General Insurance news and articles written by acturies for actuaries - read the latest research pieces, today's news and latest articles in the non-life market.

Does your insurer WhatsApp you?

By Ben Bengtson, Senior Vice President, Global Insurance Leader, Cognizant

Messaging apps build customer loyalty by providing an interpersonal transaction and demystifying the traditional back office-processing. Effectively, mobile messaging can become the tool of new-age distribution, digital marketing, after-sales service and customer support. In fact, what was first recognised by entrepreneurs as an inexpensive way for businesses to stay connected with their customers has become a medium of choice for some big players. For instance, Dutch insurer Ditzo is partnering with WhatsApp for claims, allowing customers to ask questions about their insurance via the messaging application.

WhatsApp has now also recognised the potential messenger apps have for organisations, announcing it will drop subscription fees for users. It will instead focus on earning revenue by monetising communication between businesses and individuals.

Why has a tool, initially conceived for the general public, become important for business?
For insurers, instant mobile messaging opens a new channel of communication, whilst reducing operational costs and turnaround time. Messaging also improves their marketing, sales and customer service. It can help overcome challenges such as the need to educate a...Read More

Considering the Risk of Self-Driving Cars

By Tim Marlow, Head of Autonomous & Connected Vehicle Research at Ageas
 
Self-Driving Cars – Risk Considerations for Forthcoming ‘Level 3’ Conditional Automation Vehicles
 
There are a number of definitions of vehicle automation or autonomy but probably the most relevant is the six level system defined by The Society of Automotive Engineers (SAE) – from Level 0 (a manual vehicle with no automation) through to Level 5 (Fully Automated with no manual input). We need to understand how these levels of autonomy impact risk and whether risk actually redu...Read More

The Solvency II Regime: Moving from Build to Reform

By Barney Wanstall, Director, Insurance, PwC and Twewah Marfo, PwC
You may ask what the Forth Bridge has to do with Solvency II. Well, The Forth Road Bridge is a long span suspension bridge which when opened in 1964 was the largest in the world outside of the United States. Both the Bridge and the SII Directive are undoubtedly enormous feats of human engineering. The problem with such gargantuan projects is that you can never fully future proof them; it is likely that no sooner have you completed the initial build than the maintenance programme must begin to address the rusty bits.
 
The Solven...Read More

"Generation Lost" speaks - Global Risks Report 2014

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Lifestyle Actuary

The trappings of fast paced city lifestyles rarely take into account the charm and elegance that a room, a dinner or a cup of tea can afford; characteristics lost to a by-gone era of debutante balls and black tie for dinner.

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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