FEATURE:
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FEATURE:
Reassuring partnerships
The long and winding road
The world of bancassurance
The dos and don’ts of choosing an underwriter
.TV
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Risky business?
DECEMBER 2017 • ISSUE 203
Innovators lead development in Asia Accenture recently held its fourth annual FinTech Innovation Lab, during which participants demonstrated their latest software developments to top executives Blockchain and artificial intelligence were the leaders of the pack; of note was Blocko – a blockchain infrastructure provider in South Korea that offers customers a digital identity, digital signatures and smart contracts. CoverGo, meanwhile, can offer insurance providers insights into their customers by aggregating their insurance policy information and highlighting gaps in cover that need filling, and Singapore-based microUmbrella offers customers short-term policies such as travel insurance for a single day (or longer if needed), or temporary mobile phone insurance. With the company promising that all claims will be processed on mobile, with no forms and no queues, the movement towards AI is certainly gaining momentum. In the health insurance arena, Stash is offering a single health claims platform for patients, hospitals and insurers. The firm will analyse claims data submitted to it in an effort to prevent fraudulent claims from being processed, while at the same time minimising administrative costs for all involved.
A survey conducted for the report reveals the increasing responsibility of the Europe-based risk manager in regards to health, safety and security risks, and their contribution to their organisation’s travel risk management policy and decision process in an environment of changing travel risks. Key insights from the report include:
• Geopolitical climate (41 per cent) and globalisation of organisations’ activity (39 per cent) play a large part in the complexity of a risk manager’s task. • Cyber security (68 per cent) is considered to be risk number one for mobile workers. Mental health is a significant concern (45 per cent) as well as social media (33 per cent). • 67 per cent of organisations consider that their exposure to health, safety and security risks linked to workers’ mobility has increased over the last two years. Marc Burrows, head of global mobility services at KPMG, commented: “Expanding geographies, particularly into emerging markets, coupled with developed world expectations around
risk management and compliance, creates a need for a different approach to global mobility operations and increases the risks associated with a mobile workforce. All of this must be considered in the context of business continuity, reputation and brand protection being of paramount importance to global CEOs.” Laurent Fourier, executive director of the International SOS Foundation, noted: “Organisations are faced with an increasingly challenging and complex world of domestic and international pressures, rapid growth of the mobile workforce and increased regulations. We know that organisations want to make a
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The Federation of Risk Management (FERMA), the International SOS Foundation and KPMG recently released Workers on the move: Managing new risks, a joint paper providing insight and practical advice for companies on managing the risks associated with business travel