The world is in a process of accelerated change of complex systems. Insurance companies have to deal with new risks and try to make them insurable. They are facing risks related to natural catastrophes and climate change, terrorism, liability, mortality and genetic technology and nanotechnology. ...
INSURANCE THEORY AND CHALLENGES FACING THE DEVELOPMENT OF MICROINSURANCE MARKETS Microinsurance institutions and instruments have developed rapidly over the last decade, with policies covering tens of millions at the base of the economi... JC Brau,C Merrill,KB Staking - 《Journal of Developmental Entrep...
The three issues that got the most air time on the insurance industry’s Q3 earnings calls—social inflation, climate change and economic inflation—have one thing in common: they are exogenous factors, externals over which the industry has little control. The industry is not suffering from poor...
A recentMcKinsey reportindicates that Ecosystems will account for 30 percent of global revenues by 2025. That’s surely a threat to the whole insurance industry since today insurers act primarily as risk aggregators with a passive and sporadic relationship with customers, and therefore are very vuln...
insurance industry and the ramifications and impact of these initiatives. In future weeks, I’ll offer my insights into how other industries are confronting rising security and compliance risks. Before we dive in, let me provide a little context into why I think we...
This paper presents the regulatory dissonance that exists between the non-life insurance industry in the U. S. and India. It attempts to highlight the regulatory dissonance that exists in the business line definition area, accounting treatment of acquisition expenses, treatment of unearned premiums,...
RESILIENCE OF INDUSTRY, SERVICES China's value-added industrial output of major enterprises went up 6.4 percent year on year in the first quarter of the year (Q1), contributing to 2.1 percentage points of the economic growth, data from the National Bureau of Statistics (NBS) shows. ...
For insurance to provide DRR and CCA benefits, there is a need for the insurance industry to first address the traditional issues that are hindering its effectiveness. From the discussion in this report, it is evident that the traditional insurance programs impose a huge financial burden on the ...
Insurancecompaniestodayfaceseveralchallenges,includingshrinkingmargins,regulatorydemands,andindustryconsolidation.Inaddition,demandsfrombothshareholdersandinternalstakeholdersarerequiringathoroughexaminationofexistingbusinessmodels.Inordertostaycompetitive,insurancecompaniesneedtotransformtheirprocessesandoperations,improveprofitability...
In Beijing, policy funds of no less than 150 billion yuan are expected to be issued to support market entities in 2022, according to the People's Bank of China. Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, also noted at an interview earlier this month ...