Technology Innovation Identified as Top Growth Opportunity for (Re)insurance Industry in 2017, According to Guy Carpenter Annual Market Pulse Survey: Technology innovation will provide the biggest growth opportunities for (re)insurers in the year ahead, according to a survey released by Guy Carpenter & Company. Now in its fifth year, the annual survey polled executives from insurance and reinsurance companies during the 2016 Property Casualty Insurers Association of America Annual Meeting held in Dallas, Texas. The goal of this year’s survey was to identify the top opportunities and threats to profitable growth in the year ahead, as well as examine the most significant disruptive forces impacting the industry.
Asia Pacific Catastrophe Report 2016: Executive Summary: Mergers and Acquisitions: In 2015, outbound mergers and acquisitions (M&A) abounded in the region, but a pause in transactions occurred in 2016. The flow of inbound M&A increased this year, largely caused by overseas companies making significant investments in joint ventures following recent regulatory changes in India.
Managing Catastrophe Model Uncertainty, Issues and Challenges: Here we repeat our series authored by John Major, which focuses on the issues and challenges in managing catastrophe model uncertainty.
China Risk Oriented Solvency System (C-ROSS): The China Insurance Regulatory Commission (CIRC) is instituting sweeping changes through its three-tiered China Risk Oriented Solvency System (C-ROSS) framework that will dramatically impact how (re)insurers conduct business. It will strengthen capital requirements, risk management and transparency disclosures - bringing China in line with, and in some cases overtaking, global standards. The C-ROSS framework is similar to Solvency II: three tiers focusing on quantitative, qualitative and disclosure requirements.
Analytics: Fueling Risk-Informed Decisions: Today’s rapidly changing global environment presents insurers with many challenges and opportunities as capital management and risk transfer techniques evolve at an unprecedented pace. Stakeholders, regulators and ratings agencies are deepening their focus on risk management practices, and revolutionary developments in technology, including the Internet of Things and hyper-connectivity, are driving companies to adapt to the challenges that senior management faces to support risk management decisions material to their business.
And, You May Have Missed…
Newest Versions of Patented Capital Modeling Tools Enhance Automation and Integration, Estimate Inflationary Risk, and Improve Run-Time: Guy Carpenter Introduces MetaRisk® ReserveTM 5 and MetaRisk® 9: Guy Carpenter announced the launch of MetaRisk® ReserveTM 5 and MetaRisk® 9, the latest updates to its powerful suite of capital modeling tools built on more than 25 years of research and development.