LuxProvide’s Post

Revolutionizing the insurance industry, geospatial property intelligence delivers in-depth insights for risk assessment and disaster management. Want to learn more? Read the full blog here from ICEYE for an in-depth look at enhancing insurance solutions with technology. https://hubs.la/Q02n1HZ60 Do you rely on advanced geospatial analysis to drive your business? Contact New Light Technologies today to discover how you can leverage the best technology solutions to navigate complex challenges. https://hubs.la/Q02n1wJp0 #GeospatialIntelligence #InsuranceInnovation #RiskManagement

Revolutionizing the insurance industry, geospatial property intelligence delivers in-depth insights for risk assessment and disaster management. Want to learn more? Read the full blog here from ICEYE for an in-depth look at enhancing insurance solutions with technology. https://hubs.la/Q02n1JjD0 Do you rely on advanced geospatial analysis to drive your business? Contact New Light Technologies today to discover how you can leverage the best technology solutions to navigate complex challenges. https://hubs.la/Q02n1P2V0 #GeospatialIntelligence #InsuranceInnovation #RiskManagement

Revolutionizing the insurance industry, geospatial property intelligence delivers in-depth insights for risk assessment and disaster management. Want to learn more? Read the full blog here from ICEYE for an in-depth look at enhancing insurance solutions with technology. https://hubs.la/Q02n1TrN0 Do you rely on advanced geospatial analysis to drive your business? Contact New Light Technologies today to discover how you can leverage the best technology solutions to navigate complex challenges. https://hubs.la/Q02n1P2W0 #GeospatialIntelligence #InsuranceInnovation #RiskManagement

We are proud to announce that Reask has been selected as a trusted partner by the Pacific Catastrophe Risk Insurance Company (PCRIC) and The World Bank to support their cyclone policies. A big thank you to PCRIC and The World Bank for trusting our data, and to our fantastic collaborators WTW, JBA Risk Management, and Temblor, Inc.. Our goal at Reask is to deliver comprehensive tropical cyclone risk modelling that reaches even the most remote islands, exactly when they need it. By incorporating the latest climate data into our models, we offer up-to-date hazard insights in a changing world. Our real-time, high-resolution wind fields contribute to the novel people-focused parametric insurance solution through the use of machine learning on a combination of climate and proprietary data sets. 🙏 A big thank you to David Schmid for driving this project forward. 🔗 Read more: https://lnkd.in/eRBmJpB2 ✉️ Talk with Reask via contact@reask.earth #ParametricInsurance #TropicalCyclones #ClimateRisk #ClimateChange #AI #Resilience #ExtremeWeather #DisasterRiskManagement #ClimateResilience #RiskModeling #ProbabilisticModeling #NaturalDisasters #DataDrivenDecisions #CatastropheModeling #GeospatialData #ClimateData #InsurTech #ParametricSolutions 

Geospatial property intelligence and satellite-based monitoring stand at the forefront of the #insurance industry's fight against climate change, enabling insurers to adopt more proactive, preventive strategies in managing catastrophe risks. Our collaboration with tech partners like Betterview and Guidewire Software exemplifies how technological advances can help insurers revolutionize the way they protect society from #ClimateChange’s worsening effects. Read more about this topic in our latest blog post: https://hubs.li/Q02mG3Hw0.

𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐋𝐨𝐜𝐤𝐭𝐨𝐧'𝐬 𝐒𝐩𝐫𝐢𝐧𝐠 2024 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐃𝐞𝐬𝐢𝐠𝐧 𝐔𝐩𝐝𝐚𝐭𝐞 In the rapidly evolving sectors of construction and design, staying ahead with strategic risk management and comprehensive insurance solutions is crucial. The March 2024 Lockton Market Update offers deep insights into the unique challenges and opportunities these industries face today, thanks to the collective expertise of our dedicated team of contributors. (22 contributing authors!) 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐜𝐞: Amidst mixed economic signals, the U.S. economy has shown resilience. This backdrop affects project financing and investment trends in the construction sector. With the Fed maintaining elevated interest rates, planning and forecasting become even more vital. 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐚𝐧𝐝 𝐖𝐨𝐫𝐤𝐞𝐫𝐬’ 𝐂𝐨𝐦𝐩𝐞𝐧𝐬𝐚𝐭𝐢𝐨𝐧 𝐓𝐫𝐞𝐧𝐝𝐬: As property insurance rates continue to rise, albeit at a slower pace, understanding these shifts is essential for budgeting and risk planning in construction projects. Moreover, the competitive workers' compensation market offers opportunities for cost savings and improved coverage strategies. 𝐂𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐢𝐧 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧: With digital transformation accelerating in our field, cyber threats are a growing concern. The update provides insights into maintaining robust cyber defenses, crucial for protecting intellectual property and sensitive project data. 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: Navigating the complex liability landscape, especially with increasing social inflation and litigation funding, requires strategic foresight. Our update explores how companies can adapt to these changes, ensuring coverage adequacy against evolving risks. 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐓𝐡𝐢𝐧𝐤𝐢𝐧𝐠 𝐚𝐧𝐝 𝐑𝐢𝐬𝐤 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧t: This edition emphasizes the importance of strategic risk assessments and long-term planning. For construction and design professionals, leveraging detailed market insights helps in making informed decisions about insurance purchases and risk retention. As we navigate 2024, let’s use these insights to forge stronger, more resilient risk management frameworks in the construction and design sectors. For more detailed insights and tailored advice, visit the full Lockton Market Update: https://lnkd.in/gxuPg5kg Stay connected, stay informed, and let's build a safer, more predictable future together! #Construction #Design #RiskManagement #Insurance #Lockton #EconomicTrends #CyberSecurity #LiabilityInsurance #StrategicPlanning

This is an excellent post and summary of Lockton’s Construction and Design Market Outlook from my friend and partner, Greg Cushard. There is a lot to be thinking about in the Construction Risk Market these days! #lockton #locktonconstruction #Design #RiskManagement #resilience #forwardthinking

Howden have just launched a Resilience Lab to improve risk identification and management. Good modelling of risk is essential in developing robust strategies for considering mitigations and how we build in resilience. And this point on building resilience is essential, not least of all when it comes to insurance. My interest in this comes from looking at what's happening in countries like Australia and New Zealand where insurance is increasingly becoming unaffordable and/or products are being withdrawn. And we're increasingly seeing this elsewhere. This is hugely problematic - for householders, asset owners, communities, businesses. And increasingly it's becoming an issue for the wider financial system. Linked to this, Mark Carney in 2015 spoke about the Tragedy on the Horizon - well worth a read -> https://lnkd.in/e9GE6wtS We need to be having much wider conversations, including those directly affected. And there is no simple solution. https://lnkd.in/eiDqBTeQ