Insights
Two Years On: Lessons Learnt in my Second Year as a Consultant
As I mark two years of independent consulting in the reinsurance technology space, I find myself reflecting on all that has happened in terms of growth, challenges, and change. The reinsurance industry is in the midst of a digital revolution, and I’ve had the privilege of working alongside forward-thinking reinsurers as they navigate this shift.
RegTech and Reinsurance
We’ve seen InsurTech, FinTech and a range of other ‘SomethingTech’s crop up over the years, especially as the technology develops and can provide new solutions to age-old problems. One I’ve seen and heard about recently is RegTech. Now, what in the corporate, jargon-loving world is RegTech, you may ask? That is exactly what we’re going to uncover in this article.
My Top Considerations For Reinsurers Looking to Improve Digital Processes
Reinsurers are facing increasing pressure and reason to incorporate technology in order to remain competitive and efficient in the market. However, as we know very well, the process does not come without challenges and this requires careful consideration. When I work with clients, there are usually some key areas where action is needed. In this article, I thought I would share these areas and a little about why it’s important to work on them before converting processes digitally.
How to get your reinsurance team excited for digitisation
It's very disheartening for a leader to have worked hard on the logistics and realities of digitising, humming and ha-ing trying to decide what's right for the company, only to be faced with an even bigger hurdle - their employees. It's an all too common occurrence, which Altimeter (2024) states accounts for 26% of the overall reasoning for why digitisation should fail.
Therefore, it's important to address why this might be so and what can be done to turn it around. That is what we are going to look at in this article, starting with the biggest hurdle leaders tend to come up against…
Can Standardisation Really Work in Reinsurance?
Standardisation helps streamline communication and facilitate agreements between reinsurers and ceding companies. But, is there any evidence of standards actually working for the industry? Read my latest article, 'Can Standardisation Really Work in Reinsurance?' below.
Three Strategies for Seamless Collaboration Between Business and Tech in Reinsurance Operations
Are your business and tech teams on the same page? If you've implemented digitisation in your reinsurance company, you may know the strain it can have on both your business people and the tech team when one doesn't understand or respect the other and vice versa.