Re/insurance executives need to embrace change at a micro level

21-03-2017

Re/insurance executives need to embrace change at a micro level

Richard Clark, Xuber

Even when wider market forces clearly drive a need for change and innovation, it becomes possible only when companies are able to embrace and nurture these things at a micro level argues Richard Clark, business development director at Xuber, a part of CSC, as he tells Intelligent Insurer about the drivers of change for re/insurers at a micro level.

There has been a growing understanding in the risk transfer industry in recent years that change is needed. A number of macro forces including a shrinking pool of business for some markets and a growing protection gap have coincided with an acceleration in technology innovation, with some companies launching revolutionary business models.

Yet even as the necessity for change and the clamour to adapt grow, this is not always an easy evolution for large companies with long traditions which may not yet be confronted by the consequences of the failure to adapt.

Richard Clark, business development director at Xuber, says that as the macro drivers of change grow, it is adjustments made at a micro level that will ultimately make the difference to individual companies.


Intelligent Insurer