The global insurance market, a multifaceted landscape of risk transfer, has esteemed growth with the current valuation exceeding trillions of dollars. Steady population growth, increments in asset values, and rising risk awareness, represent central engines of this growth. Evidently, the market's scale represents vast business possibilities given the scope of...
Discover more insightsThe insurance domain is witnessing a noteworthy shift with an increasing predilection for warranty and direct insurance markets. Foremost among the influencing trends is the advent of digitalization, facilitating instant policy issuance, swift claim settlement, and enhanced customer service delivery. Concurrently, a surge in consumer awareness regarding the benefits of...
Discover more insightsGlobalization has notably transformed the terrain of direct insurance. With supernormal competitive intensity, increased market mobility, and a rising need for cross-border services, direct insurers are obligated to rethink their strategies. The advent of technology has further enabled this globalization, disrupting traditional models. The digitization wave has pushed companies to...
Discover more insightsThe COVID-19 pandemic has brought unprecedented disruption to the global insurance market. FAQs range from abnormally high health insurance claims, to a slump in demand for travel and motor insurance due to global lockdowns. The uncertainty revolving around the pandemic duration has considerably restrained industry growth.
Discover more insightsThe global extended warranty market is fraught with challenges hinged on regulatory shifts, and technology-driven disruptive models. The market wrestles especially with the need for regulatory compliance across multiple jurisdictions and creating customer-centric warranty packages. Additionally, as products become more technologically advanced, offering corresponding warranties that cover potential mechanical or...
Discover more insightsEmerging technologies are progressively reshaping the means of uncovering illicit operations in the insurance industry. AI and machine learning are expected to be at the forefront, offering advanced, intelligent analytics capabilities. These technologies enable real-time detection and prediction of fraudulent activities, thereby reducing losses and bolstering efficiency. Deep learning algorithms...
Discover more insightsThe executive function of the treasury in an organization, often seen as dealing solely with the management of liquidity, actually has far-reaching implications in risk management. The treasury is pivotal in supporting a business's strategic operations by administrating its financial risks. Its tasks include the identification, measurement, and management of...
Discover more insightsThe personal insurance sector is experiencing noteworthy shifts in demographic profiles, and these variations are catalyzing changes in insurance needs and preferences. Adjustments in population age structure, particularly with the rise of millennials and generation Z, are engendering new product needs. These generations are digital natives, reinforcing the need for...
Discover more insightsOver the past few years, the global insurance market, encompassing both life and non-life sectors, has experienced considerable growth. Technology advancements, increasing consumer awareness, and a more substantial emphasis on financial security have been major contributing factors. Policy enhancements and digitalization of services, in particular, have led to improved customer...
Discover more insightsWithin the insurance sector, technology is playing a pivotal role in transforming traditional distribution models. AI-based recommendation engine technologies and machine learning are driving the surge in automated underwriting, leading to personalized policy generation and issuing. Blockchain makes peer-to-peer insurance models, aiding in the decentralization of policy management which enhances...
Discover more insightsDemographics are progressively impacting the insurance industry as different age groups exhibit diverse risk behaviors and purchasing habits. The aging population, for instance, is promoting a rise in demand for health and pension insurances. In contrast, millennials and Gen Zers, more receptive to digital offerings, are driving innovations in distribution...
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