A study by digital payments platform Diesta has unearthed time lags for insurers to receive premiums, as well as frictional costs created by inefficient premium processing.
While Blueprint Two was expected to move the market to a data-first approach, firms have different views on when the industry will reach this new destination and rid itself of document-led processes.
At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.
A panel of sustainability leaders from Conduit Re, Axa XL, Convex and Vantage Risk discussed the need for a consistent methodology to measure underwriting emissions at the Bermuda Climate Summit.
Contrasting views have been shared on the feasibility of carriers deploying risk capital, at scale, for a proposed war insurance pool to support Ukraine's rebuilding projects.
The consultancy has outlined the financial guarantees needed from governments and availability of data from Ukraine that will enable insurers to provide risk capacity for the country's recovery.
