Once the COVID-19 crisis has passed, the insurers that adapt and evolve will be the ones who flourish. Sameer Dewan of Genpact gives his view of the future to Intelligent Insurer.
As the cyber insurance market matures, it will need both standardisation and innovation to sustain its growth. But even those things won’t necessarily protect the market from some difficult times as the market develops.
As the world marches towards an increasingly interconnected future, cyber will become one of the biggest risks that companies will need to manage—and insurers will need to qualify, price and underwrite. This will mean a fundamental shifting of the portfolio mix for most insurers.
Claims departments are now key to re/insurers’ offerings, and technology is a big part of that. Liberty Specialty Markets’ Irene Stavrou discusses the company’s investments and why claims are about much more than simply paying out.
While admitting to not knowing all the answers, Hiscox Re & ILS believes that cooperation and partnerships will be vital in future to meet the challenges of climate change and to identify the opportunities for new covers and capacity.
COVID-19 has exposed the harsh realities of the protection gap in Latin America and the need for ongoing support from re/insurers. With its own commitment to long-term relationships, Deutsche Rück believes it has a part to play, as Florian Kummer reveals.
While clarity is emerging around COVID-related claims for insurers, it remains unclear what claims may end up hitting reinsurers. It could simply come down to a negotiation, Wendy Kriz of Barnett Waddingham told Intelligent Insurer.
While reinsurer ratings are unlikely to be affected by claims stemming from COVID-19, there are many questions that need to be answered as to who will ultimately pay, Robert Mazzuoli of Fitch Ratings told Intelligent Insurer.
A thriving run-off market for the year ahead is still getting mixed signals from developed and emerging economies, a report from GILC has revealed.
Investors have confidence in the sector but should proceed with caution, says Catherine Thomas, senior director, analytics, at AM Best.