There is a significant issue of underinsurance in new risk categories that needs to be addressed, says founder of Marcus Ryu , Guidewire , who is seen as one of the global thought leaders on insurance. Ryu pointed to risks to individuals including those created by the sharing economy and drones and risks to enterprises relating to potential supply chain disruption and product recalls, citing Galaxy Note 7 ’s Samsung recall which he said could cost the firm at least $5bn in losses. Guidewire founder Marcus Ryu told a packed audience of more than 1,500 insurance people that there is a big underinsurance issue and the industry needs tackle it more extensively. Guidewire is more than 1,500 of the biggest general insurance technology firms in the world.
There is a significant issue of underinsurance in new risk categories that needs to be addressed, says founder of Marcus Ryu , Guidewire , who is seen as one of the global thought leaders on insurance. Ryu pointed to risks to individuals including those created by the sharing economy and drones and risks to enterprises relating to potential supply chain disruption and product recalls, citing Galaxy Note 7 ’s Samsung recall which he said could cost the firm at least $5bn in losses. Guidewire is more than 1,500 of the biggest general insurance technology firms in the world.