Moments before COVID-19 began its rampage, Netflix premiered a documentary series Pandemic: How to Prevent an Outbreak, presenting a prophetic warning about the risks of a new respiratory virus that could overwhelm the planet within a matter of months.
Corporate insurance multinational Allianz Global Corporate & Specialty’s (AGCS’s) annual survey – Allianz Risk Barometer 2022 – looks at the key business risks for the next 12 months and beyond, based on the views of 2,650 risk management experts from 89 countries and territories, including brokers, insurance experts, risk managers and CEOs.
Taryn has been in the Premium Finance industry for 17 years. She has extensive experience in Portfolio Management, deal structuring and client relations.
In the aftermath of COVID-19, the number of challenges facing businesses and individuals in the current insurance marketplace are abundant. A key reason why this is the case is because the insurance market has hardened drastically.
The pandemic hit and your business was forced to adapt instantly to a remote work environment. You couldn’t have predicted the increased risk of cybercrime, and therefore, couldn’t have had cybersecurity education or infrastructure in place.
The cost of insurance is always changing, much to the frustration of customers (both businesses and individuals). This is because insurance moves in cycles, fluctuating between a ‘soft market’ and a ‘hard market.’ Over the last few years, we’ve entered a hard insurance market, meaning that insurers are paying out a large number of claims with less money coming in.
You’ve probably heard about Warren Buffett, undoubtedly the most accomplished investor in the world. But what many don’t know is that he’s a fierce advocate for self-improvement, with a treasure trove of advice to better our businesses and our lives.
Although the Fulcrum group of companies has been the leading provider of Premium Finance before the pandemic hit, the pandemic brought to light how effective this solution really is.
The digital era is expected to transform the insurance industry radically, forcing old business models out and offering an array of opportunities to innovate.