Hamburg (ots) – the German insurance industry is in the technology terminal. This is the conclusion of the insurance broker Aon Risk Solutions in its latest market report (http://ots.de/Ff2jM). “On one hand, the insurance industry is required by its corporate clients. They should provide the appropriate insurance solutions for the transformation of the German economy on the path to industry 4.0 On the other hand, the insurance industry is itself under pressure to modernize – initiated by the digitalization, the other industries already changed radically has” says Hartmuth Kremer-Jensen, Managing Director at Aon in Germany.
According to Kremer-Jensen industry is 4.0 the central theme for German companies and their insurance coverage. “Industry 4.0 changed production and delivery processes, in that they are networked and automated. Almost all existing labor, procurement and sales processes are changed by Industry 4.0,” said the Aon expert, the big challenge, the industry 4.0 for insurance Wirtschaftet means, emphasizes: “The use of new technology will result in greatly altered liability scenarios between all market participants for claims from damages in the course of industrial 4.0 is often made the difficulty in determining who may be held liable for the damage this will.. new challenges to the Liability Insurance questions. ”
In particular, the verification of adequate coverage for damage resulting from use of IT would mandatory for companies. That applies also in the light of the expected interfaces for insurance of cyber risks. Because even here the action of the company was great. “The threat of cybercrime is growing,” says Kremer-Jensen.
Basically, the insurance industry is indeed well positioned to help companies with the challenges they encountered by industry 4.0 and cyber risks. But they have their own concerns with new technologies: Digitization has reached the insurance industry. Although long since would have understood that a company’s website is not sufficient to meet the customer needs for contemporary communication and transparency to market participants. In implementing good digitization strategies hapere but. “Most vendors who are at home primarily in the retail business, are still looking for the right appearance in social media. Market participants who have their focus in the insurance and advising corporate clients, hope, meanwhile, on a good electronic processing platform on which the diverse needs be met by insurers, brokers and customers alike, “says Kremer-Jensen.
During the Aon expert the insurance industry looks challenged, he has for their corporate customers good news: “.. The customers will receive attractive insurance deals in most lines of insurance prices are stable or even slightly decreasing” With a slight increase in prices calculated Kremer-Jensen only in insurance risks. Although the prices have been raised already, the yield of the insurers have no relevance improved in property insurance sector because large losses have eroded the higher revenues from price increases. Bad news has Kremer-Jensen on the other hand for the salvation of nature and the recycling industry. “They are among the few areas that can be obtained only a limited supply of insurance market,” said the Aon expert.
The full report of Aon on the German insurance market in 2015 there http://ots.de/Ff2jM here.
Aon is a leading global provider of risk management, insurance and reinsurance brokers and consultant for Human Resources. Worldwide, more than 69,000 people for Aon in over 120 countries. In Germany around 1,700 employees at eight locations for the companies operate. The Germany headquarters is in Hamburg. For more information on Aon there under www.aon.com. More about Aon in Germany can be found at www.aon.de. Under www.aon.com/manutd You can check on the global partnership between Aon and Manchester United.
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