EXCLUSIVE: Insurers should be wary of innovation: Deutsche Rück

The insurance industry should not become obsessed with developing new products driven by technology and fears of competition from new entrants, warned Arno Junke, chief executive officer of Deutsche Rück.

“The insurance industry does not need to implement every form of innovation and technology available to the business,” Junke said. The sector has to get involved with digitisation and disruptors, but it needs to be smart about it and connect its reactions with the core competencies of insurers.