Starting fresh: Willis Re bets on entrepreneurial, analytics-led broking in Germany

Willis Re is entering Germany with something few genuine start-ups can claim – a well-known name, deep reinsurance heritage, yet the freedom to build its operation almost from scratch.

Key points:
German build out begins
Data and analytics-led broking
Cedants rethink protection

That combination is key to the proposition Thomas Artmann, the recently appointed CEO of Willis Re Germany, wants to bring to one of Europe’s most established reinsurance markets. Experienced broking judgment will sit alongside advanced analytics, technology and a more entrepreneurial operating model, without the legacy systems and processes that can slow larger organisations.

It is also the model Willis Re has been developing since returning to the reinsurance market. Reborn as a joint venture between WTW and Bain Capital, the broker has been expanding its international platform with the infrastructure and relationships of a large group behind it. Germany is the latest important piece of that build-out.  

“We’re bringing together strong local market knowledge and international reach, while investing in analytics, client solutions and technology from the outset,” Artmann told Baden-Baden Today.

“There is a real opportunity to bring a differentiated proposition to the German market, particularly around transparency, actionable insight and a more client-focused approach.”

“Technology should not replace expertise but amplify it.”

Tech with judgment

Insurers may have access to vastly more data than in the past, but turning it into meaningful insights and better decisions remains a challenge.

“By combining specialist broking expertise with advanced analytics, market intelligence and technology, Willis Re can help clients better understand their risks and make more informed reinsurance decisions,” Artmann said.

That places the emphasis less on technology itself and more on what brokers can do with it. “Technology should not replace expertise but amplify it,” he said. 

Advanced analytics can help quantify exposures and test alternative reinsurance structures, while automation can remove more routine parts of the broking process. In theory, that leaves experienced brokers with more time to interpret the results, challenge assumptions and advise on programme design.

Willis Re is building what Artmann describes as the “connected by design” model, linking market intelligence, data, research and broking expertise rather than treating them as separate functions.

Artmann also sees an opportunity to keep decision-making closer to senior practitioners.

“There is room for a more entrepreneurial approach,” Artmann said. “By listening before advising, we can ensure our recommendations reflect each client’s priorities rather than simply repeating traditional approaches.”

That may become increasingly relevant as German cedants decide how to use a more favourable reinsurance market.

Softer conditions have shifted the conversation beyond securing lower prices. Artmann said German insurers are also reconsidering structures, retention levels, attachment points and reinstatement provisions as they look at how efficiently their reinsurance programmes use capital.

“German cedants are generally taking a more balanced approach in response to the current market conditions,” he said. “While there is clearly a focus on securing improved pricing, many insurers are also reviewing their reinsurance programmes.”

For some cedants, that may mean buying broader protection. For others, it could mean retaining more risk or redesigning layers rather than simply taking the saving.

Today’s broker

That’s also changing the role of the broker. The question is no longer only what capacity can be secured, but how a programme should change when pricing, capital and risk appetite are all moving at the same time.

“Clients want comprehensive insights, strong advocacy and the effective execution of their reinsurance strategy from today’s broker,” Artmann emphasised. “I think that we are seeing a shift towards more constructive dialogue given current market dynamics.”

He also believes brokers should press reinsurers for greater transparency around capacity deployment, accumulation management and risk selection.

“Clear communication benefits all participants,” he said, arguing that greater visibility should help insurers understand how reinsurers are approaching individual risks and portfolios.

“Striking this balance is key to achieving the best outcomes.”

The softer backdrop does not extend evenly across every line. Artmann expects property catastrophe discussions to benefit from improving conditions, while casualty remains more difficult to read.

Social inflation, judicial trends and reserve adequacy continue to create uncertainty, particularly because the effects can emerge over a much longer period than property losses.

“While we are seeing improving conditions on the property catastrophe front, casualty presents challenges that are less visible and potentially longer lasting,” he said.

Cyber will remain another area requiring close attention as exposures continue to change.

Those differences matter because they make a single description of the market as simply “soft” increasingly inadequate. German insurers may have greater negotiating leverage in some areas while still facing significant uncertainty elsewhere.

That is ultimately the market into which Artmann is building Willis Re Germany.

He brings more than three decades of industry experience, including 25 years at Munich Re, but the operation itself is being designed around a much newer model.

“We’re building the business around today’s market needs, without the constraints of legacy processes,” he said.

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