One insurance sector that’s strongly resisted digitalization until now is ceded reinsurance. But with a variety of software for reinsurance claims management increasingly available, that may be changing.
Managing catastrophe reinsurance claims is a big challenge for carriers. In particular, dealing with the “hours clause” can be baffling. But taking the best strategy can make a big difference in how much reinsurance you’ll collect.
In regards to reinsurance Solvency II of particular interest to cedents and should provide insurance companies with improved economic management.
Growth of ceded reinsurance management system and Aon alliance spur move to new space
Catastrophe bonds are an increasingly important form of risk transfer for insurers. Cat bonds are a peculiarity of the US reinsurance market, where about 125 to 200 natural disasters occur yearly. The cat bond market has been growing steadily for the past ten years, and ceded reinsurance systems should include features needed to manage these reinsurance bonds.
Effisoft USA, Inc. has named Grégory Moliner chief executive officer. He was vice president of reinsurance presales and Solvency II solutions at the parent company, Paris-based Effisoft, a worldwide leader in reinsurance software.