Cyber Claims: GDPR and business email compromise drive greater frequencies

August 20, 2019

Business email compromise (BEC) has overtaken ransomware and data breach by hackers as the main driver of AIG EMEA1 cyber claims, according to the latest cyber claims statistics. Nearly a quarter of reported incidents in 2018 were due to business email compromise (BEC), up significantly from 11% in 2017. Ransomware, data breach by hackers and data breach due to employee negligence were the other main breach types in 2018.

Spotlight

Tawuniya

The Company for Cooperative Insurance (Tawuniya) is a Saudi Joint Stock Company established in Riyadh, Saudi Arabia by Royal Decree number M/5 of 17.4.1405H (5.4.1985 G) and was registered on January 18, 1986G (7.5.1406H) under Commercial Registration number 1010061695. Its principal lines of business include motor, marine, fire, medical, engineering, energy, aviation, takaful, and casualty insurance.

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Health Insurance top trends 2021

whitePaper | August 20, 2021

COVID-19 brought sweeping implications for all industries, but nowhere more so than in the health insurance industry. And now, firms continue to face challenges on multiple fronts as they work to meet the expectations of both members and employees. At the peak of disruption, the focus was on ensuring business continuity. These days efficiency initiatives are cropping up as insurers adapt to the new normal.

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Insurance Document Management – A Good Investment?

whitePaper | April 16, 2023

One of the most paper intensive industries is insurance industry. There are endless forms to fill, copies of proofs to be preserved, and claims to deal with on regular basis. Under the circumstances, using simple word processors, insecure repository and emails or not adopting a streamlined process of document management can have serious negative consequences.

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Insurtechs Demand A Platform Designed For Their Unique Needs

whitePaper | June 6, 2023

Claims aren’t the first consideration for most insurtechs. The focus is rightfully on back-end development, product development, and creating all the systems and workflows to bind a policy and service customers.

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Top trends in property and casualty insurance 2023

whitePaper | December 5, 2022

As we head into 2023, P&C insurers will prioritise digital transformation initiatives to navigate geopolitical risks, supply chain disruptions, sluggish growth and rising inflation. Key actions will include focusing on customer centricity, prioritising agile product innovation, embedding sustainability into corporate strategy, and building advanced digital capabilities to build a resilient, future-ready enterprise.

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Unlock the potential of embedded insurance

whitePaper | December 5, 2022

The convenience of embedded insurance is making it one of the most desirable forms of insurance distribution for all parties involved. On the demand side, consumers’ appetite for convenience — and their willingness to conduct transactions online — are both higher than ever. The technologies involved in embedding insurance coverage into other products and services have been perfected. As a result, insurers are uniquely positioned to benefit from the rise of embedded insurance.

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Top considerations for insurers in 2023

whitePaper | December 10, 2022

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

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Spotlight

Tawuniya

The Company for Cooperative Insurance (Tawuniya) is a Saudi Joint Stock Company established in Riyadh, Saudi Arabia by Royal Decree number M/5 of 17.4.1405H (5.4.1985 G) and was registered on January 18, 1986G (7.5.1406H) under Commercial Registration number 1010061695. Its principal lines of business include motor, marine, fire, medical, engineering, energy, aviation, takaful, and casualty insurance.

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