Buyers are king during the renewals season—and especially at the Monte Carlo Rendez-Vous. Intelligent Insurer speaks to two of the biggest about their evolving programmes and expectations in a landscape that is changing.
Spare a thought for the buyers at this time of year. Yes, it is a busy schedule for reinsurers and brokers as the increasingly frantic rush to renegotiate annual year-end programmes gets underway, but it is the buyers who are under the real pressure.
As the clients in the renewals merry-go-round, they must manage the barrage of requests for meetings and pitches at this time of year while trying to sensibly pull together the best possible structure for their particular needs using the ever-increasing array of risk management tools and partners available to them.
In the old days, life was simple. Decisions were made based on relationships, hunches and who picked up the dinner tab. Price and terms and conditions also played a big part in decision-making but there was little else to choose between many of the carriers and what they were offering.
Zurich Insurance Group, Juan Beer, Insurance, Reinsurance, Risk management, Europe