News - Technology








5 basic steps to build a robust cyber security system, according Zurich Insurance

Alike any journey which, as long as it might be, begins always with a first step, developing a good cybersecurity program, as complex as this might become, begins with a number of simple, basic actions. In fact, building the cyber resilience of a company is a real journey, starting from building a culture of awareness, going through adopting a mindset of resilience so that in the end, besides having in place a business continuity plan, a disaster recovery or incident response, but also practice it on a regular basis so that it becomes a "second nature".

KPMG: a guide to Intelligent Automation implementation in insurance

Insurers need to think about Intelligent Automation (AI) not as a technology implementation, but as an end-to-end business transformation that will impact the business model, operating model and ecosystem, states a recent report launched by KPMG, "The Automated Insurer: Next steps on the journey to intelligent automation."


Mistakes App Developers Should Avoid

by Rilind ELEZAJ
In this techno savvy era, a smart device has become the most important instrument that performs numerous tasks in the age we are living in. Our transition and full integration of mobile technology shows that it is to here to stay and evolve.




Tech-driven insurance solutions to help bridge the USD 180 billion protection gap

2017 was an extreme year for natural disasters, with total losses from natural and man-made disasters expected to amount to USD 306 billion - up from USD 187 billion in 2016. The recent disasters draw attention to the enormous gap between what's insured, and what's not - we call this the protection gap, reads an analysis published by Swiss Re as part World Economic Forum Annual Meeting.

Can InsureTech survive in the GDPR era?

Insurers must be cautious in using the latest AI technologies, as GDPR introduces a series of obligations for the controllers, aimed at safeguarding the rights and freedoms of data subject. In the following article, we will address the most significant risks that the use of such technologies pose from the perspective of data protection.

Insurance digitalization: how to avoid disapointment?

Price pressure is the biggest barrier to revenue growth, said almost half of the 46 global insurers interviewed by Simon-Kucher & Partners for the 2017 Global Pricing and Sales Study. A third of them also stated that most planned price increases are slashed or not implemented at all.

How technology impacts the insurance sector

Rather than merely adding value to the insurance sector, technology and technical innovations are now determining its very growth and evolution. The last few years have seen mobile devices, GPS functionality and social media engagement impact hugely as to how insurance claims are processed by companies and policies assessed by insurance agents. Analysis of data and the value of legitimate customer interactions is more important than ever and have helped insurance companies to maximize profits while keeping the customers happy.

FRISS: Uncovering insurance fraudsters

If you compare the insurance fraud business to other types of business, it pays off to commit insurance fraud. The benefits are great, the chances of being caught are low, and the sanctions you get once caught are low as well. So, whether working in the claims, financial, underwriting or SIU department; you will all deal with fraud at some point. And it does not stop at an organization or a border. Fraudsters do market research. They use different modus operandi, use different insurers, fake identities; just to make sure that they don't get caught.

Technology and data: Focus on the good we can do

Technology. The press is covering it, everyone is talking about it and we, as an industry, are spending time and money investing in it. For all this reasons and more, we will shortly talk about this topic at our Swiss Re L&H Conference in Warsaw in May: "Think tomorrow! Innovative solutions for our industry."