Sensors collecting hyper-localized data on dozens of environmental factors are helping to build a better understanding of exposure to extreme weather events, and giving insureds more opportunities to predict and prevent losses.
The risks the world now faces – climate change, economic instability, political crises, cyber crime, supply chain disruptions – are overlapping and amplifying each other.
There are numerous underwriting options open to specialty insurers these days. Finding the talent, technology and reinsurance support to take advantage of them will be the key to success.
“A cyber event doesn’t hit the entire world at once; it starts in one spot and slowly spreads, much like a virus. However, it can be fought, just like your body fights a virus.”