Insurance weekly News: CV 21

Overview of the latest insurance news

#Insurance

DSGVO at a glance: Companies are lagging behind (DE)

According to a current survey by the digital association Bitkom, only a quarter (24 percent) of companies consider themselves sufficiently prepared for the new regulations of the Basic Data Protection Ordinance (DSGVO). The DSGVO also means an immense effort for insurers. http://versicherungswirtschaft-heute.de/maerkte-vertrieb/unternehmen-hinken-bei-dsgvo-deutlich-hinterher/

How risk perceptions drive the demand for commercial insurance

According to several studies, companies are more concerned about cyber risks and risks from new technologies. Innovative insurance solutions can close protection gaps in conventional policies resulting from insurance exclusions or restrictions. https://www.linkedin.com/pulse/how-risk-perceptions-drive-demand-commercial-thomas-holzheu/

Death of segmentation in the insurance industry?

The “Big Data” hype has already flattened out, but the effects on the commercial insurance industry are unmistakable. When used correctly, they help insurers differentiate themselves from their competitors and help insurers understand their customers as individuals and not just as categories. https://www.insurancebusinessmag.com/uk/news/breaking-news/death-of-segmentation-in-the-insurance-industry-100725.aspx

Japan: Insurers readying cover for self-driving vehicles

Even if self-propelled cars are still dreams of the future: Japanese insurers are already preparing to insure self-propelled vehicles to pave the way for these next generation cars. http://www3.asiainsurancereview.com/News/View-NewsLetter-Article/id/42874/Type/eDaily/Japan-Insurers-readying-cover-for-self-driving-vehicles/1/sid/242607

#Digitalisierung

Is Cloud Computing enabling digital transformation? (DE)

The topic of cloud computing is also attracting interest in industrial and commercial insurance. However, insurers have so far been rather cautious when it comes to concrete implementation in their own homes. The migration of core processes such as policymaking and claims management into the cloud has great potential. https://blog.versicherungsforen.net/2018/05/cloud-als-enabler-fuer-digitale-transformation

#Underwriting

How cyber insurance frees itself from blockades (DE)

Business with cyber insurance is slow in Germany. This is mainly due to the complicated risk analysis, which is complex for insurers and not always transparent for policyholders. With the use of electronic rating tools, the first insurance companies are now putting things right. http://versicherungswirtschaft-heute.de/maerkte-vertrieb/wie-sich-die-cyber-versicherung-von-blockaden-befreit/

Picture source: Pixabay

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