How to Calculate an Actuarial Reserve

by Jed GigerNovember 7, 2014

This isn’t as complex as it might sound. Firstly; it’s probably a good idea to define what an actuarial reserve actually is. So: An actuarial reserve is used to account for the amount of money that an insurance company will be liable to pay (in the event of a claim) based on an estimate of […]

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Wearable Technology and the Insurance Sector

by nickkOctober 27, 2014

Even a few years ago the concept of wearable technology was an alien one; apart from a few functions on a wristwatch – there was little chance of any device being adapted to fit the human body. Today wearable technology is becoming ever more practical. The Google Glass project is perhaps the most famous example […]

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An Insurer’s Guide to the “Internet of Things”

by nickkOctober 13, 2014

There’s a new buzz word that’s starting to make itself felt. That buzzword is “The Internet of Things” but what does it mean? And more importantly what impact is the “Internet of Things” going to have on insurance. The Internet of Things The Internet of Things is a wide term which really covers the idea […]

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Technology that Combats Insurance Fraud

by nickkSeptember 29, 2014

A recent report in the US; The State of Insurance Fraud Technology revealed some worrying numbers. In particular, only 14% of insurers are using advanced technological fraud detection techniques. Given the rise in sophisticated insurance fraud rings – this seems a little disturbing. However, it may just be that the industry isn’t aware of what […]

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5 Keys to Keep Your Insurance Data Safe in the Cloud

by nickkSeptember 15, 2014

With the revelation that celebrity data was hacked on Apple’s iCloud service; it must appear that cloud storage isn’t looking as safe as it was claimed to be. Insurers don’t need to worry unduly about data in the cloud; the celebrities had failed to follow Apple’s security recommendations and that was let their accounts be […]

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Automotive Insurance Premiums to Fall Again?

by nickkSeptember 1, 2014

There’s a lot of technology looking to drive automotive insurance premiums down. The beginning of this trend was with telematics. The idea that you can monitor the insured party’s vehicle remotely for a range of condition enables insurers to reduce the risks they cover with greater certainty. Then there are dashboard cameras which enable incidents […]

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3-D Printing and Insurance – More Technological Disruption?

by nickkAugust 18, 2014

3-D printing has been hailed as one of the technological innovations of the century. You can develop prototypes quickly and easily without expensive manufacturing. You may soon be able to use them to print medicine or organs in remote corners of the world. In the rush to embrace the good from this kind of printing […]

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The End of the Insurance Underwriter?

by nickkAugust 4, 2014

Technology brings change; it’s inevitable. Most change is positive; it makes us more productive, it allows us to do things more safely, it brings convenience but there is also disruptive change. A recent paper from Oxford University sheds light on a change that some in the insurance industry will not appreciate; “The Future of Employment: […]

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Nanotechnology and Insurance

by nickkJuly 31, 2014

There are many fields of emerging risk in technology but few are as fascinating as nanotechnology. Nanotechnology involves materials which are less than 1 billionth of a meter long. A human hair is about 800 times thicker than the average nanomaterial. It’s not too long ago that nanotechnology was really the stuff of science fiction. […]

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Consumer Insurance Companies – About to be Rated?

by nickkJuly 21, 2014

There’s no doubt that technology has the power to help the insurance industry. This week, we’re left wondering if a new development may hinder some insurers and boost the profiles of others. Traditionally insurers have been rated on their financial performance and perhaps their stockholders. These measurements are great if you want to invest in […]

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