A global survey carried out by ORX, an operational risk association for the financial services industry, over 160 senior risk professionals from banks and insurers has revealed that the risk landscape look nothing like what they had expected it to be in 2020 due to the coronavirus.
Great Eastern, in partnership with telehealth provider Doctor Anywhere, has launched an insurance product targeted at self-employed, freelance, and gig economy workers in Singapore, in light of COVID-19.
The insurance sector has a long history of relying on paperwork, and the balance between automation and human contact has been grappled with for several years – however, according to FinTechNZ members, the ongoing pandemic has highlighted the areas which would most benefit from change.
Sompo Japan Insurance is reportedly planning to launch a new cyber product by next year, designed for companies with factories exposed to the internet of things (IoT).
The rise in remote working due to the COVID-19 pandemic will increase the risk of cyberattacks, giving insurers an opportunity to improve their cyber insurance penetration rate, according to analytics firm GlobalData.
The COVID-19 pandemic has led to high unemployment levels globally and this means that insurance providers will struggle to convince policyholders to keep policies, said data and analytics firm GlobalData in a recent commentary.
Specialist insurer Beazley has launched a contingency policy designed to cover event organizers if a transmission failure disrupts or cancels a live virtual event.
Two giants of their respective industries have announced a new partnership – with AXA to team up with Western Union. The move will see AXA provide insurance products to the money movement firm’s customers via its online service.
China Pacific Insurance Group (CPIC) has been successfully listed and commenced trading on the Shanghai segment of the main market of the London Stock Exchange.
Emerging markets will invest $2.2tn in infrastructure annually over the next 20 years, equal to 3.9% of GDP, according to estimates in the latest sigma report released by Swiss Re Institute.
