Treat your home like your car and maintain it regularly to stay safer in cyclones or strong winds. That’s some of the advice Adjunct Associate Professor Geoff Boughton, from James Cook University’s Cyclone Testing Station (CTS), will share with delegates in a panel session at the AIDA XVI World … [Read more...] about Home maintenance minimises wind-event risks
Automation increases insurance fraud detection
Fraudulent claims are a key driver for increased insurance premiums, prompting a data analytics company to suggest ways to reduce the burgeoning costs. The Insurance Fraud Bureau of Australia, part of the Insurance Council of Australia, estimates fraud costs the insurance industry up to $2.2 … [Read more...] about Automation increases insurance fraud detection
New entity helps SMEs get cyber insurance ready
A new business has been established to cost effectively help companies on their pathway to obtaining cyber insurance. Sydney-based cyberSuite Pty Ltd offers a range of services, including data protection and privacy advice, cyber health checks, pathways to cyber insurance, cyber breach coaching, … [Read more...] about New entity helps SMEs get cyber insurance ready
Tips for insurers managing digital transformation on a budget
Many insurance organisations struggle to implement digital transformation on a tight budget. Ian Chisholm, a partner with Frazer Walker, a Sydney-based management and technology consultancy, says digital transformation needs a well-considered business model, the right skill sets and capabilities … [Read more...] about Tips for insurers managing digital transformation on a budget
Smart devices ‘transform insurance’
From smart home devices and connected vehicles to wearable health-monitoring devices, the internet of things (IoT) is transforming insurance. Prateek Vijayvergia, Senior Vice President, Technology Services, with the global insurance-focused consulting and insurtech company Xceedance, says IoT … [Read more...] about Smart devices ‘transform insurance’
ESG requirements revolutionise insurance buying
The commitment to environmental, social and corporate governance (ESG) frameworks is changing how insurance is sold. An insurance buyer, an insurer, a reinsurer and a broker will explore the commercial reality of ESG in a panel session at the AIDA XVI World Insurance Congress Australia (WICA … [Read more...] about ESG requirements revolutionise insurance buying
Unpredictable weather pushes insureds to parametric products
Australia’s unpredictable weather patterns are prompting insureds to turn to parametric insurance, says Ben Qin, Head of North Asia & Australia with Descartes Underwriting. He says the repeated floods and massive rainstorms that have plagued much of the nation for three years are now likely … [Read more...] about Unpredictable weather pushes insureds to parametric products
AILA seeks applicants for annual public speaking award
The Australian Insurance Law Association is calling for applications for its annual Ron Shorter Award, a public speaking competition for young professionals in the insurance industry. The award is open to those aged 35 and under. Applicants should apply online before 28 April 2023 and nominate an … [Read more...] about AILA seeks applicants for annual public speaking award