Insurtech, Insurance Technology in reinsurance and insurance-linked securities (ILS)

Insurance technology, now known more widely as Insurtech, has the potential to bring significant efficiency & disruption to reinsurance, ILS & risk transfer markets.

Insurtech a hot trend with everyone from traditional reinsurance incumbents, as they seek to improve efficiency and stay ahead of the game, to brokers who are seeking to avoid disintermediation, to insurance-linked securities (ILS) players who see it as a way to enhance the efficiency of their capital even further.

The potential for Insurtech and Fintech initiatives to bring efficient capital, such as ILS capital and alternative reinsurance capital from third-party investors, more directly into contact with risk is huge. The opportunities to use technology to shorten and optimise the chain from original risk, to insurance, to reinsurance, to retrocession (or final capital source), will create winners and losers in the market, making this a trend to watch closely.

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Lloyd’s Performance Management Director Jon Hancock to depart

Jon Hancock, the Lloyd's of London insurance and reinsurance market's Performance Management Director is to step down in 2020 with no replacement for his position currently named.His role will be a tough one to fill in the market, given the wide-ranging expertise required to deliver on performance in a market read the full article →

Tremor, on making reinsurance placements more effective & efficient

Tremor Technologies Inc., the programmatic insurance and reinsurance risk transfer marketplace provider, believes that through the use of technology such as its own the reinsurance placement process can be made much faster and more accurate, with better outcomes possible for both sides of the deal.Tremor had a busy 2019, with read the full article →

Wind power indices for risk transfer added to weatherXchange

Indices designed to facilitate the trading of weather risks related to wind power have now been added to weatherXchange, the parametric weather risk transfer platform operated by specialist Speedwell Weather.weatherXchange makes it easier for companies to access index-based weather risk protection, listing a range of weather risk transfer products that read the full article →

Price inflation “present & substantial” in reinsurance placements: Tremor

Price inflation is both present and substantial in reinsurance program placements, as the traditional process of a brokered execution can result in misaligned market incentives, according to programmatic insurance and reinsurance risk transfer marketplace insurtech Tremor Technologies Inc.Using aggregate data sources from its auctions Tremor continues to try to educate read the full article →

QOMPLX & Chaucer launch multi-peril parametric insurance for SME’s

The use-cases for parametric triggers in insurance and reinsurance continue to expand, as parametric coverage gains in popularity and technology and data advances make more complex products possible, as evidenced by a recent launch from QOMPLX and Chaucer.QOMPLX is a provider of intelligent decision platforms and also operates a managing read the full article →

Tremor brings $600m of capacity to place Berkley property cat renewal

Tremor Technologies Inc., the programmatic insurance and reinsurance risk transfer marketplace provider, has successfully brought $600 million of capacity to, priced and placed the property catastrophe reinsurance program renewal of carrier W. R. Berkley Corporation.W. R. Berkley first used Tremor for its 2019 property catastrophe reinsurance program placement, later taking read the full article →

How much does it cost to secure a future for Lloyd’s? £300m+ it seems

How much does it cost to strategise, design and implement a healthy and sustainable future for the Lloyd's of London insurance and reinsurance market? UK £300 million, at least, it seems.Lloyd's has announced that it has secured £300 million of debt to cover the near and medium-term cash requirements of read the full article →

Key considerations for Lloyd’s on third-party capital initiatives: A.M. Best

As Lloyd's of London seeks to develop initiatives to attract more third-party, ILS and alternative reinsurance capital to it, rating agency A.M. Best warns of a number of considerations it feels are key for the market to consider.Lloyd's recognises that if it doesn't modernise and adapt to the changing insurance read the full article →

FEMA urged to use parametric triggers & ILS to drive insurance penetration

The U.S. Federal Emergency Management Agency (FEMA) is being urged to explore the use of parametric triggers as well as insurance-linked securities (ILS) to help drive increased insurance penetration for flood and other natural hazards and enable better financed disaster recovery.With a goal of increasing financial preparedness among both householders read the full article →

Significant opportunities for parametric growth, say Descartes execs

Recent developments in the re/insurance and ILS markets have resulted in a significant expansion of parametric solutions, and executives at Descartes Underwriting believe many opportunities for further growth are now available to companies offering these kinds of products.Tanguy Touffut, CEO & Founder at Descartes Underwriting, and Edern Le Roux, Head read the full article →