Evan Greenberg was on Mad Money w/ Jim Cramer on July 30th and shared his forecast of where Chubb and the insurance industry is heading in the next 18 months.
Evan Greenberg, Chubb Limited (formerly ACE Limited) CEO sat down to talk to Jim Cramer on Mad Money.
One of the questions Cramer asked about was the digitization that Chubb is moving towards.
Greenberg had this to say:
"We're in a world that's going from analog to digital. Everything is! If you remain analog, you're history!"
To see what else he had to say about how Chubb will be changing over the next 18 months watch the video below
Evan G. Greenberg Facts
Evan Greenberg has been in the insurance industry since 1975 and has been named CEO of a number of companies, including AIG holdings, AIG's foreign insurance organization and AIG Far East.
Chubb Insurance is the world's largest publicly traded P&C insurance company and the largest commercial insurer in the U.S
Share Your Thoughts in the Comments
If Evan Greenberg is right, what changes do you predict will come to the insurance industry?
Leonardo DiCaprio can help protect your business... Here's How
Leonardo DiCaprio is a hugely popular actor from movies like inception and The Great Gatsby.
One movie that he was nominated for was "Catch Me If You Can", where he plays a con artist name Frank Abagnale Jr.
What you may not know is that Frank Abagnale Jr is a real person and "Catch Me If You Can" is based on his true story.
Between the ages of 15 and 21 Abagnale was a conman, check forger and imposter who assumed not less than 8 identities and stole $2.5 million dollars over his 5 years as a criminal.
After serving just 5 years of a 12 year prison sentence, Frank Abagnale Jr was brought into the FBI as a special consultant for financial fraud.
Since then he has founded a financial fraud consultancy company called Abagnale & Associates to help businesses protect themselves from fraud and cyber crimes.
An interview by Wired revealed some of his expertise on cyber crime and how to protect yourself it.
When asked if he respected some of the capabilities of today's cyber criminals, Frank Abagnale answered: "No. They are breaking the law"
then he went on to say, "A lot of what happens is our fault"
"For example, I've been involved with the FBI for 37 years. Every case involving cyber crime that I've been involved in, I've never found a master criminal sitting somewhere in Russia or Hong Kong or Beijing. It always ends up that somebody at the company did something they weren't supposed to do. They read an email, went to a website they weren't supposed to. So they opened the door that allowed the person to get in. It's not that these people are that talented but they wait knowing that with a company of 10,000 employees someone is bound to open the door. They just wait for that door to be open."
When asked how individuals can protect themselves his answer was, "It's an education thing."
It's important to be careful with what you post on social media and to educate yourself.
He also stated, "Technology breeds crime and we are constantly trying to develop technology to stay one step ahead of the person trying to use it negatively"
What can you do to protect yourself from cyber crime
Abagnale Jr offered this advice:
Never post Front facing pictures online.
These photos, along with information like where you are from, date of birth, etc are about 98% of what a cyber criminal needs to steal your identity.
Never use a USB drive that isn't yours.
One of the things he does to expose the risks that companies face is to randomly place USB ports on the ground that read 'confidential'. When those curious workers pick up that USB and plug it into the computer they are greeted with a message that reads "This is a test and you failed".
Read More: What To Do After A Cyber Attack
Using this advice, as well as having the proper insurance coverage, can help you protect yourself from being hacked or having identity theft issues arise.
Controlling Mosquitoes at Home
It's Mosquito Season and the fight to prevent the spread of Mosquito borne illnesses starts right in your backyard. The Asian Tiger mosquito is one of the common Zika transmitting mosquitoes that live in our area so it's important that we do everything we can to do our part in keeping the community safe.
The list below of things that can be done to help keep the mosquito population to a minimum was originally published by the CDC, so be sure to implement everything you see on this article.
Remove standing water where mosquitoes could lay eggs
Kill mosquitoes outside your home
Control mosquitoes inside your home
Keep mosquitoes out
Kill mosquitoes inside your home
How do you protect your home from mosquitoes?
Especially if you live along the water or have a pool in your back yard, Mosquitoes can be a real problem so leave your tip in the comments
Zurich Insurance Group put together its flood resilience program about 5 years ago to help communities handle flood risk better.
Zurich is managing to give back much more to these communities than ever before thanks to their Flood Resilience measurement framework.
To learn more about what Zurich Insurance Group is doing, watch this video below.
Independence Day is just 2 days away and if you’re like most people, you probably can’t wait for the barbecue, fun and fireworks.
And before Independence day kicks into high gear, we want to make sure to give you a few safety tips for fireworks to make sure you take precautions for fourth of July.
As you know, playing with fireworks is a very dangerous thing and it’s important that you share these firework safety tips with your friends and family before lighting fireworks.
Here’s a short news clip of what could happen if an accident happens with fireworks...
Safety tips for when using fireworks:
1. Put sparklers in a bucket of water once they are out. They can still cause burns when they are no longer lit.
2. Stay away from ground-based sparkler devices
3. If a sparkler or fireworks does not go off, douse it with water before handling it.
4. Keep a safe distance from any display, yours or a professional one, just in case something goes wrong.
5. Do not pick up any debris with your hands before it has cooled or been doused in water
*For more safety tips, visit the National Council on Fireworks Safety’s website here.
We hope you and your family have a safe and fun 4th of july.
For info about each cities fireworks laws read more on wtkr.com