LONDON, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Weighing risk against reward is a key concern in all aspects of the financial services industry, but is particularly pertinent for the insurance sector. The role of insurers can be broadly characterised as protecting individuals and business from unforeseen circumstances, which encompasses everything from natural disasters to mass data breaches. Businesses within the sector, however, must play this important protective role, while also exposing themselves to a certain level of risk to ensure strong revenue growth.
The World Finance Global Insurance Awards recognise those that tread the fine line between prudence and profitability in an innovative and responsible way.
The global insurance industry entered 2018 on a strong footing, following positive premium growth in the previous year. The sector has remained in the black throughout the year, which has encouraged key institutions to expose themselves to risk in an effort to further boost profits, a trend that is expected to continue into 2019. Indeed, BlackRock found in its Global Insurance Report that almost half of insurers plan to increase portfolio risk over the next 12 to 24 months, compared to just nine percent in 2017.
As in many other areas of financial services, insurance titans continue to be disrupted by the rise of smaller ‘insurtech’ firms. These innovative start-ups are employing pioneering technologies in a bid to increase their market share. This in turn is driving firms to take a more agile approach, which has seen them commended by World Finance in its Global Insurance Awards.
To see what sets the winners apart from the crowd, pick up the latest issue of World Finance, available in print, online and on tablet now.
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For more information, please contact:
Elizabeth Matsangou,
Head of Editorial,
World News Media
+44 (0)20 7553 4162
elizabeth.matsangou@wnmedia.com