The online 2022 FM Global Resilience Index has been released and enhanced, now including 15 economic, risk quality, and supply chain measures that offer executives insights into the vulnerabilities of a country’s business environment and, conversely, its resilience.
The interactive web tool enables decision makers to find and compare objective data about 130 countries and territories to inform strategic decisions as they site new facilities, evaluate their supply chains, assess their business risk around the world, and perform due diligence for mergers and acquisitions.
Two new index measures for 2022, climate risk exposure and climate risk quality, aim to help businesses intensify their focus on emerging environmental perils. The former measure reflects threats such as severe floods and wind storms, while the latter reflects building codes, code enforcement, and facilities improvements.
The 2022 Resilience Index now includes country filters that present specific index data related directly to businesses’ climate risk and environmental, social, and governance (ESG) interests. The two filters enable index users to focus exclusively on the climate risk and ESG-related measures within the Resilience Index to better understand inherent country risks and identify opportunities through these lenses.
Additionally, in recognition of the impact of pandemic risk, the 2022 Resilience Index includes two new measures – health expenditure and supply chain timeliness. Due to the availability of better-quality data, the Resilience Index also contains improved measures for cyber risk and energy intensity, broadened from fossil fuels to now include renewable and clean energy sources.
The Resilience Index sees nearly 20,000 visits per year from global business leaders from numerous sectors, including chemicals, education, forest products, healthcare, mining, molten materials, pharma/biotech, power generation, governments, and semiconductors.
***
CSAA Insurance Group launched CSAA Specialized Services, which offers claims handling, training, and call center support.
CSAA Specialized Services launched call centers for contract tracing, processing unemployment claims, surveying schools to understand personal protective equipment (PPE) needs, and to operate a state vaccine hotline. The unit later expanded to include third-party administrator claims and training programs.
Founded in 1914, CSAA Insurance Group, a AAA Insurer, offers automobile, homeowners, and other personal lines of insurance to AAA Members through AAA clubs in 23 states and the District of Columbia.
***
Gigaforce, an InsurTech provider of a SaaS-based, blockchain-optimized claims platform, launched a new claims intake bot, Gigabot.
Gigabot extracts claim data and documents from the originating software and places it on the Gigaforce platform. As part of the Gigaforce platform, it comes with hyper-automation features including automated file redaction, file indexing, and subrogation scoring.
After Gigabot retrieves claim files, sensitive information, such as personal health information and personally identifiable information, contained in the files is redacted through robotic process automation and machine learning.
The platform also splits documents and other unstructured data based on embedded values, with machine learning for OCR and data extraction. It can create and maintain distinct files, with different personnel assigned to each file. Artificial intelligence is utilized to sort files into categories and/or subcategories, and documents are automatically split so data appears in the appropriate area. Human intervention is needed only for governance to confirm files have been successfully managed by the system. The platform can also identify subrogation opportunities and subsequently provide a score for recovery potential.
Sources: FM Global, CSAA Insurance Group, Gigaforce