Technology will transform reinsurers’ efficiencies
Saturday, 04 21 2018, Category: Technology, Country: World
In the company’s Annual Report, reinsurer RenaissanceRe’s (RenRe) President and Chief Executive Officer (CEO), Kevin J. O’Donnell, has maintained that technologies like artificial intelligence (AI) and big data are key to transforming efficiencies, and will not diminish the value of reinsurers.
O’Donnell stressed that RenRe continues to maximise shareholder value by utilising innovative technology, just as it did in 1993 when it entered the property catastrophe market by harnessing new computational power to generate better stochastic simulations and risk models.
The CEO commented: “While I believe that technology will continue to make us better at what we do, just as it did 25 years ago, I do not believe it will replace what we do nor diminish the importance of our value proposition.”