When the old normal was normal, the Lloyd’s Library played host to a number of excellent speakers from around the industry. One of its most memorable guests, though, was an outsider-turned-insider: Paula Jarzabkowski, Professor of Strategic Management at City’s Business School, here in London.
Why, in our industry, do our highly intelligent colleagues spend so much time unzipping, copying and pasting data from one spreadsheet into another? It's astonishing when you stop and think about it. And it made us ask, why?
Reinsurance submissions can be complex and time-consuming, right? Surely, there's a better way. At Supercede, we've been speaking to reinsurance experts globally to understand their data challenges and explore how a standardised data platform can best support the market’s future needs.
Willis Re looks set to be cast aside as part of the Aon mega-merger, likely divorcing it from any retail leverage and possibly, existing technology assets. A bleak picture, but could offloading its legacy accelerate the firm’s transition towards a leaner reinsurance broker model?
The efforts of Lloyd's to modernise over the past decade have reached a turning point. With tough results beckoning for a long-closed underwriting room, now could be a unique window of opportunity for digital to take hold.
We've also spent countless hours talking to reinsurance practitioners from around the world; developing a deeper understanding of the pain points they face in their day-to-day lives. It is these insights that guide our product and our business.
The emergence of star players at challenger brokers is a key theme for 2021, as I highlighted at InsTech London’s recent predictions podcast. But with the clock ticking to show results, and the human impact likely muted by the ongoing pandemic, it will fall to challenger brokers’ technology propositions to fill the gap.
As a former reinsurance pricing actuary, I remember eagerly awaiting the submission packs from our favourite brokers and cedents. But I also remember that, along with colleagues, we would spend 90% of our time opening, downloading, unzipping, copying and pasting their contents, before we could actually get any work done.
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