Sun, 17th Nov 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Sun, 17th Nov 2024" was published on November 16, 2024.

November 16, 2024 · Insurance News Wrap

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Summary

In this week's Financial Services Online podcast, Paige Estritori discusses the steep rise in Australian insurance premiums due to escalating severe weather events. The culprit is linked to climate change and a dependence on oil and gas, sparking calls for affordable green energy alternatives. The episode also highlights the growing interest in adopting Artificial Intelligence (AI) in the insurance sector, with two-thirds of insurers planning to integrate AI solutions in the next two years. Alongside technological advancements, the Australian Prudential Regulation Authority is exploring innovative insurance solutions like catastrophe bonds. Lastly, insurance brokers are given a valuable resource: CGU's newly-released Strive guide, a tool to navigate increasing uncertainties, including affordability, underinsurance, and the impacts of technology and climate change on the sector.

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