Published Nov 8, 2018 at 8:00 am (Updated Nov 8, 2018 at 12:13 am) Huge opportunity: drones could have numerous valuable uses in the insurance industry, PwC says From asbestos to algorithms, ethical handling of data and loss of sleep — the 2018 Swiss Re SONAR, new emerging risk insights report aims to identify the risks that may have a major impact on the insurance industry in the future. Annette Kurtzweil, chief risk officer, Swiss Re Corporate Solutions North America, presented the report’s findings at the PwC Insurance Summit.There was also a deeper discussion on emerging risks with panellists David Bigley, chief underwriting officer and head of global catastrophe insurance, Sompo International; Judy Gonsalves, vice-president, Chubb Group and division president, Chubb Bermuda; and Noel Pearman, cyber product line leader, Axa XL Bermuda. Ms Kurtzweil noted the continuing impact of asbestos on the industry, with millions of metric tonnes of asbestos still … [Read more...] about Insurance panel considers new emerging risks
Technology partnership offers audible alert automation and crisis communication capabilities to security and operations teams. PORTLAND, OREGON, UNITED STATES, July 31, 2018 /EINPresswire.com/ -- Swan Island Networks, a leading Situational Awareness software provider, and OnPage Corporation, a technology leader in Mobile Secure Messaging and Incident Response Management, are partnering to deliver incident management and emergency notifications capabilities through the TX360 platform. This partnership provides security, risk management and business continuity teams with a way to automate audible alerts from TX360, so that immediate action can be taken. The OnPage capability can help deliver critical alerts to response teams in real-time with the OnPage email integration that uses Alert-Until-Read technology to make sure the alerts are acknowledged. OnPage’s escalation policies, redundancies, and scheduling algorithms can route and schedule alerts coming in from the TX360 … [Read more...] about Swan Island Networks Partners with OnPage Corporation to Provide Emergency Notifications Through the TX360 Platform.
Share on twitter by James Eyers Nothing is more valuable to a fintech start-up than data. And some of the best quality data for pricing financial services are the historical records of customer debt repayments.When run through algorithms, these can indicate how likely a prospective borrower is to repay a loan in the future, which helps with assessing risk and pricing.Fintechs are right on the cusp of getting access to this "repayment history information" (RHI), through the government's new "comprehensive credit reporting" (CCR) regime. The policy is due to come into force in just over a fortnight, and would require banks to attach RHI to customer reports provided to credit bureaus.So the last-minute move last week by Labor, backing consumer group concerns that RHI may discriminate against borrowers in hardship, is frustrating for fintechs, especially those in the business of personal lending. Labor said it will amend the bill to delay the reporting of RHI into the scheme for a … [Read more...] about Credit report delay shows fintech social risk concerns
Lives could be put at risk because of a huge funding gap for Scotland’s national fire brigade, it was claimed yesterday. Public spending body Audit Scotland revealed a £389million maintenance backlog at the Scottish Fire and Rescue Service. In a report, which will be published today, the independent watchdog said the risk of vehicle breakdowns will increase “significantly” if spending levels remain the same. The SNP Government said they are spending more money on the service but Labour claimed the revelations are a “national scandal that could put lives at risk”. Audit Scotland’s report said difficult choices lie ahead. They warned: “This may mean closing, moving, sharing or changing the use of some of its properties as well as considering the range and deployment of its fleet of vehicles,” they warned. The findings also raise concern about keeping retained and volunteer firefighters in rural areas - an average of 20 leave every … [Read more...] about £389 million black hole in Scotland’s national fire brigade ‘risks lives’
In a massive red flag raised by the DA provincial government in a report to its DA-run City of Cape Town, the huge increases in employee-related costs are marked as “an emerging risk”. The Western Cape government did an analysis of the City’s integrated development plan and budget and raised concerns. RELATED: City of Cape Town’s R49bn budget accepted “Excessive increases in employee-related costs without the corresponding increase in revenue could negatively impact on the long-term sustainability of the municipality,” the report said. Other risks and recommendations pointed out in the report are that repairs and maintenance are important to ensure that full benefits are derived from assets over the initial expected lifetime of assets. The City should explore further areas to cut back on expenses to sustain the healthy financial position, while at the same time providing acceptable levels of service delivery,” the report noted. The City’s … [Read more...] about Salaries of City of Cape Town’s staff is a long-term ‘risk to City’