Pierpaolo Marano – författare

Big Data Analytics in the Insurance Market is an industry-specific guide to creating operational effectiveness, managing risk, improving financials, and retaining customers. This book will be a ''must'' for people seeking to broaden their knowledge of big data concepts and their real-world applications, particularly in the field of insurance.

The insurance industry is largely dependent on data, and the advent of Big Data and analytics represents a major advance with tremendous potential. Yet clear, practical advice on the business side of analytics is lacking. This book fills the void with concrete information on using Big Data in the context of day-to-day insurance operations and strategy.

This book an invaluable resource for any insurance professional from practitioners and policymakers working at insurance companies, to undergraduate and graduate students of economics management, and finance.

Providing high quality academic research, ESFIRM provides a platform for authors to explore, analyse and discuss current and new financial models and theories, and engage with innovative research on an international scale.

Big Data Analytics in the Insurance Market is an industry-specific guide to creating operational effectiveness, managing risk, improving financials, and retaining customers. This book will be a ''must'' for people seeking to broaden their knowledge of big data concepts and their real-world applications, particularly in the field of insurance.

The insurance industry is largely dependent on data, and the advent of Big Data and analytics represents a major advance with tremendous potential. Yet clear, practical advice on the business side of analytics is lacking. This book fills the void with concrete information on using Big Data in the context of day-to-day insurance operations and strategy.

This book an invaluable resource for any insurance professional from practitioners and policymakers working at insurance companies, to undergraduate and graduate students of economics management, and finance.

Providing high quality academic research, ESFIRM provides a platform for authors to explore, analyse and discuss current and new financial models and theories, and engage with innovative research on an international scale.

The book addresses a topic at the intersection of two heavily regulated sectors: insurance and investment services. Until recently, scholars and professionals have approached insurance and investment services as two separate categories in the financial services sector, and as being governed by separate regulatory frameworks. In practice, however, the boundaries were and are blurred, a reality that regulators have begun to recognize and address in their more recent regulatory texts.

The first part of the book approaches the new standards applicable to investment products based on insurance: insurance-based investment products (IBIPs). These rules are harmonized across the EU. The rationale behind this new definition is provided, together with a description of these products’ limitations. The analysis addresses the new rules and explores the legal regime and relevant standards applicable to IBIPs. The organizational rules concerning the design and distribution of IBIPsare also examined, and the book highlights e.g. how these rules are inspired by the principles of conduct. In closing, the ADR systems are analysed, in order to ascertain whether or not they can offer an effective tool for settling disputes over these products.

In turn, the second part focuses on the liability for distribution of IBIPs, which ranks as one of the most conspicuous and relatively new legal phenomena, but at the same time, represents an exceptionally important field of civil liability in today’s world. Liability is still regulated at the national level. Thus, the four largest life insurance markets in the EU are considered, along with the largest emerging market for life insurance. The chapters on national laws also consider whether, and if so, how the new harmonized rules on IBIPs are being combined with those already in force in the jurisdictions considered. The goal is to determine whether the new rules are likely to change the doctrine and case law approach tothese products, or whether the European legislators’ choices have no real impact on the protection of clients.

This Volume of the AIDA Europe Research Series on Insurance Law and Regulation explores the key trends in InsurTech and the potential legal and regulatory issues that accompany them. There is a proliferation of ideas and concepts within InsurTech that will fundamentally change the market in the next few years. These innovations have the potential to change the way the insurance industry works and alter the relationships between customers and insurers, resulting in insurance products that are more closely aligned to individual preferences and priced more appropriately to the risk. Increasing use of technology in the insurance sector is having both a disruptive and transformative impact on areas including product development, distribution, modelling, underwriting and claims and administration practice. The result is a new industry, known as InsurTech. But while the insurance market looks to technology for greater efficiency, regulators are beginning to raise concerns about managing potential risks.

The first part of the book examines technological innovations relevant for insurance, such as FinTech, InsurTech, Sharing Economy, and the Internet of Things. The second part then gathers contributions on insurance contract law in a digitalized world, while the third part focuses on cyber insurance and robots. Last but not least, the fourth part of the book discusses legal and ethical questions regarding autonomous vehicles and transportation, including the shipping industry, as well as their impact on the insurance sector and civil liability. Written by legal scholars and practitioners, the book offers international, comparative and European perspectives.

The Chapters "FinTech, InsurTech and the Regulators" by Viktoria Chatzara, "Smart Contracts in Insurance. A Law and Futurology Perspective" by Angelo Borselli and "Room for Compulsory Product Liability Insurance in the European Union for Smart Robots?” by Aysegul Bugra are available open access undera CC BY 4.0 license at link.springer.com. All three open access chapters were funded by BIPAR.

This Volume of the AIDA Europe Research Series on Insurance Law and Regulation focuses on transparency as the guiding principle of modern insurance law. It consists of chapters written by leaders in the respective field, who address transparency in a range of civil and common law jurisdictions, along with overview chapters. Each chapter reviews the transparency principles applicable in the jurisdiction discussed.

Whether expressly or impliedly, all jurisdictions recognize a duty on the part of the insured to make a fair presentation of the risk when submitting a proposal for cover to the insurers, although there is little consensus on the scope of that duty. Disputed matters in this regard include: whether it is satisfied by honest answers to express questions, or whether there is a spontaneous duty of disclosure; whether facts relating to the insured’s character, as opposed to the nature of the risk itself, are to be presented to the insurers; the role of insurance intermediaries in the placement process; and the remedy for breach of duty.

Transparency is, however, a much wider concept. Potential policyholders are in principle entitled to be made aware of the key terms of coverage and to be warned of hidden traps (such as conditions precedent, average clauses and excess provisions), but there are a range of different approaches. Some jurisdictions have adopted a “soft law” approach, using codes of practice for pre-contract disclosure,  while other jurisdictions employ the rather nebulous duty of (utmost) good faith. Leaving aside placement, transparency is also demanded after the policy has been incepted. The insured is required to be transparent during the claims process. There is less consistency in national legislation regarding the implementation of transparency by insurers in the context of handling claims.

This volume focuses on transparency as the guiding principle for insurance regulation and supervisory law. All chapters were written by experts in their respective fields, who address transparency in a wide range of European and non-European jurisdictions. Each chapter reviews the transparency principles applicable in the jurisdiction discussed. While the European jurisdictions reflect different facets of the principle as emerging from EU law on insurance, the principle has developed quite differently in other jurisdictions.

This book provides a comprehensive analysis of jurisdiction and law applicable in cross-border insurance matters. The first book to address cross-border insurance cases from the perspective of European Union regulations, international conventions, and national laws applicable to insurance and insurance-related issues, it explores the concept of cross-border insurance issues and specific institutions related to insurance matters. In the process, it covers both classic private international law matters and specific issues, such as autonomous vehicles in cross-border cases, new technologies, and the Insurance Distribution Directive (IDD).

Given its focus, the book offers a valuable asset for academics, judges, legal practitioners and insurance companies, and other institutions frequently dealing with cross-border insurance matters.