Pandemic and epidemic events cause losses to the insurance industry not only through insurance claims but also through disturbances to social and economic activities.
Simulating the Unpredictable: A Guide to Pandemic-Driven Scenario Generation
Behind the Scenes at COP27 in Egypt
Have you ever wondered what happens at the Conference of the Parties (COP), the United Nations’ annual climate change summit? I was asked by the International Actuarial Association (IAA) to attend COP27 in Egypt in November 2022. Here’s what I learned.
CIA statement – Big data’s position in insurance ratemaking
Earlier this year, the Canadian Institute of Actuaries (CIA) issued a statement on the growing interest in using big data in insurance ratemaking.
Finding the balance: Personalization of risk and risk pooling
The latest buzz phrase in the insurance industry is “embedded insurance,” which presents an opportunity to seamlessly offer protection in real time given a proactive approach to risk management. Underpinning embedded insurance is the ability to personalize insurance. This requires that customers understand the necessity of sharing more data with their insurance providers.
Survey of Emerging Risks – Risk Combinations
When risk managers are thinking about risks, cognitive biases that focus on recent risks often come into play. Train yourself to think with a longer time horizon, strategically, and in a way that allows risks to interact in combination with one other. The companies that encourage this are more likely to survive and make better decisions that allow them to thrive.
