As business leaders identify the biggest risks worldwide, the insurance industry responds with technologies such as drones that can safely go where claims adjusters cannot.
In this issue of our series of insurance news analysis, Natalie de Freitas talks about the World Economic Forum's annual risk report. In addition to infectious diseases and supply crises, the study also cited extreme weather events as one of the biggest problems. It is no surprise that losses from natural disasters increased by 40 percent last year compared to the average for this century.
Insurers respond to increased risks with innovative solutions. Drones reduce the need for pests to work in dangerous conditions after the storm. And AI helps identify risk patterns for wildfires to help prevent and reduce losses.
Market convergence also leads insurance companies to completely new areas. They will not be happy to find new ways to play in their sandbox; they see their sandbox change.
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