the next tool or the next shock, will be the ones still keeping pace when the systems around them strain.

A dangerous assumption persists that existing commercial insurance portfolios will naturally absorb any liabilities arising from algorithmic failures.

Lincoln National Corp. is in advanced talks with Talcott Financial Group for a reinsurance deal that would shift billions of dollars of life insurance reserves off its balance sheet, according to people familiar with the deliberations.

AI is helping insurers navigate climate changes by taking nuances into consideration and making sense of updated weather data.

New Zealand's flood-prone homes are outperforming the rest of the country's housing market

Insurers will start relying on more advanced approaches to evaluating cyber risk, including continuous cyber risk monitoring.

The findings come as climate and weather risk is increasingly becoming part of the affordability equation for many homeowners, particularly as insurance and maintenance costs rise in vulnerable regions.

Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.

Carriers are adopting AI to improve underwriting, pricing and risk selection, but most models still rely on static data collected at a single moment in time.

The focus is on surviving such an attack, with resilient systems and processes that ensure business continuity against all odds.

Many recent deployments of AI are proving their worth in reducing costs and claims. Nationwide and Whisker Labs' Ting devices proactively prevent electrical fires; telematics data is helping truck fleets cut collision costs; and voice AI is providing faster responses to policyholders.

Legacy platforms are recognized as a growing operational and regulatory exposure, yet any attempt to modernize them is perceived as introducing even greater risk

Typhoon activity in the Northwest Pacific Ocean is expected to be the highest this year since 2015, according to commercial forecaster Tropical Storm Risk.

Reputation events are currently managed reactively by communications teams reporting using tools built for brand storytelling.