Moving to the cloud is reshaping the insurance industry

whitePaper | December 19, 2022

Customers are now accustomed to digital-first interactions, with Gen-X in particular expecting a frictionless experience. As a result, brokers are having to rethink how they engage with customers in order to meet these expectations. Increasing competition from a fast-changing industry – through consolidation and new independent digital-only providers – means they must improve customer satisfaction to stay in the game. Ultimately, broker business success relies on engendering long-term relationships with customers (and partners) based on trust.

whitePaper | May 20, 2022

Anticipating the risks of tomorrow is embedded in our DNA at Munich Re, which is why we have been involved in managing cyber risk from the first moment it became a consideration - and continue to keep pace with its lightning-fast development. As the challenges this risk class poses to the global economy grow, we, and the insurance industry as a whole, need to provide proper solutions capable of addressing risk capacity and sustainability for this line of business. The numbers clearly show that the need for cyber security and insurance is increasing steadily: Munich Re estimates global cyber premiums to be $9.2 billion (beginning of 2022) and expects that they will reach approximately $22 billion by 2025. Given the ever-increasing frequency and severity of cyber-attacks, our survey reveals that the insurance gap is disproportionately high. And the mismatch between risk awareness and implementation of protection measures and the need for more capacity for larger risks remains a real challenge in what is an increasingly difficult environment for the entire insurance industry.

whitePaper | September 20, 2022

When it comes to major events that impact people, economies and environments, insurance is firmly on the frontline. In the last few years, the industry — traditionally slow to modernise — has been reinventing strategies and working models to meet the demands of the changing global landscape, from the pandemic to economic and political instability. Acceleration of digital transformation has become a priority because it directly impacts current strategic imperatives — customer focus, operational simplification, financial sustainability and innovation. But despite the drive for change, the same challenges that have historically held back insurance providers are yet to be overcome. Legacy systems, data and processes can be difficult and expensive to modernise, and bringing in new technologies to solve these issues can create more problems when they are layered on top of the old.

whitePaper | July 31, 2022

The Covid-19 pandemic spurred new demand for insured municipal bonds, and the strong interest appears poised to continue as investors team with states and local governments to help execute the largest wave of U.S. infrastructure investment in a generation. Amidst the uncertainty surrounding municipal fiscal stability and an increase in taxable debt issuance immediately following the outbreak, wrapped bonds offered investors stable ratings, increased liquidity and less volatility. Since then, the market has faced more prolonged volatility brought on by questions about the outlook for inflation, economic growth, and other factors like climate change. Insurance remains a valuable tool for investors and issuers to maintain reliable, affordable capital markets access and peace of mind.

whitePaper | June 9, 2022

We are pleased to present the results of our second annual survey on property risk management from Archipelago and Advisen Ltd., a Zywave company. The survey took place during the first quarter of 2022 and was distributed to risk managers, insurance buyers and other risk professionals. In total, the survey received 209 responses. The data presented in the report focuses on responses from 187 risk managers who reported having a property portfolio greater than $100 million in total insured value (TIV). We sincerely thank all survey respondents for their valuable time and insights.

whitePaper | August 24, 2022

Commercial insurance has traditionally protected businesses from a wide range of unexpected circumstances. These circumstances underwent significant change during the pandemic, with the move to remote work and plans for business continuity. But these are not the only coverages affected by the pandemic. Cyber security threats have also spiralled.