Seizing the opportunity in LatAm: digitisation and skills key to unlocking the potential

COVID-19 has ravaged much of South and Central America, but it is just the latest in a long line of setbacks the region has suffered over recent decades. But there are still opportunities if re/insurers take steps to realise them.

Latin America has seen its fair share of trouble in recent years. The early 1980s debt crisis in the region came to be known as the lost decade. Some say that the stagnation of the 10 years following 2010 was the second. Now, with the pandemic hitting some of its biggest economies hardest, in human and economic terms, there are fears it could be at the start of a third crisis.

To discuss whether the region is still a land of opportunity, Intelligent Insurer’s Re/insurance Lounge, the online, on-demand platform for interviews and panel discussions, brought together a range of experts:

• Florian Kummer, managing director for Latin American Markets at reinsurer Deutsche Rück since last year and former head of Swiss Re’s reinsurance P&C Underwriting Hub for Latin America
• Martin Smith, head of Latin America for insurance industry consultant Pro Global; and
• Andrea Baer, senior vice president and head of innovative risk solutions for Latin America for Swiss Re Corporate Solutions.

Together they explored the prospects for the region and how the industry could capitalise on the opportunities, as well as mitigating the risks.