Sompo is happy to boast of its $5 billion M&A war chest—yet it has struggled to put it to good use. Now, the Japanese insurer has new ideas for the ‘flexible’ deployment of the cash stash, Sompo’s Nigel Frudd explains.
Every re/insurer understands that technology has the potential to transform their business and that insurtechs can help craft this strategy. But large incumbents must be clear on their strategy, or risk crushing their insurtech partners, says an Intelligent Insurer panel.
While many insurtechs have the power to disrupt the industry and change the insurance proposition, the space is still very much in its infancy. But that is soon to change, an Intelligent Insurer panel found.
The pandemic has changed the game for insurers, increasing the pressure on insurers to offer customers truly seamless experiences when it comes to policy purchase and servicing. Claims is at the forefront of this change, says Jeff Saye of Genpact.
There has been increasing litigation in the D&O market and the exit of some big players, leading to a hardening of rates. Gallagher managing director David Ritchie spoke to Intelligent Insurer about how pessimism in this space may be too soon.
A year ago, a unique cat bond that melded volcano risk and humanitarian relief was a headline-grabbing unique deal. David Howden, one of its architects, claims as many as 30 more deals are in a very robust pipeline.
More than ever, the industry needs to understand the limitations of cat models and prepare for the unexpected, Anna Neely, head of cat response and R&D lead at TigerRisk Partners, tells Intelligent Insurer.
Heavy cat losses and secondary perils ensured rising rates were a given for the 1/1 renewals, but it was the battle between uncertainty and capacity that determined exactly where they landed. Intelligent Insurer reports.
Rates moved in the right direction at the 1/1 renewals for reinsurers, but not far enough to compensate reinsurers for uncertainties over climate change, secondary perils and claims inflation. There were frustrations on all sides, but if they didn’t get all they wanted, many got what they needed – at least for now.
While perhaps the most fraught negotiations were over property cat during the 1/1 renewals in Europe, casualty and specialty lines also had their areas of contention. As with property, the outcomes for insurers varied widely, said an Intelligent Insurer panel.