DAXEL took part in INESE's Insurance Week 2024

DAXEL Insurance Services has witnessed the most important national event for those of us who are part of the insurance sector. It is impossible not to highlight the immense effort and dedication to organize an event of such magnitude.

From innovative panel discussions to unparalleled networking opportunities, INESE's #SemanadelSeguro has once again proven to be the epicenter of knowledge, trends and advances that will shape the future of our industry.

Thank you, INESE, Susana Pérez, and your entire team, for creating such an enriching space and for promoting growth and excellence in the insurance industry.

Miami Reinsurance Week 2024

This year DAXEL Insurance Services was honored to participate in Miami Reinsurance Week. A unique annual event where global industry leaders gather to share, learn and discuss the challenges and opportunities facing our industry.

Miami Reinsurance Week has not only allowed us to connect with professionals from all over the world, but also to understand the direction the insurance and reinsurance market is taking and how, from our diverse capabilities, we can contribute to strengthen and make our environment more resilient.

We would like to extend a special thank you to all our partners and organizers for the invitation to this significant event: WTW, Starr Insurance, Aon, Hamilton, #Lloyd's, AIG and OdysseyRe.

To everyone who has been part of this experience: thank you for the inspiring conversations, valuable insights and opportunities for collaboration.

We at DAXEL wish you all a Merry Christmas and a Happy New Year 2024!

From DAXEL Insurance Services we wish you all a Merry Christmas and a Happy New Year 2024.

May these days be filled with unforgettable moments, surrounded by love, laughter and the company of those you cherish. May the coming year 2024 bring you prosperity in all aspects of your life.

Merry Christmas and Happy New Year! 

Magnificent Christmas cocktail party hosted by CAI, Club de Aseguradores Internacionales

On December 13, we had the pleasure of attending the Christmas cocktail party held by CAI with all its members at the ARGO Club in Madrid.

A magnificent meeting in which Francesc Rabassa, President of the Club, highlighted the growth in the number of members and the fulfillment of the objective set at the beginning of the year, to hold a monthly event both professional and cultural.

From DAXEL we want to thank and give our most sincere congratulations to the CAI for promoting the relationship between partners by promoting personal and professional relationships within the sector and effective networking.

AI: New products for new risks

DAXEL did not want to miss the Dragons' Den Pitch organized by Lloyd's Lab Futureminds, led by Iryna Chekanava. This Lloyd's Lab-driven project focused on developing insurance products that cover the risks associated with Artificial Intelligence (AI).

The growing interest in AI and its associated risks reflects the accelerating adoption of AI-driven models and technologies in the insurance industry. Although insurance products designed to mitigate these risks are in early stages, their crucial role in AI implementation and regulation is undeniable.

Dragons' Den Futureminds, as an innovation program, aims to enable emerging insurance professionals to access the tools and skills necessary to develop ideas from the identification of client problems to the presentation of validated product concepts. The ultimate purpose is to create validated insurance products with the potential to be incubated and tested in the insurance market.

The Futureminds Dragons' Den session provided a venue for us to learn about five new tools developed by the working groups during the program. These innovative products address key aspects of the risks associated with AI:

- Team 1 - Developed AI catastrophe bonds for AI failures and non-aligned performance with the goal of influencing a shift towards effective AI risk management and actively contributing to the development of pro-human AI.

- Team 2 - Presented a smart manufacturing and risk transfer solution, offering product recall coverage for manufacturing companies using AI models/software in their manufacturing process.

- Team 3 - Devised a risk engineering solution to support customers in understanding and securing the risks they take with the use of AI.

- Team 4 - Proposed a solution for potential labor displacement as the use of AI increases, to support those affected, either through government or business.

- Team 5 - Presented a use case for the risks arising from the use of AI to support valuations in the market for species with increasing frequency.

The session also provided an opportunity to deepen the understanding of the risks associated with AI, thanks to the intervention of Marco Io Giudice, Head of Emerging Risk at Lloyd's. According to his comments, AI risks underline the need to proactively adapt to constantly evolving challenges, emphasizing that "New risk demands new products". This strategic and forward-thinking approach is essential to address emerging risks in the insurance and cybersecurity sector.

Presentation of the Insurance Solidarity Awards 2023

Yesterday we attended the 'Premios Solidarios del Seguro' (Insurance Solidarity Awards) organized by INESE.

It is very exciting to see the social commitment and solidarity of the insurance sector, and we do not want to miss it.

At DAXEL Insurance Services, our dedication to social responsibility remains unwavering. Solidarity knows no bounds, and we are committed to continuing to be agents of change.

Big celebration party on the 9th anniversary of IBERIAN Insurance Group

DAXEL had the pleasure of attending the fantastic party celebrating the 9th anniversary of IBERIAN Insurance Group.

DAXEL Insurance Services would like to express our most sincere congratulations to IBERIAN Insurance Group for these impressive nine years of success and for setting a standard of excellence in our industry.

Our utmost gratitude for making us part of the #IXBERIANDAY that, with more than a hundred colleagues from the sector, we were able to enjoy yesterday, undoubtedly a reflection of the exceptional work and team spirit that characterize IBERIAN Insurance Group and its motto #WorkingTogether.

Some of the keys to its success: excellent work, tireless effort and team spirit. IBERIAN Insurance Group has had a resilient attitude that seeks not only individual, but collective success.

From DAXEL we admire your entire team, which is a reflection of your CEO Dario Spata, focused on the excellent work he has merged with his wasteful generosity in which he always puts the interests of others before his own individual interests.

This 9th successful anniversary is the 'magic' of years of dedication, effort, passion and determination, and deserves recognition. Congratulations to the entire IBERIAN Insurance Group team for this #IXBERIANDAY, and for the strong and positive footprint they are leaving in the insurance industry.

Congratulations IBERIAN Insurance Group!

Major event to mark the start of operations in Spain of Mexican broker ANCORA Seguros y Fianzas

Our most sincere thanks to ANCORA Seguros y Fianzas for making us part of their magnificent celebration of the beginning of operations in Spain.

It has certainly been very inspiring to meet his team and learn more about his successful track record in Mexico.

At DAXEL we are confident that their innovative approach and commitment to service excellence will bring great value to the insurance market in our country.

As Enrique Murguía Pozzi explained in a magnificent reflection, just as 'the cow does not give milk', the success of ANCORA Seguros y Fianzas comes from its continuous effort, work and passion for doing things well.

Thank you again for giving us the opportunity to be part of your exciting journey in Spain.

We have no doubt that ANCORA Seguros y Fianzas will have all the success in the world in this new chapter. Their dedication, experience and passion are a guarantee of a bright future.

We attended the panel on Artificial Intelligence organized by Lloyd's Lab

We are excited to have attended the panel on Artificial Intelligence hosted by Lloyd's Lab at the iconic Old Library, with top industry professionals and AI experts.

The panel of experts shared with us interesting news about the Artificial Intelligence revolution in insurance.

An invaluable opportunity to delve into the landscape of Artificial Intelligence and its risks in the markets. We at DAXEL are excited to learn more about the innovative products that will revolutionize insurance, with a particular focus on cybersecurity and sustainability.

The future of insurance and Artificial Intelligence is incredibly exciting.

The power of Artificial Intelligence in transforming the insurance world, explore the threats and opportunities involved in the evolution of Artificial Intelligence and its impact on the risk landscape.

DAXEL attends the 34th AGERS Congress

At DAXEL we didn't want to miss the 34th Congress of AGERSThe Spanish Association of Risk Management and Insurance, where top-level speakers shared their views on risk management and the main trends in the Spanish insurance market.

There were also sessions on Artificial Intelligence and the importance of ESG criteria and sustainability. In addition to the intervention of the President of FERMA Risk Leadership at the heart of Europe, which was a unique opportunity to learn about key aspects of risk management at the international level and the strategic figure of captives.

Undoubtedly, a unique annual opportunity where hundreds of industry and risk management professionals have gathered to share their enriching knowledge and deepen their understanding of key aspects of risk management.

We at DAXEL would like to extend our most sincere congratulations to AGERS - Spanish Association of Risk and Insurance Managementand especially to Alicia SolerExecutive Manager of AGERS and to Juan Carlos PorcelPresident of AGERS, for this great event and the excellent organization.

Managers on the front line: How to protect against cyber-attacks?

In recent weeks we have seen a dizzying growth in cyber attacks. Cases such as the cyber-attack in Las Vegas on the MGM Resorts business group, which paralyzed its systems in hotels and casinos and caused losses of around 100 million dollars, or the cyber-attack suffered by the Air Europa airline, revealing the credit card data of a large number of its customers.

Artificial Intelligence (AI) is undoubtedly helping to detect and thwart cyber attacks, but this, in turn, is enabling cybercriminals who can use it to increase the speed, accuracy and frequency of their intrusion attempts .

Senior management must give priority to this issue, since the impact that an organization may suffer as a result of a cyber-attack can have serious financial and reputational consequences, as well as civil liability to third parties, and/or even the imposition of heavy penalties by the authorities.

Add to this an increasingly complex regulatory environment with higher fines, and it is not surprising that Boards of Directors are becoming increasingly concerned about this issue.

Within this framework, the management bodies, being ultimately responsible for any cyber incident suffered by the company, must use all the means at their disposal to guarantee the integrity of the organization, its employees and third parties that may be affected by the incident.

Among the main actions to be carried out to ensure the organization, the following should be noted:

  • Identify and prepare the Risk Assessment.
  • Incorporate cybersecurity in the Security Master Plan.
  • Train and raise awareness among employees.
  • Implement the Zero Trust policy.
  • Review and update procedures and measures to mitigate exposure to attack.
  • Include investment and renewal of IT systems.
  • Design and update the Incident Response Plan and the Business Continuity and Contingency Plan.

From an insurance standpoint, it should be noted that Directors' and Officers' liability may or may not be covered in the D&O policy and by the cybersecurity policy.

Given these circumstances, brokers are a fundamental pillar in helping companies to protect themselves from these cyber-attacks, through a policy that covers, among others, the interruption of services, the possible destruction of data, the risks derived from the privacy of such data, as well as the reputational damage that these breaches cause to companies and the responsibility of Senior Management, as well as in the immediate response to the incident, in order to mitigate the impact of the cyber-attack and its possible consequences.

In conclusion, it is essential for Administrators and Managers to have insurance policies that fully protect them against cyber-attacks on their organizations.

DAXEL participates in the summit organized by the three European Supervisory Authorities held at the Prado Museum

DAXEL participated in the meeting organized by the European Insurance and Occupational Pensions Authority (EIOPA), the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the Comisión Nacional del Mercado de Valores (CNMV), on the occasion of the 10th Consumer Protection Day meeting, which took place in the emblematic Prado Museum.

During the event, crucial topics on trends and challenges that are transforming the world of finance and insurance, including cross-selling, cryptocurrencies and greenwashing , have been discussed.

We share with you some of our reflections on the topics discussed.

  • Cross-selling:

One of the highlights of the event was the emphasis that cross-selling can be a valuable tool for organizations when practiced responsibly. It reminds us of the primary obligation we have to ensure that customers are protected at all times.

We share the importance of ensuring that our recommendations to clients are in line with their needs and their particular circumstances.

It is our obligation to act in the best interest of our clients, providing them with clear and complete information on the options available and enabling them to make informed decisions.

Cross-selling is a strategic and valuable tool when used correctly. It is the obligation of all the actors in the sector to do it responsibly and with consideration for our customers.

  • Cryptocurrencies:

The event also explored the challenging world of cryptocurrencies and their impact on finance. It discussed their advantages but also their risks and how these can affect the industry.

The cryptocurrency panel explained the importance of the new MiCa (Markets in Crypto Assets) regulation as an essential part for the regulation of the cryptocurrency market, thus expanding its security, as it includes rules for the monitoring of cryptotransfers, prevention of money laundering, market manipulation and consumer protection.

During the event, we explored the key aspects of this regulation and how it will affect operations in our sector.

  • Greenwashing:

The importance of continuing to work closely with greenwashing was recalled. The increase in demand for investment in companies with sustainability-related characteristics was followed by an increase in offers from companies claiming to have and apply a range of sustainability governance processes and tools.

There is a need to achieve full transparency in corporate compliance with respect to sustainability. As consumers demand more sustainable businesses, we are committed to offering products and services that truly reflect a full commitment to sustainability and ESG factors.

Customers and authorities alike demand transparency, accountability and ethics in our operations. We are determined to lead on this front and to set an example in the insurance industry.

At DAXEL we are committed to digitalization and sustainability, bringing regulatory compliance to the highest level of priority in order to provide responsible, innovative and efficient solutions to our customers.

Innovation in insurance: protecting companies' success

At DAXEL, we have taken on the challenge of reinventing the way companies protect their future.

In a world increasingly moving towards digitalization and sustainability, we believe it is time for the insurance industry to adapt to the changing needs of the market.

Our vision is clear: to offer customized, innovative and efficient insurance solutions that allow us to anticipate solutions to any type of future contingency.

What does this mean for you and your business? It means access to customized, fully digitized insurance that is tailored to your unique needs. Our strong belief in sustainability drives us to reduce our environmental impact and promote responsible practices throughout our value chain.

At DAXEL, we are not only transforming the way insurance is designed, but also contributing to a more sustainable future for all. Our insurance solutions are designed to move your business towards a safer and more sustainable future. From environmental friendliness to social responsibility and sound governance, we are here to protect businesses at every step.

At DAXEL, we believe in a future where businesses not only survive, but thrive. Our digitizing solutions will give you the tools you need to make informed decisions and reduce risk, all while protecting yourself and moving towards a more sustainable world.

Stay tuned, we will soon share more details on how you can be part of this transformation. The choice is yours. Are you ready to lead the change? We are!

We invite you to be part of this revolution in business insurance!