Insurers protect yourselves

Insurers protect yourselves

HARARE, Given the migration of insurers to digital channels and the large amount of sensitive personal information they store, it should come as no surprise that cyberattacks are becoming increasingly prevalent. Yunus Scheepers, CTO at SilverBridge Holdings, examines the importance of cyber security.

“Providing some element of protection in the policies themselves as

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Claims in aviation are skyrocketing, in spite of better safety records

Claims in aviation are skyrocketing, in spite of better safety records

HARARE, Passengers can take a deep breath – the global airline industry has had some of its safest years in recent times when it comes to fatalities. This news comes despite a number of crashes, according to a new study from Allianz Global Corporate & Specialty (AGCS), though the report also notes that the long-term improvement

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The state of digital transformation for insurers

Fidelity 2

The state of digital transformation for insurers

HARARE, Some consider financial services firms to be at the forefront of innovation when it comes to digital transformation initiatives. Although the emergence of fintechs have resulted in incumbents transitioning into a technology-centric environment even faster than before, the challenge many of these incumbents face is to identify the

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Global Risks Report 2020: The key takeaways

Global Risks Report 2020: The key takeaways

If there was a predominant takeaway from the Global Risks Report 2020, published by the World Economic Forum in collaboration with Marsh & McLennan and Zurich Insurance Group, it was that: “The world cannot wait for the fog of geopolitical and geo-economic uncertainty to lift.”

For the first time in the 15 year history of this annual risk report,

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Asia-Pacific will bring in 42% of global insurance premiums by 2029

Asia-Pacific will bring in 42% of global insurance premiums by 2029

HARARE, Global insurance premium volumes reached a new benchmark high of US$5 trillion in 2018, according to the Swiss Re Institute’s report, World Insurance: The Great Pivot East Continues, but that doesn’t mean all is well for insurance sectors in every part of the world.

China and Asia-Pacific more broadly will continue

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The questions insurance firms should be asking about IFRS 17

The questions insurance firms should be asking about IFRS 17

HARARE, Insurance companies around the world are preparing to implement IFRS 17 – a new international accounting standard for insurance contracts, proposed by the International Accounting Standards Board (IASB).

The incoming IFRS 17 is like a hybrid of the two most common accounting approaches: the deferral and matching approach and the

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Global ransomware attack could reach $190 billion – study

Global ransomware attack could reach $190 billion – study

HARARE, A global ransomware cyberattack could inflict around US$193 billion in damage and affect more than 600,000 businesses worldwide, according to a new report from the Cyber Risk Management (CyRiM) project.

CyRiM is a Singapore-based public-private initiative that assesses cyber risks, with Lloyd’s as one of its founding members. The report was produced in collaboration with Nanyang Technological

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