DATA-DRIVEN CYBER INSURANCE UNDERWRITING IS STILL ELUSIVE

NADINE MOORE | August 1, 2018

article image
Right now, data-driven underwriting in cyber insurance is elusive, and at some point, losses will catch up with carriers that aren’t using risk-based pricing. It’s impossible to predict the point at which losses exceed premiums. But the pivot might come sooner, rather than later. Consider that the Financial Times reports that the market is hardening and that in 2017, AIG’s Europe, Middle East, and Africa business received as many cyber claims as in the previous four years combined.

Spotlight

Vault

At Vault, our mission is simple, but ambitious: build a company, culture and philosophy that put your needs at the center of everything we do. We are single minded in our goal: protect the things that are important to you and enable your lifestyle no matter what, when or where that may be.

OTHER ARTICLES

Digital transformation in the Insurance industry: are you there?

Article | April 1, 2020

The insurance industry is powered by vast and growing volumes of data and stands to benefit from eliminating the manual processes and workflows that other industries have already replaced. While the largest insurers can easily afford the new technologies and digital transformations necessary to stay competitive, smaller and mid-size organizations are struggling. If they don’t finish the task of transitioning away from paper-based, manual processes they risk falling behind and losing money.

Read More

Data & Analytics: An Insurance Perspective

Article | April 1, 2020

Technology has changed the way we live our lives and, as a consequence, the way we do business. Within the span of barely a decade, the smartphone has become almost part of us and the use of mobile apps and digital interactions have contributed to many industries transforming their operations.

Read More

Coronavirus and insurance: threat or opportunity?

Article | April 1, 2020

The world is facing an unprecedented situation like never before. In the span of a couple of weeks, a visually undetectable virus has wreaked havoc and driven everyone home. COVID-19 had led offices to close, the economy to slow down, and has isolated us in our homes. Zooming in on the insurance industry, the effects haven’t gone unnoticed here either. Since no one was prepared for a pandemic of this scale, people are scrambling to know what their insurance covers. Those who weren’t covered are enquiring if they can get covered now. Travel and health insurance are the specific types are making the most news.

Read More

5 Deep Learning Use Cases for the Insurance Industry

Article | April 1, 2020

In 2010, with the launch of the Image Net Competition, a vast dataset of about 14 million labeled images was made open-source to inspire the development of cutting-edge image classifiers. This was when Deep Learning technology got it’s a real breakthrough and since then there’s been no looking back for advancements in this field.

Read More

Spotlight

Vault

At Vault, our mission is simple, but ambitious: build a company, culture and philosophy that put your needs at the center of everything we do. We are single minded in our goal: protect the things that are important to you and enable your lifestyle no matter what, when or where that may be.

Events