Tag: insurance industry trends

Insurance market in Latin America to continue rapid growth

H. Cutner
insurance industry growth

This geographical segment of the marketplace is expected to maintain its fast increases, despite industry challenges. According to a recent statement that was made by Alan Murray, senior vice president at Moody’s, Latin America will continue to be one of the most rapidly growing insurance market regions on the globe. This, despite the fact that the insurance industry is expected to have to face certain hurdles along the way. Over the last ten years, Latin America has continued to hold the top spot as the most rapidly growing insurance market,…

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Insurance industry must take the digital age seriously

Logan B.
mobile business insurance industry

Report highlights the changing behavior of consumers around the world Improving digital engagement may be the key to success for the insurance industry, according to a new report from PwC. Consumers throughout the world are becoming more digitally oriented, relying on the online realm to conduct their daily lives. These people shop online, communicate with their loved ones online, and even work online, and if the insurance industry cannot cater to the changing needs of digital consumers, it may risk losing its ability to engage customers effectively. Consumers are favoring…

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High-profile attack highlights importance of cyber insurance

S.Vagus
identity theft cyber insurance

Community Health Systems files comment with federal government concerning recent data breach Tennessee’s Community Health Systems, an operator of acute care hospitals, has filed a statement with the federal Securities and Exchange Commission concerning a recent data breach that compromised patient medical files. The organization’s hospitals store patient information digitally in order to ensure that this information can be accessed more easily. Digitizing these records can be a risky practice because of the complex and unpredictable nature of cyber attacks. 4.5 million people may have been affected by the cyber…

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Mergers and acquisition heats up within the insurance industry

S.Vagus
Insurance Industry News Deal

Merger and acquisition activity is on the rise in the US and Canada There were a reported 110 insurance agency mergers and acquisitions in the U.S. and Canada during the first four months of this year, according to Optis Partners, LLC. This represents the highest frequency of mergers and acquisitions seen in the insurance industry since before 2008. There are many factors that influence the prevalence of mergers and acquisitions, including the hardening of the insurance market and ongoing economic problems. For some organizations, these sorts of deals may simply…

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Auto insurance in cities could change with car ban

Julie Campbell
bigstock empty street in modern city 53137219

The industry is now starting to consider the impact of future legislation with the intent of going green. When it comes to the majority of cities, traffic jams – particularly at rush hours – are generally accepted as a part of the urban experience, but this could change dramatically, as could the state of auto insurance, if a number of cities around the world that are considering a future ban on automobiles within those areas actually go through with the concept. Even some of the countries that are most associated…

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