OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, on location from Les Rendez-Vous de Septembre (Rendez-Vous) reinsurance conference in Monte Carlo, Monaco, (re)insurers say their challenge is to convince insurers and the public that their products and services are affordable, valued and effective in guarding against a growing range of global risks. Click on http://www.ambest.com/v.asp?v=rvs1916nc to view the entire program.
The hot topic at this year’s conference, how does the reinsurance industry remain relevant.
“Actually in one sense, reinsurers are more relevant than they have ever been,” said David Flandro, global head of strategic advisory, JLT Re. “This is because the product that they sell is more effective and more economical than it has ever been. What reinsuers need to do to remain relevant is to tell insurers how relevant they are, that they’re selling the cheapest form of contingent capital around.”
“Knowledge is a very important part of what the industry has to do to remain relevant, whether it be basic technical knowledge or training and information (that allows) people coming into the industry to continue to develop and succeed,” explained Bob Jones, president and chief marketing officer, direct property/casualty operations, General Reinsurance AG. “What we need to do is continue to bring people in, but we also need to develop those people and develop the knowledge.”
Other people that appeared in this episode:
- Robert DeRose, vice president, A.M. Best;
- John Cavanagh; chief executive officer, Willis Re;
- Franz Hahn; chief executive officer, Peak Reinsurance Company Limited;
- Anthony Kuczinski; president and chief executive officer, Munich Reinsurance America, Inc.; and
- Hugo Crawley, partner, TigerRisk Partners LLC.
A.M.BestTV will be covering the entire 2016 Rendez-Vous. Visit http://www.ambest.tv/rvs16 for full coverage and exclusive interviews with key reinsurance executives.
Recent episodes of A.M.BestTV include:
- Global Reinsurers Focus on Innovation to Maintain Relevance: A.M. Best Vice President Robert DeRose and Assistant Vice President Greg Reisner address the state of the global reinsurance market: http://www.ambest.com/v.asp?v=globalre916.
- Aon's Gray: Captive Sponsors Find Ways to Lower Cost of Risk: Nancy Gray, regional managing director, Americas, Aon Global Insurance Managers, said captive owners are resetting limits and deductibles while taking on new coverages, all with a goal of decreasing overall cost of risk: http://www.ambest.com/v.asp?v=gray816nc.
- London Market Insurers Could Face Rocky Road Ahead: Catherine Thomas, senior director of analytics, A.M. Best, said London-based insurers with a global focus face a host of developing challenges, including the likelihood that catastrophe activity will return to normal levels, there will be increased competition in local markets as well as from new risk facilities set up by global brokers: http://www.ambest.com/v.asp?v=londonmarket916.
- Good Risk Management Starts With Quality Data: David Wright, managing director, Beach Re, a reinsurance intermediary, said focusing on acquiring and using reliable data is more important than focusing on the next emerging risks: http://www.ambest.com/v.asp?v=wright516.
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
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