All articles by GlobalData Financial
GlobalData Financial
Trump’s election win will slowdown EV insurance growth
President-elect Trump has expressed scepticism toward EVs, criticising government incentives and regulations promoting their adoption.
Younger consumers prioritise insurers’ sustainability record more than older generations
According to GlobalData’s 2023 UK Insurance Consumer Survey, consumers aged 18–29 prioritise insurers’ sustainability records more than older age groups.
Ping An reaps rewards of innovating in key insurance industry themes
Ping An has applied for 2,716 patents within AI in insurance over the past 20 years.
Climate change and natural catastrophes pose significant threats to the insurance industry
A GlobalData poll conducted in Q2 2024 showed that 25.2% of industry insiders consider severe weather and natural catastrophes one of the biggest threats to the insurance industry.
Consumers would generally be happy for an AI solution to decide the outcome of their insurance claim
Insurers must ensure the seamless integration of AI in claims management from the outset, or risk discouraging consumers from embracing automated tools.
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Over half of global consumers believe insurers should engage in the fight against climate change
GlobalData’s 2024 Emerging Trends Insurance Consumer Survey found that 77% of consumers around the world are either concerned or very concerned about global warming.
Younger consumers are more likely to pay their motor insurance in monthly payments
Younger consumers are more likely to opt for monthly payments for their motor insurance for various reasons.
Global consumers want to see action from insurers in the fight against climate change
GlobalData’s 2024 Emerging Trends Insurance Consumer Survey found that a total of 77% of respondents were either very or somewhat concerned about global warming and climate change.
Star Health’s data breach highlights growing cyber risks in insurance industry
In August 2024, the company experienced a major breach in which hackers exploited Telegram chatbots to leak sensitive information from over 31 million customers.
Most global consumers prefer to pay insurance in instalments as cost-of-living crisis bites
GlobalData’s 2024 Emerging Trends Insurance Consumer Survey found that 65.4% of global consumers prefer paying for their insurance in instalments because of the cost-of-living crisis