Regulation changes, such as the National Federal Insurance Program’s (NFIP) new model, can catch brokers, underwriters, and risk managers unawares. Be prepared, proactive, and protected by staying ahead of the curve and identifying the cascading impacts of shifts in regulations.
Communication gaps in the #insuranceindustry grow when risk and insurance professionals don’t have effective ways to unify internal data. Automating, standardizing, and cataloging property risk data is a crucial first step in empowering your teams.
The success of great #insurtech is striking the right balance between building efficiencies with allowing for human judgment. Improved data insights support better policy decisions, combining risk and insurance experience with advanced analytics.
Power outages and flooding are two of several major risks to track as Hurricane Nichols made landfall in Texas earlier today, becoming the 6th hurricane of the 2021 #hurricaneseason. With over $30bn damages expected after Hurricane Ida, risk and insurance professionals must take extra diligence in preparing for and responding to severe weather events with real-time notifications and granular insights.
An insurance industry leader states “[t]he challenge of insurtech is making insurance exciting to consumers.” At Maptycs, we believe the challenge of #insurtech is making insurance meaningful.
Insurtech cannot replace the knowledge and experience of talented risk and insurance professionals. As an #insurtech company, a core ethos of Maptycs has been to enhance the capability and support the insurance industry become more relevant to their clients’ needs, not replace them.
#insuranceindustry #risktech #riskmanagement
Geospatial data uniquely provides new opportunities for insurers and policyholders to evaluate and cover new and emerging risks, especially in industries that have traditionally not been covered effectively.
Real-time evaluations of Hurricane Ida have allowed insurers to prioritize those most impacted by storm damages and effectively allocate resources. Proactive preparation for severe weather events dramatically helps mitigate losses, and while the damage from Hurricane Ida is extensive, initial reports show that Ida has been significantly lower than Hurricane Katrina.
P&C premiums are projected to almost double over the next two decades due to climate risks, according to a new report by Swiss Re. For risk and insurance professionals able to provide relevant insurance products, the expected jump provides an opportunity – and a need – to innovate their offerings to support the escalating property risks.
Human relationships and data relationships should work in harmony with one another, not in conflict. Great #insurtech bridges the gap.#risktech #riskmanagement...