International Cooperative and Mutual Insurance Federation
Case study The future of work is more than just remote or home working At the end of 2021, the ongoing COVID-19 pandemic forced German mutual insurer DEVK to host its management conference virtually for the first time. The event welcomed more than 100 employees to the livestream of the event which was hosted at […]
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Thought leadership article IFRS 17: Transitioning to a standard with new concepts and terminology In general, AM Best does not expect the introduction of IFRS 17 to have a direct impact on ratings. AM Best will continue to have an economic view of (re)insurers’ balance sheets to cater for different reporting standards across jurisdictions. Consistency,
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Thought leadership article Five strategic themes defining the near future of insurance There are ample growth and transformation opportunities for insurers that can craft a clear strategic vision and take the right actions now. Purpose will be influential in shaping new value propositions, designing enhanced services and executing ESG strategies. New products, personalised experiences and
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Case study E3CI: An innovative weather index to measure climate-related risks In January 2021, Leithà – the Unipol Group’s big data analysis company- presented the European Extreme Events Climate Index (E3CI), a new data tool which uses AI to more accurately measure climate-related weather risks. By monitoring climate trends and extreme events, it has the
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Thought leadership article 2022 Global Insurance Outlook: Achieving growth through people, purpose and technology Amid an ever-evolving social and financial climate, a number of megatrends are catalysing a widespread transformation and a dynamic competitive environment, defining near-term prospects for the insurance industry: ecosystems, open insurance and customer-driven competition are driving profound business model shifts; in
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Thought leadership article The future of cyber (re)insurance The growth trajectory of the cyber (re)insurance market will see it become comparable in size to either property or casualty by 2040 while exceeding property CAT in terms of annual reinsurance premium a number of years before. With the cyber ‘underwriting revolution’ well underway, Gallagher Re looks
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Thought leadership article Insuring the next phase of rural development Rural insurance can support efforts towards a more balanced and inclusive development approach in emerging markets, giving rise to new risk landscapes that require a refocus of insurance on the needs and requirements of rural societies. Ensuring sustainable rural development is essential to revitalising urban
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Thought leadership article Climate risk management for insurers – Benchmarking of emerging best practice Insurers are under increasing pressure to enhance their climate risk management practices and provide appropriate public disclosures. However, for many insurers this is still work in progress, and they are having to rapidly evolve their processes to meet these requirements. This
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Thought leadership article The post-pandemic outlook for emerging markets The pandemic has a long tail. While there are long-term health complications many economies are also registering persistent and permanent economic damage. In the near-term, the headwinds are already fierce in many emerging markets as they are in a race to vaccinate their population again resurging
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Thought leadership article US insurers seeing need to adapt to evolving ESG demands Compared with Europe, the US insurance industry is still in the nascent stages of ESG integration. Given the developing perceptions of ESG, AM Best surveyed (re)insurers operating in the USA and found that 51% of stock insurance companies reported that they were
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