InsurTech weekly - The end of cyber insurance as we know it?
Florian Graillot
September 23, 2023
Newsletter
Florian Graillot
September 23, 2023
For the second year in a row, a reinsurer shared its mixed feelings about the cyber insurance market.
That’s what you can learn in the first article of this week’s wrap-up. It’s summarizing MunichRE’s views recently share at an insurance event in Monaco, highlighting both opportunities and threats in that market. If Cyber InsurTech is probably the hottest trend in the insurance innovation space, the reinsurer also drafts how it sees the future of that industry and its own initiatives to keep being able to carry these risks.
The second article is Gartner’s hype cycle shared as of mid-2023, detailing how it sees the maturity of several technological trends – including generative AI – in the current market. And you may be surprised by other technologies waves considered in that infographic!
Finally, the third article is detailing generative AI impact on Financial Services, or at least how this technology is expected to revamp that industry. Each of them is ranked depending on both customers’ and providers’ interest to highlight those that are expected to happen first.
Munich Re management board member Stefan Golling has warned that the carrier – the industry’s largest cyber reinsurer – is prepared to exit business within the class that carries potentially systemic exposures.
On a regular basis, Gartner releases an update of its famous Hype Cycle chart, detailing where several technologies stand in terms of maturity, interest, adoption. And there are way more than just generative AI to consider!
As Financial Services is usually listed among top industry expected to be revamped with generative AI, this was specifically discussed at Finovate NYC. A chart showing how these technologies could impact the FinTech space was displayed and ranked initiatives based on both customers’ and suppliers’ perspectives.
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