ILS & Insurtech bring role of broker into question
Wednesday, 11 16 2016, Category: Insurance and Reinsurance, Country: World
As the convergence space continues to evolve and traditional and alternative reinsurance capital and structures become more integrated, along with the rise of technology in the sector, market leaders have questioned what this could mean for intermediaries and their role in the value chain.
A panel of reinsurance and insurance-linked securities (ILS) industry experts speaking on a panel at the 2016 meeting of the reinsurance industry in Bermuda, sponsored by Standard & Poor’s (S&P) and PwC Bermuda, discussed the evolving role of the broker community in the convergence space.
Some industry observers and analysts have said that as much as 20% of the premium is lost in the distribution chain, explains S&P, and with reinsurers and ILS players increasingly searching for efficiency in a challenging environment, the role of intermediaries has come into focus.