Paragon Insurance Holdings

Now that the numbers are tallied, and we've had time to reflect on the fantastic event, we'd like to, once again, recognize our Paragon team, who turned up big for Covenant House's Sleep Out to support homeless youth. They didn’t just hit the ground, literally — they hit the ground running with fundraising efforts, (almost $50,000 raised!), showing what it means to give thanks by giving back. As we gather with loved ones this week, let’s keep those less fortunate in our thoughts and continue working toward a world where every young person has a safe place to call home. Happy Thanksgiving, everyone! ?? #Gratitude #GivingBack #CovenantHouse #Thanksgiving2024 #SleepOut ??

There's gold in them thar hills! Insurance gold, that is. Yes, China’s personal insurance market is looking like a potential gold rush, with annual growth expected to reach as much as 10% by 2035, according to Boston Consulting Group (BCG) estimates. The untapped veins? Health and pension coverage, fueled by an aging population, post-COVID health awareness and government support. By 2035, these products could make up half of the market, transforming the sector from rapid expansion to high-quality solutions. Read more on the report from Reinsurance News: https://lnkd.in/gBfBBRs8 #insurance #china #economy #growth #reinsurance #tech #innovation

Cyber crimes, climate change and business interruptions are the top risk concerns across the insurance landscape, according to the "RiskScan 2024" survey by Munich Re US and the Insurance Information Institute. While insurance pros take a broader view, consumers focus on immediate issues like extreme weather and proliferating cyber threats, and the industry must align solutions with concerns and invest in bridging this disconnect. “The knowledge gap about insurance risks demonstrates the continued need for education of consumers and businesses, especially about flood, cyber, and legal system abuse. Increasing knowledge will be instrumental for the collective work needed to better manage and mitigate future risks,” Triple I CEO Sean Kevelighan explained in the report: https://lnkd.in/gxHq3AfT. #insurance #risks #economy #business #ai #tech #insurtech #cyber #climatechange

What was that? A little louder for those in the back. Ohhhhh, you're super thankful for the Paragon Rider? Don't mention it! ?? ?? ?? But seriously, folks, WE are super thankful for all our subscribers, followers, partners and everybody else who has been part of the Paragon journey. Cheers and have an amazing pre-holiday weekend!

“When it rains, look for rainbows... when it's dark, look for stars." – Oscar Wilde. Several members of Team Paragon will be doing just that tonight, both literally and metaphorically, when they head to Gillette Stadium for the Covenant House Sleep Out. Rain on the forecast isn't going to stop the effort to raise awareness and funds for millions struggling with youth homelessness. There's still time to donate to the cause. Visit the Team Paragon fundraising page for more information on how you can help: https://lnkd.in/gB2DBUvw #CovenantHouse #SleepOut #YouthHomelessness #TeamParagon #MakingADifference #SupportOurYouth #GiveBack #RainOrShine

Bank of Japan Governor Kazuo Ueda’s recent remarks at a forum in Tokyo highlight a growing concern: AI and tech innovation are reshaping the world of finance and, at the same time, amplifying myriad risks. "As financial services grow more diverse and complex, the channels of risk transmission have become less transparent, and current financial regulations may not be fully equipped to manage new types of financial services," he told attendees. "This environment underscores the need for operational resilience, including robust management of cybersecurity and third-party risks." With traditional risk models under pressure to adapt, insurers are poised to play a pivotal role in supporting that resilience. As technology evolves, so must the frameworks for mitigating its unintended consequences. Read the full story from Reuters: https://lnkd.in/gcUg_VD7 #insurance #innovation #cybersecurity #fraud #ai #economy #tech #insurtech #japan #finance #hackers #cyber #tech #growth #risk #riskmanagement

The fact that temperatures have been on a steady increase has stolen much of the headline ink lately when it comes to climate change research, but there are plenty of other alarming numbers to digest. Take wind speeds, for example. They have intensified by an average of 18 miles per hour since 2019, according according to a new Climate Central, Inc. study. “Every hurricane in 2024 was stronger than it would have been 100 years ago,” Climate Central's Daniel Gilford, Ph.D., a climate scientist and lead author of the report, explained. “Through record-breaking ocean warming, human carbon pollution is worsening hurricane catastrophes in our communities.” This study highlights a stark reality for the insurance industry: climate change is reshaping the risk landscape for hurricanes, amplifying their intensity and destructive potential. The data-driven framework not only quantifies the risk but also underscores the urgency for carriers to adapt in a world where "unprecedented" weather events are becoming the norm. Read more on the study: https://lnkd.in/gy5PrrZv #insurance #climatechange #greentech #hurricanes #realestate #flooding #wildfires #economy

The insurance industry finds itself firmly in the crosshairs of an identity fraud crisis that's blowing up around the world, according to a fresh report from Sumsub. In 2024, forged documents, deepfakes and account takeovers have been running rampant, with banking and insurance among the top three most impacted sectors. Fraud cases cost businesses up to $300K each, and the global fraud rate more than doubled in the last three years alone. For insurers, this isn’t just a claims issue — it’s a trust issue. With deepfake attacks up fourfold and fraudsters using artificial intelligence to craft synthetic identities, the industry is facing an adapt-or-else moment. “In 2025, fraudsters will increasingly rely on AI not just for deepfakes – which are, basically, just a tip of the iceberg – but for a broader range of deceptive tools, such as AI-generated identity documents, real-life videos, synthetic voices, and AI-driven chatbots that impersonate real users. These innovations will make fraud harder to detect and more versatile," Sumsub's head of AI/ML Pavel Goldman-Kalaydin explained in the report. Read more from Carrier Management: https://lnkd.in/gFVY4Yiz #insurance #fraud #claims #ai #innovation #insurtech #deepfakes Click here to download the report: https://lnkd.in/gQv2TMbM #techology #cyber #hackers #software #trust #economy

Amazon sent shockwaves across Corporate America when it announced that it's calling its entire workforce back to the office. Full time. So where does the insurance industry stand in this post-pandemic rethink of remote work? Allstate, for one – after cutting two-thirds of its office space and selling its Chicago headquarters – just made a big bet in workplace evolution. Instead of forcing employees back to the desk full time, the insurance giant has pushed toward flexibility, teaming up with LiquidSpace to book coworking spots. Think soundproof libraries, snack nooks and creative hubs instead of rows of gray desks. The result? A major drop in real estate costs — down from $382 million in 2020 to $138 million this year — and a boost in collaboration, training and, yes, happy hours. Will hybrid be the blueprint for the future? Allstate is clearly betting it will be. "The days of cubicle farms are over," their “workplace futurist” Lauren DeYoung told Bloomberg. Whatever the future holds, nobody will be sad about the loss of those dreary farms. Read the full story for all the details: https://lnkd.in/gdPkACZX #insurance #hybrid #workforce #jobs #remotework #wfh #economy #hiring #talent

In the spirit of annoyingly early holiday decorations, we have a mid-November Christmas gift edition of the Rider hand-picked just for you! #toosoon?