In recent years as it has become increasingly clear that technology, IT leadership and project management skills need to become an essential weapon in a modern insurance company’s armoury. That’s why I made a point of attending this year’s Monte Carlo Reinsurance Rendez-Vous to see if there was anything I could take away from the event that would be of interest to Fifth Step’s CIO and IT Leader clients, and which they should be aware of from RVS 2017.Darren Wray
Some insurers are implementing only the minimum data protection standards as required in a jurisdiction—but this approach will cause problems for them, according to Darren Wray, CEO of consultancy firm Fifth Step. Financial services companies need to get on the starting blocks in time for the GDPR in 2018 http://ow.ly/m3so30flwp4Darren Wray
Intelligent Insurer Magazine Interview: Potentially Interconnected Cyber Events Can’t Be Predicted Accurately.
“The cyber market now is where the natural catastrophe market was in the early 2000s,” said Darren Wray, chief executive officer interview exclusively by Intelligent Insurer magazine. He explained that previously in the nat cat market, re/insurers knew there would be a certain number of storms over the course of the year but the information was more anecdotal than data-led.Darren Wray
Cyber insurance is currently seen as one of the few growth segments in re/insurance, attracting market players perceiving it as profitable business and looking to gather data to base future underwriting on. But profitability may quickly decline as the risks remain unclear, capacity expands and higher risk organisations buy cyber insurance as a way of reducing their risk exposure, warns Darren Wray, CEO of Fifth Step, in an exclusive article with Intelligent Insurer.Darren Wray
Intelligent Insurer interviews Fifth Step's Darren Wray in Monte Carlo: understanding the cyber storm
The re/insurance industry’s current understanding of cyber is not good enough, meaning large and potentially interconnected cyber events can’t be predicted accurately. “The cyber market now is where the natural catastrophe market was in the early 2000s,” said Darren Wray, chief executive officer of boutique consultancy firm Fifth Step.Darren Wray