by Oladele Akinsanya, Head Of Products - Performance, Improvement & Development, Custodian Life Assurance Limited
As the business world recovers from the effects of Covid, the insurance industry will play a pivotal role in the new world, amidst the envisaged growth momentum, inflation, digitisation, climate change, health awareness, income disparity etc. The industry is projected by SwissRe to grow at about 3.9% in 2022.
The path to disrupting the market with a simpler, more frictionless purchase journey
by Tonya Blackmore, Head Of AURA & Global Digital Underwriting, RGA
1. The Wearables Opportunity
While the pandemic has certainly impacted mental health, available evidence to date suggests that suicide rates globally have not increased. RGA examines the evidence, cautions that the pandemic’s long-term effects on suicide are still evolving, and suggests the insurance industry has a significant role to play in suicide awareness and prevention moving forward.
The world economy regained macroeconomic resilience in 2021, benefiting from the cyclical rebound from the COVID-19 crisis and rising long-dated interest rates during the year. However, we estimate that the resilience lost in the 2020 COVID-19 crisis will only be recouped this year, and any economic deterioration in the coming months may throw the recovery off course.
Explore AM Best’s extensive analysis on how global reinsurance companies have shifted their business mix into casualty and specialty primary lines, where pricing movement is still positive, due to increased losses from natural catastrophe events, secondary perils, pandemic impacts and economic uncertainty. Additional topics include AM Best’s annual ranking of the Top 50 global reinsurance groups, in-depth looks at the insurance-linked securities, Lloyd’s, life reinsurance, mortgage and regional reinsurance markets.
In this Milliman white paper, learn how government-sponsored catastrophe bonds can be a solution to help protect developing nations from the financial devastation of natural disasters and build greater climate resilience for these at-risk countries.
While supply chain risk is not new, the perfect storm of a pandemic, worldwide inflation and the war in Ukraine is creating never-before-seen issues across the entire spectrum of business. From breach of contract, to product liabilities, worker injuries, and more, supply chain disruption introduces a host of insurance risks to be aware of—Liberty Mutual can help.
Flood was a common factor among the major global loss events of 2021, and a peril risk managers and the industry should pay close attention to going forward, according to the latest sigma report from the Swiss Re Institute.
Overall, natural and man-made disasters in 2021 resulted in global economic losses of USD $280 billion, the sixth highest on sigma records. Insurance covered USD $119 billion, the fourth highest on record.
This e-book highlights ways in which the insurance industry can build a digital business continuity plan in the face of unpredictable events.
See how life insurers can take a concrete approach to climate risk management through these case studies.
