SHUTTERSTOCK / ROB BAYER
The Monte Carlo Rendez-Vous might be regarded as an unusual way for an industry to do business. But as analytics becomes more important, is the nature of the event, and the negotiations that take place there, changing? Intelligent Insurer speaks to buyers, readers and a negotiation expert.
For executives attending the Monte Carlo Rendez-Vous for the first time this year, there will be an almost inevitable shock to the system. In no other industry does this intensive frenzy of face-to-face meetings occur—especially in such an apparently random location and in such an organic, unregimented way.
Most attendees, of course, will be used to the buzz and hum of the Café de Paris and the 30-minute segments of time that suddenly dominate everyone’s lives for four days. Only at the later cocktail parties on the balconies of the principality’s majestic hotels do things really start to relax. The rest of the event is driven by time, business and money.
The key dynamic being played out, of course, is one of negotiation. Although it’s well hidden between cappuccinos, quality wine, food and even cigars, Monte Carlo represents the start of what can be a convoluted negotiation process that can often run right into the Christmas period.
Monte Carlo, re/insurance, Allianz Re, Zurich, Markus Meier,