WRIN.tv spoke with Marsh’s Cyber Product Leader, Bob Parisi, during the recent RIMS Conference in New Orleans, about the pervasive nature of cyber threat and what risk managers can do to manage the risk. While it is hard to quantify the cyber threat to American businesses, Mr. Parisi says, “any company that touches and handles confidential information, …

WRIN.tv spoke with Mike Foley, CEO of Zurich’s North American Commercial Division, during the 2015 RIMS Conference in New Orleans. Here he discusses technology, capital and talent acquisition in the industry. According to Mr. Foley, the top issues facing risk managers today are globalization and supply chain fragility, technology (including drones and self-driving cars) and the ubiquity of data and …

John Merkovsky, Group Head of Risk Services at Willis, spoke with WRIN.tv during the 2015 RIMS Conference in New Orleans, about the latest in risk management analytics, and the need to unlock the mysteries surrounding their benefits. Risk Managers are looking for more information and certainty so they can make better and informed decisions. Mr. Merkovsky says risk analytics help …

  With advances in data collection and new technologies, predictive analytics have become more and more prevalent among the risk management community. At the 2014 RIMS Conference, Steven Laudermilch, SVP of Claims ACE Claims Group, provided an overview of recent developments in predictive analytics, and offered some advice for risk managers. Mr. Laudermilch says one of the biggest misconceptions about predictive modeling …

At the RIMS Conference in New Orleans, Zurich released its “Global Cyber Governance…” report. The report was developed in collaboration with the ESADE geo-Center for Global Economy and Geopolitics at Ramon Llull University in Barcelona. Here, Mike Kerner, CEO of General Insurance at Zurich Insurance Group discusses the key findings from the report, as well as recommendations for a cyber-governance …

Risk Management Information Systems (RIMS) are becoming increasingly important in managing risk exposures and claims.   During the 2015 RIMS Conference in New Orleans, WRIN.tv speaks with INFORM Applications President Alan Josefsek, who reviews the benefits of an effective RMIS. Mr. Josefsek points out that RMIS have been around for a long time. It is helping companies reduce losses and improve …

According to a report by Cisco the number of mobile-connected devices exceeded the world’s population in 2014 and according to Pew Research, about 64 percent of Americans now own a smartphone. Here Barry Rabkin, president of Market Insight Group and author of a new report … “The Role of Mobility in Transforming Insurance Sales & Service” discusses how mobile trends …

In this edition of ACORD Tech Talk, host Johnell Johnson and her guests, Hartnett Advisors President Bill Hartnett, discuss how augmented reality and 3D printing are impacting the insurance industry. Mr. Hartnett sees virtual reality and augmented reality as very similar in nature.  Google Glass, for instance, enables user to have information presented in front of their eyes, no matter where …

WRIN.tv speaks with Catherine Duffy, an SVP with XL Insurance (Bermuda), during the IRMI Energy Risk and Insurance Conference about emerging risks in the oil and gas industry. According to Ms. Duffy, the greatest threats to oil and gas companies “stem from the decrease in oil prices…which is creating talent scarcity and talent retention issues.“ The energy industry is letting …

On March 1, Grayscale Investments announced that it had received regulatory approval from FINRA to trade its Bitcoin currency on an electronic platform operated by the OTC Markets Group. Experts believe this could pave the way for more stability in the price of Bitcoin. Here, Ty Sagalow, president of Innovation Insurance Group, discusses recent developments in Bitcoin and its potential …

In the last of a three part series looking at “Cybersecurity and the Insider Threat”, ACORD host Johnell Johnson welcomes Erik Matson, a Director with BLACKOPS Partners Corporation and Head of BLACKOPS Insurance Industry Group. Here, he focuses on how insider threats can impact the insurance industry. The insurance industry is facing a number of factors related to cyber risk, …

WRIN.tv’s Monday Morning Headlines, compiled by SNL Insurance, is a video digest of the news you need to know about the U.S. Insurance industry. Today’s Monday Morning Headlines: Cyber Threat Intelligence Integration Center for public-private cybersecurity Anthem cyber breach should be wake-up call for vulnerable health insurers NY State to strengthen regulations on insurer cybersecurity Connecticut Governor concerned about DC negotiating Covered …

The New York State Department of Financial Services plans to strengthen regulations that require insurers to meet heightened standards for cybersecurity, while it also considers security technologies to determine the best method for preventing cyber breaches. A DFS report said less than half of all insurers surveyed reported using biometric security technology as a tool.

The cyber-attack on Anthem should serve as a ‘wake-up call’ for the rest of health care industry. Experts say data breaches in the health care industry are likely to become more common, and the industry needs to better prepare. While personal information stolen from Anthem was not encrypted, the health insurer said experts believe encryption would not likely have prevented …

President Obama’s chief counter terrorism adviser announced the launch of a new federal agency to coordinate public and private-sector cybersecurity efforts. The Cyber Threat Intelligence Integration Center will be modeled after other federal programs intended to fight terrorism, such as the National Counterterrorism Center.

In another edition of ACORD’s TechTalk, host Johnell Johnson welcomes Eric Qualkenbush, a Director with BLACKOPS Partners, who retired from the Central Intelligence Agency (CIA). He focuses on cybersecurity and the “insider threat.” Mr. Qualkenbush says most cyber security companies focus on technical solutions, and do not pay enough attention to the human element. In fact, he says, most cyber-attacks …

Florida Insurance Commissioner Kevin McCarty is keeping his job…for now.  State officials forced Governor Rick Scott to delay removal of the longtime regulator pending a revamped state agency review process. McCarty has been at the center of political tempest in Florida, new details of which are still emerging.

Health insurance giant Anthem was the target of an external cyber attack, which compromised personal member information including names, birthdays, social security numbers, addresses and employment information. Anthem said there is no evidence that credit card or medical information was compromised. Attorneys general… in several states… are investigating.  

Peter Miller, President and CEO of The Institutes joined WRIN.tv during the Joint Industry Forum in New York to discuss the many changes affecting the underwriting discipline over the past few years, including the impact of technology, data and the opportunities they present to underwriting professionals. Top three factors affecting underwriters today all revolve around technology Telematics, data analytics and …

The Institutes President and CEO Peter Miller sees underwriters using technology to gather and use information including telematics, data analytics and other data collection techniques.  Technology has also affected underwriters’ workflow, making it easier to collaborate with claims and other part of the organization. Mr. Miller also believes “the internet of things” will play a big role in data collection. …