There is currently a rise in the number of commercial lines transformation projects, Tammy Richardson, managing director, UK & Ireland, insurance consulting and technology, Willis Towers Watson, told Monte Carlo Today.
Insurers need to brace themselves for some substantial changes to the world of risk over the next decade, according to Andy Moore, global insurance risk and regulatory leader at PwC UK.
Captives have until now primarily operated using traditional technology, but the use of distributed ledger technology, or blockchain, has the potential to revolutionise the sector, David Edwards of ChainThat told Monte Carlo Today.
Insurtech UK, an alliance of insurtech startups joined by associate members of the insurance industry and service partners, has added broker Aon and Munich Re firm Digital Partners as associate members.
Bermuda-based Aspen Insurance Holdings has appointed Mary Kotch as its chief information officer (CIO) with immediate effect. She will also join the Aspen Group executive committee.
Anja Biendarra, the CEO of Munich Re Bogotá, Regional Centre South America, writes for Fides Today.
As the reinsurance industry and the risks it manages become ever more complex, collaboration will be increasingly important to reinsurers’ success, Eric Schuh of Swiss Re told Monte Carlo Today.
Technology is the biggest worry for reinsurers, as the industry struggles with legacy IT systems.
Insurance is a heavily regulated market which makes it very difficult for new entrants to severely disrupt it, according to James Willison, managing director at WCL, a technology vendor providing data transfer and messaging systems.
Cyber continues to grow globally but with some stark regional differences and re/insurers are increasingly aware of silent cyber, as Luke Foord-Kelcey of Aon’s Reinsurance Solutions told Monte Carlo Today.