Day: February 2, 2021

Lockton Re strengthens partnership with CyberCube

spike 3 weeks ago

Lockton Re, the reinsurance segment of independent broking giant Lockton, will implement CyberCube’s Portfolio Manager product. The news comes after Lockton rolled out CyberCube’s Broking Manager analytics tool last year.

Portfolio Manager will allow Lockton Re to advise its clients on their portfolio exposures for extreme events and how that could inform their reinsurance purchasing options. The tool allows risk professionals to stress test portfolios of insurance risk so that loss drivers and areas of accumulation risk can be identified.

“We are thrilled that Lockton Re has chosen to use another of our products,” said Pascal Millaire, CEO of CyberCube.

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Above-average 2020 natural catastrophe losses “could have been worse”

spike 3 weeks ago

Willis Re noted that the total does not reflect the high level of storm activity last year, due to multiple major storms narrowly missing heavily-populated areas. The North Atlantic hurricane season was the most active on record, with 30 named storms, but few of these made landfall. The most damaging was Hurricane Laura, a Category 4 storm that made landfall in Louisiana in August, causing an insured loss of US$8 billion to US$9 billion.

Instead, most of the insured losses in North America caused by natural catastrophe events in 2020 came from small- and medium-sized events.

In Europe, windstorm Ciara

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Global plastic cards market lose $3 billion amid COVID-19 disruption

spike 3 weeks ago

The COVID-19 pandemic severely impacted the global plastic cards market manufacturing industry last year, according to the International Card Manufacturers Association (ICMA).

Global plastic cards market lose $3 billion amid COVID-19

The 2020 Global Card Market and Personalization and Fulfilment Statistics Reports reveal a total worldwide loss of $3 billion. Most regional geographic markets and vertical markets experienced significant declines in revenue.

The global card manufacturing market is valued at $16.8 billion and the personalisation and fulfilment services market is valued at $7.2 billion, making the overall global card industry a $24 billion market.

“The reports account for a bad

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Biometrics to secure over $3 trillion in mobile payments by 2025

spike 3 weeks ago

A new study has found that biometrics will authenticate over $3 trillion of payment transactions in 2025, from just $404 billion in 2020.

The report found that biometrics, including fingerprint, iris, voice and facial recognition are becoming critical to offering compelling app experiences, as mobile payments begin to take off in the payments landscape.

The extraordinary growth of over 650% will be fuelled by increased use of OEM Pays (such as Apple Pay and Samsung Pay), for both remote and in-store payments, as these applications have already embraced biometric authentication methods.

The research recommends that all payment apps take notice

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