"With the hurricane, you knew when and at what time it would arrive," Puerto Rico, Guayanilla resident Tatiana Rodriguez, 28, said, adding of the quakes, "This, you don't know at what time it's going to happen." This is the un-happy experience reported by CNN of many people this week in Puerto Rico.
With earthquakes back in the news from Puerto Rico with a 6.4 Magnitude shock and many aftershocks, this got me thinking about how we can respond with insurance and what warnings people get.
Is there any 'community' in insurance? When many industries are all trying to help those in need or to raise awareness of good causes, why does insurance fail at this - the one product designed to help and support communities in their time of need?
The sharing economy is here to stay and was one of the fastest growing business trends of the last decade, although at this point in time it’s impossible to know the actual size of the sharing economy because many of the companies are private and don’t publish their full business results.
There is a sea change coming to Insurance, this sea change is about AI, its been talked about for a few year but now it is coming. The big promise is that it will be used to improve process in dealing with claims pricing, and placing insurance. It will open up a sea change in innovation.
Posted in MicroInsurance blog on Oct 22, 2019
Brokerslink global insurance conference. Another successful year of growth.
Posted in MicroInsurance blog on Aug 31, 2019
Oh! - Darling, you got to let me know - Should I stay or should I go? - If you say that you are mine - I'll be here till the end of time - So you got to let me know - Should I stay or should I go? The Clash, not quite the soundtrack people will be listening to with Dorian expected to make landfall on Tuesday. But the sentiment will be well known to Florida residents as they are engaged in a complex, high-stakes set of financial, logistical and psychological calculations of whether to stay or go.
Studies have proven that high insurance penetration significantly reduces or even balances out the negative effects of catastrophic events economically. The positive economic effect of risk transfer is thus particularly strong in emerging economies. What use case is there for this and what can insurance companies do to help drive higher insurance adoption rates?
The sharing economy is growing up fast, message is that the growth will reach or surpass PwC’s projections which show that five key sharing sectors—travel, car sharing, finance, staffing, and music and video streaming — have the potential to increase global revenues from roughly $15 billion in 2015 to around $335 billion by 2025. Massive growth.
Is Artificial Intelligence (AI) taking over everything? Do we have to fear or welcome this new AI tech? Is the reality that AI Augmentation more deliverable and welcoming?