Reinsurance 2020: Breaking the mould

Many reinsurers are focusing on the short term challenges of soft rates and low investment returns. But with limited growth in traditional markets and a range of disruptive new threats on the horizon, could this be time for a more radical rethink of how to build for the future?

This paper attempts to look beyond the immediate focus on renewal rates and investment returns onto a series of game-changing developments in areas ranging from the shifts in global investment and growth to greater retention, capital market convergence, more exacting customer expectations, growth in computing power and availability of data and greater government intervention.

The lines between insurance and reinsurance are also blurring. The attributes for success and even what we understand by ‘reinsurance’ could be transformed as a result.

In this paper, we advise reinsurers to stay close to clients' needs in order to have the greatest chance of securing and retaining business. As customer expectations and sources of capacity continue to evolve, the market is going to demand more specialised, creative and finely targetted solutions from their reinsurer, and companies will need to focus on risk insight and innovation to break away from competitors. Reinsurers must compete on more than just price now, capitalising on internal expertise to get closer to clients and understand their needs.

Contact us

Charles Garnsworthy
Global leader, Actuarial services
Tel: +44 (0) 20 7804 4147
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Arthur Wightman
Territory Leader and Insurance Leader
PwC (Bermuda)
Tel: +1 (441) 299 7127
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Jonathan Howe
Global InsurTech Leader
Tel: +44 (0) 20 7212 5507
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