{"id":623,"date":"2021-05-23T09:00:47","date_gmt":"2021-05-23T13:00:47","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=623"},"modified":"2021-05-22T08:45:57","modified_gmt":"2021-05-22T12:45:57","slug":"3-things-5-22-2021","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-5-22-2021\/","title":{"rendered":"3 Things – Cyber Ransom, Partnerships & a New USAA – 5\/22\/2021"},"content":{"rendered":"

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Hi All!\u00a0 This week in insurance we are following cyber ransom, partnership announcements and a ‘new’ USAA.\u00a0 Here are the three things we learned this week:<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Cyber Ransom is Expensive<\/strong><\/p>\n

Ransoms being paid to hackers is a new paradigm in the cyber world.\u00a0 We learned that\u00a0CNA paid $40M<\/a>\u00a0to regain control of their network after a recent attack, this along with the Colonial Pipeline paying a ransom to a similar hacking entity.\u00a0 It will be interesting to see how cyber underwriters will adjust how they provide coverage.\u00a0 Meanwhile,\u00a0Cyber rates are already increasing\u00a0<\/a>as would be expected.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Partnerships and Investments<\/strong><\/p>\n

This week there were partnership announcements that appear to highlight trends: Embedded Insurance:\u00a0 A B2B digital insurance platform\u00a0Boost raised $20M in a series B round<\/a>.\u00a0 Home Insurers Going Public:\u00a0Kin in talks to use go public through SPAC<\/a>\u00a0led by Shank Tank contributor and Bundling Personal Lines: Two newly public SPAC companies\u00a0Metromile and Hippo join forces to bundle home and auto<\/a>\u00a0for the tech minded consumer.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Buckle Creating the New USAA<\/strong><\/p>\n

This was an\u00a0interesting read from Buckle CEO<\/a>, a insurtech that provides rideshare insurance among other things.\u00a0 He is a former vet and investment banker and has vision for how the industry will transform and evolve with reinsurers having the power to be the true risk takers in the value chain.\u00a0 Other good insights as well.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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BONUS – Digital Transformation without Disruption<\/strong><\/p>\n

A bonus item\u00a0comes this week from our own Dan Mets, his latest\u00a0blog discusses digital transformation<\/a>, in case you missed from our post earlier in the week.\u00a0 We hope you enjoy!<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Thank you for following us, we appreciate your feedback on topics and items you would like to hear about.\u00a0 Please schedule a meeting if you would like to discuss anything further.\u00a0 Stay productive, stay safe and stay in touch!<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hi All!\u00a0 This week in insurance we are following cyber ransom, partnership announcements and<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n3 Things - Cyber Ransom, Partnerships & a New USAA - 5\/22\/2021 - Wikifri<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wikifri.com\/3-things-5-22-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - Cyber Ransom, Partnerships & a New USAA - 5\/22\/2021 - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hi All!\u00a0 This week in insurance we are following cyber ransom, partnership announcements and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-5-22-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-23T13:00:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-22T12:45:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png\" \/>\n<meta name=\"author\" content=\"Nick Coenen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Coenen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-5-22-2021\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-5-22-2021\/\",\"name\":\"3 Things - 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