Blog

Feb 14, 2024

Geo-Location Data in Insurance.
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The Critical Importance of Solid Geo-Location Data in Insurance.


In the increasingly complex world of insurance and reinsurance, the focus on solid geo-location data has never been more pronounced. As industries evolve and the accumulation of risk exposures from various clients becomes a significant concern, the reliance on accurate location-specific data has surged. The era of submitting vague addresses in spreadsheets is rapidly becoming obsolete, thanks to the growing demand for precision in the property insurance sector. This blog explores the pivotal role of solid geo-location data in mitigating risks and enhancing insurance capacity, and how 21RISK is at the forefront of revolutionizing this space by delivering cutting-edge geo-located data solutions, for companies to share with insurers and brokers.

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Feb 12, 2024

Understanding Climate-Related Risk Exposure
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Introduction

In an era where climate change is not just a distant threat but a present-day challenge, businesses across the globe are facing an unprecedented need to adapt and evolve.

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Jan 17, 2024

Understanding Lithium-Ion Batteries and the Phenomenon of Thermal Runaway
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Introduction to risk mitigation of Lithium-Ion batteries

In the era of modern technology, lithium-ion batteries have become the backbone of portable energy solutions. Powering everything from smartphones to electric vehicles, their efficiency and energy density are unmatched. However, with great power comes great responsibility – and in the case of lithium-ion batteries, this means understanding and mitigating the risks associated with thermal runaway.

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Oct 01, 2023

NIS 2 cyber directive - The phases of NIS 2 implementation
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The NIS2 (Network and Information Systems Directive 2) builds on the foundation of its predecessor, NIS1, with the primary goal of bolstering cybersecurity and network security across EU member states. In light of the evolving cyber threat landscape, this directive mandates stricter requirements, further collaboration between member states, and more extensive reporting obligations.

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Oct 01, 2023

In-depth insight into Earthquake Risk and Its Impact on Businesses
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The world is in constant flux, and businesses face countless challenges, including the risk of natural disasters like earthquakes. This blog aims to share vital knowledge to assist companies in gaining a deeper understanding of earthquake risk and its potential impact on their operations.

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Sep 21, 2023

Unlock Your Perfect Natural Hazard Insurance Coverage
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Natural disasters are becoming more and more unpredictable, but your insurance coverage doesn't have to be. With the rising complexities of natural hazards, insurance and its ever-evolving insurance rates, businesses are faced with the challenge of not just insuring their assets but understanding the depth of their coverage.

Too much coverage is money thrown down the bin, too little is potentially destructive and dangerous for your financial situation.

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Sep 08, 2023

Vercel, Doppler, MongoDB, and review apps
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Use review apps to improve your developer experience. How we benefit from Vercel, MongoDB, and Doppler to enable powerful review apps 🚀

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Sep 05, 2023

Hiearchy in 21RISK
Blog author

We are adding support for hiearchies in 21RISK - and it's such an important feature that we would like to describe in more detail why and how this can benefit most large organizations.

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Jun 01, 2023

Navigating the Complex World of International Compliance
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From varying labor laws to distinct environmental regulations, international compliance is a complex domain. In this post, we'll delve into strategies to navigate international compliance and ensure your global business operations remain on the right side of the law.

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May 29, 2023

Why Compliance Matters: The Cost of Non-Compliance for Businesses
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In an increasingly regulated business landscape, compliance is not merely a legal requirement—it's a strategic necessity. This blog post explores the potential costs of non-compliance and why businesses should prioritize compliance in their operations.

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May 29, 2023

Compliance Audits 101: Preparing Your Business for Success
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While compliance audits may seem daunting, with the right preparation, they can become a strategic asset rather than a hurdle. In this post, we’ll explore the basics of compliance audits and offer some practical tips to prepare your business for a successful audit.

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May 26, 2023

Decoding Regulatory Compliance: A Guide for Startups
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Among the various hurdles startups face, understanding and managing regulatory compliance often stands out. In this blog post, we aim to demystify regulatory compliance for startups and provide practical steps to navigate this essential aspect of business.

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May 26, 2023

The Role of Employee Training in Ensuring Compliance
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At the heart of this compliance lies the importance of effective employee training. This article explores the role of employee training in ensuring compliance and offers strategies for implementing effective training programs within your organization.

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May 26, 2023

A Deep Dive Into Compliance Technology: Latest Trends and Innovations
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In this blog post, we take a deep dive into the world of compliance technology, exploring the latest trends and innovations that are redefining this crucial business area.

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May 16, 2023

Conditional Viewing On Reports
Blog author

Checklists with a lot of questions can quickly become super messy, and a hassle to keep up with. To solve this issue we are introducing conditional viewing on our platform.

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Apr 11, 2023

Implementing ISO Standards in Large Organizations
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Successfully implementing ISO standards involves a systematic approach, informed by real-world examples like Siemens, Toyota, and Nestlé.

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Apr 03, 2023

The Rising Flood Risk in China: A Cautionary Tale for Businesses 🇨🇳🌊
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The increasing number of severe flooding events in China highlights the importance of understanding and managing flood risk for businesses, and taking crucial steps such as assessing flood vulnerability, implementing flood protection measures, and developing a flood emergency plan can help protect business operations from the impact of flooding.

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Apr 03, 2023

Busy? At Least Make Sure to Include These Key COPE Factors! 🏢🔥🌊
Blog author

Managing accurate COPE (Construction, Occupancy, Protection, and Exposure) information is crucial for assessing risk and securing appropriate insurance coverage, and capturing information about construction details, occupancy type, fire protection measures, security features, and exposure to hazards can help ensure effective risk management.

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Apr 03, 2023

5 Reasons Why Accurate COPE Information is Crucial for Your Business 📊🔍
Blog author

Maintaining accurate and up-to-date COPE (Construction, Occupancy, Protection, and Exposure) information is crucial for effective risk management and can lead to better risk assessment, insurance underwriting, loss prevention, claims processing, regulatory compliance, and long-term success of a business.

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Apr 03, 2023

3 Key Considerations When Buying Insurance for NatCat-Exposed Locations 🌏🌪️🌊
Blog author

To purchase insurance for a location exposed to natural catastrophes, one must assess local risk factors, customize their coverage to address unique risks, and collaborate with experts such as insurance professionals and risk management experts to develop a comprehensive insurance plan. 

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Jan 09, 2023

Migration from Cypress to Playwright - hype or great?
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Automated tests are essential for delivering high-quality software. Since 2018 we have been using Cypress, but have decided to move to Playwright. Hype or great - read our verdict 🤓

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Dec 05, 2022

Automations are now live 🤖
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Send an email when an action changes status to completed? Automations are now live at 21RISK. It's a powerful feature that makes it easy to cover your exact needs and requirements, directly in our software.

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Nov 03, 2022

Hard insurance market
Blog author

According to Marsh, we have had more than 20 consecutive quarters with a hard insurance market. 

The premiums are primarily driven by the direct insurers but after the latest re-insurance meeting in September in Monte Carlo, the re-insurers seem to follow up.

If your company has suffered a major damage, e.g. fire damage, then you will probably look into a renewal where the insurance companies are reluctant and will demand higher premiums or support with less capacity.

On top of that, inflation and a shortage of production will contribute to an increase in insurance premiums in 2023. 

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Oct 26, 2022

We are merging our app and marketing site
Blog author

We are excited to announce that we are merging our web application and marketing website. This means that from now on, you only have to visit 21RISK.com. In this blog post, you can read more about the benefits this will provide.

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May 09, 2022

We are building an ecosystem!
Blog author

21RISK establishes a global partner hub.

21RISK has established a partner hub, where experts that work with risk management, compliance and auditing can use our software for free to support their own business, and at the same time obtain a membership that provides referrals to customers who pay for a subscription with 21RISK.

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Apr 28, 2022

From data to insurance
Blog author

Open Insurance / API - Insurance, is all about creating an open environment where data is shared between stakeholders to minimize uncertainties about the risk that needs to be insured.

You will have the power of real-time analytics and data to share between several insurers, letting the lead insurer, as well as co-insurer / re-insurer, share the same data, enabling your insurers to participate with full knowledge of your risk, at a level never seen before.

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