Value chain compression is an increasingly hot topic in the reinsurance market, but larger brokers can be reluctant to make changes. That is the view of Jason Howard, chief executive officer of Beach, speaking to Monte Carlo Today.
Cyber, climate change and achieving sustainable rates will be the three main talking points at the Rendez-Vous, as innovation becomes increasingly important to the industry, as Laurent Montador of CCR told Monte Carlo Today.
RICAP Bermuda, being trialled in Bermuda, will bring risks closer to capital and make the industry more efficient and transparent. That is just the start of what could become a global revolution, as Kathleen Faries told Monte Carlo Today.
CyberCube’s Cyber Threat Outlook Survey took the pulse of cybersecurity professionals and asked for their perspectives on the frequency and economic severity of the cyber threats facing businesses, as Rebecca Bole of CyberCube told Monte Carlo Today.
The insurance industry must keep a close eye on the transformative potential of technology, according to Ian Meadows, director for insurance at EY and a director of EY’s initiative Insurwave, which offers blockchain-enabled marine insurance.
David Flandro, the well-known broker who has previously headed analytics teams at JLT Re and Guy Carpenter, told Monte Carlo Today that his new role with Hyperion X, the data and technology arm of Hyperion Insurance Group, represents his most exciting challenge yet and an opportunity to take the use of data in the insurance and reinsurance industry to another level.
Geospatial Insight has launched PropertyView, which combines artificial intelligence (AI) and scalable cloud computing to extract building information from satellite imagery
Nearly three-quarters of respondents to an online Intelligent Insurer renewals survey expect the market to harden in the coming renewals season, with 53 percent of respondents expecting it to harden a little and 19 percent expecting it to harden substantially.
As cyber risk has an increasingly pervasive influence on the insurance market, the industry needs to find a better way to cover it. The solution could be finding a way to make it tradeable, Henri Winand, chief executive officer of AkinovA, an independent electronic marketplace for the transfer and trading of insurance, reinsurance and insurance-linked securities (ILS) risks, told Monte Carlo Today.
Innovations in technology have the potential to make a big difference to re/insurers in a number of ways but Third Point Reinsurance is most interested in developments that can help it underwrite business more efficiently and with greater accuracy.