Analytics reshaped the reinsurance value chain
Saturday, 10 10 2015, Category: Insurance and Reinsurance, Country: World
The evolution of the insurance and reinsurance industry landscape and the rise of plentiful, meaningful data has adjusted the role of the reinsurance broker, with further change set for the future, according to Willis Re.
“The days of placing slips under one’s arm in the market is finished. There is still an element of that as we all know but the game has changed quite dramatically and our role is much broader than it’s ever been,” said President of Willis Re North America, James Kent.
As a global reinsurance broker Willis Re sees itself as a firm that connects wholesale risk with wholesale capital, and historically this has occurred in the form of reinsurance, explains Kent.