While there’s plenty of hype and money behind the insurtech revolution, carriers are enthusiastic about digital transformation and won’t be caught by surprise as their industry evolves.
Insurers are consuming an ever-increasing amount of data from internal and external sources in their quests to more accurately price risks. But that’s putting a lot of pressure on underwriters.
Global standalone cyber insurance premiums reached $1.7bn in 2015 in a market still in its infancy, according to a study conducted by Aon.
Norwegian carrier Protector Forsikring is the insurer for the block of flats in west London that was engulfed by a tragic fire in the early hours of Wednesday morning (14 June), according to reports.
Hamilton Re has announced the launch of its first special purpose vehicle (SPV), Turing Re, which will provide $65mn of collateralised capacity for its global reinsurance portfolio.