PRINCETON, N.J.--(BUSINESS WIRE)--Munich Reinsurance America, Inc. (Munich Re, US) has created a key strategic position in its Reinsurance Division to help clients seize opportunities resulting from the rapidly developing field of InsurTech. Robert Mozeika will assume the new role as Innovation Executive.
“Munich Re continues to quickly develop its position as a global innovation leader in the insurance industry, and is at the forefront of changes taking place in InsurTech, helping clients derive the most value from emerging opportunities,” said Steve Levy, President, Reinsurance Division, Munich Re, US. “Given our presence in Silicon Valley and other leading innovation hubs around the world, we’ve developed relationships with the key players and startups that are driving the InsurTech revolution. Our goal is to identify opportunities and collaborate with clients to bring to market new insurance solutions and products coming out of InsurTech.”
In his new role, Mozeika will work with Munich Re, US’s Client Management team to match reinsurance clients with new products and solutions developed in the InsurTech space that help address specific client needs. It is also anticipated that this position will present the company with various business opportunities as its clients increasingly pursue InsurTech alternatives.
“This is an integral role for the Reinsurance Division and is a natural evolution for Bob who has established a leadership position in the InsurTech space. With his knowledge of technology trends, his extensive network in this area and his consultative experience, Bob is a perfect fit to provide this valuable service to our clients,” said Levy.
Since January 2015, Mozeika has served as a Munich Re, US Innoscout, based in Silicon Valley, where he was responsible for partnering with technology companies to enhance the company’s business processes for developing new emerging products and exploring new business models. From 2008 to 2014, he was Head of Financial and Strategic Management and Underwriting Operations in the Reinsurance Division of Munich Re, US. In his new role, Mozeika will serve as a member of the Reinsurance Division Leadership Team which reports to Levy. Mozeika will be based in Princeton while maintaining strong connections to Silicon Valley.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2015, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.1bn on premium income of over €50bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2015, ERGO posted premium income of €17.9bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments (excluding insurance-related investments) amounting to €215bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.
Princeton, NJ, January 24, 2017
Munich Reinsurance America, Inc.
555 College Road East
Princeton, NJ 08543-5241