The commercial use of drones is expected to grow rapidly as companies like Amazon and UPS look to use drones to support their activities. Drones can potentially change business models for a number of industries, including insurance. Here, A.M. Best AVP Henry Witmer discusses the use of drones, related liability exposures and the underwriting challenges insurers face. According to Mr. …

World Risk and Insurance News was on-site for the annual Joint Industry Forum, hosted by the Insurance Information Institute.  Here, Dr. Bob Hartwig, President of the Insurance Information Institute, shares his thoughts on the new Congress, the debate over capital standards, technology, and more. III’s Hartwig sees Dodd-Frank, Obamacare and MetLife’s SIFI challenge as key Federal issues in 2015. Will …

In highlights from the First Monday series, A.M. Best’s Senior Economist Meg Mulry looks at development of international capital standards (ICS) by the International Association of Insurance Supervisors (IAIS), and the timeframe for adoption. Ms. Mulry notes that the Financial Stability Board (FSB) and the IAIS have identified nine insurance companies that are deemed systemically important. She says the regulators …

At the 2015 European Insurance Forum, WRIN.tv asked Arjen de Boer, the Founder of ITDS Business Consultants for his take on technology trends affecting insurers and for his advice on the industry’s use of social media. According to Mr. de Boer, the decline in insurance penetration these days is due, in part, to the economic recession. In England, he says …

Darren Maher, a Partner and Head of Corporate Insurance at Matheson, spoke with WRIN.tv at the 2015 European Insurance Forum in Dublin about the movement toward global insurance regulation. The talk of creating a global regulatory regime started in the immediate aftermath of the most recent financial crisis. Mr. Maher says the industry and regulators realized the current regulatory regimes …

At the European Insurance Forum in Dublin, WRIN.tv spoke with Harry Goddard, Head of Technology at Deloitte, about the pace of change impacting the insurance industry. He says the pace of change is quickening, because of the ‘consumerization’ of data and technology. Consumers are becoming more sophisticated in how they engage with companies and service providers. Mr. Goddard notes three …

At the 2015 European Insurance Forum, WRIN.tv spoke with Mervyn Skeet, Global Head of Tax at XL Catlin, about the changes he sees in the global tax environment, and the impact on insurers and reinsurers. Mr. Skeet sees two major trends in taxation. First governments are looking to collect tax revenue where economic activity is happening, and from multinationals. He …

Ian Goldin is Professor of Globalization at the University of Oxford and author of “The Butterfly Defect”, a book that looks at how local events cascade over national borders. WRIN.tv spoke with Professor Goldin about globalization, systemic risk, and why mitigating uncertainty in an interconnected world is essential. According to Professor Goldin, the titled of his book “The Butterfly Defect” …

The level of demand for Insurance has been declining in western developed economies. At the recent European Insurance Forum (EIF) in Dublin. Enda Murphy, EVP and Head of Global Business Operations at RGA International Reinsurance, addresses the “insurance gap”, why it has evolved, and how to increase penetration. Mr. Murphy says insurance penetration over the last ten years has been …

Sylvia Cronin, Director of Insurance Supervision at the Central Bank of Ireland, and a member of the EIOPA Board of Supervisors, joins WRIN.tv during the recent European Insurance Forum to discuss whether Irish insurers was ready for Solvency II. According to Ms. Cronin, the insurance industry in Ireland has been looking at Solvency II for the past 15 years. While …

Glenn Gillard, a Financial Services Partner at Deloitte, speaks about the implementation of Solvency II, Base Erosion Profit Sharing (BEPS), and conduct regulations that could affect insurers in the near future. The final phase of preparing for Solvency II is coming to an end said. Mr. Gillard believes the current challenges surround what is going to be delivered, especially around …

The Irish economy has recovered very well over the past several years, and now outpaces the rest of the European Union. At the recent European Insurance Forum (EIF) in Dublin, WRIN.tv spoke with the Irish Minister of State Simon Harris, from the Departments of Finance, Public Expenditure & Reform, about the recovery and the vision for the future of Ireland’s …

Solvency II will be implemented on 1 January 2016. At the recent European Insurance Forum (EIF) in Dublin, WRIN.tv speaks with Karel van Hulle, who was responsible for the early development of Solvency II and is known as the “Father of Solvency II.” He is currently an Associate Professor at the Goethe University in Frankfurt and Chairman of the Insurance …

At the 2015 European Insurance Forum (EIF), Dublin International Insurance and Management Association (DIMA) CEO Sarah Goddard speaks with WRIN.tv about the biggest issues facing the industry, the growth of the Irish insurance market and the 2015 European Insurance Forum. With Solvency II implementation scheduled for 1 January 2016, Ms. Goddard says preparations are among the many hot topics at …

In this edition of ACORD Tech Talk, host Johnell Johnson welcomes Kathleen Swain, Innovation Advisor at USAA to discuss the recent approval by the FAA allowing USAA to use drones and the use of drones by insurance companies. According to Ms. Swain, “USAA started researching the use of drones in 2010 and in 2014, filed for two exemptions from the FAA for …

Continued low interest rates and bond yields are presenting significant challenges for insurers. Here to discuss insurance investment options is Michael Haylon, a managing director at Conning. Low interest rates and bond yields have created major challenges for many insurance companies, says Mr. Haylon. “Many companies built increases in bond yields into their forecasts and it just hasn’t happened…the kinds …

Peter Miller, President and CEO of The Institutes, joins WRIN.tv to discuss talent acquisition and development, cyber risk, Big Data and more. According to Mr. Miller, there is a large number of skilled people who are getting ready to leave the industry. The Bureau of Labor Statistics says that by 2022 the insurance industry will have to fill around 500,000 …

Following Hurricane Katrina in 2005, RIMS held its first Community Service Day in New Orleans in 2007. With the 2015 RIMS Annual Conference returning to New Orleans, Community Service Day returned to its roots. RIMS Executive Director Mary Roth and the CEO of Zurich’s North American Commercial Division, Mike Foley, discuss a long-term commitment to community service and the resilience …

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 …