Soft market pressures, a prolonged low interest rate environment, low barriers to ILS capital entering the sector, the digital economy, tepid GDP growth… Hiscox Re’s Bill Lazzaro argues that how we respond to the current challenges in the reinsurance sector will define our future.
While attractive returns are still available, fundamental change in the reinsurance sector means the days of sitting back and delivering a 20 percent return on equity by optimising a finite amount of traditional capacity with vanilla products is long gone. Life as a reinsurer today is very different.
As an industry, we need to learn more from those outside our sector, do more to embrace change and focus on new innovative approaches to our business. It is exciting and humbling to have the role of chairing the Hiscox Re Product Group, a think tank of sorts at the forefront of our efforts to respond to the challenges and develop client solutions. We are constantly trying to enhance our value proposition, make the next incremental innovation or crack the next market disruption. Through varied meeting formats we are trying to stimulate creative thought, build a culture to help develop those ideas, reward proactivity and make the tools available to execute an idea.
Enter the dragons (or the sharks)
To continue reading, you need a subscription to Intelligent Insurer. Start a subscription today for £655.
In-house feature articles, the archive and expert comment require a paid subscription. Subscribe now.
Want to give it a try? We are offering a two week free trial to the Intelligent Insurer website – register and select “Two Week Free Trial” to begin access to the full Intelligent Insurer archive and read the latest news, features and expert comment. Begin your free trial here.
Is your 2 week free trial about to end? Upgrade to a 12 month subscription for £655 now.
If you have already subscribed please login.
If you have any technical issues please contact support.
Dragons’ Den, , approach, reinsurance, challenge, ILS, Hiscox Re