Insurance Premium Modelling – An Introduction

by Jed GigerFebruary 6, 2015

This week, we’re going to start looking at the basics of how premiums are calculated and over the next couple of months; we’re going to see how these models become more complex and how what initially, seems like an easy task, isn’t quite so simple. The Basics of Insurance Premium Calculation Let’s say that you […]

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Insurance Technology and the Customer Relationship

by nickkFebruary 2, 2015

As you know, here at Riskheads we’re huge fans of the power of software to improve insurance businesses. The ability to automate processes and generate greater granularity in analytics leads to better products and services. However, we also think that there’s a balance to be found between software and humanity. The Customer Relationship is at […]

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Will the Bitcoin Blockchain Model Change Insurance?

by nickkJanuary 19, 2015

Bitcoin, the alternative currency, is changing the way that the world operates. It uses a decentralized system to create a secure and anonymous payment system that can be used nearly anywhere in the world. The currency has not been without its ups and downs and the value of a bitcoin has become immensely volatile with […]

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Preparing Your Insurer for Unauthorized Access to Data

by nickkJanuary 5, 2015

It’s not a mark of shame to have your data breached; it happens to the biggest companies on earth – cyber-criminals have large amounts of resources to their name and spend a lot of money breaking into other people’s data. That means insurers need to examine their preparations for what should happen when their data […]

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Arbitrage Constraints and Reinsurance

by Jed GigerJanuary 2, 2015

The concept of reinsurance is a relatively simple one. It enables an insurer to offset some of the risk on an individual policy or group of policies to another insurer. One of the main ways that reinsurers make money is through arbitrage. That’s the idea that you can bring together a group of risks and […]

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2015 – The Year Insurance Goes Mobile

by nickkDecember 29, 2014

The insurance industry is sometimes slow on the uptake when it comes to new technologies; but 2015 is the year when any serious player in the game is going to take advantage of mobile (smartphones and tablet computing) to grab an advantage that not only benefits clients but also the bottom line. If you’re wondering […]

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Ways to Work with Data to Improve Fraud Detection Issues in Insurance

by nickkDecember 22, 2014

Fraud is, sadly, a threat to all insurers. Yet, despite many efforts to the contrary; it remains difficult to detect fraud. Common factors impeding fraud detection include legacy systems which are not fully interoperable with other data management systems and giving vendors too much control over critical data. So, how could data be managed better […]

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Challenge someone to a mince pie showdown now.

by Adam BishopDecember 19, 2014

**To challenge a friend or colleague, visit:   Merry Christmas!

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Will Wearable Technology Lead to Insurance Premium Parity?

by nickkDecember 8, 2014

Wearable technology was the buzzword of 2013. The Google Glass project made the idea that wearables were going to be part of our daily routines seem possible. Sadly, for Google the Glass project appears to be struggling (if it’s not already dead) thanks to the fact that people won’t wear glasses that make them look […]

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What’s the difference between an Estimated Maximum Loss and a Probable Maximum Loss?

by Jed GigerDecember 5, 2014

In some cases these two terms are used interchangeably. They are both designed to give an actuarial measure of the risk that an insurer faces on a policy. They are both commonly used with respect to real estate insurance and in particular to fire risks. Yet they are slightly different and you need to use […]

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