Core Insurance, Risk Management

Reinsurance management: The biggest risk in insurance?

June 14, 2023

Reinsurance management: The biggest risk in insurance?
Reinsurance is a vital function, empowering insurers to offer more coverage to more customers at a more competitive price.

But at a time when every insight, innovation and advantage is needed to help insurers take ownership of their reinsurance program, their antiquated reinsurance management systems and methods may be the biggest factor limiting their reinsurance program success and business performance.

Spotlight

McGill and Partners

Launched in 2019, McGill and Partners is a new boutique risk solutions business created by some of the most well-regarded leaders in the insurance industry. We believe that an open, aligned and progressive insurance market benefits everyone. Our role as brokers is to create specialist transactions to manage risk, while delivering economic flexibility and stability for our clients.

OTHER WHITEPAPERS
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Data culture: The insurance imperative for growth and resilience

whitePaper | March 17, 2022

The challenges facing the insurance industry have accelerated a shift in customer expectations for digital-first, streamlined and personalised relationships. This content highlights how creating a strong data culture can enable insurers to improve decision making and enhance the customer experience.

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Accelerating change in insurance distribution through technology

whitePaper | March 14, 2022

If you want to see the influence that insurtechs are having on how insurance will be sold in the future, look no further than Lloyd’s of London, which has been about as technologically behind as an institution can be. Brit Ltd. announced in May 2020 that, in collaboration with Google, it has created Ki, a new syndicate that will be part of Lloyd’s, that “will aim to significantly reduce the amount of time and effort taken for [commercial] brokers to place their [excess] capacity, creating greater efficiency, responsiveness, and competitiveness.” The Ki platform, which will launch in 2021, will be cloud-based, able to be accessed by brokers directly, and involve algorithms able to evaluate Lloyd’s policies.

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TRADE CREDIT INSURANCE UNLOCKING GROWTH

whitePaper | January 20, 2020

A lot is changing in today’s global economy. Economic growth in North America appears to be slowing; likewise, there are signs of weakness in regions across the globe. With tariff wars, Brexit and military conflicts, there is uncertainty domestically and across the globe. Making business decisions in this environment can be daunting.

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Business case for reinsurance administration automation

whitePaper | November 8, 2022

What are the risks and issues relating to reinsurance management? How do you raise management awareness and present the business case for implementing a modern digital solution for reinsurance management in your organisation?

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Ransomware: An insurance market perspective

whitePaper | July 1, 2022

As a form of cyber extortion, ransomware is malicious software that gains access to files or systems and blocks user access until the victim pays a ransom in exchange for a decryption key. It has become a serious issue as the number of attempted intrusions and successful attacks as well as the size of ransom demands have trended sharply higher in recent years. Cybercriminals are also deploying sophisticated approaches to extort their victims, including threats to release sensitive information or take down a firm’s website if the ransom is not paid. The development of the ransomware-as-a-service (RaaS) business model has supercharged this field of cybercrime and enabled threat actors, even with limited technical IT skills, to launch highly disruptive attacks.

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How to Become an Insurance Innovator with Liferay DXP

whitePaper | June 15, 2023

In 2018, a PWC industry report1 indicated that 44% of those surveyed did not believe existing insurers would survive in their current form. The industry is moving into an era called “Digital Insurance 2.0”2 and many insurers are struggling to keep up with its accelerating pace. The shift was born to support new technologies, processes and a market of predominantly Gen Z and Millennial customers. Digital Insurance 2.0 is centered on becoming more customer-centric across operations, people, technologies and processes.

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Spotlight

McGill and Partners

Launched in 2019, McGill and Partners is a new boutique risk solutions business created by some of the most well-regarded leaders in the insurance industry. We believe that an open, aligned and progressive insurance market benefits everyone. Our role as brokers is to create specialist transactions to manage risk, while delivering economic flexibility and stability for our clients.

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