Hurdles facing the reinsurance industry
Reinsurance has been around for hundreds of years, but the industry currently faces challenges that will require fortitude, organization, and innovation to surmount. From an influx of capital and competition from alternative lenders to regulatory requirements and technological hurdles, the time has never been more ripe for reinsurers to take a close look at their underwriting processes. In the past, “collaboration” may have been a simple buzz word, but now this concept may be central in determining which reinsurers struggle and which weather the storm.
For expert insights, we spoke to Matt Edwards, National Insurance Practice Lead at Slalom; Tom Terry, Managing Director at Slalom; and Stephen Lord, Global CTO and Reinsurance CIO at AXIS Capital, which provides specialty insurance and treaty reinsurance on a global basis.