Reinsurers see data analysis as core to their business and require stable and robust systems to support it: Aite-Novarica Group
Boston, MA (Feb. 17, 2022) – The reinsurance business faces multiple challenges. Years of soft market conditions followed by sudden and sharp hardening periods, tremendous losses from man-made and natural catastrophes, and open-ended liabilities (e.g., asbestos, terrorism) are putting intense pressure on reinsurers. These difficult conditions challenge reinsurers to adapt and come up with creative solutions. Reinsurers control their risk through sophisticated risk analysis, careful pricing, setting terms and conditions, and capital management—including retrocessions, whenever needed.
This Impact Report provides an overview of reinsurers’ business and technology issues, data about the marketplace, and examples of recent technology investments made by reinsurers. This report is part of a series on key business and technology trends in specific lines of business in the U.S. insurance industry, and draws from conversations with Aite-Novarica Group clients and Insurance Technology Research Council members, as well as secondary published sources.
Click here to access the report.
This 31-page Impact Report contains one figure and two tables. Clients of Aite-Novarica Group’s Life, Annuities, & Benefits or Property & Casualty service can download this report and the corresponding charts.
This report mentions Acrisure Re, Allianz Life, American Equity Investment Life Holding Co., AmTrust, Aon plc, Arrowpoint Capital Corp., Arthur J. Gallagher, Berkshire Hathaway, BMS Re, Brookfield Re, CATEX Global Exchange, Corporate Solutions Life Reinsurance Company, Covea, CyberCube, Dorinco Reinsurance Company, Ebix, Equitable Holdings Inc., eReinsure, Everest Re, EXOR NV, Granular Insurance, Hannover Re, HDI Global SE, HDI Global Specialty SE, Kovrr, Lockton Re, Loop, Markel Corporation, Microsoft, Mouro Capital, MS&AD Ventures, Munich Re, Munich Re Markets, Mutual of Omaha, Neptune Flood, Odyssey Reinsurance Group, Pallas Reinsurance Co. Ltd., PartnerRe, Phinsys, Pillar Capital Management Limited, Policy Claim Management International Corporation, Praedicat, Relay, RenaissanceRe, Resolution Life, RGAX, Root, Sapiens, SCOR, SiriusPoint Ltd., Sixth Street, Swiss Re, Swiss Re Corporate Solutions, Talcott Resolution Life Insurance Company, TCS, Third Point Re, Toa Reinsurance Company, Tremor Technologies Inc., Venerable Holdings Inc., Vesttoo, Willis Re, Wilton Re U.S. Group, and W.R. Berkley.
About Aite-Novarica Group
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. For more information, visit aite-novarica.com.
Source: Aite-Novarica GroupTags: Aite-Novarica Group, priorities, trends