Developing and scaling up the integration of the next generation of risk models requires cross-sectoral collaboration, and the insurance industry plays a critical role as risk managers and investors. This was a key takeaway of The Geneva Association's 2019 Climate Change Forum held 11–12 July in London, sponsored by Tokio Marine Holdings.
Insurance protection gaps in mature markets could be narrowed by reinforcing trust in insurers, reveals a survey commissioned by The Geneva Association. The research report Underinsurance in Mature Economies: Reasons and remedies distils a number of takeaways from the survey's results and proposes a framework of five factors that influence underinsurance: institutions, sociodemographics, economics, behavior and culture.
The Geneva Association adds the CEOs of Aviva, Ping An and Prudential, as well as the Chairman of The People's Insurance Company of China, to its Board of Directors.
The Geneva Association and the International Insurance Society announced today that Alexander Braun, Sebastian Utz and Jiahua Xu, hailing from the University of St. Gallen in Switzerland, have won the Shin Research Excellence Award for their paper Are Insurance Balance Sheets Carbon-Neutral? Harnessing Asset Pricing for Climate-Change Policy.
The report ‘Healthcare in Emerging Markets: Exploring the Protection Gaps’ analyses the health protection gap as out-of-pocket spending that is financially stressful for households. The Geneva Association estimates the annual health protection gap in emerging markets at about USD 310 billion, or approximately 1% of these countries’ aggregate gross domestic product.
Also of interest:
Jad Ariss has been appointed Secretary General of The Geneva Association, effective 1 March 2019. Mr Ariss' distinguished and diverse career has included his most recent role as AXA Group Head of Public Affairs and Corporate Responsibility, as well as CEO of AXA Middle East & Africa, Group Head of Investor Relations, CEO of AXA Enterprises, and Deputy CEO of AXA France.
The Geneva Association, the leading international think tank of the insurance industry, announced today that its Secretary General, Anna Maria D’Hulster, has decided to resign from her position for personal reasons, effective from the end of February 2019.
Online platforms can foster insurance market transparency and reduce both transaction costs and information asymmetries, factors typically associated with increased competition and societal welfare. However, online platforms also give rise to new challenges concerning consumer protection and competition which should be addressed by policymakers.
Also of interest:
Catastrophe risk modelling has revolutionised the way insurers assess, price and manage disaster risks. Its usefulness to society could be even further enhanced by integrating the latest climate science, observational capabilities and emerging technologies.
Also of interest:
As the economy becomes more digitalized, the role of insurance in society is changing from one concerned primarily with loss indemnification to a broader advisory service for customers on how to prevent, mitigate and manage their risks.
Also of interest:
