Twin forces of talent and technology shaping reinsurance growth

Reinsurance leaders are entering 2026 with bold growth ambitions to expand in core lines and new markets, but also with serious strategic challenges.

Key points:
40% eye new lines, geographies
Talent shortage greatest challenge
AI and automation test resilience

More than half of respondents to Intelligent Insurer’s 2024 pre-renewals season survey saw their biggest growth opportunity in expanding share in core lines, while 40% are eyeing entry into new lines or geographies.

Yet at the same time, 59% said attracting and retaining talent was their principal challenge, and 56% felt adapting to AI and automation was a core challenge. The results highlight an industry grappling with how to balance human expertise with digital disruption.

“Growth is not the problem, execution is,” one participant wrote. “We know where we want to expand. The real question is whether we have the talent and the technology to get there.”

The survey shows a market still committed to its core, with 50% prioritising expansion in existing lines. This strategy suggests reinsurers believe discipline and scale will generate profitability, even in a flat pricing environment.

At the same time, 40% of executives are looking outward towards new lines or geographic diversification. That could mean building presence in emerging markets or tackling underpenetrated sectors such as agriculture, climate resilience or cyber.

“Clients are demanding more bespoke solutions in areas such as parametric and climate-linked products,” one broker wrote. “Entering new markets is not just about geography, it’s about finding lines where protection gaps remain wide.”

Beyond core growth, 37% cited innovation through digital or AI-driven solutions as a growth lever, and 24% pointed to accessing alternative capital markets. Structured reinsurance, parametric covers and ILS convergence continue to attract attention as ways to expand capacity and improve capital efficiency.

“Digital tools and capital market access aren’t nice-to-haves any more,” one respondent noted. “They’re central to competing on both cost and creativity.”

Nearly two-fifths of respondents highlighted improving underwriting profitability as a growth priority, showing that discipline remains at the heart of expansion plans.

One participant remarked: “You can’t grow for growth’s sake. Sustainable underwriting profitability is the only growth worth chasing.”

If growth ambitions are clear, the challenges are equally stark. Attracting and retaining talent while adapting to AI and automation underline the tension between human expertise and technological transformation.

“AI won’t replace underwriters, but underwriters who know how to use AI will replace those who don’t,” said one executive. “The talent we need is hybrid: people who can think strategically and leverage digital tools at speed,” one respondent commented.

The survey also found that 34% were concerned about managing climate risk exposure, with another 27% flagging geopolitical risks. The intersection of climate volatility, global conflicts and economic uncertainty is increasingly shaping boardroom agendas.

“Growth in new lines or regions means exposure to unfamiliar risks,” one respondent wrote. “Geopolitics and climate events can upend even the best-laid strategies.”

Finally, 37% cited maintaining underwriting discipline as a top challenge, echoing concerns that expansion into new lines or markets must not dilute standards. Meanwhile, regulatory compliance (21%) and capital constraints (13%) were seen as lower-level challenges though still part of the overall picture.

The survey paints a picture of an industry with one foot on the accelerator and the other on the brake. Growth is essential, but the means to achieve it are constrained by talent shortages, technological transformation and systemic risks.

As one respondent remarked: “2026 will be defined by a balancing act: finding the right people, harnessing the right tech and growing without losing discipline.”

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