All articles by GlobalData Financial

GlobalData Financial

Insurers wary about Gen AI’s impact on the evolution of cyber threats

Munich Re has underscored the escalating risks associated with rapid technological advancements, with ransomware playing a significant role in recent cyber incidents.

Privately owned e-scooters provide insurers opportunities amid low policy uptake

According to GlobalData’s 2023 Financial Services Consumer Survey, e-scooter insurance penetration rates vary significantly by country.

Aviva’s telematics-lite policy could convince unsure consumers

GlobalData’s 2023 UK Insurance Consumer Survey found that a total of 9.2% of motor insurance customers have some form of telematics.

Brokers still struggle to pick out ESG insurance leaders

Despite two global insurers, Allianz and Aviva, having something of a presence in this field, it is clear that any insurer still can establish itself as a leader within ESG.

Consumer reluctance towards purchasing flight delay coverage has increased

As per GlobalData’s 2023 UK Insurance Consumer Survey, 38.8% of consumers would not be willing to pay more for a travel insurance policy that pays out in the event of a flight delay/cancellation.

Generative AI sparks insurance investment in 2023

GlobalData’s Deals Database found that the number of completed M&A deals in insurance tagged to the artificial intelligence theme increased by 153.5% year-on-year in 2023.

DeadHappy could have pushed boundaries too far as it upsets underwriters

DeadHappy has made a name for itself as one of the most creative yet controversial life insurers.

Nationwide’s purchase of Virgin Money will strengthen its bancassurance position

Nationwide intends to increase returns, diversify funding sources, and grow its business by acquiring Virgin Money for £2.9bn.

New cohorts of India’s population targeted as health insurance is set to grow

According to GlobalData’s 2023 Financial Services Consumer Survey, 59.4% of Indians do not hold private health insurance, with this proportion being somewhat higher among women.

Mental and physical well-being continues to grow in importance within the workplace

The results of GlobalData’s 2022–2023 UK SME Insurance Surveys show that employers are becoming more aware of the importance of their staff’s physical and mental well-being.