On the demand side, factors include affordability and trust; and on the supply side, transaction costs and limits to insurability hold back insurance supply, say Kai-Uwe Schanz, Special Advisor at The Geneva Association.
Watch the second interview, Insurance protection gaps in healthcare and cyber feature distinctive challenges.
The insurance protection gaps in healthcare and cyber risks are not sufficiently researched even though their respective protection shortfalls are more dramatic than for natural catastrophe risk, according to the study Understanding and addressing global insurance protection gaps released today by The Geneva Association.
Also of interest:
Goverments, employers and insurers play a role in overcoming undersaving, says Alexander R. Wynaendts, CEO and Chairman of Aegon.
For more related videos, visit The Geneva Association YouTube channel.
Communities have not saved enough for their future and this needs to be addressed collectively and brought to the public’s attention, says Alexander R. Wynaendts, CEO and Chairman of Aegon.
For more related videos, visit The Geneva Association YouTube channel.
The use of big data analytics in insurance offers significant societal benefits, as improved understanding of risks can inform risk reduction and enhance insurability. However, individuals, firms and regulators face complex trade-offs when balancing the benefits and risks of using personal data from digital sources to calculate insurance premiums.
Our new report explores these issues, and aims to contribute to an informed and fact-based regulatory debate on access to and use of data in insurance - find out more at the following links:
