FEATURED ILS & Capital Markets REINSURANCE/ILS WRIN.tv Newswire Robust Reinsurance Market Not Without its Challenges – RAA CEO. “The reinsurance market continues to be robust” according to Frank Nutter, CEO of the Reinsurance Association of America (RAA). Brokers report that capital in the market has increased, and it was a relatively “low catastrophe” year. Among the concerns and challenges facing reinsurers, cyber exposure, the reauthorization of the Terrorism Risk Insurance Act (TRIA), and the retrocessional market. The industry … Read More
Data/Tech/Modeling FEATURED Recent Stories REINSURANCE/ILS WRIN.tv Newswire Customer Experience…a Modern Differentiator for Insurers – BMS Re CEO Companies are challenged to find opportunities for growth in a competitive landscape. According to BMS Re U.S. CEO Steve Korducki, the differentiator lies in technology and customer service. Mr. Korducki sees growth for insurers in cyber coverage and insurtech, particularly when organizations utilize tech-focused risk mitigation technology. Changing consumer demographics and market shifts, combined with technology advancements, mean a change … Read More
Education/Certification EMERGING TRENDS FEATURED Homeowner/Renter/Auto INDUSTRY NEWS P&C Recent Stories Workers Comp WRIN.tv Newswire GDP, Cyber, Flood, Technology, Talent and more on III radar heading to 2019 The uptick in GDP has had a positive impact on the insurance industry, according to Laura Favinger, Chief Administrative Officer for the Insurance Information Institute (III). In the first half of 2018, insurance carriers nearly doubled their net income over the same period in 2017. The III sees exposures broadening a bit due to business development, consumer consumption and construction, … Read More
Brokers/Consultants FEATURED Markets Recent Stories REINSURANCE/ILS WRIN.tv Newswire Growth, expenses, capital & technology affecting cedents – TigerRisk partner The biggest issues facing reinsurance buyers today are growth, expense management and capital efficiency, according to Mike Schnur, a Partner at TigerRisk. Carriers are focused on growing profitably through new product lines, new teams, as well as mergers and acquisitions (M&A). Carriers feel that there are costs that can be reduced to reduce expense ratios. More and more carriers are … Read More
Agents/Brokers/Consultants Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS Reinsurance Markets WRIN.tv Newswire Fragmentation of business model forcing insurers to be flexible…pivot quickly. Fragmentation is a major issue within the insurance industry today, according to Phil Reynolds, CEO & Co-Founder of BriteCore. Traditionally carriers sold products through agents, and were backed by reinsurers. Now, insurtechs are challenging traditional distribution and underwriting models, while reinsurers are going directly to the market through MGAs (Managing General Agents). There is a lot of flux. As a … Read More
FEATURED ILS & Capital Markets Markets Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire RAA’s Nutter discusses “blended model” and “new normal” in reinsurance sector. Reinsurance Association of America (RAA) president Frank Nutter comments on the evolution of the “blended model” in reinsurance with alternative capital contributing to the way reinsurance provides capacity to insurance companies, not just in the catastrophe area. He sees reinsurance companies diversifying into the insurance business, viewing capital markets as “largely competitive…and complementary.” Mr. Nutter admits that reinsurers have struggled … Read More
Claims Management Data/Tech/Modeling INDUSTRY NEWS Reinsurance Markets WRIN.tv Newswire Industry learning as it copes with $100B in losses from 2017 hurricanes – RMS. The 2017 Hurricane Season brought over $100 billion in insured losses. According to John Kapitan, an SVP at RMS, “the (insurance) industry has coped well.” There are numerous improvements in the industry since the storms of 2004/2005. The industry is better capitalized, (over $600 billion). From a risk management perspective, Mr. Kapitan says few insurers or reinsurers were surprised by … Read More
Data/Tech/Modeling INDUSTRY NEWS WRIN.tv Newswire “Digitization” compelling carriers to rethink investment in Technology – ACORD CEO. In part one of a two-part Tech Trends in Insurance report, WRIN.tv speaks with Bill Pieroni, President & CEO of ACORD, about the disruptive effect data and technology has had on the insurance industry. He notes that more recently, there are a number of issues that are increasing the importance of technology and data usage today. Mr. Pieroni says forces … Read More
WRIN.tv Newswire InsurTech’s Challenge To The Insurance Industry Could Open Long-Term Opportunities – S&P Global We have observed emerging InsurTech trends in a broad variety of product offerings, which could complement or change the insurance business model. In our view, InsurTech has not developed as far as the banking sector equivalent, FinTech, which is already taking some bank market share. As insurance is highly regulated and capital-intensive, with high barriers to entry, we regard InsurTech … Read More
Brokers/Consultants EMERGING TRENDS ILS & Capital Markets Reinsurance Markets REINSURANCE/ILS (Re)insurers seeking growth are running to emerging risks…rather than away – Aon Benfield’s Head of Strategy With losses from Hurricane Mathew and other catastrophe losses, 2016 has seen the highest loss activity in three years. Even so, according to Andrew Marcell, Global Head of Strategy at Aon Benfield, the impact on rates in property reinsurance will be fairly minimal. There are numerous emerging risks from new technologies and the sharing economy. For instance, Aon reports a … Read More
Corporate Risk Management/ERM Reinsurance Markets BI is back! Editor Souter reports “good news” for RMs at PCI…and dawn of new day at industry pub. Business Insurance (BI) relaunched its trusted industry magazine this month. BI Editor Gavin Souter joined WRIN.tv at the PCI Annual Meeting in Dallas to report on the “good news” he heard for risk managers at the conference, and to share insights into the changes and editorial focus at the “re-new BI.” Mr. Souter says that news from PCI will be … Read More
Data/Tech/Modeling Markets Reinsurance Markets REINSURANCE/ILS Swiss Re exec on Mutual market share, disruptive technologies, nat cat market and growth Keith Wolfe, President US P&C at Swiss Re, provides an overview of a recent Sigma Report on the Mutual sector, the impact of disruptive technologies, the nat cat market and growth. Commenting on Swiss Re’s Sigma Report, Mr. Wolfe that says the Mutual Insurance sector is stronger than ever, with an increase in market share since the 2008 financial crisis. Mr. Wolfe sees technology and … Read More
Reinsurance Markets REINSURANCE/ILS Reinsurer profits could see squeeze if normal Cats return A new report from S&P Global says the strong capital position in the reinsurance sector makes it more resilient to extreme events. Meanwhile, demand for cover against high-probability exposure has fallen and most reinsurers have taken defensive actions, retroceding more high-frequency risk. As earnings deteriorate, however, some reinsurers’ exposure to one-in-10 year events has increased. Due to increased Cat exposures, S&P … Read More
Life Insurance Markets Recent Stories Reinsurance Markets Insurance industry M&A activity continues to increase, across sectors, according to A.M. Best Mergers and Acquisition activity shows no signs of slowing down. Here Assistant Vice President William Pargeans and Vice President Robert DeRose discuss the motivations of insurers, across sectors, to seek out mergers and acquisitions. According to Mr. Pargeans the life insurance industry is very mature and the only way for insurers to grow in this sector is to buy blocks … Read More
Agents/Brokers/Consultants EMERGING TRENDS P&C Insurers asked to help assess, mitigate and transfer cyber risk Dr. Robert Hartwig, President of the insurance Information Institute (III), sees cyber insurance as a bog opportunity for insurers. Ina recent III poll of senior executives in the insurance industry, 80% view cyber as a major growth opportunity for property-casualty insurers and reinsurers Dr. Hartwig mentions that number of insurers have rolled out policies in the U.S. and other countries. … Read More
INDUSTRY NEWS Life Insurance Markets Recent Stories Reinsurance Markets Interest rate sensitive insurers and reinsurers face many hurdles to profitability, according to S&P Patricia Kwan, a Director at S&P Insurance Ratings, joins WRIN.tv to discuss the hurdles to revenue and profitability growth insurers face, outlined in a recent report by S&P entitled “Pursuing Global Insurance Profitability Amid Tempered Economic Growth.” According to Ms. Kwan, the most common headwinds impacting insurers’ quest for profitability are “interest rates, excess supply of capital, and tighter capital … Read More