The heightened demand for agile scaling across enterprises in contemporary times is underscored by several key factors, including the rapid pace of product changes within organizations, evolving customer expectations and market dynamics, the imperative of digital transformation and innovation, the risks associated with falling behind in competition, the inherent advantages of adopting agile methodologies, and the pressing need to adapt or face the consequences of obsolescence.
A catastrophe hazard is a severe and widespread event that causes significant damage and financial loss. These events are frequently natural disasters or large-scale human-made incidents that affect expansive and contemporary claims. Catastrophe hazards pose substantial trouble to insurers, as they can lead to a high volume of claims within a short period, potentially impacting insurance companies’ financial stability.