Operations/tech

The reduction in force amounts to less than 10% of the company’s total headcount of approximately 500, a spokesperson told this publication.

The reorganization reflects the carrier’s prioritization of customer service and use of digital tools to help customers and partners.

The 3x3 plan takes the things about the firm over the last decade that have been distinctive and intensifies them.

The cuts amount to roughly 2% of the insurer’s US workforce.

The broker’s share price fell by around 4% after the announcement of its Q3 results and extended restructuring program.

New risk transfer platform will allow MGA, InsurTech, embedded insurance customers cost-effective path to building “full-stack” insurance operations

The report said that, to date, ransomware victim numbers for 2023 have already surpassed those for the entirety of either 2021 or 2022.

The exercise is understood to involve mainly junior and non-broking staff.

Two studies have found that, while almost a third of back-up attempts fail to restore system data after a ransomware attack, cybercriminals are refining their methods.

The survey found that a majority of Canadian businesses consider cyber threats their top concern and also believe they will eventually fall victim to a cyberattack.

The 2023 Travelers Risk Index has put concern over cyber threats among the top three worries for small, medium-sized and large businesses for the ninth straight year.

A recent Microsoft/Rackspace Technology survey on cybersecurity has insurers expressing less concern over security risks posed by artificial intelligence than other respondents.