The use of advanced technology and data analytics can bring multiple benefits to insurance and reinsurance firms, according to Swiss Re, which we would add holds true also for insurance-linked securities (ILS) players.
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For some year’s now we’ve been saying that insurance-linked securities (ILS) capacity and alternative reinsurance capital is destined to get closer to risk, as structures and technologies advance to allow it to break free from the strictures of the traditional market chain.
Beazley continues to try and drive down the cost of re/insurance capital using its so-called ‘smart tracker’ special purpose arrangement (SPA) syndicate 5623, with digitalisation a goal to add further efficiency in the future.
Public and private market efforts and collaboration to narrow or even close the insurance protection gap need to be accelerated and uptake of risk transfer needs to be extended, according to Chairman of AXA Denis Duverne.