Cyber Insurance: High Risk, Huge Opportunity

| March 7, 2018

article image
According to BCG's Lucy Pilko, the need for protection against cyber risks "is clear, compelling, and growing." But insurers need to understand a lot more about the risk they are taking on as they enter this sector.

Spotlight

AAA Life Insurance Company

2019 marks the 50th anniversary of AAA Life Insurance Company. Headquartered in Livonia, Michigan, AAA Life has been offering AAA members peace of mind through our life insurance, accident and annuity products. Our products can be purchased online, over the phone, by mail or through an agent—making the purchasing process easy and convenient. We give special attention to every one of our 1.3 million active policy holders, which has earned us a reputation for outstanding customer service. As of August 1, 2018, AAA Life has been rated A (Excellent) by the credit rating agency A.M. Best (the third-highest rating out of 13), reflecting our financial strength and longevity. Life insurance underwritten by AAA Life Insurance Company, Livonia, MI. AAA Life Insurance Company (CA Certificate of Authority #07861) is licensed in all states except NY.

OTHER ARTICLES

7 Business Models of the Future for Insurers

Article | March 18, 2020

The insurance industry continues to be an enabler of innovation. Since its creation three centuries ago, it has become an essential part of the global economy — providing security and resilience to businesses and individuals alike. But the fundamentals of how it operates have barely changed. As we enter a new decade, the industry must reflect the reality of the needs of today’s businesses and society. Large commercial insurers and reinsurers, in particular, have an increasingly urgent imperative to realign their organizations and modify their offerings to include stronger preventive services against new and evolving threats, including climate change and cyber risk. There is a huge opportunity. Our latest NextWave Insurance report reveals that, should the industry act now, an unprecedented growth and profitability spike is within reach. By 2030, we project that large commercial insurers and reinsurers could experience:

Read More

6 insurtech predictions for the 2020s

Article | February 21, 2020

The insurtech movement has been underway for the better part of a decade. Now that we have entered the 2020s, it might be worth exploring what could be on the horizon for insurtech over the next ten years. Insurtech has evolved from its origins in the early part of the last decade (as an offshoot of the FinTech movement) and quickly gained momentum over the last few years to experience a strong close in 2019.

Read More

BANKS CAN TEACH INSURERS HOW TO TURN DATA INTO PROFITS

Article | April 9, 2020

Open banking rules, particularly PSD2 regulations in Europe, have forced banks to share their customer information. Some progressive lenders have turned this threat to their businesses into a big opportunity. They’re using data-sharing ecosystems to reach more customers and launch new products. They’re also teaming up with promising business partners and expanding into fresh markets.

Read More

Why Your General Contractor Business Needs Workers Compensation Insurance

Article | March 22, 2020

Having Workers Compensation Insurance for general contractors is an important part of your business. Given the nature of their work, employees are at risk of getting injured, disabled or even worse. Your business uses a lot of resources to provide your employees with a safe working environment. However, your efforts alone do not guarantee safety. Workers Compensation insurance is a great benefit package. Employees enjoy peace of mind as they work, and during recovery if they do get injured.

Read More

Spotlight

AAA Life Insurance Company

2019 marks the 50th anniversary of AAA Life Insurance Company. Headquartered in Livonia, Michigan, AAA Life has been offering AAA members peace of mind through our life insurance, accident and annuity products. Our products can be purchased online, over the phone, by mail or through an agent—making the purchasing process easy and convenient. We give special attention to every one of our 1.3 million active policy holders, which has earned us a reputation for outstanding customer service. As of August 1, 2018, AAA Life has been rated A (Excellent) by the credit rating agency A.M. Best (the third-highest rating out of 13), reflecting our financial strength and longevity. Life insurance underwritten by AAA Life Insurance Company, Livonia, MI. AAA Life Insurance Company (CA Certificate of Authority #07861) is licensed in all states except NY.

Events