This episode features a discussion exploring the use of technology within insurance and reinsurance markets, in particular how reinsurance outcomes can be improved for ceding companies with the use of tech. 

This was a session from our Prospectus 2021 event, the new annual reinsurance and insurance-linked securities (ILS) conference brought to you by Artemis in collaboration with sister title Reinsurance News in November 2020. 

Panellists included Sean Bourgeois, Founder & CEO, Tremor Technologies, Inc., Claude Yoder, Head of Analytics, Lockton Re, and Carol Pierce, Senior Director, Insurance, Kroll Bond Rating Agency (KBRA). 

The trio of industry specialists emphasised that while progress is being made, the industry’s ability to leverage advanced technology and analytics for improvements remains in its infancy, suggesting there’s much more to come. 

Later in the session, the topic of standardisation was raised and specifically, whether heightened standardisation as a result of tech-driven risk transfer solutions means that eventually, we get to a point where capital markets investors can participate more readily. 

Sean Bourgeois of Tremor explained the level of sophistication of many players in the insurance and reinsurance space and the distinct opportunity in making it easier for them to access capital, or allocate to risk, in its current as well as future perhaps more standardised forms. 

Technology can do a lot for the reinsurance market in its current guise and suite of products, before even considering broader standardisation, he explained.