ESKA Watch: Sky-High Inflation Tests Global Insurers

By: Ahmad Sweiss

Economists speculate whether soaring consumer prices could still provide insurers with a silver lining as policymakers rush to counter record inflation and safeguard price stability over economic growth.

These are challenging times for the insurance and other growth-driving industries, heavily weighed by the pandemic aftermath, the war in Ukraine, and the surge in commodity prices amid growing fears of supply disruptions. Meanwhile, insurers are closely monitoring the related inflationary pressures, with headline inflation, the Consumer price index (CPI), hovering around its highest level in four decades. Simultaneously, markets are eyeing world central banks, expected to wave their magic wands against the inflation crisis before it takes an immense toll on the global economy. Still, we doubt that casting more counter-inflation spells will be as enchanting as in the old days. Only time will tell if it does!

In this article, we explore the correlation between inflation and insurance, the effect of inflationary pressures on claims and premiums, and how monetary policy decisions could influence the outlook of this resilient industry.

How to deal with stress at work?

By: Ola H. Azzouqa 

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Chronic worry and emotional stress can trigger health problems. According to Zippia, 83% of US workers suffer from work-related stress, with 25% saying their job is the number one stressor in their lives.

Work pressure can be energy consuming; but it should not be. Face the triggers, keep a point of view, and know when to seek help.

The job you work in is a potential cause of stress, and the causes of workplace stress are many such as workload, interpersonal issues, inability to have a work-life balance, and job security. Sometimes, you may be sensitive to certain stressors that don't seem to bother others. However, you can combat the effects of stress at work. Effectively dealing with stress at work can benefit your professional and personal life. Here are some tips to help you deal with it.

Paper vs Digital: The Power of Going Paperless

By: Batool Abu Zaghleh 

Have you ever imagined a digitalized world where you don’t need to use a single piece of paper in it? Well, welcome to digital transformation.

The idea of creating a paperless office was first theorized in 1975 by Vincent E. Giuliano. Almost five decades later, many offices have not managed to make the leap to a paperless environment.

What does it mean to go paperless?

Going paperless is the act of limiting the use of paper in an office environment by converting paper-based processes into a digital form. For instance, you can request tasks, give approvals, and file documents without the need to use a single piece of paper. Thanks to software systems that can be tailored to suit the needs of your business.

The Telecom Value Fabric, what is it and how does it work?

By: Lotfi Al-Sarori

The telecommunications market is booming. According to Grand View Research, the global telecom service market was valued at 1,657.7 billion USD in 2020 and is expected to grow by a CAGR of 5.4% between 2021 and 2028 to reach 2,467.01 billion USD.

CSPs

Telecom operators are now part of a classification of service providers known as communications service providers (CSPs). According to Gartner, a CSP is a business that offers any type of service of connectivity, information, media, content, entertainment, or application over any type of telecommunication, computer, or data networks. These companies include telecom operators, content and application providers, media broadcasting providers, Cloud communications service providers, and Internet service providers (ISPs).

Insurance Challenges and Digitalization in 2022

By: Lotfi Al-Sarori

As the whole world was on the precipice of the COVID crisis and its effects, a lot of remarkable impacts were registered in business history as a whole. This impact can also be seen in the insurance industry as the pandemic had its toll on this key sector. Insurance businesses worldwide faced many challenges during the pandemic.

In this article, we focus on three main challenges facing the insurance industry in 2022. The first one has to do with the direct impact of the pandemic itself while the other two relate to how the pandemic created or intensified the need for workforce expansion and better cybersecurity.

Why the trend towards product diversification requires intelligent billing software?

By: Omar Abdul-Hafiz and Lotfi Al-Sarori

In recent years, telecom has been shifting more towards product diversification. Instead of selling a simple SIM card, telcos are now expanding their sales to include wireless Internet, fiber optics, and cloud subscriptions among many other services. This trend generally stems from the intention of CSPs around the world to variegate their sources of revenue.

This diversity in products, however, raises a serious issue: How can we maintain a wide assortment of products while keeping the billing process smooth and hassle-free?

Business Systems: A walk down history lane

By: Omar Abdul-Hafiz

In a previous article, we briefly discussed the history of how Data Analytics became as we know it today. We talked about how it began with Statistics, and how it evolved eventually and combined with advanced information technology, led to the birth of Data Science.

Not too far from it, in this article, we will discuss a related field: Business Systems! Ever wondered how they came to be what they are today?

Well, you are about to find out!

A Cybersecurity Primer – Part II: Data Security

By: Lotfi Al-Sarori 

In our previous article, we discussed the topic of system security as the first area in our coverage of the various aspects of cybersecurity. In this article, we continue the same topic to go over another essential area of IT security, data security. So, without further ado, let’s get started.

Data Security

Data security encompasses securing it from being altered, whether purposefully or accidentally. Information security practices must protect data against theft, damage, or compromise. There are various angles to consider when discussing data security. Here, let us approach them from two perspectives: the CIA triad and data protection stages.

How can healthcare applications help medical personnel?

By: Lana Bawaneh

The world is experiencing rapid change in almost every aspect, especially in innovation, technology, and digitalization. Technology has transformed almost all industries and healthcare is no exception.

In this revolutionary era, the demand for healthcare apps is rising. Today, there are different types of healthcare applications that have made it possible for patients and doctors to stay connected and consult without even stepping out of their homes. These applications made it very easy for users to access their medical records and treatments which reduced the need for in-person doctors’ visits.

In a previous article, we talked about the several ways healthcare mobile apps can play a vital role in speeding up the healthcare process, and how they help patients to improve their healthcare experience. In this article, we will shed some light on how mobile applications can help medical personnel.

A Cybersecurity Primer – Fundamentals of System Security

By: Lotfi Al-Sarori

The significance of cybersecurity cannot be overemphasized. Information security has been a big concern ever since computers were invented. According to a recent Forbes article, Cybersecurity Ventures expects that there will be a new cybersecurity attack every two seconds. This amounts to more than 43 thousand attacks per day and almost 16 million attacks per year. Cybersecurity Ventures also estimate the cost of Ransomware to reach $265 Billion by 2031.

An effective cybersecurity approach ensures that authorized users have secure access to information. This is achieved by applying proven IT security principles and standards. Information security practices vary and come in numerous shapes and forms. They cover various areas from identity management and access control to data encryption, deploying network security devices such as firewalls, and more.