A.M. BestTV at RIMS: New Sources, Requirements Fuel Predictive Analytics Boom

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FOR IMMEDIATE RELEASE

OLDWICK - APRIL 13, 2016 02:41 PM (EDT)
In this ^A.M.BestTV episode from The Risk Management Society’s (RIMS) annual meeting in San Diego, CA, analytics professionals said data analysis is permeating all levels of insurance organizations. New reporting requirements are spurring insurers to gather and analyze even more information. Click on http://www.ambest.com/v.asp?v=rims3416nc to view the entire program.

“Data and analytics have come a long way in five years. A lot of it, to me, is the usability, the applicability of data and analytics for our clients themselves,” said John Merkovsky, group head of risk and analytics, Willis Towers Watson. “There was a lot of good insurance analytics a couple of years ago, with some tools available for the corporate world, but it has come a long way, and the ability to make decisions with data and analytics has improved tremendously.”

Claude Yoder, head, Marsh Global Analytics, said he believes that data and analytics are influencing risk management. “I think that with the advent of more data, with better analytics, hopefully analytics will be easier to consume and drive insights,” said Yoder. “I think there’s a way to customize answers for companies that are very compelling these days to risk managers, driving insights that are very specific to not only their industry, but the company itself.”

Full-length interviews are available as well. Go to http://www.ambest.tv/rims16 to see all the interviews, which include discussions with Richard Ives, vice president, Travelers; Jude Scott, chief executive officer, Cayman Finance; James Van Meter, aviation practice leader, Allianz; Ann Myhr, senior director of knowledge resources, The Institutes; and Chris Johnson, executive vice president, FM Global.

Recent episodes of ^A.M.BestTV include:

• Insurance Leaders See Fast-Changing World of Risk: At the RIMS’ annual meeting, a panel of insurance leaders from XL Catlin, American International Group, Inc. and Lloyd’s examine how soft markets, the quickening pace of market change and new technological capabilities are remaking the world of risk: http://www.ambest.com/v.asp?v=rims2416nc.


• Insurers See Widening Array of Emerging Risks: In this ^A.M.BestTV episode from RIMS, insurance leaders said evolving forms of cyber risk, developments in workers’ compensation, energy risks, market disruptions and a host of man-made risks are growing perils: http://www.ambest.com/v.asp?v=rims1416nc.


• Global Insurers Keep Focus on Brazil: At the CNSeg Fifth Annual Rio de Janeiro Reinsurance Meeting in Brazil, insurance leaders said Brazil’s young but maturing market is presenting opportunities for global (re)insurance companies: http://www.ambest.com/v.asp?v=cnseg2416nc.


• Brazil’s Reinsurers Look for Growth Amid ‘Perfect Storm’: At the CNSeg Fifth Annual Rio de Janeiro Reinsurance Meeting in Brazil, reinsurance industry leaders said that they still see great potential in Brazil’s insurance market, but the country faces a range of economic and political challenges: http://www.ambest.com/v.asp?v=cnseg1416nc.

^A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^A.M.BestTV episodes at http://www.ambest.tv .

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.