Vishal Kundi

The Age of Remote Work: Opportunity or Challenge? In the ever-evolving landscape of modern business, a new paradigm has been steadily gaining ground: The world is not just our playground, but our office. Remote work, once seen as an exception, is fast becoming the rule. It offers promises of unprecedented flexibility, allows businesses to tap into a global talent pool, and introduces the allure of an unparalleled work-life balance. Yet, this seismic shift brings forth its own set of challenges. How do we maintain robust collaboration amidst geographical divides? Can team cohesion survive when members are spread across time zones? How do we preserve the essence of our workplace culture in a digital realm? And can a series of virtual coffees ever replace the spontaneity and magic of corridor conversations? For today's leaders, the challenge is multi-dimensional. It's not just about choosing between the brick-and-mortar or the digital. It's about innovatively blending the two, capturing the essence of both, and ensuring neither is lost. #RiskManagement #CommercialInsurance #Resilience #Preparedness #Uncertainty #BusinessStrategy #RemoteWork #BusinessEvolution #WorkplaceCulture #Collaboration #TeamCohesion #GlobalTalent #Flexibility #Leadership #VirtualTeams #HybridWorkplaces #ModernBusiness #GeographicalDivides #TimeZones #DigitalRealm #BrickAndMortar

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🌟 Exciting News! 🌟 B4E Insurtech has been recognized as one of the Top 7 Life Insurance Companies and Startups in Canada 🎉 Ready to experience top-notch insurance services? Read the Article to learn more about our services! #B4EInsurtech #LifeInsurance #Canada https://wix.to/psAxeUR

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Our CEO, William Clark, recently answered 13 questions for Risk & Insurance. Like this one: R&I: How does The Demex Group approach the growing problem of climate risk in the insurance industry, and how does this present an opportunity for your business? BC: For a business like ours, the growing problem of climate risk presents an opportunity, and one that fits extremely well with our expertise and capabilities. The insurance industry is desperate for solutions. Historically, there were two primary ways to handle this risk: One, insurance companies would self-insure by retaining all the secondary perils risk, but the size of these retentions has gotten way too big for them to handle; or two, reinsurance providers would offer aggregate or excess of loss products, but they lost billions of dollars doing that and have pulled out of this market. The reason they weren’t able to succeed is that they were using models designed for catastrophes, which occur once every 250 or 500 years. The climate risks we’re talking about are much more frequent, occurring once every five or 10 years. It’s not surprising that models designed for events happening once every 100 to 500 years are not going to be optimal for events occurring every five years. Check out the other 12!

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This recent panel shares insights on the state of the professional #risks in #Canada by Insurance Business Magazine. As well as the challenges and opportunities that face professionals today, from heightened #cybersecurity threats to evolving regulatory demands. A standout point in the discussion is how businesses are increasingly prioritizing proactive #RiskManagement to mitigate these emerging threats. The experts shed light on the latest trends in professional #liability #insurance and explain how firms can better protect themselves and their clients amidst these changes. For anyone who is involved in risk management or looking to stay updated on professional risks in Canada, this video offers valuable perspectives and practical advice. #InsuranceIndustry #RiskLandscape

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One big takeaway from Andrew Au's keynote at the Canadian Reinsurance Conference: the future of insurance relies on multimodal GenAI. Google's Gemini is designed to understand and work with text, images, code, audio, and video. Other models like ChatGPT and Claude are evolving from text-based to other modalities. #generativeAI #insurance #canadianreinsuranceconference Imagine streamlining the life and health underwriting process with multimodal AI analyzing: - E-applications: Extract key details, identify potential red flags. - Tele-interviews: Assess voice patterns, word choice for potential stress or deception. - Scanned Documents: Verify consistency across medical records. - Lab Results: Compare data against risk assessment guidelines. - Attending Physician Statements: Cross-reference with patient information for a comprehensive health picture. The benefits? - Faster Underwriting: Reduce turnaround times, improve client experience. - Reduced Fraud: Uncover inconsistencies humans might miss. - Personalized Risk Assessment: Provide more accurate and tailored coverage.

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Just back from NICC - National Insurance Conference of Canada where there were lots of great discussions around secondary perils and how we as an industry can do more to address this growing concern. Check out my blog - from the perspective of a Reinsurer - on how Reinsurers can play an important role in this discussion. https://lnkd.in/dYheqey4

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There's a common fear in the Canadian property and casualty insurance industry that AI will replace underwriters. But, Pat Caldwell, chief people officer at the insurtech Send, argues that AI actually supports underwriters by reducing manual data entry and speeding up the onboarding process. AI can quickly provide information on policy coverages and industry terms, helping new hires get up to speed faster. This tech improves underwriters' skills and knowledge, especially with newer policy models. Experienced underwriters might not know about certain systems, but AI helps new analytical talent learn independently. Caldwell notes that while people often fear AI, it usually leads to new roles and skills rather than job losses. He believes AI allows underwriters to focus on high-value tasks, making them more valuable to their organizations in the long run. Read more: https://lnkd.in/gek4jv9G #AI #InsurTech #Insurance #InsuranceIndustry #ArtificialIntelligence #Underwriting #TechInInsurance

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Hurricane Beryl's early and intense start to the 2024 season put Canadian insurers on alert. Following losses from Hurricane Fiona in 2022, the industry faces potential challenges due to higher retentions and reinsurance dynamics. With NOAA predicting an above-average hurricane season, insurers are preparing for increased risks and potential impacts on reinsurance rates. The industry is closely monitoring developments to navigate these challenges effectively. #InsuranceIndustry #HurricaneBeryl #RiskManagement #Canadia #ClimateRisk

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Navigating the #LATAM #iPMI Market with Best Doctors Insurance In the iPMI Global Regional article, we discover how Best Doctors Insurance can help #expatriates, #travellers and #tourists navigate the #healthcare systems in #LatinAmerica. We review the key themes and insights from an interview with Sheldon Kenton, CEO of Best Doctors Insurance, published by iPMI Global. The interview focuses on the company's position in the Latin American international private medical insurance (IPMI) market, highlighting its strategies, the challenges, and opportunities. Read the complete feature with iPMI Global: https://lnkd.in/eDTP3iJz

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Recent catastrophic weather events have put increasing pressures on businesses today, creating the largest insurance claims the Canadian insurance world has ever seen. HUB's Shane McCarthy sheds light on lessening risk, transferring the risk, how parametric insurance can be valuable and how carbon credit insurance is important to create resilience during these challenges. Read more in his Environmental Science & Engineering Magazine feature: https://ow.ly/apWP50Ulnto #RiskMitigation #Insurance #CatastrophicWeather

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The pace of M&A in Canada has slowed in 2024 due to high interest rates, economic uncertainty, and inflated valuations. However, the insurance growth report points to a potential rebound, driven by key factors like climate risks, cybersecurity, and AI. Insurers that can navigate climate challenges and provide effective risk management will be well-positioned. Companies focusing on cybersecurity and data privacy will also attract interest, while AI can enhance efficiency and competitiveness. #Insurance #MergersAndAcquisitions #ClimateRisk #Cybersecurity #AI #DataPrivacy

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#insurance peeps! Here is the announcement of the second set of speakers at the SAS Insurance Summit -- Addressing the Known Unknowns in insurance. Peter Miller of The Institutes - a giant in our industry, Rose Hall, PE - one of our most innovative leaders, James E. Lee - cyber and identity theft expert, and Iris Devriese - an #AI risk underwriter (yes, there is such a thing). Agenda is posted in comments. If you are interested in joining the confab, just message me. Thanks to Franklin Manchester, CPCU, Dominic Lee, ACAS, and Lennon Dodson Cianciulli for making this happen!

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There's no denying that AI is set to transform the #insurance landscape, but industry professionals are still figuring out the best possible use cases for the technology. For P&C insurers, AI shows the greatest potential for reducing transactional friction, enabling competitive pricing, and improving the customer experience. The tech is also speeding up underwriting, providing underwriters with more in-depth insights. As more insurance professionals adopt AI though, it's important to establish liability policies and ethical standards to ensure the tech is used with care and consideration. #InsurTech #AI #Insurance #Underwriting

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This is a great article about how we are leading innovation in the insurance industry. It describes three key lessons we learned from our experience. Check out the link below to read the full article.

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Demystifying Insurance: FAQs on Inclusive Insurance, Insurtech, and Digital Advancements #InclusiveInsurance #Insurance #Insurtech #DigitalInsurance #Innovation #ProtectionGap https://lnkd.in/gRXQ9YTu

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Canadian risk managers and C-suite executives face a host of challenges – navigating market volatility and preparing for the increasing frequency of natural disasters are high on that list. Learn insights from HUB International’s Linda Regner Dykeman and Christian Bordage about factors that are shaping the market – and what businesses can do to protect their assets and ensure continuity: https://ow.ly/4BJC30sGpF6 #RiskManagement #ComplexRisk

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