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AI sets next wave of insurance disruption in motion

AI sets next wave of insurance disruption in motion

Artificial intelligence (AI) has been instrumental in shaping the insurance industry for the past few years and insurance providers have integrated AI models with established methodologies from the actuarial sciences to enhance risk analysis and streamline claim...

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Does your insurance cover your garage and what’s in it?

Does your insurance cover your garage and what’s in it?

The garage is one of the most versatile value-adds to a property. But did you know that under certain circumstances, it may not be covered by your insurance? We all have ‘that’ room, the one where junk is stored, or tools are kept, and this is very often the garage....

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Harnessing Data Analytics for a Competitive Edge in Insurance

Harnessing Data Analytics for a Competitive Edge in Insurance

In an era where data is crucial, the insurance sector is undergoing a transformative shift towards data-driven decision-making and personalized services. The ability to analyse vast amounts of information has become an essential factor in risk assessment, insurance...

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Growing threats highlight importance of cyber insurance

Growing threats highlight importance of cyber insurance

Cyberattacks on South African companies are on the rise. Local insurers and incident response teams reporting the highest level of incidents they have ever seen, , as these attacks become more frequent and sophisticated, the majority of local businesses can expect to...

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Critical infrastructure blackouts and cyber threats

Critical infrastructure blackouts and cyber threats

It is both stability and change in the Allianz Risk Barometer 2023. Cyber incidents and business interruption rank as the biggest company concerns for the second year in succession (both with 34% of all responses), however, it is macroeconomic developments such as...

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How Location Technology is Revolutionising Insurance Risk

How Location Technology is Revolutionising Insurance Risk

Since insurance first started centuries ago, premiums have been determined on the basis of client risk profiles, with insurers pooling risk across large numbers of clients to take advantage of the laws of large numbers. It has always been an imperative for insurers to...

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What will cybersecurity look like next year?

What will cybersecurity look like next year?

In 2022, governments fought wars online, businesses were affected by multiple ransomware gangs, and regular users’ data was constantly on hackers’ radar. Marijus Briedis, chief technical officer of NordVPN, comments: “Next year will not be any easier when it comes to...

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Cyber security insurance is crucial for risk mitigation

Cyber security insurance is crucial for risk mitigation

According to a recent Accenture study South Africa reportedly experiences 577 malware attacks per hour resulting in losses of R2,2-billion per year. Cybercrime is undoubtedly one of the most serious risks that businesses today face. In the past, many businesses,...

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Kaspersky warns of top cyberthreats in South Africa

Kaspersky warns of top cyberthreats in South Africa

Kaspersky research has found that from January to April this year, ransomware attacks in South Africa have doubled over the comparative period of 2021. In fact, ransomware has become the most significant cyberthreat of our time. As the name suggests, ransomware locks...

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Why insurance premium increases are unavoidable

Why insurance premium increases are unavoidable

Santam’s executive head of commercial and personal intermediated business, Andrew Coutts, has issued a communication to intermediaries setting out the factors that have made premium increases unavoidable. Coutts said households and businesses have experienced immense...

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Moving from reactive to proactive in the face of cyber war

Moving from reactive to proactive in the face of cyber war

Every CISO and IT security professional knows that cyber risks are exploding, with cybercrime syndicates becoming increasingly aggressive and sophisticated. To their credit, security execs are putting out fires and putting mitigation measures in place as fast as they...

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