Dr.Amany Elmahy’s Post

How Commercial Insurance is Evolving in 2025 As businesses continue to evolve, the commercial insurance space is also seeing significant shifts. Here are the top trends shaping the industry: 🔐 Cyber Insurance: Cyber threats are on the rise, making cyber insurance a necessity, not a luxury. Comprehensive policies now cover everything from data recovery to legal fees and reputational damage. You may only hear about the big companies being attacked, but I can assure you that small business are just as much at risk, if not more. 📈 Rising Premiums: Expect insurance premiums to continue climbing due to natural disasters, inflation, and supply chain disruptions. Be prepared to implement risk mitigation strategies. If your current agent is not shopping your policies with different carriers, reach out to one who will. 🌍 ESG & Sustainability: Insurers are rewarding businesses that prioritize sustainability and ESG (Environmental, Social, Governance) practices with better terms and coverage for climate-related risks. 💻 Tech-Driven Innovation: AI, telematics, and automation are transforming claims processing and underwriting, offering more personalized coverage and giving insureds the ability to implement tech-driven risk control. 💼 Gig Economy Solutions: New policies are emerging to meet the needs of freelancers and contractors with flexible, tailored insurance. 🏥 Employee Benefits: As employee well-being becomes a top priority, insurers are expanding workers’ compensation and holistic benefit offerings to cover mental health and wellness programs. Staying ahead of these trends and working with a trusted agent can position your business for long-term success. Are you ready for 2025? #CommercialInsurance #CyberInsurance #ESG #RiskManagement #InsuranceTrends #BusinessGrowth #InsuranceAgent

𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐋𝐞𝐚𝐫𝐧 𝐀𝐥𝐥 𝐲𝐨𝐮 𝐍𝐞𝐞𝐝 𝐓𝐨 𝐊𝐧𝐨𝐰 𝐀𝐛𝐨𝐮𝐭 (𝐋𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧)-IndustryARC™ IndustryARC updated the market research study on “𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭” Forecast (2024-2030) 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞@https://lnkd.in/d9EEmUzS The #transportation industry's rapid growth in emerging economies is expected to favorably impact the logistics #insurance market. As the transportation industry expands, the volume of goods transported also increases, leading to a higher risk of damage or loss during transit. The increased risk makes logistics insurance important for both shippers and carriers. Additionally, the transportation infrastructure may be less developed in emerging economies than in established markets, creating additional cargo risks during transit. 𝐊𝐞𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 💻📦 The logistics insurance industry is embracing digital technologies, including AI and blockchain, to streamline claims processing and improve customer service. This shift towards automation enhances operational efficiency and reduces manual errors, ensuring faster and more transparent operations in the logistics sector. 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐂𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 🔐🌐 With the rise of digital logistics systems, the demand for cybersecurity in insurance policies has surged. Insurers are increasingly offering specialized coverage for cyber threats, addressing risks such as data breaches, hacking, and other digital vulnerabilities that could disrupt supply chains. 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐆𝐫𝐞𝐞𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬🌱🚚 As businesses focus on reducing their carbon footprints, logistics insurance providers are incorporating environmental risk management into their policies. Insurers are offering products that cover eco-friendly initiatives, including green fleets, carbon-neutral deliveries, and sustainability-driven business models, aligning with global trends toward sustainability. 𝐆𝐞𝐭 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨@https://lnkd.in/dWSYwYE9 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: AIG |Allianz|Agenzia Hub -Zurich Insurance Group|Chubb|Tokio Marine Seguradora |Sompo Holdings|MS&AD Insurance Group|Mitsui Sumitomo Insurance Group|AXA|QBE Insurance|Berkshire Hathaway Specialty Insurance|Munich Re|Hannover Re|Lloyd's|Generali|RSA|MAPFRE|GREAT EASTERN|AIA|Prudential Financial|Manulife Financial Advisers Pte Ltd|Aviva|FWD Insurance|Sompo ✨ (𝐂𝐫𝐞𝐝𝐢𝐭 𝐂𝐚𝐫𝐝 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐟 𝟏𝟎𝟎𝟎$ 𝐨𝐧 𝐚𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞𝐬 | 𝐔𝐬𝐞 𝐂𝐨𝐝𝐞: 𝐅𝐋𝐀𝐓𝟏𝟎𝟎𝟎 𝐚𝐭 𝐜𝐡𝐞𝐜𝐤𝐨𝐮𝐭)@https://lnkd.in/dJQRcJSn #LogisticsInsurance #SupplyChainRisk #CargoProtection #FreightInsurance #LogisticsSolutions #SupplyChainSecurity #InsuranceInnovation #RiskManagement #TransportInsurance #GlobalLogistics

As we step into 2024, the insurance industry stands at the cusp of significant transformation, driven by a blend of technological innovation and evolving market dynamics. FTI Consultingunveils the pivotal shifts poised to redefine the landscape of insurance. At the heart of this evolution is the maturation of Artificial Intelligence (AI), promising to refine operational efficiencies, usher in novel risk assessment methodologies, and cultivate more dynamic customer engagement strategies. However, this journey is not devoid of challenges, with regulatory scrutiny intensifying over the use of AI, highlighting concerns over bias and fairness. Another trend reshaping the horizon is the shifting consumer expectations, propelling insurers to overhaul traditional operating models in favor of digital-first approaches. The burgeoning demand for direct-to-consumer distribution channels and the rise of embedded insurance signify a departure from conventional practices, urging insurers to embrace agility and innovation. Furthermore, the escalating threat landscape, particularly in the cyber domain, underscores the urgent need for robust cyber insurance solutions, as insurers grapple with the complexities of pricing and coverage in the face of burgeoning cyber risks. Five Sigma emerges as a strategic ally in navigating these turbulent waters, offering an AI-native platform that aligns and propels forward the 2024 trends and ready for the future too! By leveraging cutting-edge technology, Five Sigma enhances operational efficiency, empowers data-driven decision-making, and facilitates seamless customer interactions. Our platform embodies the convergence of technology and insurance, enabling insurers to not only anticipate but effectively respond to the evolving market demands and regulatory landscapes. As insurers venture into this transformative era, Five Sigma stands ready to equip them with the tools necessary for success in a rapidly changing world. #InsuranceTrends2024 #AIinInsurance #CyberRisk #ConsumerExpectations #ClimateChange https://lnkd.in/eWPemESa

🌅 Morning Insurance Insights: Latest Trends & News 🌅 Good morning! Here’s your daily dose of insurance updates to keep you informed. 🔹 AI & Automation Impacting Insurance: Insurers are increasingly adopting AI to streamline claims processing and enhance customer service. This trend is expected to cut down claim settlement times significantly, benefiting both insurers and policyholders. 🔹 Cyber Insurance Demand Rising: With the increasing number of data breaches, businesses are now prioritizing comprehensive cyber insurance. New coverage options are emerging to protect against evolving cyber threats. 🔹 Electric Vehicle Insurance on the Rise: As EV adoption grows, insurers are crafting policies that cater specifically to the unique risks and maintenance requirements of electric vehicles. 🔹 New Regulation Alerts: Stay updated with recent regulatory changes, including the UK’s Financial Conduct Authority (FCA) proposing stricter rules around customer transparency and loyalty penalties in the insurance sector. 🔹 Climate Change & Insurance Costs: Insurers are reassessing risk models due to the rise in climate-related disasters, leading to a potential increase in premiums for home and property insurance. Start your day informed and ready to navigate the changing insurance landscape! Stay tuned for more updates.

𝐆𝗹𝗼𝗯𝗮𝗹 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐) The global commercial insurance market size reached US$ 864 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,554 Billion by 2032, exhibiting a growth rate (CAGR) of 6.53% during 2024-2032. Increasing awareness of business risks, evolving regulatory requirements, the rise of technology-enabled risk assessment, the growing impact of natural disasters and climate change, and the surge in cyber threats are influencing the market growth. 𝐆𝐫𝐚𝐛 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://lnkd.in/dYETUQbc 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬: ● 𝐄𝐯𝐨𝐥𝐯𝐢𝐧𝐠 𝐑𝐢𝐬𝐤 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞: As mentioned before, the types of threats businesses face are constantly changing. Cybercrime, climate disasters, and supply chain disruptions are just a few examples. Commercial insurance needs to adapt to keep pace. This means insurers are developing new coverage options and risk mitigation strategies to address these emerging issues. ● 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐚𝐧𝐝 𝐃𝐚𝐭𝐚 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: Technology is a major driver in the commercial insurance market. Big data and analytics allow insurers to crunch vast amounts of information, leading to more accurate risk assessment and pricing for individual businesses. This translates to customized policies that better reflect a company's specific needs. Additionally, technologies like telematics and IoT devices provide real-time data on a business's operations. ● 𝐒𝐡𝐢𝐟𝐭𝐢𝐧𝐠 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞: Government regulations can significantly impact the commercial insurance market. Regulatory changes can influence the types of coverage offered, pricing structures, and even the risk tolerance of insurers. For instance, stricter data privacy laws might impact cyber insurance offerings. Businesses and insurers alike need to stay informed about these regulatory shifts to ensure they are compliant and have adequate coverage. 𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲: Allianz American International Group Aon plc Aviva plc AXA S.A. Chubb DIRECT LINE INSURANCE GROUP PLC MARSH & McLENNAN COMPANIES. Willis Towers Watson Public Limited Company Zurich Insurance Group Ltd. 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://lnkd.in/gZCBXhVz #commercialinsurance #marketresearch #business #marketanalysis #markettrends #researchreport #marketreport #marketforecast #marketgrowth #businessinsights #industryanalysis #marketoutlook #growthprojections #marketstatistics #competitiveanalysis #trendanalysis #marketinsights #imarcgroup

Given the time of the year we are in, many companies are now tackling strategy for 2025, and the Short-Term insurance industry is no different. Have you thought about your own strategy on how to keep yourself relevant, push yourself to new heights, or simply keep up with the evolution of this market? A starting point may be to understand what the focus of the strategic focus may possibly be for 2025. Below is a summary of some of the main areas predicted, and what the relevance of keeping your skills and expertise sharp in this are would mean to you.🔪💥⭐ ➡ Digital Transformation & AI Integration: Relevance: Professionals who can leverage AI to enhance efficiency and deliver personalized customer solutions will stand out. Deep understanding of digital tools can make insurance professionals indispensable - IOL | News that Connects South Africans - COVER WebMag ➡ Climate Risk Expertise: Relevance: Those with a strong grasp of climate risk and adaptation strategies will be valuable assets to insurers looking to protect clients against climate-related disasters - Aon South Africa ➡ Cybersecurity Knowledge: Relevance: As the cyber threat landscape evolves, insurers will need specialists who can advise on comprehensive cyber insurance policies and mitigate risks - COVER WebMag ➡ Sustainability and ESG (Environmental, Social, and Governance): Relevance: With companies focusing on sustainability, insurance professionals versed in ESG criteria will be in demand to advise clients on green policies and sustainable investments - COVER WebMag ➡ Regulatory Compliance & Risk Management: Relevance: Knowledge of evolving regulations will be crucial in helping companies remain compliant and avoid penalties, ensuring long-term stability - IOL | News that Connects South Africans ➡ Customer-Centric Solutions: Relevance: Personalizing customer experiences through data-driven insights will make professionals valuable, especially as clients seek more tailored insurance offerings - COVER WebMag To stay ahead in the 2025 insurance market, professionals should pursue a strategy that blends technical expertise in digital tools and climate risk with regulatory knowledge and client-focused innovation. A commitment to lifelong learning and adaptability will make them more indispensable as the industry continues to evolve.🎓 #antalsa #shortterminsurance #insurance

The insurance market is constantly evolving, with several trends and developments currently shaping the industry. Some key topics and challenges in the insurance market today include: 1. Increasing digitization: Insurers are increasingly adopting digital technologies to streamline operations, improve customer experience, and enhance data analytics capabilities. 2. Cyber insurance: With the rise of cyber threats and data breaches, there is a growing demand for cyber insurance coverage to protect businesses from financial losses and reputational damage. 3. Climate change and natural disasters: Insurers are grappling with the increasing frequency and severity of natural disasters, such as hurricanes, wildfires, and flooding, which are leading to higher claims payouts and insurance costs. 4. Regulatory changes: Insurers are facing regulatory challenges and changes in various jurisdictions, which can impact their operations, product offerings, and compliance requirements. 5. Emerging risks: Insurers are adapting to new and emerging risks, such as autonomous vehicles, the sharing economy, and pandemics, which require innovative insurance solutions and risk management strategies. With insurance rates increasing after every renewal and some over 60%. It's never a bad idea to get some quote as it never hurts! Contact my office 715-514-4006.

🔍 Exciting developments in the insurance industry! 📊💡 I'm thrilled to share some insights on how advanced data analysis is reshaping the insurance sector. 🌐📈 From risk assessment to personalized products and services, data analytics is revolutionizing decision-making processes and addressing evolving consumer needs. 🔹 Ashleigh Gwilliam, Director of Insurance Industry Growth at FullCircl, emphasizes the impact of predictive analytics on risk assessment. Vast amounts of information can now be analyzed, allowing for more accurate pricing, individualization of policies, and mitigation of future losses. Data analytics also plays a crucial role in identifying fraudulent claims and improving detection rates. 🔹 Rajeev Gupta, Co-founder and Chief Product Officer of Cowbell, highlights how advanced data analytics simplifies processes and improves efficiency and accuracy, particularly in cyber risk assessment. By streamlining workflows and automating processes, businesses can reduce costs and gain clarity about their cyber risk posture in just minutes. 🔹 Scott Logie, Chief Commercial Officer at an independent UK consultancy, emphasizes the power of AI-driven tools in enabling personalized quoting, dynamic policy management, and streamlined claims processing. Analytics, especially those underpinned by AI, empower more efficient decision-making across the insurance pipeline and customer lifecycle. 🔹 Sarah Carver, Head of Retail Banking, Wealth, and Insurance at Delta Capita, points out three key areas where advanced data analysis brings value to insurers. It enables better risk evaluation and personalized risk assessments, enhances customer insights and servicing, and drives efficiency and precision in internal processes. 🔹 Alex Littlejohn, Executive VP at Alliant Retail P&C, highlights how analytics impact decision-making for both insurers and insureds. Insurers can leverage analytics to review, charge, and provide capacity on insurance programs, while insureds can make informed decisions about limits and deductibles, optimizing their insurance coverage. These are just a few examples of how advanced data analysis is reshaping the insurance industry and driving innovation in products and services. Exciting times ahead! 🚀📊 #InsuranceIndustry #DataAnalytics #Insurtech #DecisionMaking #Innovation

The Evolution Of Corporate Insurance: Trends And Predictions For 2024 As we head into 2024, the corporate insurance sector is experiencing substantial changes. It's important for business owners to be informed about the following key trends and forecasts: Please make a note of the following points: 1. Embracing Digitalization The insurance industry is rapidly adopting digital tools and technologies. From AI-powered underwriting to blockchain for secure transactions, digital solutions are boosting efficiency and precision in corporate insurance. 2. Putting Customers First Insurers are moving towards more customer-centric models. This means creating personalized insurance packages that address the specific needs of businesses, ensuring better coverage and satisfaction. 3. Emphasizing Environmental and Social Responsibility There is a growing focus on Environmental, Social, and Governance (ESG) criteria. Insurers are integrating ESG factors into their policies, promoting sustainable practices and responsible business operations. 4. Exploring Alternative Risk Solutions Businesses are increasingly seeking alternative risk solutions beyond traditional insurance. This includes captives, risk retention groups, and parametric insurance, which offer more tailored and flexible coverage options. 5. Adapting to Regulatory Changes New regulations are expected to impact the cost and scope of insurance. Staying compliant with these changes will be crucial for businesses to avoid penalties and ensure continuous coverage. 6. Strengthening Risk Management With the increase in global risks such as cyber threats and climate change, there is a heightened focus on proactive risk management. Insurers are offering more comprehensive risk assessment and mitigation strategies to help businesses stay resilient. How TeamABC Corporate Insurers Can Assist You Tailored Insurance Solutions: We offer customized business insurance packages that meet your specific needs, ensuring comprehensive coverage. Expert Advice: Our team provides ongoing support to help you navigate the evolving insurance landscape and make informed decisions. Competitive Pricing: We negotiate the best rates to ensure cost-effective solutions for your business. Educational Resources: We provide resources to help you understand and make the most of your insurance benefits. Stay ahead of the game with TeamABC Corporate Insurers. Get in touch today to learn more about our corporate insurance solutions and how we can support your business growth in 2024! 📞💼 #CorporateInsuranceSolutions #BusinessInsurancePackages #RiskManagement #SustainableBusiness #TeamABCInsurers

Today’s insurance landscape is more complex and dynamic than ever, shaped by evolving risks, technology advancements, regulatory shifts, and changing consumer expectations. Here’s an overview of key areas to understand: 1. Emerging Risks and Coverage Needs Cybersecurity: Cyber threats are escalating, leading to increased demand for cyber insurance to protect against data breaches and digital liabilities. Climate Change: Natural disasters and climate-related events are more frequent and severe, prompting insurers to rethink coverage strategies and risk assessments. Pandemic-Related Risks: COVID-19 exposed vulnerabilities in health, life, and business interruption insurance, pushing the industry toward pandemic-proof policies. 2. Digital Transformation and InsurTech Data Analytics and AI: Advanced analytics and AI-driven tools are transforming underwriting, risk assessment, and claims processing, offering faster, more accurate insights. Blockchain and Smart Contracts: These technologies streamline transactions, improve transparency, and can reduce fraud by creating immutable records. Customer Experience Innovations: InsurTech startups are driving a digital-first approach, enhancing online policy management, real-time claims support, and customer experience personalization. 3. Shifts in Customer Expectations Demand for Personalization: Modern consumers expect policies tailored to their individual lifestyles, risk profiles, and coverage preferences. Transparency and Education: Customers value clarity on policy details, coverage limits, and claims processes, so insurers must emphasize transparency. Seamless Digital Experiences: With more consumers relying on digital tools, insurance providers need user-friendly platforms for quotes, purchases, and claims. 4. Regulatory and Compliance Challenges Data Privacy Laws: With increased data usage, insurers must comply with strict privacy regulations, such as GDPR and CCPA, to protect consumer information. Global Standardization: As insurance becomes more globalized, aligning with international regulations and standards can be challenging yet crucial. Ethical AI Usage: Regulations around AI are emerging to ensure fairness, especially in underwriting and claims, preventing bias and protecting consumer rights. 5. Focus on ESG (Environmental, Social, and Governance) Sustainable Practices: Investors and consumers increasingly look for insurers who prioritize sustainable investments and environmentally conscious underwriting. Diversity and Inclusion: A focus on inclusive hiring, fair practices, and representation builds trust with both employees and customers. Responsible Investment Strategies: ESG criteria guide many insurers’ investment portfolios, reflecting a commitment to socially responsible business.