Year in review: 2020 - the year of the black swan event

As re/insurance leaders look back on 2020, they share their thoughts on the unprecedented past 12 months with Intelligent Insurer and consider how this will affect the year ahead. In exclusive insights, they also reflect on the debate over whether it was a black swan event, or more of a ‘grey rhino’, recognise the critical nature of advancing technology and express a real desire to return to face-to-face negotiations, as well as setting out their stalls for 2021.

The acceptance and accelerated advance of technology has been one of the standout stories of 2020, so what do more traditional insurers and technology firms think about this unexpected positive that has come out of the pandemic. Intelligent Insurer speaks to industry leaders for their views on this and the other impacts of 2020 more generally, as well as their expectations for rates and the market in 2021.

Simon Williams, SVP & active underwriter, Syndicate 1955, Arch Insurance International

The coronavirus pandemic is one of the most significant events to impact the insurance industry - its scale and scope are unprecedented and many view this as a black swan event, says Simon Williams, SVP, chief strategy & distribution officer & active underwriter Syndicate 1955 at Arch Insurance International.