These are the top 10 reinsurance companies in the world

The world’s top 10 reinsurance companies accounted for just over two-thirds of gross written premium in the global non-life reinsurance market in 2018, according to global credit rating agency AM Best.Munich Reinsurance Company narrowly beat Swiss Re Ltd. to the top spot for gross premium written in 2018. AM Best director, Raymond Thomson, described the close rivalry between the two European firms as “a horse race for the top spot” in which their standing “could flip-flop at any time.

Spotlight

iPMI Magazine

Due to the nomadic nature of the international private medical insurance (IPMI) industry, iPMI Magazine is an internet-based news service for worldwide insurance and assistance professionals who need to understand the impacts of insurance and healthcare policy, regulatory, and legislative developments. Over 40,000 senior level business decision makers, in over 120 countries, rely on iPMI Magazine to stay 1 step ahead of the risk and on the inside track of international PMI. Covering business travellers, high net worth individuals, expatriate and leisure travel markets, iPMI Magazine is the only international news source covering the most exciting sector of international health insurance: international private medical insurance.

OTHER ARTICLES
Insurance Technology

How technology will transform life insurance

Article | July 20, 2022

Do you know what the UK insurance industry is going through? A disruption that calls for complete metamorphosis. Not so different from what the whole world is going through at the moment. Crafting one-size-fits-all products and expecting them to sell like hotcakes is a huge misconception. Customers want products to be as personalised as possible. Pay per mile insurance or lower car insurance premiums for safe drivers are some examples. In the current global crisis, personalised life insurance would look like factoring in the unique health/ living conditions of the person and then providing insurance options.

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Automobile Insurance, Insurance Technology

Making the digital leap in underwriting

Article | December 19, 2022

Underwriting has historically been one of the most data-intensive areas of insurance. But when it comes to looking at investments and results, data and information handling for underwriting at most carriers is still disjointed and disconnected. This is underwriting’s version of the digital divide we’ve been discussing in this series, and it leads to inefficiencies and ineffective underwriting. The divide exists because today’s underwriting platforms have not evolved to meet the needs of a modern digital carrier. To see why, let’s take a quick look at the history of these platforms. The first generation of underwriting platforms was built to provide rating systems and core policy management needed to price and administer the underwriting of policies. The technology they run on has changed from mainframe to servers to the cloud, but the platforms themselves remain focused on managing the least information necessary to price and maintain the policy.

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Insurance Technology

The Age of Sustainable Fixed-Income Investing Has Arrived

Article | July 19, 2022

Environmental, social, and governance (ESG) considerations have increasingly entered the mainstream of investment discussions, both through routine incorporation into traditional investment processes and through distinct sustainable or impact investing styles. Recent and current global conditions, such as extreme weather events, the inequitable effects of the COVID-19 pandemic, rising distrust of government institutions, and geopolitical challenges to a rules-based world order, have accelerated this trend, emphasizing the direct relevance of ESG and sustainability to understanding long-term market risks and opportunities. Until recently, equity investors were more concerned with ESG and sustainability than their fixed-income counterparts. That is, however, beginning to change, and at a rapid pace. ESG and sustainability have gained significant traction among bond investors, particularly since the implementation of COVID-19, and are now widely regarded as essential components of fixed income investing. For example, global sustainable debt issuance reached a new high of over US$1.6 trillion in 2021 and is expected to rise further in the coming years. Notably, we believe that ESG integration and sustainable fixed-income investing require a very deliberate, thoughtful approach — one that varies significantly from one fixed-income sector to the next. ESG and sustainability: At a high level, researchers believe that increased awareness of ESG and sustainability benefits global markets in two ways: 1. ESG integration allows market participants to think more holistically about the types of financially material risks and opportunities — such as physical, reputational, and (geo)political — that should ideally be reflected in asset valuations and taken into account during the routine portfolio construction and management process. 2. Furthermore, the conversation about sustainable investing is encouraging more market participants to look beyond narrow, issuer-specific investment thesis to consider how market participants' behaviors affect the broader systems and structures (e.g., climate stability, institutional strength) whose long-term viability is critical for the long-term health of economies and markets. We, like many others, believe that a stable global climate, clean air and water for all, adherence to the rule of law, strong institutions with broad public legitimacy, and broad-based access to economic opportunity are valuable public goods from which market participants would benefit collectively over time. As a result, a central goal of sustainable investing is to assist markets in evolving toward rewarding participants for exercising responsible stewardship of these public goods, which are critical to pursuing favorable long-term outcomes for the real people who are the ultimate beneficiaries of markets. This framing of sustainability highlights why fixed income is so important in moving global markets and economies in a more sustainable direction.

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Insurance Technology

Insurers Are Preparing to Accelerate Growth in 2022

Article | July 7, 2022

Despite ongoing concerns about COVID-19 variants, most insurers anticipate a faster economic recovery and increased investments in digital technology in 2022. One-third of those polled expect revenues to be "significantly higher" next year. The global demand for insurance is expected to rise further. Insurers face a variety of challenges, including economic hurdles such as the possibility of sustained inflation; sustainability concerns such as climate risk, diversity, and financial inclusion; and rapidly changing consumer product and purchase preferences. Attracting (and Retaining) Talent Will Be Critical in a Hybrid Work Environment Future of work considerations have also grown in importance as carriers strive to develop flexible return-to-office strategies while also struggling to retain and recruit high-level talent in a highly competitive job market, particularly for those with advanced technology and data analytics skills. Insurers Must Find a Way to Balance Technological Adoption with the Preservation of the Human Touch Insurers are becoming more reliant on emerging technologies and data sources to increase efficiency, improve cybersecurity, and expand capabilities across the organization. Most, however, should focus on improving the customer experience by streamlining processes with automation and providing customized service where needed and preferred. Opportunities to Increase Stakeholder Trust Have Arisen as a Result of the Pandemic On a more fundamental level, many carriers should consider taking steps to increase stakeholder trust in order to increase retention and profitability. This could be accomplished in part by increasing transparency in how insurers collect and use personal data. They can also become more proactive in seeking comprehensive solutions to large-scale societal issues, such as reducing the financial impact of future pandemics and closing coverage gaps for natural disasters.

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Spotlight

iPMI Magazine

Due to the nomadic nature of the international private medical insurance (IPMI) industry, iPMI Magazine is an internet-based news service for worldwide insurance and assistance professionals who need to understand the impacts of insurance and healthcare policy, regulatory, and legislative developments. Over 40,000 senior level business decision makers, in over 120 countries, rely on iPMI Magazine to stay 1 step ahead of the risk and on the inside track of international PMI. Covering business travellers, high net worth individuals, expatriate and leisure travel markets, iPMI Magazine is the only international news source covering the most exciting sector of international health insurance: international private medical insurance.

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BIGTINCAN EXPANDS TECH MARKET PRESENCES WITH ACQUISITION OF VEELO INC.

Bigtincan | July 25, 2019

Bigtincan (ASX:BTH), the leader in mobile, AI-powered sales enablement automation, today announced the acquisition of Veelo Inc., a pioneer in sales enablement, to expand Bigtincan’s presence and offerings in the technology market vertical. The combination of Bigtincan’s solution, designed with the mobile-first user in mind, and Veelo’s focus on traditional sales enablement with key enhancements for desktop and web solutions, will augment and compliment the different ways sales teams work, no matter which platform they choose. Veelo’s award-winning sales enablement platform increases sales performance by predicatively guiding sellers on what to know, say and do. Designed with brain science principles in mind, the Veelo Vault ready-made sales enablement templates showcase the most relevant resources available to each sales person. Veelo’s intelligent search also provides instant access for teams to quickly find relevant images, videos, blog posts and documents. Bigtincan will integrate the Veelo Sales Enablement Platform with the Bigtincan platform to provide additional capabilities to sales teams, including the creation of a single pane of reference for users to manage content and training materials, and automatically deliver them to user devices.

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BIGTINCAN RECOGNIZED BY KEY INDUSTRY ORGANIZATIONS AS LEADER IN SALES ENABLEMENT

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Bigtincan (ASX:BTH), the leader in mobile, AI-powered sales enablement automation, was presented with the MarTech Breakthrough Award for “Best Sales Enablement Software for SMBs” for the second year in a row. Additionally Bigtincan was recently named a “Sales Automation Solution” Gold Winner, “Cloud Computing/SaaS Product or Service for Sales” Bronze Winner and “Best New Product or Service for Sales” Gold Winner by the Customer Sales and Service World Awards. This follows a recognition from Selling Power as a Top 10 AI Solutions for Sales in 2019. Bigtincan was also recently shortlisted for Best Application of AI for Sales and Marketing for the AIconics Awards. The MarTech Breakthrough Awards, Customer Sales and Service World Awards, Selling Power Top 10 Solutions list and AIconics Awards all recognize achievements in key areas of sales enablement – martech, customer service and sales – and acknowledge organizations who set industry benchmarks for excellence by addressing some of the biggest challenges sales teams and marketers face. Bigtincan continues to enhance its advanced, AI-powered platform with AR and VR pitch building offerings and new voice assistant capabilities through the Bigtincan Genie to answer questions on-the-go. Furthermore, these new capabilities allow sales teams to customize and combine documents to build decks that can easily be presented via iPad or shared with others, as well as presented with AR, VR and enhanced multi-media content.

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Bigtincan | August 27, 2019

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Bigtincan | July 25, 2019

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BIGTINCAN NAMED IN GARTNER’S MARKET GUIDE FOR SALES ENGAGEMENT PLATFORMS, MEETING ALL IDENTIFIED CAPABILITIES

Bigtincan | August 27, 2019

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