Global Insurance Premium Growing Despite Trade Slowdown

This Week in Analytics: News

Global Insurance Premium Growing Despite Trade Slowdown, AI’s Promise is Here, 6 Trends Altering the Insurance Industry, 8 Insurance Tech Deals that Changed the Landscape

Carrier Management: Global Insurance Premium Grows at Healthy Clip Despite Trade Slowdown: Swiss Re

Despite a challenging business environment and global trade slowdown in 2015, global direct premiums written grew by 3.8 percent in real terms, up from 3.5 percent in 2014, according to Swiss Re’s latest sigma report.

However, in nominal US dollar terms, global premiums were down by 4.2 percent, due to currency depreciation against the dollar, particularly in advanced markets, the report explained.

“On the non-life side, strong growth in advanced markets of Asia and improvement in North America and Western Europe, contributed to a 3.6 percent increase in global premiums, up from 2.4 percent growth in 2014,” sigma said.

On the other hand, life premium growth slowed to 4 percent in 2015, down from 4.3 in 2014, as result of weaker performance in advanced markets, the report said. Read the full article now…

 

Insurance Thought Leadership: AI’s Promise Is Finally Upon Us

We have been hearing predictions for decades of a takeover of the world by artificial intelligence. In 1957, Herbert A. Simon predicted that within 10 years a digital computer would be the world’s chess champion. That didn’t happen until 1996. And despite Marvin Minsky’s 1970 prediction that “in from three to eight years we will have a machine with the general intelligence of an average human being,” we still consider that a feat of science fiction.

The pioneers of artificial intelligence were surely off on the timing, but they weren’t wrong; AI is coming. It is going to be in our TV sets and driving our cars; it will be our friend and personal assistant; it will take the role of our doctor. There have been more advances in AI over the past three years than there were in the previous three decades.

Even technology leaders such as Apple have been caught off guard by the rapid evolution of machine learning, the technology that powers AI. At its recent Worldwide Developers Conference, Apple opened up its AI systems so that independent developers could help it create technologies that rival what Google and Amazon have already built. Apple is way behind. Read the full article now…

 

Insurance Networking News: 6 Trends Altering the Insurance Landscape

Emerging technologies and a renewed interest in long-term care are fueling innovation in the insurance industry, according to Aite Group. View the full slideshow now…

 

Insurance Networking News: 8 Insurance Tech Deals that Changed the Landscape

Core insurance systems vendors are consolidating at a rapid pace this year as startup technology firms enter the marketplace. Here are some of the biggest deals so far in 2016. View the full slideshow now…

 

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